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© roza dreamstime.com Electronics Production | October 20, 2014

Strong Q3 for Swedish Note

Swedish EMS-provider, Note, continues to record good numbers for the year. During the third quarter. The company recorded higher sales and stronger results.
Sales amounted to SEK 235.5 (200.8) million during the quarter. And the company's operating profit landed on SEK 10.4 (-4.6) million. The operating margin was 4.4% (-2.3%).

"We have now achieved organic sales growth four consecutive quarters. Our sales so far this year has increased by 10% to SEK 715.9 (651.7) million. Projected-oriented business boosted sales growth in the third quarter to just over 17%. I consider that the sales growth in the year clearly shows that we are strengthening our position on a relatively stable European market”, says Peter Laveson, President and CEO.

Operating profit for the first nine months of the year was SEK 23.7 (-0.7) million, corresponding to an operating margin of 3.3% (-0.1%). For the third quarter the operating margin improved to 4.4% (-2.3%).

“Mainly as a result of the sales growth, our cash flow after investments was negative for the first nine months of the year, SEK -8.3 million. Our balance sheet remains solid—the equity to assets ratio was almost 45% at the end of the period”, says Peter Laveson concludes.

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SEK 1 = EUR 0.10913 (oanda 2014-10-20)

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