© NOTE Electronics Production | October 22, 2019
NOTE reports growth across the board
The Swedish EMS provider is reporting record growth, a stronger operating margin and about 30% larger order backlog during its third quarter.
Sales during the company’s third quarter increased 34% to SEK 434 million (EUR 40.37 million) from SEK 324 million (EUR 30.13 million) – if we exclude acquisitions, growth was still 18%. On top of that the Swedish company says that its order backlog at the end of the third quarter was about 30% above the previous year’s level. NOTE’s third quarter operating profit increased up by 104% to SEK 32 million (EUR 2.97 million) from SEK 16 million (EUR 1.48 million). The operating margin widened by 2.5 percentage points to 7.3% (4.8%). “It is particularly gratifying that, despite a slowdown in the industrial economy, we managed to increase the growth rate during the third quarter. Growth during Q3 was 34%, of which 18 percentage points were organic. We increased sales in all home markets and at all plants,” says CEO Johannes Lind-Widestam, in a press release. Profit after financial items rose to SEK 30 million (EUR 2.78 million) from SEK 15 million (EUR 1.39 million). Profit after tax increased by 100% to SEK 22 million (EUR 2.04 million) from SEK 11 million (EUR 1.02 million). “We continue to win many new customers, our order books at the end of the period were about 30% larger than last year and we are in the start-up phase of several large customer projects. Despite a weaker market situation for some of our industrial customers, I therefore see good opportunities to continue our positive growth curve,” says Johannes Lind-Widestam.