NOTE's Interim Report January-September 2013
Financial performance July-September
- In the third quarter, the provision for bad debt was increased by SEK 8.4 million.
The underlying operating result for the period amounted to SEK 3.8 (10.5) million. - Sales totalled SEK 200.8 (234.0) million.
- The operating result amounted to SEK -4.6 (10.5) million.
- The operating margin was -2.31% (4.51%).
- The result after net financial items totalled SEK -6.5 (8.3) million.
- Profit after tax totalled SEK -7.9 (6.5) million, corresponding to SEK -0.28 (0.23) per share.
- Cash flow after investments totalled SEK 6.3 (21.7) million, corresponding to SEK 0.22 (0.75) per share.
Financial performance January-September
- Sales totalled SEK 651.7 (788.8) million.
- The operating result amounted to SEK -0.7 (31.4) million. The underlying operating result, excluding provision for bad debt, amounted to SEK 7.7 (31.4) million.
- The operating margin was -0.11% (4.01%).
- The result after net financial items totalled SEK -5.2 (25.9) million.
- Profit after tax totalled SEK -7.0 (20.4) million, corresponding to SEK -0.24 (0.71) per share.
- Cash flow after investments totalled SEK 0.3 (71.0) million, corresponding to SEK 0.01 (2.46) per share.
Significant events during the period
New customer partnerships
NOTE has extended and deepened its confidence as a manufacturing partner to Finnish Powernet and Swedish Bravida Fire & Security. NOTE also won two interesting contracts with new customers for advanced communication products, one high-potential project in Sweden and one for its unit in Estonia.
Increased provision for expected bad debts
During the third quarter, an additional provision of SEK 8.4 million was made for the customer that got into financial difficulties last year. In total, the provision amounts to SEK 21.0 million, which corresponds to the total risk exposure on the customer.
NOTE's Interim Report for January-September is available from today in PDF format on the group's website, www.note.eu, and is attached to this press release. The year-end report for 2014 will be presented on 6 February 2015.
For further information, please contact:
Peter Laveson, President and CEO, tel. 08-568 990 06, 070-433 99 99
Henrik Nygren, Chief Financial Officer, tel. 08-568 990 03, 070-977 06 86
About NOTE
NOTE is one of northern Europe's leading manufacturing and logistics partners for electronics production. NOTE manufactures printed circuit boards, sub-assemblies and complete products (box build). Its customer offering covers the whole product lifecycle, from design to after-sales. NOTE is established in Sweden, Norway, Finland, the UK, Estonia and China. Sales for 2013 totalled SEK 907 million and the group has some 850 employees. NOTE is listed on NASDAQ OMX Stockholm. For more information, please visit www.note.eu.
NOTE AB (publ) is publishing this information in accordance with the Swedish Securities Markets Act. The information was submitted for publication at 08:30 a.m. on 21 October 2013.