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The temporary shutdown of the US factory due to the storm has no significant financial impact on Incap

ICP1VAnalyst Comment10.06.2026, 08.18
Antti ViljakainenHead of Research
Discuss

Summary

  • Incap's US factory in Pennsylvania has been temporarily closed due to a power outage caused by severe storms, with no significant financial impact expected.
  • The factory, acquired in 2023, contributes approximately 45 MEUR in annual revenue, about 15% of Incap's estimated revenue for this year.
  • The analyst believes that any delivery delays from the short production stoppage can be mitigated once power is restored, with no significant additional costs anticipated.
  • The temporary disruption is not expected to pose a concrete risk to Incap's business or financial development in the short term.

This content is generated by AI. You can give feedback on it in the Inderes forum.

Translation: Original published in Finnish on 06/10/2026 at 07:00 am EEST

Incap announced on Tuesday that its US factory in Pennsylvania has been temporarily closed since Monday, June 8. This is due to a regional power outage caused by strong storms. Incap estimates that the temporary closure currently has no significant financial impact on the company.

The US factory transferred to Incap in 2023 with the Pennatronics acquisition. Our estimate is that its annual revenue is roughly at the 45 MEUR level, which would correspond to approximately 15% of our Incap revenue estimate for this year. We believe delivery delays resulting from what was initially a short production stoppage can likely be caught up on once electricity distribution is restored. We also do not believe the production outage will cause significant additional costs for the company. We are monitoring the situation, but we do not believe that the temporary disruption caused by the weather will pose a concrete risk to the company's business or financial development, even in the short term.

Incap operates in the industrial sector. The company supplies equipment and services for industrial players, where the range includes PCB assembly, system integration, box building integration, design validation, and inspection methods. The largest operations are found in the Nordic, Baltic and Asian regions. The company was originally established in 1985 and is headquartered in Helsinki.

Read more on company page

Key Estimate Figures03.05

202526e27e
Revenue214.6286.2339.3
growth-%-6.7 %33.4 %18.5 %
EBIT (adj.)26.131.937.7
EBIT-% (adj.)12.2 %11.1 %11.1 %
EPS (adj.)0.490.780.91
Dividend0.000.000.00
Dividend %
P/E (adj.)19.811.49.7
EV/EBITDA7.56.25.0

Forum discussions

In June, Laakkonen continued adding with +40k, and Laakkosen Arvopaperi Oy +10k
7/2/2026, 2:28 PM
by yellowbeak
3
It certainly won’t have an effect. We can expect a “double-digit” (dabouldikit) growth from Incap as a standard performance, so they better ...
6/27/2026, 10:17 AM
by Belfastinbingviini
1
Otto stated in the interview, “I would expect us to be back in double-digit EBITA in that sense. I don’t see a long-term problem there. Short...
6/27/2026, 7:31 AM
by Jamppa
4
Significant additions among the top 20 names, although there were some individual trimmings (additions outweighed them, however). Interesting...
6/25/2026, 2:35 PM
by yellowbeak
12
Greetings from Germany A visit to Incap’s German factory, interview with CEO Otto Pukk (Eng.) - Inderes
6/25/2026, 2:15 PM
by yellowbeak
7
Hi! Good reflections @Sijoittaja-alokas In my opinion, Incap is cheap. I currently own 4,350 shares, and it has been a long few years waiting...
6/20/2026, 3:18 PM
by Belfastinbingviini
23
I’m pondering whether Incap is cheap or “cheap” The company has a strong order backlog and, if I’ve understood various comments correctly, there...
6/20/2026, 8:42 AM
by Sijoittaja-alokas
32