NCAB increased its sales by over 50% in 2021
“We can look back on another strong quarter with substantial growth in sales and improved profitability compared with previous year”, says Peter Kruk, CEO NCAB Group, in the company fiscal report.
NCAB is reporting full year net sales of SEK 3.22 billion (EUR 304 million), a 52% increase from SEK 2.11 billion (EUR 199 million) in 2020. Order intake increased 80% to SEK 4,04 billion (EUR 381 million) in 2021 from SEK 2.24 billion (EUR 211 million) the year before.
EBITA increased 111% to SEK 406.1 million (EUR 38.3 million), compared with SEK 190.7 million (EUR 18 million) during 2020. Operating profit was SEK 387.2 million (EUR 36.5 million), up significantly from SEK 182.3 million (EUR 17.2 million) in 2020. 2021 profit after tax amounted to SEK 284.9 million (EUR 26.9 million), compared with SEK 127.5 million (EUR 12 million) the year before.
“We are pleased with the high demand and organic growth and that order intake is clearly exceeding net sales, which will support continued growth. Our growth relative to the market shows that we are gaining market shares,” CEO Peter Kruk says in the report.
During 2021, NCAB made quite a few acquisitions. In the first quarter of 2021 NCAB acquired PreventPCB, which has since been integrated into the group’s existing Italian operations. The CEO continues to say that the integration of sas-electronics and RedBoard Circuits has continued according to plan.
Norway-based Elmatica was acquired in the last quarter of the year and META Leiterplatten in Germany was acquired at year-end.
“Elmatica is a larger acquisition and has operations in several countries. With the acquisition of Elmatica, we also gained a team of senior leaders with extensive industry know-how. For example, we appointed a new Director of Technology for the Group from Elmatica,” Peter Kruk continues.
The CEO says that the company sees considerable opportunities to make further acquisitions within the PCB market – as it is fragmented with many local or regional players experiencing increasing pressure from the growing demands for new technology.
“We can see major opportunities to acquire these companies and help them to step up to the next level and further develop their customer relations.”