-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
NOTE Releases Interim Report January-March 2023
April 20, 2023 | NOTEEstimated reading time: 1 minute
Financial performance January–March
- Sales increased by 28% to SEK 1,051 (821) million. Adjusted for acquisitions and currency effects, organic growth was 14%.
- Operating profit increased by 48% to SEK 112 (76) million.
- The operating margin widened by 1.4 percentage points to 10.7% (9.3%).
- Profit after financial items was up by 50% to SEK 104 (69) million.
- Profit after tax rose by 51% to SEK 85 (56) million, corresponding to SEK 2.92 (1.95) per share.
- Cash flow after investments amounted to SEK 49 (9) million, or SEK 1.69 (0.31) per share. Adjusted for acquisition-related payments in the period, operating cash flow after investments was SEK 72 (9) million.
CEO’s comment – NOTE is reporting sales of over SEK 1 billion for the second consecutive quarter. Growth is driving profitability, and NOTE’s operating margin is now 10.7%
“NOTE’s sales in the period made brisk progress and for the second consecutive quarter NOTE reached sales of over 1 billion. Sales of SEK 1,051 million in the first quarter meant growth of about 28%. Adjusted for acquisitions and currency effects, organic growth was 14%. We are growing on most of our domestic markets, with our Swedish and Estonian businesses performing with particular strength.
Growth is driving profitability and the operating margin amounted to 10.7% for the quarter. Continued investments in our modern plants increase our growth, degree of automation and efficiency, which benefits both us and our customers. Shortly after the end of the quarter, we completed an acquisition of the Bulgarian EMS company ATM Electronics OOD. Through the acquisition, we add another profitable plant to the NOTE group and another option for our customers who are looking for cost-effective manufacturing in Europe.
The first quarter delivered positive cash flow (after investments) of SEK +49 million and adjusted for acquisition-related payments made, cash flow (after investments) amounted to SEK +72 million. NOTE’s high growth in recent years together with the challenging situation in the market for electronic components has put pressure on NOTE’s cash flow and it is therefore gratifying that the cash flow for Q1 came in so strong.
Our order backlog was some 20% higher than at the corresponding time last year. Given the strong order situation, we see good potential to continue our positive progress. For the second quarter, we expect a growth of 20% and for the full year 2023 to reach sales of at least SEK 4.2 billion. We anticipate a continued strengthening of our profitability”, says Johannes Lind-Widestam, CEO and President.
Suggested Items
Benchmark Reports Q1 2024 Results
05/03/2024 | PRNewswireRevenue decreased quarter over quarter and year over year primarily due to decreases in Medical, Advanced Computing and Next-Generation Communication sales, which were partially offset by an increase in Complex Industrials sales quarter-over-quarter and increases in Semi-Cap and A&D sales year-over-year.
TTM Technologies Reports First Quarter 2024 Results
05/02/2024 | TTM TechnologiesTTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency components and RF microwave/microelectronic assemblies, quick-turn and technologically advanced printed circuit boards , reported results for the first quarter 2024, which ended on April 1, 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.
Celestica Announces Q1 2024 Financial Results
05/01/2024 | CelesticaCelestica Inc., a leader in design, manufacturing, hardware platform and supply chain solutions for the world's most innovative companies, today announced financial results for the quarter ended March 31, 2024 (Q1 2024).
NASA’s Optical Comms Demo Transmits Data Over 140 Million Miles
04/30/2024 | NASA JPLNASA’s Deep Space Optical Communications experiment also interfaced with the Psyche spacecraft’s communication system for the first time, transmitting engineering data to Earth.