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 northern Europe's leading EMS partners, producing 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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