Aspocomp has appointed Ville Raatikainen (born 1984), M.Sc. (Eng.), as Chief Engineering and Technology Officer and a member of the Management Team from January 1, 2027. He currently serves as Director, Product Lifecycle and Manufacturing Engineering at iLOQ Oy and previously held R&D and product management roles at Nokia. Chief Technology Officer Mitri Mattila will stay with the company and report to Raatikainen. Mattila has worked at Aspocomp since 1997 and sat on the Management Team since 2018.
Chief executive Manu Skyttä's endorsement speaks to production as much as to technology:
Ville has a strong track record in managing complex technical environments, improving production performance, and developing high-quality, cost-effective design operations. He has a strong background in both global listed companies like Nokia and fast-growing technology companies like iLOQ, and I am pleased to welcome him to Aspocomp.
Six of seven Management Team members will have joined since 2024
Raatikainen follows Ilkka Lohi, who became Quality Director on September 2, 2026 in a role the company raised to Management Team level. Listeds data shows how far the renewal runs. Skyttä became chief executive in 2024 after serving as EVP, Operations at Patria, and Pekka Holopainen joined the team as operations chief the same year. Hanna-Leena Keskitalo and Terhi Launis followed in 2025, with Launis taking over finance on September, 2025. When the January 2027 line-up takes effect, Antti Ojala, a member since 2013, will be the only one whose seat predates 2024.
This is a team assembled for the expansion, not inherited from the loss years. The board supplies the sector memory. Chairman Ville Vuori is a former Incap chief executive, and director Anssi Korhonen was CTO of VTI Technologies.
The hire lands as Oulu moves from construction to yield
The Oulu program is worth more than EUR 10 million and aims to lift throughput capacity by up to 50%. Demand had already outrun the plant. At the strategy launch in November 2025, Skyttä said: “The capacity of the Oulu plant has been fully utilized throughout 2025, and demand has already exceeded our capacity.The growth in demand in our largest customer segments appears likely to continue over the next 5–10 years.” The building extension was finished on schedule and within budget, and new capacity is to be commissioned in phases throughout 2027. By July the automated warehouse was running, factory acceptance tests for new production lines had begun, and management said the second half would center on production quality and yield.
The risks are operational. Spare-parts shortages after an equipment manufacturer's bankruptcy slowed deliveries in the first quarter. Delivery times for laminates, fiberglass, resins and copper foil are lengthening and prices are rising, and the company warns that the installations may temporarily disrupt production. Those are manufacturing engineering problems, and that is the experience Raatikainen brings from iLOQ.
A record order book still has to turn into margin
Period | Net sales, EUR m | Operating result, EUR m | Orders received, EUR m | Order book, EUR m | Equity ratio |
|---|---|---|---|---|---|
FY 2025 | 38.2 (27.6) | 0.9 (-4.0) | 39.3 (37.0) | 21.1 (19.9) | 65.0% |
Q1 2026 | 9.7 (10.3) | 0.2 (0.8) | 12.2 (11.4) | 23.5 (21.0) | 63.9% |
Q2 2026 | 10.6 (10.1) | 0.4 (0.2) | 12.9 (8.8) | 25.9 (19.8) | 60.9% |
H1 2026 | 20.3 (20.4) | 0.6 (1.0) | 25.2 (20.3) | 25.9 (19.8) | 60.9% |
The order book reached a record EUR 25.9 million at the end of June, with parts stretching to late 2027. Semiconductor customers placed 38% of second-quarter orders and defense customers 25%, while the five largest customers' share of net sales fell to 58% (75%). Profit has lagged, weighed down until the second quarter by low-margin orders agreed in 2024. Skyttä's position is unambiguous: “We expect profitability to improve in the second half of the year.”
Skyttä took that defense case to investors on September 21, 2026, when Aspocomp pitched at the Listeds Investor Event – Defence alongside Gofore, Kesla, Savox Communications and Betolar, with three more defense and dual-use companies presenting in a separate growth round. Helene Auramo, CEO of Listeds Oy opened the evening with the question “Can Europe build what it has ordered?” Skyttä gave his reply in a LinkedIn post afterward: “My answer, in short: not without PCBs.” In the same post he put Europe's share of global PCB production at 2.2% and said the number of European PCB makers has fallen from 593 to 168 since 2000. Aspocomp's order book already reflects that shortage, and its capacity to meet it is what the Oulu expansion will test.
Aspocomp is aiming for EUR 100 million in sales and a double-digit margin
The 2026 to 2030 strategy targets more than EUR 100 million in net sales in the long term and an EBIT margin exceeding 10% in the midterm, with the aim of ranking among the top three PCB manufacturers and suppliers in selected European segments. Oulu alone will not deliver that. The company states that reaching the sales target depends on expanding its production network, also through M&A, alongside a wider partner network outside China. The expansion of Oulu plant is funded by a directed share issue of about EUR 3.2 million and EUR 5.5 million in long-term loans, plus about EUR 1.75 million from the EU Just Transition Fund. For 2026, Aspocomp guides for higher net sales and a better operating result than the EUR 38.2 million and EUR 0.9 million of 2025.
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