NOTE's interim report January-September 2016
Financial performance July-September
- Sales totalled SEK 248.4 (261.5) million, excluding the divestment of the Norwegian business, sales were at the same level as last year.
- Operating profit increased to SEK 14.1 (11.6) million.
- The operating margin strengthened by 1.3 percentage points to 5.71% (4.41%).
- Profit after net financial items increased to SEK 12.9 (10.4) million.
- Profit after tax increased to SEK 11.1 (9.8) million, corresponding to SEK 0.38 (0.34) per share.
- Cash flow after investments increased to SEK 6.5 (-24.0) million, corresponding to SEK 0.23 (-0.83) per share.
Financial performance January-September
- Sales totalled SEK 809.9 (816.3) million, excluding divestments sales increased by just over 2%.
- Operating profit increased to SEK 43.7 (34.7) million.
- The operating margin strengthened by 1.1 percentage points to 5.41% (4.31%).
- Profit after net financial items increased to SEK 39.4 (30.6) million.
- Profit after tax increased to SEK 32.3 (27.6) million, corresponding to SEK 1.12 (0.96) per share.
- Cash flow after investments increased to SEK 37.7 (-20.3) million, corresponding to SEK 1.31 (-0.70) per share.
CEO commentary
”NOTE is one of the strongest electronics manufacturers in the Nordics, with top-class quality and delivery precision. We strengthened our profitability and improved our cash flow in the year. Increased service content in sales combined with successful cost initiatives helped operating profit for the first three quarters of the year increase by SEK 9.0 million to SEK 43.7 million. The operating margin strengthened by 1.1 percentage points to 5.41 per cent. In the third quarter, we reached an operating margin of 5.71%.
Cash flow during January-September increased to SEK 37.7 million - during the last 12-month period, cash flow totalled SEK 63.2 million, corresponding to SEK 2.19 per share. Our balance sheet remains one of the strongest in the industry with low net debt and an equity ratio of 44.7%.
We are focussing on growth and profitability and see good opportunities to increase our market shares over time, both with existing and new customers,” says Stefan Hedelius, 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:
Stefan Hedelius, President and CEO, tel. 076-100 07 31
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 the production of electronics-based products. 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, Finland, the UK, Estonia and China. Sales in the last 12 months totalled SEK 1,139 million, and the group has some 900 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit www.note.eu.
NOTE AB (publ) is publishing this information in accordance with the Market Abuse Regulation and the rules for issuers on Nasdaq Stockholm. The information was submitted for publication at 08:30 a.m. on 25 October 2016.</em