NOTE Reports Strong Financial Performance in 2024

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NOTE AB reported its financial results for the fourth quarter and full year 2024.

Fourth Quarter 2024

• Sales amounted to SEK 1,025 million. Adjusted for acquisitions and currency effects, organic growth was -6%.
• Operating profit was SEK 98 million. Adjusted operating profit was SEK 108 million.
• The operating margin amounted to 9.5%. The adjusted operating margin was 10.5%.
• Profit after tax amounted to SEK 73 million, corresponding to SEK 2.55 per share.
• Cash flow after investments, including acquisitions, amounted to SEK 124 million, or SEK 4.35 per share.

Full Year 2024

• Sales amounted to SEK 3,901 million. Adjusted for acquisitions and currency effects, organic growth was -10%.
• Operating profit was SEK 352 million. Adjusted operating profit was SEK 364 million.
• The operating margin amounted to 9.0%. The adjusted operating margin was 9.3%.
• Profit after tax amounted to SEK 248 million, corresponding to SEK 8.61 per share.
• Cash flow after investments, including acquisitions, amounted to SEK 465 million, or SEK 16.33 per share.

Dividend

In order to ensure maximum financial freedom of action, the board intends to return regarding dividends, or share buybacks, for 2024 at the latest in connection to the notice to the Annual General meeting 2025.

CEO Comments

NOTE’s CEO stated, “We’re proud to have achieved an underlying operating margin as high as 10.5% – our second highest ever. And this is in a weak market. We’re continuing to invest in our future and the growth that’s coming.”