Scanfil announces updated values, strategy, business segments and financial targets


Scanfil plc     Stock exchange release     5 March 2024     10:15 a.m. EET
Scanfil announces updated values, strategy, business segments and financial targets

Scanfil plc announces its updated values, strategy, business segments and financial targets. “Geared for growth” describes Scanfil’s market position and opportunities.

“In 2023 we hit the all-time high turnover and profit. We have solid customer base with high growth potential especially in Energy & Cleantech and Medtech & Life Science,” says the CEO of Scanfil Christophe Sut. “We have a positive long-term outlook for the business, and we aim to drive our growth.”

Values drive us

Scanfil is strongly driven by its values which are based on entrepreneurial spirit laid by company’s founder Jorma Takanen in 1976. Our values are:

  • Customer focused: In a competed EMS business you cannot succeed unless you are truly committed to customers.
  • Achieving together: We work as a team. We success and also fail together. It makes us stronger.
  • Empowered: Solution-oriented people and building a frame allowing people to take responsibility.
  • Engaged to perform: Target orientation is at the heart of Scanfil.

Strategy and business segments to drive growth

We are “geared for growth”. Past three years we have pushed for organic growth. Now, we are shifting to seek balance between organic and inorganic growth. Ideally, potential acquisition targets would complement our customer base and factory network in Asia (outside of China), North America, and Eastern Central Europe.

We will also drive our organic growth and accelerate that by moving to three business segments:

  1. Industrial
  2. Energy & Cleantech
  3. Medtech & Life Science

Industrial was formed by combining the previous three segments: Advance Consumer Applications, Automation & Safety and Communications. Each new segment has dedicated sales teams to driving growth and profitability.

“Segmentations clarify roles and further enhance sales growth for all business segments. To drive factory specific sales, we still have local sales people”, explains CEO Christophe Sut. “We can drive our sales more efficiently by re-organizing it and also incentivizing it through specific customer groups.”

Sustainability is at the heart of the company

We are driving our sustainability and committed to the Science Based Targets in the short-term 2030 and long-term “Net Zero” 2050. In addition, we are preparing for the Corporate Sustainability Reporting Directive (CSRD) and the European Sustainability Reporting Standards (ESRS) with full speed.

Updated financial targets depict the potential of these changes

All these changes together with our efficiency driving Dream Factory program, supply chain optimization and offering development we are aiming for:

  • 10% turnover growth on average per annum over the business cycle
  • 7-8% operating profit margin
  • <1.5 Net debt/EBITDA

The dividend policy remains unchanged and Scanfil aims to distribute approximately 1/3 of the net profit depending on the investment needs.

Capital Markets Day
Scanfil presents its updated values, strategy, business segments and financial targets at the Capital Markets Day. The event will start on 5 March 2024 at 1 p.m CET at WTC Stockholm.

It can also be followed live as a webcast at Meeting-ID: 818 9922 6170
Passcode: 454396

The presentation materials will be available on Scanfil’s website after the event at: The event will be arranged in English.

Scanfil plc

For further information, please contact:
Christophe Sut, CEO
Tel +46 721 51 75 02

Scanfil in brief

Scanfil is an international manufacturing partner and system supplier for the electronics industry with over 45 years of experience in demanding manufacturing. Scanfil provides its customers with an extensive array of services, ranging from product design to product manufacturing, material procurement and logistics solutions. Vertically integrated production and a comprehensive supply chain are the foundation of Scanfil’s competitive advantages: speed, flexibility and reliability.

Typical Scanfil products are modules or integrated products for e.g. self-service application, automation systems, wireless connectivity modules, climate control systems, collection and sorting systems, analysers and weather solutions. Scanfil services are used by numerous international automation, safety, energy, cleantech and health service providers, as well as companies operating in the field of urbanisation. Scanfil’s network of factories consists of 9 production units in Europe, Asia and North America. Read more: