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Electronics Production | August 10, 2005

12 Million EUR in loss for NOTE

Note's net turnover increased this year's first half by 27% to 79.5 Million Euros. The company posted a negative result of -12 Million Euros.

During autumn 2004 and first quarter 2005 NOTE went through an extensive restructuring programme including moving of volume manufacturing to Central Europe and the establishing of a new material supplying unit in Gdansk, Poland. The total of the restructuring costs reached the amount of about 14 Million Euros and charged the result of this years first quarter. For the year's second quarter the company posted a profit of 2 Million Euros. In August, cooperation was initiated with Jaltek Systems, which is active in Great Britain. In addition, a representation office was established in southern China in order to make the purchasing process of equipment for NOTE'S units in Europe more efficient. "During the first half of the year we have worked with the organization and we can now state that the change process is fully implemented, both in regard to actions and costs. We have a positive cash flow and can also state that we, excluding costs of a one-time character, had a profit of approximately MEUR 2 for the second quarter," says Kjell-Åke Andersson, CFO.
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