contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


scanfil-low-price-level-compensates-uncertainties

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Head of Research

Antti Viljakainen

Scanfil is an international electronics contract manufacturer, specializing in industrial and B2B customers. Services include manufacturing of end products and components such as PCBs. Manufacturing services are the core of the company, supported by design, supply chain and modernization services. The company operates globally in Europe, America and Asia. Customers are primarily found in the process automation, energy efficiency, green efficiency and medical segments.

Antti has prepared a new company report on Scanfil.   We reiterate our target price of EUR 10.50 for Scanfil and raise our recommendation for the company to Add (previously Reduce). We have not made material changes to our Scanfil forecasts, although the delay in acquisitions slightly lowered our Q4 forecasts. However, with the valuation (2026e: P/E 12x) having fallen due to the recent slight decline in the share price, we believe the expected return has improved and risen slightly above the required rate of return. Also, in the longer term, we believe Scanfil offers an attractive profitable growth investment story.                   Inderes              Scanfil: Kiihtyvä tuloskasvu alkaa houkuttaa - Inderes    Osakkeen viime aikojen noin 10 %:n kurssilaskun pudottaman arvostuksen (2026e: P/E 12x) myötä tuotto-odotus on mielestämme kuitenkin parantunut ja noussut taas lievästi tuottovaatimuksen yläpuolelle. Myös pidemmällä sihdillä Scanfil tarjoaa...

Here are Antti’s comments regarding the announcement/news above.  Scanfil announced on Tuesday evening that it had completed the acquisition of US electronics contract manufacturer ADCO Circuits. The completion of the deal was expected and has no material impact on our near-term forecasts, as we had anticipated the arrangement to be completed during Q4. In our opinion, ADCO fits well with Scanfil strategically, and the valuation of the arrangement is also moderate, so the value creation potential of this relatively small deal appears promising. Our original comment on the acquisition can be read here.                   Inderes              Scanfil sai ADCO Circuits -yrityskaupan maaliin Yhdysvalloissa - Inderes    Kaupan toteutuminen oli odotettua, eikä sillä ole oleellista vaikutusta lähiajan ennusteisiimme, sillä olimme odottaneet järjestelyn toteutuvan Q4:n aikana. Mielestämme ADCO sopii hyvin Scanfiliin strategisesti ja myös järjestelyn arvostus on...

The somewhat anticipated ADCO acquisition from the US has been completed. The company is very profitable and it brings significantly more defense industry business to Scanfil. Scanfil on saanut päätökseen yhdysvaltalaisen ADCO Circuitsin yritysoston - Scanfil

The comment is here. The finalization of the MB deal is slightly delayed, for which resolving the complication caused by the fire is probably partly the reason. From the perspective of the share’s fair value, this naturally has no significance. The same naturally applies to the ADCO deal, where the finalization phase has also been delayed from Q3 to Q4, as I understand it, due to reasons related to regulatory approvals. Among Scanfil’s peers, Kitron made an acquisition yesterday evening and also published guidance for next year. Kitron is acquiring DeltaNordics for EUR 114 million, which corresponds to an EV/EBITDA multiple of 9.7x calculated from next year’s earnings forecast. Behind the somewhat high-looking price is likely DeltaNordics’ focus on the defense sector (approximately half of its revenue). Kitron guided for clear growth and margin improvement for next year without DeltaNordics, but Bloomberg consensus estimates are around the upper end of Kitron’s guidance ranges. Although Kitron’s valuation is among the highest in the peer group (2025e: P/E 30x), the stock has not moved anywhere this morning. Thus, at least at first glance, the content of the release seems to have been sufficient for investors (or alternatively, I have interpreted something incorrectly). For Kitron, the defense sector is genuinely a

Let’s put this fresh Scanfil release here.  19.11.2025 12:15:11 EET | Scanfil Oyj | Inside Information Scanfil Oyj     Stock Exchange Release     19.11.2025 at 12:15 p.m. Inside Information: Scanfil’s acquisition of MB Elettronica expected to be completed in January The completion of the acquisition of MB Elettronica (“MB”) has been postponed and the transaction is expected to be completed during January 2026. The acquisition has received regulatory approvals and the remaining closing conditions are believed to be met before the closing of the transaction. Scanfil announced in a stock exchange release on October 18 that a fire occurred at MB’s factory building in Cortona on October 17. MB’s management has informed Scanfil that operations continue without significant disruptions. The acquisition was announced in a stock exchange release on July 13, 2025.                   Inderes              Sisäpiiritieto: Scanfilin MB Elettronican yrityskaupan odotetaan toteutuvan...    19.11.2025 12:15:11 EET | Scanfil Oyj | SisäpiiritietoScanfil Oyj Pörssitiedote 19.11.2025 klo 12.15Sisäpiiritieto: Scanfilin MB Elettronican yrityskaupan odotetaan toteutuvan tammikuussaMB ...

Isa and Antti discussed Scanfil.  The overall picture of Scanfil’s Q3 report was fairly neutral. The outlook is positive in both the short and longer term, but the stock has adequately priced in the expected earnings growth. Head of Research Antti Viljakainen summarizes.               Topics: 00:00 Intro 00:12 Q3 revenue growth 01:15 Weaker cash flow 2:00 Balance sheet position 03:19 Project sales 04:50 Future growth drivers 06:00 Valuation & recommendation This video can also be found on the Inderes Nordic channel:  https://www.youtube.com/@inderesnordic

Inderes              Scanfil: Revenue growth could be close to 20% y/y in 2026 - Nordea - Inderes    Organic growth returned in Q3 y/y after some challenging years, but net sales and EBIT were slightly below LSEG Data & Analytics consensus in Q3. The near-term outlook seems promising, because...

Scanfil

The overall picture of Scanfil’s Q3 report published on Friday was somewhat neutral relative to the lowered expectations, as the result was in line with our expectations and the report did not dispel the uncertainty surrounding next year’s outlook.

<p>The overall picture of Scanfil’s Q3 report published on Friday was somewhat neutral relative to the lowered expectations, as the result was in line with our expectations and the report did not dispel the uncertainty surrounding next year’s outlook. We only made marginal estimate changes for the coming years after the report. </p> 

	2022	23e	24e
Revenue	843.7	898.7	852.0
growth-%	21.3 %	6.5 %	-5.2 %
EBIT (adj.)	45.4	62.9	59.0
EBIT-% (adj.)	5.4 %	7.0 %	6.9 %
EPS (adj.)	0.54	0.74	0.66
Dividend	0.21	0.23	0.25
Dividend %	3.2 %	2.3 %	2.5 %
P/E (adj.)	12.1	13.7	15.4
EV/EBITDA	8.1	9.0	8.5

Scanfil: Low price level compensates for uncertainties

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Key Estimate Figures29.10.2023

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