© Note Electronics Production | April 25, 2019
NOTE's saw its sales increase 32% in 1Q19
“After a successful 2018 for NOTE, the development during the first quarter can be considered to be of record-breaking character,” says CEO and President, Johannes Lind-Widestam.
The Swedish EMS provider's first quarter sales increased with 32% to SEK 405 million (EUR 38.10 million) from SEK 308 million (EUR 28.98 million) during the same period last year. Operating profit increased with 58% to SEK 27 million (EUR 2.54 million) during the quarter, compared with SEK 17 million (EUR 1.59 million) for the comparison period. Operating margin expanded by 1.1 percentage points to 6.6%, compared with 5.5%. Profit after financial items increased by 64% to SEK 25 million (EUR 2.35 million), compared to SEK 15 million (EUR 1.41 million) for the same period last year.. Profit after tax improved with 64% to SEK 20 million (EUR 1.88 million), compared to SEK 12 million (EUR 1.12 million). “After a successful 2018 for NOTE, the development during the first quarter can be considered to be of record-breaking character. The sales increased with 32% to SEK 405 million, of which our newly acquired company Speedboard Assembly Services contributed approximately half of the growth,” says Johannes Lind-Widestam, in a press release. “We are financially well equipped for the future. We have several larger, exciting customer projects under ramp up and our order backlog grew during the period to a record high level. I therefore see good opportunities to continue our positive development,” Lind-Widestam, continues.