NOTE’s Interim Report January–March 2016

Financial performance January–March
• Sales increased by 1% to SEK 279.1 (275.3) million.
• Operating profit increased to SEK 14.2 (11.9) million.
• Operating margin expanded by 0.8 percentage points to 5.1% (4.3%).
• Profit after financial items increased to SEK 12.9 (11.0) million.
• Profit after tax increased to SEK 10.2 (9.3) million, corresponding to SEK
0.35 (0.32) per share.
• Cash flow after investments increased to SEK 27.1 (21.8) million, or SEK 0.94
(0.76) per share.
CEO’s comment
”NOTE is one of the most competitive electronics manufacturers in the Nordics.
In the first quarter we experienced continued positive development with several
new customers, improved profitability and strong cash flow.
Increased sales and an expanded service content, in combination with continued
cost efficiency, resulted in operating profit increasing SEK 2.3 million to SEK
14.2 million, and an expansion of the operating margin by 0.8 percentage points
to 5.1%. It is also satisfying to see that after generating fourth-quarter cash
flow of SEK 25.4 million, we achieved a strong cash flow again in the first
quarter, of SEK 27.1 million.
Our order book, suggests continued positive sales performance. Additionally,
NOTE is prepared to play a more active role in the future structural
transformation of the European EMS sector–my ambition is to further increase
customer value and enhance our profitable sales growth”, says Stefan Hedelius,
CEO and President.
NOTE’s Interim Report for January–March is now available in PDF format on the
corporate web site, www.note.eu, and attached to this message. The Interim
Report for January–June will be published on 18 July.
For more information, please contact:
Stefan Hedelius, CEO and President, tel. +46 (0)8 568 99006, +46 (0)76 100 0731
Henrik Nygren, CFO, tel. +46 (0)8 568 99003, +46 (0)70 977 0686
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 whole product
lifecycle, from design to after-sales. NOTE has a presence in Sweden, Norway,
Finland, the UK, Estonia and China. Net sales in the last 12 months were SEK
1,125 million and the group has approximately 1,000 employees. NOTE is listed on
Nasdaq Stockholm. For more information, please go to www.note.eu.
NOTE AB (publ) discloses the information provided herein pursuant to the
Securities Markets Act. The information was submitted for publication on 19
April 2016 at 8:30 a.m.