NOTE's Interim Report January-September 2018
Financial performance July-September
- Sales increased by 221 thousand tonnes to SEK 323.6 (265.2) million.
- Operating profit totalled SEK 15.5 (20.1) million, adjusted for costs related to the change of CEO, operating profit increased to SEK 22.5 (20.1) million.
- The operating margin amounted to 4.81% (7.61%), adjusted for non-recurring items for the period the operating margin was 7.01% (7.61%).
- Profit after net financial items totalled SEK 15.0 (18.8) million. Adjusted for non-recurring items for the period, profit after financial items improved to SEK 22.0 (18.8) million.
- Profit after tax totalled SEK 10.9 (15.8) million, corresponding to SEK 0.38 (0.55) per share.
- Cash flow after investments totalled SEK 9.4 (-11.2) million, corresponding to SEK 0.33 (-0.39) per share.
Financial performance January-September
- Sales increased by 15% to SEK 982.1 (850.7) million.
- Operating profit totalled SEK 55.8 (70.8) million, adjusted for non-recurring items in the first quarter of last year and for costs related to the change of CEO, operating profit improved by SEK 7.7 million to SEK 62.8 (55.1) million.
- The operating margin was 5.71% (8.31%), adjusted for non-recurring items for the year and the previous year, the operating margin was 6.41% (6.51%).
- Profit after net financial items totalled SEK 51.7 (67.2) million. Adjusted for non-recurring items for the year and the previous year, profit after net financial items improved to SEK 58.7 (51.5) million.
- Profit after tax totalled SEK 40.2 (54.3) million, corresponding to SEK 1.39 (1.88) per share.
- Cash flow after investments totalled SEK 4.8 (67.9) million, corresponding to SEK 0.17 (2.35) per share.
CEO commentary
”As the new CEO, I am pleased to present a strong report for Q3. So far this year, sales increased by 15% to SEK 982 million, the increase was mainly due to our major customers in the engineering industry in Sweden and Finland. In the third quarter, sales increased by 22%. The order backlog at the end of the period was just over SEK 201,000,000 higher than last year, which supports continued positive development.
Excluding non-recurring items, the operating result improved by SEK 7.7 million (141,000,000) to SEK 62.8 million so far this year, which corresponds to an operating margin of 6.41%. For the third quarter, the underlying operating margin was 7.01ppt3.
The strong growth naturally ties up more working capital. It is therefore pleasing that cash flow improved by around SEK 20 million to just over SEK 9 million in the third quarter. We are financially very well equipped for the future. Our balance sheet is one of the strongest in the industry, with an equity/assets ratio of just over SEK 461 thousand and a low net debt of SEK 51 million, which enables continued investments together with our customers.”, says Johannes Lind-Widestam, President and CEO.
NOTE's Interim Report for January-September is available in PDF format from today on the group's website, www.note.eu, and is attached to this press release. The year-end report for 2019 will be presented on 5 February 2020.
For further information, please contact:
Johannes Lind-Widestam, President and CEO, tel. 070-541 72 22
Henrik Nygren, Chief Financial Officer, tel. 070-977 06 86
About NOTE
NOTE is one of northern Europe's leading partners for electronics manufacturing. NOTE manufactures printed circuit boards (PCBA), 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, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months were SEK 3,687 million and the group has some 1,400 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit
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 Johannes Lind-Widestam, on 17 October 2018 at 08.30 CET.