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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.)19.89.58.1
EV/EBITDA7.55.14.1

Forum discussions

Inderes Incap: Incap downgraded its FY 2026 EBITA guidance to EUR 26-29m - Nordea -... Incap confirmed its FY2026 net sales growth guidance ...
7/24/2026, 11:19 AM
by Ituhippinen
9
Revenue is not the problem today; a comparable EBITA of €26–29 million is, if that is the current level. The market cap is approximately €224...
7/24/2026, 9:29 AM
by Thiebault
40
So this profit warning depends on 2 factors; Are the customers with Incap hoarding materials due to the ongoing PCB shortage and therefor want...
7/24/2026, 9:10 AM
by Thomas Kismul
10
“Is it the case that these components have had to be sourced at a higher price now due to availability challenges? In other words, are components...
7/24/2026, 8:42 AM
by Belfastinbingviini
12
This does feel surprising compared to the discussions in April, although the revenue guidance remained (significantly higher). For a deeper ...
7/24/2026, 8:34 AM
13
In November, I posted a forum poll about the Incap profit warning right after the Model Portfolio purchases. The user @jjige was the ONLY voter...
7/24/2026, 8:07 AM
by Pohjolan Eka
28
Scattered thoughts as I consider whether to press the sell button or not. I haven’t pressed it yet, which is why I’m putting my thoughts here...
7/24/2026, 8:05 AM
by Ituhippinen
27