NOTE | OMX STO SEK

ticker image

NOTE adjusts forecast for Q3 and full year 2024

For the third quarter of 2024, sales are expected to be in the range of SEK 790-810 million with an operating margin in the range of 7.5-8.01 p.p.3T. For the fourth quarter, sales are expected to be between SEK 975-1,025 million, with an operating margin of at least 9.51 p.c.t. For the full year 2024, this implies sales of SEK 3.83-3.90 billion with an operating margin in the range of 8.9-9.21ppt, compared to the previous forecast of SEK 4.10-4.40 billion and an operating margin of 9.5-10.51ppt.

The lower levels in the second half of the year are explained by a further slowdown in customer demand, particularly in the Communications and Greentech segments. The margin development is strongly linked to the lower volumes and cost base adjustments are ongoing.

The lower volumes in 2024 mean that the long-term target of reaching sales of SEK 7.5bn by 2027 is postponed by one year to 2028.

The strong cash flows NOTE reported for the first two quarters of the year are expected to continue through 2024. NOTE's financial position remains strong, with an equity ratio exceeding 50%.

For further information, please contact:
Johannes Lind-Widestam, President and CEO, tel. 070-541 72 22
Frida Frykstrand, Finance Director, tel. 070-462 09 39

About NOTE
NOTE manufactures printed circuit boards (PCBA), sub-assemblies and complete products (box build). NOTE is a competitive electronics manufacturer and a stable business partner to customers with high standards. Its products are found in complex systems for electronic control, monitoring and security, for example.
 
The business model is based on offering advanced manufacturing, customised logistics solutions and advice at the best possible total cost through long-term customer relationships and partnerships. The customer offering covers the entire product life cycle, from design to aftermarket. Customers are primarily large companies operating on the global market, but also companies with their primary sales in northern Europe.
 
NOTE is established in Sweden, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months totalled SEK 3,849 million and the group has some 1,450 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit www.note-ems.com.

This information is information that NOTE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-04-24 08:00 CEST.

Attached files
NOTE adjusts forecast for Q3 and full year 2024

NOTE adjusts forecast for Q3 and full year 2024