NOTE's year-end report 2012
Financial performance October-December
- During the fourth quarter, a provision of SEK 12.6 million was made for a potential bad debt. The underlying operating result for the period amounted to SEK 7.2 (15.1) million, corresponding to an operating margin of 3.01% (5.11%).
- Sales totalled SEK 240.4 (297.7) million.
- The operating result amounted to SEK -5.4 (15.1) million.
- The operating margin was -2.31% (5.11%).
- The result after net financial items totalled SEK -6.8 (13.2) million.
- Profit after tax totalled SEK -7.8 (8.6) million, corresponding to SEK -0.27 (0.30) per share.
- Cash flow after investments totalled SEK 26.1 (10.9) million, corresponding to SEK 0.90 (0.38) per share.
Financial performance January-December
- Sales totalled SEK 1 029.2 (1 208.8) million.
- The operating result amounted to SEK 26.0 (64.4) million. The underlying operating result, excluding provisions for potential bad debt, amounted to SEK 38.6 (64.4) million, corresponding to an operating margin of 3.71% (5.31%).
- The operating margin was 2.51% (5.31%).
- Profit after net financial items totalled SEK 19.1 (56.3) million.
- Profit after tax totalled SEK 12.6 (39.4) million, corresponding to SEK 0.44 (1.36) per share. Excluding provision for bad debt, earnings per share totalled SEK 0.86 (1.36) per share.
- Cash flow after investments totalled SEK 97.0 (56.5) million, corresponding to SEK 3.36 (1.96) per share.
Dividends
Based on the strong cash flow during the year, the Board of Directors proposes a dividend to shareholders of SEK 0.75 (0.30) per share.
Significant events after the year-end
Provision for bad debts
Since the first quarter of 2012, NOTE has reported financial problems for one of its customers. The customer's financial situation has deteriorated, so a provision for bad debt of SEK 12.6 million has been made.
NOTE's year-end report for 2012 is available from today in PDF format on the group's website, www.note.eu, and is attached to this press release. The Interim Report for January-March will be presented on 22 April.
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 14:00 on 28 February 2014.