NOTE’s Year-end Report 2016

Financial performance October–December
• Sales were SEK 288.2 (305.2) million, excluding divestments sales decreased by 1%.
• Operating profit rose to SEK 16.5 (10.5) million.
• Operating margin expanded by 2.3 percentage points to 5.7% (3.4%).
• Profit after financial items increased to SEK 15.1 (9.2) million.
• Profit after tax was up to SEK 12.9 (7.0) million, corresponding to SEK 0.45 (0.24) per share.
• Cash flow after investments was SEK 3.2 (25.4) million, or SEK 0.11 (0.88) per share.

Financial performance January–December
• Sales were SEK 1,098.1 (1,121.5) million, excluding divestments sales increased by 1%.
• Operating profit rose to SEK 60.2 (45.2) million.
• Operating margin expanded by 1.5 percentage points to 5.5% (4.0%).
• Profit after financial items increased to SEK 54.5 (39.8) million.
• Profit after tax was up to SEK 45.2 (34.6) million, corresponding to SEK 1.57 (1.20) per share.
• Cash flow after investments was SEK 40.9 (5.2) million, or SEK 1.42 (0.18) per share.

The Board of Directors is proposing a dividend to shareholders of SEK 0.70 (0.70) per share, or SEK 20.2 (20.2) million. The Annual General Meeting will be held on 20 April.

CEO’s comment
"2016 was another strong year for NOTE with increased profitability and improved cash flow. An increased service content in our sales, in combination with a number of successful cost measures, contributed to an increase of Operating profit of SEK 15.0 million to SEK 60.2 million. Our Operating margin expanded 1.5% to 5.5%. Cash flow improved SEK 35.7 million to SEK 40.9 million.

During the year we established more than 40 new customer relations. We perceive continued positive potential for increasing sales and market shares over time, both from existing and new customers, as our services include first-class quality and delivery precision", says Stefan Hedelius, CEO and President.

NOTE’s Year-end Report for 2016 is now available in PDF format on the corporate web site, www.note.eu, and attached to this message. The Interim Report for Q1 will be published on 20 April.

For more information, please contact:
Stefan Hedelius, CEO and President, tel. +46 (0)76 100 0731
Henrik Nygren, CFO, tel. +46 (0)8 568 99003, +46 (0)70 977 0686

About NOTE
NOTE is one of the leading Northern European manufacturing and logistics partners for production of electronics-based products. NOTE produces PCBAs, subassemblies and box build products. NOTE's offering covers the complete product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Finland, the UK, Estonia and China. Net sales in the last 12 months were SEK 1,098 million; the group has approximately 1,000 employees. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note.eu.

NOTE AB (publ) discloses the information provided herein pursuant to the Market Abuse Regulation and Nasdaq Stockholm’s Rule book for Issuers. The information was submitted for publication on 7 February 2017 at 8:30 a.m. (CEST).


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