NOTE's year-end report: "2011 - A successful year for NOTE"
Financial performance October-December
- Sales totalled SEK 297.7 (366.8) million.
- Operating profit totalled SEK 15.1 (12.2) million.
- The operating margin was 5.11% (3.31%).
- Profit after net financial items totalled SEK 13.2 (8.1) million.
- Profit after tax totalled SEK 8.6 (2.0) million, corresponding to SEK 0.30 (0.07) per share.
- Cash flow after investments totalled SEK 10.9 (40.2) million, corresponding to SEK 0.38 (1.39) per share.
Financial performance January-December
- Sales totalled SEK 1 208.8 (1 210.7) million.
- Operating profit totalled SEK 64.4 (-48.2) million. The result for the first three quarters of last year included restructuring costs and other non-recurring costs of approximately SEK -47 million.
- The operating margin amounted to 5.31 FTEs (-4.01 FTEs). Adjusted for the previous year's non-recurring costs of approximately SEK -47 million, the operating margin increased by 5.4 percentage points.
- Profit after net financial items totalled SEK 56.3 (-59.4) million.
- Profit after tax totalled SEK 39.4 (-62.0) million, corresponding to SEK 1.36 (-2.55) per share.
- Cash flow after investments improved by SEK 70.1 million to SEK 56.5 (-13.6) million, corresponding to SEK 1.96 (-0.56) per share.
- Dividends - The Board of Directors proposes a dividend to shareholders of SEK 0.30 (0.00) per share. The Annual General Meeting will be held on 25 April 2012.
Significant events during the year
Sale of NOTE Tauragé UAB
The Extraordinary General Meeting on 21 June 2011 approved the Board's proposal to sell all shares in NOTE Tauragé UAB, Lithuania. As part of the restructuring measures in 2010, electronics production at NOTE Tauragé ceased at year-end 2010.
Reinforcement of Industrial Plants
During the autumn, the commercial capacity of Industrial Plants was strengthened, with the ambition of creating the conditions for sales growth by enabling business directly from Industrial Plants in Estonia and China.
NOTE's year-end report for 2011 is available in PDF format from today 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 25 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 the Nordic region's leading manufacturing partners for outsourced 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 2011 were SEK 1,209 million and the group has some 950 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.