Year-end report 2008 - Adapting to our future

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