{"id":15508,"date":"2024-10-14T08:00:00","date_gmt":"2024-10-14T06:00:00","guid":{"rendered":"https:\/\/www.note-ems.com\/press-releases\/notes-rapport-for-tredje-kvartalet-2024\/"},"modified":"2025-12-02T08:28:03","modified_gmt":"2025-12-02T07:28:03","slug":"notes-report-for-the-third-quarter-2024","status":"publish","type":"mfn_news","link":"https:\/\/www.note-ems.com\/en\/pressmeddelande\/notes-rapport-for-tredje-kvartalet-2024\/","title":{"rendered":"NOTE's report for the third quarter 2024"},"content":{"rendered":"
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Financial performance in July-September<\/strong>
- Sales totalled SEK 809 (1 034) million. Adjusted for acquisitions and currency effects, organic growth was -20%.
- Operating profit totalled SEK 64 (94) million. Adjusted operating profit totalled SEK 67 (94) million, adjusted for revaluations of operating assets and liabilities in foreign currencies and the year's allocation to the restructuring reserve.
- The operating margin was 8.01% (9.11%). The adjusted operating margin was 8.31% (9.01%), adjusted for currency revaluations and the year's allocation to the restructuring reserve.
- Profit after net financial items totalled SEK 55 (80) million.
- Profit after tax totalled SEK 43 (65) million, corresponding to SEK 1.52 (2.24) per share.
- Adjusted for acquisition-related payments during the quarter, operating cash flow after investments was SEK 157m (34). Total cash flow after investments, including acquisitions, amounted to SEK 120 (-57) million, corresponding to SEK 4.21 (-1.97) per share.<\/p>\n

Financial performance in January-September<\/strong>
- Sales totalled SEK 2,876 (3,163) million. Adjusted for acquisitions and currency effects, organic growth was -11%.
- Operating profit totalled SEK 254 (312) million. Adjusted operating profit totalled SEK 256m (308), adjusted for revaluations of operating assets and liabilities in foreign currencies and the year's allocation to the restructuring reserve.
- The operating margin was 8.81% (9.91%). The adjusted operating margin was 8.91% (9.71%), adjusted for currency revaluations and the year's allocation to the restructuring reserve.
- Profit after net financial items totalled SEK 219 (280) million.
- Profit after tax totalled SEK 175 (229) million, corresponding to SEK 6.06 (7.89) per share.
- Adjusted for acquisition-related payments during the period, operating cash flow after investments was SEK 398 (135) million. Total cash flow after investments, including acquisitions, amounted to SEK 341 (-10) million, corresponding to SEK 11.97 (-0.35) per share.<\/p>\n

CEO comment -We see it as a sign of strength that we achieved an underlying profitability of 8.3% during the quarter. We are proud that, through continuous adjustments to our operations, we manage to maintain high profitability even in times when we do not get the volume we planned for.<\/strong><\/p>\n

\"Third quarter sales did not develop as we had envisaged and were clearly below our expectations. Sales in Q3 totalled SEK 809 million, which corresponds to negative organic growth of 20%. We are far from satisfied with this and we know that we have a stronger customer portfolio than that.<\/em><\/p>\n

We see it as a sign of strength that we achieved an underlying profitability of 8.3% during the quarter. Growth brings profitability and when the growth that our customers have signalled and placed orders for is postponed, it naturally has an impact. Although we have higher ambitions for our operating margin, we are proud that through continuous adjustments to our operations we manage to keep the margin above 8% despite not getting the volume we planned for. We are continuously working on efficiency improvements and see that there is continued potential.<\/em><\/p>\n

It is gratifying that we continue to generate strong cash flows. Operating cash flow totalled SEK 157 million in the third quarter, which was also in line with our plans. For the first three quarters of the year, the corresponding figure is SEK 398 million. We expect strong cash flows going forward too. NOTE's financial position remains very good, with an equity\/assets ratio of SEK 491,000,000 and net debt of SEK 203,000,000 (adjusted for leased properties under IFRS 16).<\/em><\/p>\n

We expect a strong finish to the year and reiterate our guidance of fourth quarter sales of SEK 975-1,025 million with an operating margin of at least 9.51 per cent,\u201d <\/em>says Johannes Lind-Widestam, President and CEO.<\/p>\n

NOTE's Interim Report for Q3 2025 is available from today in PDF format on its website, www.note-ems.com, and is attached to this press release. NOTE is organising a presentation for analysts, media and investors at 10:00 a.m. CET today, where President and CEO Johannes Lind-Widestam will present the report. The year-end report for January-December will be presented on 26 January.<\/p>\n<\/div>\n

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For further information, please contact:<\/strong>
Johannes Lind-Widestam, President and CEO, tel. 070-541 72 22
<\/strong>Frida Frykstrand, Finance Director, tel. 070-462 09 39<\/p>\n<\/div>\n

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About NOTE<\/strong>
NOTE manufactures printed circuit boards (PCBA), sub-assemblies and complete products (box build). NOTE is a competitive electronics manufacturer and a stable business partner to customers with high standards. Its products are found in complex systems for electronic control, monitoring and security, for example.<\/em>
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The business model is based on offering advanced manufacturing, customised logistics solutions and advice at the best possible total cost through long-term customer relationships and partnerships. The customer offering covers the entire product life cycle, from design to aftermarket. Customers are primarily large companies operating on the global market, but also companies with their primary sales in northern Europe.<\/em>
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NOTE is established in Sweden, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months totalled SEK 3,849 million and the group has some 1,450 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit <\/em>www.note-ems.com<\/a><\/em>.<\/em><\/p>\n<\/div>\n

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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 the contact persons set out above, at 2025-04-24 08:00 CEST.<\/em><\/p>\n<\/div>\n

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Attached files<\/strong>
Interim report Q3 2024<\/a><\/p>\n<\/div>\n