NOTE's year-end report 2016
Financial performance October-December
- Sales totalled SEK 288.2 (305.2) million, excluding divestments sales decreased by 1%.
- Operating profit increased to SEK 16.5 (10.5) million.
- The operating margin strengthened by 2.3 percentage points to 5.71% (3.41%).
- Profit after net financial items increased to SEK 15.1 (9.2) million.
- Profit after tax increased to SEK 12.9 (7.0) million, corresponding to SEK 0.45 (0.24) per share.
- Cash flow after investments totalled SEK 3.2 (25.4) million, corresponding to SEK 0.11 (0.88) per share.
Financial performance January-December
- Sales totalled SEK 1,098.1 (1,121.5) million, excluding divestments sales increased by 1%.
- Operating profit increased to SEK 60.2 (45.2) million.
- The operating margin strengthened by 1.5 percentage points to 5.51% (4.01%).
- Profit after net financial items increased to SEK 54.5 (39.8) million.
- Profit after tax increased to SEK 45.2 (34.6) million, corresponding to SEK 1.57 (1.20) per share.
- Cash flow after investments increased to SEK 40.9 (5.2) million, corresponding to SEK 1.42 (0.18) per share.
Dividends
The Board of Directors proposes that a dividend of SEK 0.70 (0.70) per share, corresponding to SEK 20.2 (20.2) million, be paid to shareholders. The Annual General Meeting will be held on 20 April.
CEO commentary
"2016 was another strong year for NOTE, with increased profitability and stronger cash flow. Increased service content in sales, combined with several successful cost initiatives, helped operating profit improve by SEK 15.0 million to SEK 60.2 million. We strengthened our operating margin by 1.5 percentage points to 5.5%. Cash flow improved by SEK 35.7 million to SEK 40.9 million.
During the year we have established more than 40 new customer relationships. Over time, we see good opportunities to increase our market shares, with both existing and new customers, as our services maintain top-class quality and delivery precision," says Stefan Hedelius, President and CEO.
NOTE's year-end report for 2016 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 Q1 will be presented on 20 April.
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 9 March 2017.