© NOTE Electronics Production | September 18, 2020
NOTE expects continued strong developments despite a weaker market
For a long time, Swedish EMS provider NOTE has developed positively with increased market shares, strong organic growth and gradually increased margins. For the third quarter, the company expects a continued positive earnings trend.
The operating margin for Q3 is estimated to amount to approximately 8.0%, which means a significant increase in margins compared with the same period last year. The development is particularly strong in Sweden and Finland. However, demand in England and China is at a lower level, primarily as an effect of the current pandemic. Together with delays in some new customer projects, this contributes to sales growth during Q3 - measured in local currencies - being expected to amount to around 3%, which is slightly lower than the company's growth target. “Our underlying business is developing strongly. We continue to win new projects with customers in our existing customer base and continue to win the trust of new customers in a convincing way. We are optimistic about the future, even though demand in some of our markets has dampened our growth after the summer,” says Johannes Lind-Widestam, CEO and President, in a press release.