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Strong growth and increased earnings across all business areas

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Today’s report by Nolato for the first quarter of 2018 shows continued very strong performance.

  • Sales increased to SEK 2,039 million (1,370)
  • Operating profit (EBITA) rose to SEK 264 million (146) incl. non‐recurring items of SEK 20 million (0)
  • The EBITA margin amounted to 12.9% (10.7), or 12.0% (10.7) excluding non‐recurring items
  • Profit after tax was SEK 206 million (108)
  • Basic earnings per share increased to SEK 7.83 (4.11)
  • Cash flow after investments was SEK 187 million (3)
  • Sustained strong financial position

Adjusted for currency, Group sales growth for the quarter was an exceptionally strong 55%.

Medical Solutions sales rose to SEK 532 million (487), which, adjusted for currency, is a strong increase of 10%. Operating profit (EBITA) was SEK 69 million (65), with an EBITA margin of 13.0% (13.3).

“Volumes have mainly increased within Medical Devices, with new customer projects making a positive contribution,” noted Nolato President and CEO Christer Wahlquist. “Strong growth has meant that, as per previously communicated decisions, we are expanding production capacity in Hungary, Sweden and Switzerland. These expansions are proceeding according to plan and are expected to be completed by around year‐end.”

Integrated Solutions sales rose to SEK 939 million (399); adjusted for currency, the increase was an exceptionally strong 157%. Operating profit (EBITA) rose to SEK 120 million (38) and the EBITA margin to a very strong 12.8% (9.5).

“Very high volumes continued to be supplied for the vaporiser heating products (VHP) product area,” commented Christer Wahlquist. “These high volumes are expected to continue in the second quarter.”

Industrial Solutions sales increased to SEK 568 million (488); adjusted for currency, sales grew by a strong 16%. Operating profit (EBITA) increased to SEK 57 million (48), while the EBITA margin was 10.0% (9.8).

“Volumes have developed well across almost all product areas, particularly automotive and hygiene,” noted Christer Wahlquist. “Advanced market positions and a sustained high level of invoicing for development work and production equipment for forthcoming production contributed to the strong growth.”

Nolato’s financial position remains strong. Cash flow, including non‐recurring items, increased to SEK 187 million (3). The equity/assets ratio was 47% (49) and net financial assets amounted to SEK 40 million (net liabilities of SEK –410 million).

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For further information, please contact:
Christer Wahlquist, President and CEO, +46 (0)705 804848
Per‐Ola Holmström, CFO, +46 (0)705 763340

Nolato is a Swedish group with operations in Europe, Asia and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, consumer electronics, telecom, automotive, hygiene and other selected industrial sectors. Nolato’s shares are listed on Nasdaq Stockholm in the Mid Cap segment, where they are included in the Industrials sector.

This information is information that Nolato AB is obliged to publish pursuant to the EU Market Abuse Regulation. This information is submitted through the agency of the above contact persons for publication on 24 April 2018 at 2.30 pm CET.

www.nolato.com

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Interim report Nolato

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