NOTE’s Interim Report January–March 2019

Financial performance January–March  
• Sales increased with 32% to SEK 405 (308) million. 
• Operating profit increased with 58% to SEK 27 (17) million.   
• Operating margin expanded by 1.1 percentage points to 6.6% (5.5%).  
• Profit after financial items increased by 64% to SEK 25 (15) million.  
• Profit after tax improved with 64% to SEK 20 (12) million, corresponding to SEK 0.70 (0.43) per        share. 
• Cash flow after investments amounted to SEK 2 (13) million, or SEK 0.06 (0.46) per share. 
CEO’s comment 
“After a successful 2018 for NOTE, the development during the first quarter can be considered to be of record-breaking character. The sales increased with 32% to SEK 405 million, of which our newly acquired company Speedboard Assembly Services contributed approximately half of the growth.  We continue to gain new customers' trust, both in traditional industry and in new fast-growing application areas. It was also very gratifying that during April we were able to announce the extensive cooperation in electronics production that we initiated with DeLaval. 
Our operating profit for the first quarter increased by 58% to SEK 27 million, which is a result of growth, continued stable cost development and a strong development, not least in our plants in Western Europe. 
We are financially well equipped for the future. We have several larger, exciting customer projects under ramp up and our order backlog grew during the period to a record high level. I therefore see good opportunities to continue our positive development,“ says Johannes Lind-Widestam, CEO and President.  
NOTE’s Interim Report for January–March is now available in PDF format at the web site, www.note.eu, and attached to this message. The Interim Report for January–June will be published on 15 July. 
For more information, please contact: 
Johannes Lind-Widestam, CEO and President, tel. +46 (0)70 541 7222  Henrik Nygren, CFO, tel. +46 (0)70 977 0686 

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