NOTE’s Interim Report January–June 2017

Financial performance April–June
Sales increased by 9% to SEK 308.4 (282.4) million. Excluding divestments, sales increased by 12%.
• Operating profit rose to SEK 20.3 (15.4) million.
• Operating margin expanded by 1.1 percentage points to 6.6% (5.5%).
• Profit after financial items increased to SEK 19.3 (13.6) million.
• Profit after tax rose to SEK 11.6 (11.0) million, corresponding to SEK 0.40 (0.38) per share, of which SEK -0.14 (-) consisted of write-down of foreign deferred taxes.
• Cash flow after investments amounted to SEK 1.3 (4.1) million, or SEK 0.05 (0.14) per share.

Financial performance January–June
Sales increased by 4% to SEK 585.5 (561.5) million. Excluding divestments, sales increased by 8%.
• Operating profit rose to SEK 50.7 (29.6) million, and adjusted for non-recurring items in the first quarter, operating profit increased to SEK 35.0 (29.6) million.
• Operating margin was 8.7% (5.3%), adjusted for non-recurring items in the first quarter, operating margin expanded by 0.7 percentage points to 6.0% (5.3%).
• Profit after financial items increased to SEK 48.4 (26.5) million.
• Profit after tax was up to SEK 38.5 (21.2) million, corresponding to SEK 1.33 (0.73) per share.
• Cash flow after investments amounted to SEK 79.1 (31.2) million, or SEK 2.74 (1.08) per share.

CEO’s comment
" I am delighted that our market efforts start to show results–in Q2 sales in our units increased by 12%. We still win new customers' confidence and new exciting projects to our already strong customer base. Our recently announced collaboration with innovator myFC, as well as several ongoing projects in the Internet of Things, represent great growth opportunities for us. Growth combined with cost reductions means that we will continue to strengthen our profitability. During the second quarter, our operating margin improved by 1.1 percentage points to 6.6%. We are financially well-equipped for the future–our balance sheet is one of the strongest in the industry with an equity ratio of just over 46%," says Per Ovrén, CEO and President.

NOTE’s Interim Report for January–June is now available in PDF format on the corporate web site, www.note.eu, and attached to this message. The Interim Report for January–September will be published on 17 October.

F
or more information, please contact:
Per Ovrén, CEO and President, tel. +46 (0)73 440 7727
Henrik Nygren, CFO, tel. +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 1,122 million; the group has approximately 900 employees. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note.eu.

This information is information that NOTE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of Per Ovrén, at 8:30 a.m. CET on 17 July 2017.

   

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About Us

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 whole product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Finland, the UK, Estonia and China. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note.eu.