Q3 – Sustained high rate of change

Financial Performance January–September
• Sales amounted to SEK 1,295.0 (1,285.1) m
• Operating profit was SEK 44.1 (83.4) m. Profit was reduced by costs of approximately SEK 30 m for
the ongoing restructuring package
• The operating margin amounted to 3.4% (6.5%)
• Profit after financial items was SEK 36.0 (77.2) m
• Profit after tax was SEK 23.4 (57.3) m, or SEK 2.43 (5.95) per share
• Cash flow was SEK 31.3 (34.3) m, or SEK 3.25 (3.57) per share

Financial Performance July–September
• Sales amounted to SEK 398.5 (389.9) m
• Operating profit was SEK 14.2 (28.1) m. Profit was reduced by costs of approximately SEK 10 m for
the ongoing restructuring package
• The operating margin amounted to 3.6% (7.2%)
• Profit after financial items was SEK 12.0 (25.7) m
• Profit after tax was SEK 7.7 (18.9) m, or SEK 0.80 (1.96) per share
• Cash flow was SEK 1.9 (-39.1) m, or SEK 0.20 (-4.06) per share

Significant events January–September
• Strategic change process continues—measures implemented to transfer labour-intensive production
and sourcing services to cost-efficient countries, which will downsize headcount in Sweden by 200
staff, or just over 25%
• UK acquisition—new Nearsourcing Centre for long-term sales growth started in the UK
• Swedish mechanical engineering services acquisition—valuable mechanical engineering know-how
added close to customers to develop advanced prototypes and for shorter production runs
• New share-related incentive scheme—50 senior executives have subscribed for the scheme

Significant events after the end of the period
• Consistent, methodical focus on Nearsourcing–measures implemented in October to downsize
employee headcount in Sweden by a further total of approximately 100 staff

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

The Year-end Report for January–December will be published on 11 February 2009.

For more information, please contact:
Arne Forslund, CEO and President, tel. +46 (0)8 568 99007, +46 (0)70 547 7477
Henrik Nygren, CFO, tel. +46 (0)8 568 99003, +46 (0)70 977 0686

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.

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