Potential bad debt affects NOTE’s profits in the third quarter
One of NOTE’s customers in the UK, active in electric vehicles charging, has applied for administration. Due to this, NOTE takes a cost for a potential bad debt of SEK 30 million for the entire risk exposure that NOTE has towards the company.
This does not affect NOTE’s underlying operations and NOTE’s expects continued high growth for the second half of the year. The Interim Report for January-September will be presented in full on 17 October.
For more information, please contact:
Johannes Lind-Widestam, CEO and President, tel. +46 (0)70 541 7222
Frida Frykstrand, CFO, tel. +46 (0)70 462 0939
NOTE is one of northern Europe’s leading EMS partners, producing 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 3,218 million; the group has approximately 1,400 employees. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note-ems.com.
This information is such 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 Johannes Lind-Widestam, at 3:00 p.m. CET on 12 October 2022.