Another strong quarter for NCAB
"In general, we are seeing increased activity from both existing and new customers with new projects. This is an indication that we are capturing market share," says Peter Kruk, CEO of NCAB Group in the interim report.
The PCB supplier's net sales increased by 31% to SEK 762.2 million, up from SEK 580.6 million during the same period last year. Order intake increased 118% from SEK 486.2 million to SEK 1,057.8 million. EBITA increased 105% to SEK 103.8 million, from SEK 50.6 million. Operating profit was SEK 99.7 million, up from SEK 48.1 million from the same period 2020. Profit after tax ended up at SEK 77.9 million, quite the increase from SEK 20.4 million during the same period last year.. CEO Peter Kruk comments in the report that the behaviour the company saw during the first quarter with order bookings being brought forward, due to uncertainty in the market in terms of component shortages and price increases, continued in the second quarter. Whether or not this is a new normal is however has to say. "However, it is satisfying, alongside this, to see strong underlying growth and that all segments and all of the new acquisitions are delivering in terms of orders, sales and earnings. The order intake for the quarter also includes a price increase effect from our suppliers that we have passed on to our customers," the CEO says. "In general, we are seeing increased activity from both existing and new customers with new projects. This is an indication that we are capturing market share. It is clear that electronic applications are increasing strongly due to the transition to more climate-smart solutions. We are also seeing that many of our small competitors are having difficulty in gaining priority among the leading suppliers. It is difficult for those that do not have their own staff in China to maintain relationships with the suppliers. This is also impacting customers who, to an extent, make purchases directly from factories in Asia. This entails a clear advantage for NCAB," the CEO continues. Peter Kruk end by stating that the company continues to invest in growth and to develop effective processes for acquiring and integrating new companies.