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NOTE Continues Strong Earnings Despite Slightly Weaker Market in Q3
September 21, 2020 | NOTEEstimated reading time: Less than a minute
For a long time, NOTE has developed very positively with increased market shares, strong organic growth and gradually increased margins. For the third quarter, a continued positive earnings trend is expected. The operating margin for Q3 is estimated to amount to approximately 8.0%, which means a significant increase in margins compared with 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 our 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.
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