NOTE Reports Strong 1H 2017 Results


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EMS firm NOTE has announced sales of SEK 308.4 million for the second quarter of 2017, up by 9% year-on-year. Excluding divestments, the company’s sales increased by 12%. Operating profit, meanwhile, rose to SEK 20.3 million. Profit after financial items increased to SEK 19.3 million, and profit after tax went up to SEK 11.6 million.

For the first half of the year, NOTE reports total sales of SEK 585.5 million, up by 4% year-on-year. Excluding divestments, sales increased by 8%. Meanwhile, operating profit rose to SEK 50.7 million, and adjusted for non-recurring items in the first quarter, operating profit increased to SEK 35.0 (29.6) million. Profit after financial items increased to SEK 48.4 million, and profit after tax was up to SEK 38.5 million.

"I am delighted that our market efforts start to show results—in Q2, sales in our units increased by 12%. We still win new customers' confidence and new exciting projects to our already strong customer base," says Per Ovrén, CEO and president of NOTE. "Our recently announced collaboration with innovator myFC, as well as several ongoing projects in the Internet of Things, represent great growth opportunities for us. Growth combined with cost reductions means that we will continue to strengthen our profitability. During the second quarter, our operating margin improved by 1.1 percentage points to 6.6%. We are financially well-equipped for the future–our balance sheet is one of the strongest in the industry with an equity ratio of just over 46%."

About NOTE

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 complete product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Finland, the UK, Estonia and China. Net sales in the last 12 months were SEK 1,122 million; the group has approximately 900 employees. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note.eu.

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