{"id":15570,"date":"2022-04-20T08:30:00","date_gmt":"2022-04-20T06:30:00","guid":{"rendered":"https:\/\/www.note-ems.com\/press-releases\/notes-delarsrapport-januari-mars-2022\/"},"modified":"2025-12-02T08:28:09","modified_gmt":"2025-12-02T07:28:09","slug":"notes-interim-report-january-march-2027","status":"publish","type":"mfn_news","link":"https:\/\/www.note-ems.com\/en\/pressmeddelande\/notes-delarsrapport-januari-mars-2022\/","title":{"rendered":"NOTE's Interim Report January-March 2022"},"content":{"rendered":"

Financial performance January-March <\/span><\/span><\/strong>
\n- <\/span>Sales increased by 641 thousand tonnes to SEK 821 million (502). Adjusted for acquisitions and currency effects, growth was 351 thousand SEKt. <\/span>
\n- Operating profit increased by 90% to SEK 76 (40) million.
\n- The operating margin strengthened by 1.3 percentage points to 9.31% (8.01%).
\n- Profit after net financial items increased by SEK 851 thousand to SEK 69 (38) million.
\n- Profit after tax increased by 83% to SEK 56 (31) million, corresponding to SEK 1.95 (1.08) per share.
\n- Cash flow after investments totalled SEK 9 (4) million, corresponding to SEK 0.31 (0.14) per share.<\/span><\/span><\/span><\/span><\/span><\/p>\n

CEO commentary - New record quarter with strong growth, 90% increased operating profit and very good outlook<\/span><\/span><\/span><\/strong><\/em><\/span><\/span><\/span><\/span>
\n\u201dDespite challenges caused by the pandemic and continued shortages on the component market, NOTE increased sales by SEK 641,000,000 to a new record level of SEK 821,000,000. Adjusted for acquisitions and currency effects, growth was SEK 351,000,000. We continue to win new business in a convincing manner. The order backlog for comparable units (excluding UK iPRO) and for delivery in the next three quarters was 461,000,000 tonnes higher than at the end of Q1 last year. We are growing significantly in all home markets and in all customer segments. In Greentech, which accounted for 24% of sales, growth was as high as 90%. This includes several fast-growing customers in the green technology shift, including products for energy optimisation and charging posts for electric cars. <\/span><\/span><\/em><\/span><\/p>\n

In terms of profitability, our strong trend continued. Operating profit increased by 901,000 tonnes to SEK 76 million, resulting in a strengthening of the operating margin by 1.3 percentage points to 9.31,000 tonnes, our highest level ever for Q1. Despite inventory increases due to growth and our direct delivery delays due to the component shortages doubling to approximately SEK 100 million, cash flow, after investments, improved to SEK 9 (4) million. Our financial situation remains very strong with an equity ratio of 41%.<\/span><\/span><\/em><\/span><\/p>\n

We have a fantastic order situation and in March we reached our highest sales ever for a single month. Despite the challenges in the component market, we believe that the opportunities are very good to achieve growth of at least 30% in 2022 and continue our positive profitability trend. We are well in line with our target to reach sales of SEK 5bn by 2025.\u201d, <\/span><\/span><\/em>says Johannes Lind-Widestam, President and CEO. <\/span><\/span><\/span><\/span><\/span><\/p>\n

NOTE's Interim Report for the first quarter 2023 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 Interim Report for January-June will be presented on 13 July. <\/span><\/span><\/span><\/p>\n

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

About NOTE
\nNOTE is one of northern Europe's leading partners for electronics manufacturing. NOTE manufactures printed circuit boards (PCBA), 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, Finland, the UK, Estonia, Bulgaria and China. Sales in the last 12 months were SEK 3,687 million and the group has some 1,400 employees. NOTE is listed on Nasdaq Stockholm. For more information, please visit <\/span><\/span><\/em>www.note-ems.com<\/span><\/span><\/em><\/a>.<\/span><\/span><\/em><\/span><\/span><\/span><\/p>\n

This information is information that NOTE AB 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 08:30 CET on 20 April 2022.<\/span><\/span><\/em><\/span><\/span><\/span><\/span><\/span><\/p>\n

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Attached files<\/strong>
Interim report Q1 2022<\/a>
Press release<\/a><\/p>\n<\/div>\n