Q3 - Continued high rate of change
Financial performance January-September
- Sales totalled SEK 1 295.0 (1 285.1) million
- Operating profit totalled SEK 44.1 (83.4) million, with costs of approximately
30 million for the ongoing restructuring
- The operating margin amounted to 3.41% (6.51%)
- Profit after net financial items totalled SEK 36.0 (77.2) million
- Profit after tax totalled SEK 23.4 (57.3) million, corresponding to SEK 2.43 (5.95) per share
- Cash flow amounted to SEK 31.3 (34.3) million, corresponding to SEK 3.25 (3.57) per share
Financial performance July-September
- Sales totalled SEK 398.5 (389.9) million
- Operating profit totalled SEK 14.2 (28.1) million, with costs of approximately
10 million for the ongoing restructuring
- The operating margin amounted to 3.61% (7.21%)
- Profit after net financial items totalled SEK 12.0 (25.7) million
- Profit after tax totalled SEK 7.7 (18.9) million, corresponding to SEK 0.80 (1.96) per share
- Cash flow amounted to SEK 1.9 (-39.1) million, corresponding to SEK 0.20 (-4.06) per share
Significant events January-September
- Continued strategic transformation - measures taken to relocate labour-intensive manufacturing and
sourcing services to cost-effective countries, which will reduce the number of employees in Sweden by
200 people or just over 25%
- Acquisition in the UK - establishment of a new Nearsourcing centre for long-term sales growth in the UK
English market
- Acquisition of Swedish mechanical supplier - valuable mechanical expertise brought close to customers for
developing advanced prototypes and manufacturing small series
- New share-based incentive programme - 50 senior executives have subscribed to the programme
Significant events after the end of the period
- Consistent, methodical approach to Nearsourcing - measures taken in October to reduce
the number of employees in Sweden by about 100 additional people
NOTE's Interim Report for January-September is available as of today as a PDF file on the group's website, www.note.eu, and is attached to this press release.
The year-end report for January-December will be presented on 11 February 2009.
For further information, please contact:
Arne Forslund, President and CEO, tel. 08-568 990 07, 070-547 74 77
Henrik Nygren, Chief Financial Officer, tel. 08-568 990 03, 070-977 06 86