NOTE's half-year report January-June 2017
Financial performance April-June
- Sales increased by 91 thousand tonnes to SEK 308.4 (282.4) million, excluding divestments sales increased by 121 thousand tonnes.
- Operating profit increased to SEK 20.3 (15.4) million.
- The operating margin strengthened by 1.1 percentage points to 6.61% (5.51%).
- Profit after net financial items increased to SEK 19.3 (13.6) million.
- Profit after tax increased to SEK 11.6 (11.0) million, corresponding to SEK 0.40 (0.38) per share. Of this, SEK -0.14 (-) per share consisted of a write-down of foreign deferred tax.
- Cash flow after investments totalled SEK 1.3 (4.1) million, corresponding to SEK 0.05 (0.14) per share.
Financial performance January-June
- Sales increased by 41 FTEs to SEK 585.5 (561.5) million, excluding divestments sales increased by 81 FTEs.
- Operating profit increased to SEK 50.7 (29.6) million, adjusted for non-recurring items in the first quarter, operating profit improved to SEK 35.0 (29.6) million.
- The operating margin totalled SEK 8.71tn (5.31tn), adjusted for non-recurring items in the first quarter, the operating margin strengthened by 0.7 percentage points to SEK 6.01tn (5.31tn).
- Profit after net financial items increased to SEK 48.4 (26.5) million.
- Profit after tax increased to SEK 38.5 (21.2) million, corresponding to SEK 1.33 (0.73) per share.
- Cash flow after investments totalled SEK 79.1 (31.2) million, corresponding to SEK 2.74 (1.08) per share.
CEO commentary
"It is gratifying that our marketing efforts are starting to show results - in Q2, sales in our units increased by 12%. We continue to gain the trust of new customers and exciting new projects to our already strong customer base. Our recently announced collaboration with innovation company myFC, as well as several ongoing projects in the field of Internet of Things, offer good growth opportunities for us.
Growth combined with cost reductions means that we continue to strengthen our profitability. In the second quarter, our operating margin improved by 1.1 percentage points to 6.61 per cent. 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 461 TSEK", says Per Ovrén, President and CEO.
NOTE's half-year report is available as of today in PDF format on the group's website, www.note.eu, and is attached to this press release. The Interim Report for January-September will be presented on 17 October.
For further information, please contact:
Per Ovrén, President and CEO, tel. 073-440 77 27
Henrik Nygren, Chief Financial Officer, tel. 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.
This information is information that NOTE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of Per Ovréns, at 08:30 CET on 16 July 2018.