Positive development for both Nolato Medical and Nolato Industrial
In today’s interim report for the second quarter, Nolato presents a positive development for the business areas Nolato Medical and Nolato Industrial, while volumes within Nolato Telecom remain weak.
The Group’s sales totalled SEK 766 million (878), operating income (EBITA) amounted to SEK 53 million (69), while earnings per share were SEK 1.33 (1.98).
Nolato Medical experienced good volume development and increased its turnover by 27% to SEK 235 million (185). Operating income (EBITA) rose to SEK 29 million (24).
“The business has developed well in line with the growth in the market,” commented Nolato’s CEO Hans Porat. “A year after the acquisition of Nolato Contour in the USA, we can also see that this was successful and the company is developing as planned.”
Nolato Telecom’s sales fell by 43% to SEK 249 million (434) due to continued weak demand. Operating income (EBITA) dropped to SEK 4 million (34).
“A number of new projects have been deferred or cancelled, partly because of a shortage of electronic components as a result of the natural disaster in Japan,” says Hans Porat.
Nolato Industrial’s sales increased by 9% to SEK 283 million (259) and operating income (EBITA) rose to SEK 27 million (23).
“Strong demand, advanced market positions and new products, combined with a high level of capacity utilisation, drove the increase,” says Hans Porat. The business area has also established a small production unit in Romania. Production has commenced and is progressing according to plan.
Nolato’s financial position remains strong. At the end of the first six months of the year, net debt totalled SEK 111 million (43), while the equity/assets ratio was 50% (49). Cash flow for the first six months amounted to SEK 75 million (71).
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For further information, please contact:
Hans Porat, President and CEO, telephone 46 431 442294
Per-Ola Holmström, Executive Vice President and CFO, telephone 46 431 442293
The Nolato Group is a high-tech developer and manufacturer of polymer product systems for leading customers in medical technology, telecommunications, hygiene, automotive products and other selected industrial sectors.
Nolato’s shares are quoted on the NASDAQ OMX Nordic Exchange, Stockholm Mid Cap segment, where they are included in the information technology sector. www.nolato.com
Nolato AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 3.00 pm on 20 July 2011.
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