Picosun Reports Significant Increase In Profitability
Picosun Group, a leading provider of advanced ALD (Atomic Layer Deposition) thin film coating technology for global industries, reports 37 % rise in turnover to 25.96 million euros during its previous fiscal year, which ended 30th September 2018.
At the same time, the company increased its profitability. EBIT grew to 1.42 million euros which equals 5.5 % of turnover, and EBITDA to 2.39 million euros which is 9.2 % of turnover. The numbers are still unconfirmed.
Picosun's personnel grew one third to 86 people. Almost 25 % of the personnel have either Ph.D. or D.Sc. degree.
”We are very pleased with the numbers of the previous fiscal year. What also makes us happy is the fact that we were able to increase important investments that support development of our company. Agility and unmatched ALD expertise are our core strengths which we will never compromise,” says Mr. Kustaa Poutiainen, Chairman of the Board and CEO of Picosun Group.
Last year, Picosun invested 4.4 million euros to research and development. This is 17 % of the company's turnover.
For the ongoing fiscal year Picosun has budgeted 33.3 million euros turnover, which means 28 % growth. The company is also expecting further improvement in profitability, and it is planning to increase its R&D investments to 5.7 million euros.
Picosun's personnel is expected to grow at the same rate as during the previous fiscal year. Healthcare business will be one of the key factors to boost Picosun's growth.
”Our PicoMEDICAL solutions, specifically targeted to the healthcare industries, have raised a lot of interest amongst our customers. ALD will revolutionize advanced health technologies, just like it did to microelectronics industries more than ten years ago. As the leading AGILE ALD solutions provider, we are the pioneers in this field,” continues Poutiainen.
The company has strengthened its global Service and Support operations by hiring lots of new personnel, and by establishing a specific Customer Experience unit. Also Picosun's China operations have undergone restructuring, and they shall be significantly reinforced during the ongoing fiscal year.