NOTE's year-end report 2017
Financial performance October-December
- Sales increased by 131,000 tonnes to SEK 325.0 (288.2) million.
- Operating profit increased to SEK 22.6 (16.5) million.
- The operating margin strengthened by 1.3 percentage points to 7.01% (5.71%).
- Profit after net financial items increased to SEK 21.6 (15.1) million.
- Profit after tax increased to SEK 17.8 (12.9) million, corresponding to SEK 0.62 (0.45) per share.
- Cash flow after investments totalled SEK 1.8 (3.2) million, corresponding to SEK 0.06 (0.11) per share.
Financial performance January-December
- Sales totalled SEK 1,175.7 (1,098.1) million, excluding divestments sales increased by 9%.
- Operating profit increased to SEK 93.4 (60.2) million, adjusted for non-recurring items in the first quarter, operating profit improved to SEK 77.7 (60.2) million.
- The operating margin was 7.91% (5.51%), adjusted for non-recurring items in the first quarter, the operating margin strengthened by 1.1 percentage points to 6.61% (5.51%).
- Profit after net financial items increased to SEK 88.8 (54.5) million.
- Profit after tax increased to SEK 72.1 (45.2) million, corresponding to SEK 2.50 (1.57) per share.
- Cash flow after investments increased to SEK 69.7 (40.9) million, corresponding to SEK 2.41 (1.42) per share.
Dividends
The Board of Directors proposes that the dividend to shareholders be increased to SEK 1.00 (0.70) per share, corresponding to SEK 28.9 (20.2) million. The Annual General Meeting will be held on 26 April.
CEO commentary
”2017 was a strong year for NOTE. We won the confidence of new customers while deepening partnerships within our existing customer base. In the year, sales in our units increased by 9%, and we achieved growth of 13% in the fourth quarter. At the end of the year, our order books were more than T€201,000 above the previous year's level.
Increased sales, implemented cost efficiencies and a strong performance in our Western European units contributed to a strengthening of our profitability. In the fourth quarter, our operating margin improved by 1.3 percentage points to 7.01 per cent.
We are financially very well positioned for the future - our balance sheet is one of the strongest in the industry. At the end of the year, we had an equity/assets ratio of 491 T€3, well above our target of 301 T€3”, says Per Ovrén, President and CEO.
NOTE's year-end report for 2017 is available from today in PDF format on its website, www.note.eu, and is attached to this press release. The Interim Report for January-March will be presented on 26 April.
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 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. The information was submitted for publication, through the agency of Per Ovréns, at 08:30 CET on 6 February 2018.</em