Year-end report 2008 - Adapting to our future Financial Performance 2008 (Jan-Dec) • Sales amounted to SEK 1,709.5 (1,743.8) m • Operating loss of SEK -3.8 (111.9) m. Profit was charged with restructuring-related costs of some SEK 80 m • The operating margin amounted to -0.2% (6.4%) • Profit after financial items was SEK -14.4 (103.8) m • The loss after tax was SEK -13.1 (78.2) m, or SEK -1.36 (8.13) per share • Cash flow was SEK 25.1 (-0.5) m, or SEK 2.61 (-0.05) per share • Dividends—the Board of Directors is proposing to the AGM (Annual General Meeting) that no dividends are paid for the financial year 2008. Financial Performance Q4 (Oct-Dec) • Sales amounted to SEK 414.5 (458.6) m • Operating loss of SEK -47.9 (28.5) m. Profit was charged with restructuring-related costs of some SEK 50 m • Operating margin amounted to -11.6% (6.2%) • The loss after financial items was SEK -50.4 (26.6) m • The loss after tax was SEK -36.6 (21.0) m, or SEK -3.80 (2.18) per share • Cash flow was SEK -6.2 (-34.8) m, equivalent to SEK -0.64 (-3.61) per share Significant events in the year • Methodical focus on Nearsourcing—measures implemented to transfer labour-intensive production and sourcing services to cost-efficient countries, reducing headcount in Sweden by some 400 staff, or just over 50%. Most lay-offs will occur in the first half-year 2009. • UK acquisition—new Nearsourcing Centre for long-term sales growth started on the UK market. • Swedish mechanical engineering services acquisition—valuable mechanical engineering know-how added close to customers to develop advanced prototypes and for shorter production runs.• Acquisition in Norway—start-up of Nearsourcing Centre for additional growth on the Norwegian market. Significant events after the end of the year • Market breakthrough for Nearsourcing—building on its collaboration with the Nearsourcing Centre in Oslo, Kongsberg Defence & Aerospace of Norway has decided to utilise NOTEfied when developing new products. NOTE's Year-end Report for January-December 2008 is now available in PDF format on the corporate web site, www.note.eu and attached to this message. The Annual Report for 2008 will be published on 7 April. The Interim Report for January-March 2009 will be published on 21 April 2009. For more information, please contact: Arne Forslund, CEO and President, tel. +46 (0)8 568 99007, +46 (0)70 547 7477 Henrik Nygren, CFO, tel. +46 (0)8 568 99003, +46 (0)70 977 0686 About NOTE “Our business concept is to produce electronics from design to after-sales, close to our customers.” NOTE is one of the Nordic region's leading service providers in production and logistics relating to electronics-based products. NOTE has a presence in Sweden, Norway, Finland, the UK, Estonia, Lithuania, Poland and China. In 2008, net sales were SEK 1,710 m; the group has approximately 1,200 employees. For more information, go to www.note.eu
Year-end report 2008 - Adapting to our future
| Source: NOTE AB