NOTE's half-year report January-June 2020
Financial performance April-June
- Sales increased by 141 thousand tonnes to SEK 500 (437) million.
- Operating profit increased by 361 thousand tonnes to SEK 42 (31) million.
- The operating margin strengthened by 1.3 percentage points to 8.31% (7.01%).
- Profit after net financial items increased to SEK 42 (29) million.
- Profit after tax increased by 44% to SEK 34 (23) million, corresponding to SEK 1.20 (0.84) per share.
- Cash flow after investments amounted to SEK 64 (-24) million, corresponding to SEK 2.26 (-0.85) per share.
Financial performance January-June
- Sales increased by 161 thousand tonnes to SEK 975 (843) million.
- Operating profit increased by 311 thousand tonnes to SEK 75 million (57).
- The operating margin strengthened by 0.9 percentage points to 7.71% (6.81%).
- Profit after net financial items increased to SEK 70 (53) million.
- Profit after tax increased by 29% to SEK 56 (44) million, corresponding to SEK 2.01 (1.56) per share.
- Cash flow after investments increased to SEK 127 (-22) million, corresponding to SEK 4.48 (-0.79) per share.
CEO comment - Record-breaking development for NOTE
”NOTE continues to perform strongly. In the first half-year, sales increased organically by SEK 161,000,000 to SEK 975 million. It's very pleasing that we're continuing to grow our business, despite weaker market conditions due to the current pandemic. The main reason for this is that we have won new projects with our existing customers and had a strong influx of new customers. In Q2, we won our two largest deals ever, where series production will start already in Q3.
In terms of results, we continued our positive trend, mainly due to growth, good cost development as a result of implemented efficiency programmes and a strong development in Western Europe, operating profit increased by SEK 311 thousand to SEK 75 million.
It is also gratifying that cash flow continued to develop strongly during the first half of the year. For the past 12 months, it amounts to SEK 224 million, corresponding to SEK 7.89 per share.
It's very satisfying that despite these uncertain times, we're delivering record levels of sales, operating profit, operating margin and cash flow. NOTE has strong operational momentum, and our order book is continuing to grow. At the end of the first half of the year, it was some 20% higher than last year, which remains optimistic for the future.”, says Johannes Lind-Widestam, President and CEO.
NOTE's Interim Report is available in PDF format from today on the group's website, www.note.eu, and is attached to this press release. NOTE is organising a conference call for analysts, media and investors at 10:00 a.m. CET today, where President and CEO Johannes Lind-Widestam will present the report. The Interim Report for January-September will be presented on 19 October.
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 and the Securities Markets Act. The information was submitted for publication, through the agency of Johannes Lind-Widestam, at 08:30 CET on 14 July 2022.