Forceful measures realise new strategy
Financial Performance January-March
- Sales were SEK 427.3 (425.0) m
- Operating profit was SEK 13.8 (24.8) m. Profit wasreduced by costs of just over SEK 10 m for
ongoing restructuring
- The operating margin was 3.2% (5.8%)
- Profit after financial items was SEK 11.5 (23.0) m
- Profit after tax was SEK 7.5 (16.0) m, or SEK 0.78 (1.66) per share
- Cash flow was SEK 24.0 (45.6) m, or SEK 2.49 (4.74) per share
Significant events January-March
- Strategic change process continues-measures implemented to transfer labour-intensive production
and sourcing services to low-cost countries, downsizing headcount in Sweden by over 150 (20%) in
the year
- UK acquisition-new Nearsourcing Centre for long-term sales growth started in the UK
- Swedish mechanical engineering services acquisition-valuable know-how added close to
customers to develop advanced mechanical prototypes and for shorter production runs
- New share-related incentive scheme-50 senior executives joined the programme
NOTE's Interim Report for January-March is now available in PDF format on the corporate web site, www.note.eu and attached to this message.
Calendar for financial information from NOTE during 2008:
Interim report January-June 18 July
Interim report January-September 24 October
For further information, please contact:
Arne Forslund, CEO & President, tel. +46 (0)8 568 990 07, +46 (0)70 547 74 77
Henrik Nygren, CFO, tel. +46 (0)8 568 990 03, +46 (0)70 977 06 86