Very strong first six months
In today’s interim report for the second quarter, Nolato has reported very strong growth and higher earnings. Sales rose by 58% to SEK 878 million (557). Operating income (EBITA) was SEK 69 million (39). Earnings per share were SEK 1.98 (1.10).
“A significant increase in demand, combined with previous efficiency improvement measures, has resulted in an excellent quarter,” says Hans Porat, President and CEO of Nolato.
Nolato Medical’s sales totalled SEK 185 million (177), an increase of 5%. Operating income (EBITA) was SEK 24 million (23). The EBITA margin was 13.0% (13.0).
“Nolato Medical’s growth is in line with the market, and a healthy margin has been maintained.”
Nolato Telecom’s sales rose by 137% to SEK 434 million (183). Operating income (EBITA) rose to SEK 34 million (-3 excluding non-recurring items). The EBITA margin was 7.8% (-1.6 excluding non-recurring items).
“Volumes were high at Nolato Telecom during the period as a result of customers building up stocks in connection with product launches. A new product mix and high levels of capacity utilisation have had a positive impact on the margin.”
Nolato Industrial’s sales rose by 31% to SEK 259 million (197). Operating income (EBITA) was SEK 23 million (5 excluding non-recurring items). The EBITA margin was a strong 8.9% (2.5 excluding non-recurring items).
“Demand rose continuously within most customer segments, and the full effect of earlier restructuring measures was realised,” concludes Mr Porat.
Nolato continues to enjoy a strong financial position. Net debt at the turn of the half-year stood at SEK 43 million (72), with an equity/assets ratio of 49% (56). Cash flow after investments was SEK 71 million (91).
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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, telecom, hygiene, automotive products and other selected industrial sectors. The average number of employees during the first six months 2010 was 7,855.
Nolato’s shares are quoted on the Nasdaq OMX Nordic Exchange, Stockholm Small Cap, Information Technology.
www.nolato.com
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