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Electronics Production |
Note: 'Demand lower than anticipated'
The first half-year featured continued poor demand on several of NOTE’s domestic markets.
Uncertainty on several final markets caused delays to deals and stock redimensioning by several NOTE customers. As a consequence, volumes on several ongoing customer assignments reduced. Sales in the period were SEK 450.9 (554.8) million, corresponding to a 19% decrease.
Demand in the first half-year was lower than anticipated. No deliveries were shipped to the customer that had the provision for doubtful debt made in the final quarter of the previous year. Approximately 6 percentage points of the decrease in sales were related to financial difficulties for customers. Just over 4 percentage points consisted of lower volumes to Swedish and UK customers with project-oriented sales, while sales performance in Finland and Norway
was more stable.
Financial Performance January–June
- Sales were SEK 450.9 (554.8) million.
- Operating profit was SEK 3.9 (20.9) million.
- The operating margin was 0.9% (3.8%).
- Profit after financial items was SEK 1.3 (17.6) million.
- Profit after tax was SEK 0.9 (13.9) million, corresponding to SEK 0.03 (0.48) per share.
- Cash flow after investments was SEK -6.0 (49.3) million, or SEK -0.21 (1.71) per share.
- Sales were SEK 236.1 (280.1) million.
- Operating profit was SEK 3.6 (10.0) million.
- Operating margin was 1.5% (3.6%).
- Profit after financial items was SEK 2.6 (8.9) million.
- Profit after tax was SEK 2.0 (6.8) million, corresponding to SEK 0.07 (0.23) per share.
- Cash flow after investments was SEK 2.0 (13.0) million, or SEK 0.07 (0.45) per share.