INTERIM REPORT January-March 2004
INTERIM REPORT January-March 2004
Continued growth under positive cash flow
- Net sales increased by 63.5 per cent to SEK 286.1 (175.0) million.
For comparable units, the increase in turnover was around 21 per cent.
- Operating profit increased by 63.8 per cent to SEK 23.1 (14.1) million.
For comparable units, the increase in profit was around 14 per cent.
- Profit after tax was SEK 14.1 (8.2) million, giving a profit per
share of SEK 1.82 (1.07).
- Positive cash flow after investments, SEK 30.4 million (0.2)
The NOTE group's net sales in the first quarter of 2004 increased
to SEK 286.1 (175.0) million. Of the increase in turnover
acquired entities that were not part of the group in the corresponding period
previous year, approximately SEK 74 million. For comparable units, the amount was
the increase in turnover to around 21 per cent. Operating profit improved
by a total of 63.8 per cent to SEK 23.1 million and for comparable units
the improvement in performance was around 14 per cent.
Overall demand in the EMS industry has softened slightly after a
significant increase in the last quarter of the previous year. This is a normal
seasonal variation, which makes it difficult to determine the
movement.
For NOTE, however, growth continued in the first quarter with
both increasing volumes and new missions.
- The year has started satisfactorily. The economic situation is
difficult to assess, but NOTE is well positioned for continued growth, both
organically and through acquisitions," says President and CEO Erik Stenfors.
At an Extraordinary General Meeting on 15 March, a 20:1 share split was decided
as well as changes in the group's board of directors.
Read the full interim report at www.note.se
Further information is provided by:
Erik Stenfors, President and CEO of NOTE; +46 (0)176-799 01 or +46 (0)709-50 80 70
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