TOREKOV, Sweden, Feb. 12, 2019 /PRNewswire/ --
Fourth quarter of 2018:
- Sales totalled SEK 1,781 million (1,926)
- Operating profit (EBITA) was SEK 214 million (230)
- EBITA margin of 12.0% (11.9)
- Profit after tax was SEK 158 million (180)
- Basic earnings per share were SEK 6.01 (6.84)
- Cash flow after investment was SEK 122 million (157)
Medical Solutions sales for the fourth quarter increased to SEK 580 million (511). Adjusted for currency, sales increased by a strong 8%. Operating profit (EBITA) rose to SEK 77 million (68). The EBITA margin was 13.3% (13.3).
"Sales increased in both Medical Devices and Pharma Packaging," said Nolato President and CEO Christer Wahlquist. "Activity remains high in Nolato's market, with project activity primarily in autoinjectors for biological medication, insulin products and incontinence products."
Integrated Solutions sales for the fourth quarter derecreased to SEK 703 million (900); adjusted for currency, the decrease was 27%. Operating profit (EBITA) decreased to SEK 99 million (116). The EBITA margin grew to a very strong 14.1% (12.9). The margin was boosted by 2.0 percentage points from the receipt of compensation from Chinese authorities.
"As announced, inventory adjustments in Heating Devices had a negative impact on sales in the quarter," noted Christer Wahlquist. "We assess that volumes will be at a markedly lower level for the first six months of 2019, compared with the rate in the fourth quarter of 2018, pending the launch of new models. Nolato has received orders for the new models and retains a strong position with the customer."
Industrial Solutions sales decreased to SEK 505 million (518); adjusted for currency and Group structure, the decrease was 4%. Operating profit (EBITA) decreased to SEK 39 million (52) and the EBITA margin to 7.7% (10.0).
"Production volumes were at a similar level as the previous year taken over the entire quarter, while invoicing of development work and production equipment was slightly lower," said Christer Wahlquist. "The weak margin was due to continued unsatisfactory efficiency in automotive and low volumes prior to the Christmas break."
Today's year-end report for 2018 shows the best ever year in Nolato's history.
Full year 2018:
- Sales rose by 21% to SEK 8,102 million (6,720)
- Operating profit (EBITA) increased sharply to SEK 949 million (763)
- Basic earnings per share increased to SEK 27.44 (21.74)
- The equity/assets ratio was 50% (45) and net financial assets were SEK 159 million (−153)
- The Board of Directors proposes an increased dividend with 12% of SEK 14.00 (12.50) per share
Adjusted for currency and Group structure, sales rose by an exceptionally strong 17%.
Medical Solutions sales rose to SEK 2,270 million (1,955), which, adjusted for currency, is a strong increase of 12%. Operating profit (EBITA) increased to SEK 295 million (257) and the EBITA margin to 13.0% (13.1).
Integrated Solutions sales rose to SEK 3,720 million (2,810). Adjusted for currency, this was an exceptionally strong increase of 28%. Operating profit (EBITA) rose sharply to SEK 473 million (332) and the EBITA margin was a strong 12.7% (11.8).
Industrial Solutions sales totalled SEK 2,119 million (1,968). Adjusted for currency and Group structure, growth was a healthy 6%. Operating profit (EBITA) was SEK 186 million (195), with an EBITA margin of 8.8% (9.9).
Nolato retains a healthy financial position, with an equity/assets ratio of 50% (45) and net financial assets of SEK 159 million (net financial liabilities of SEK –153 million). The Board proposes an increase in the dividend to SEK 14.00 (12.50).
The Annual General Meeting will be held on 8 May 2019 at 4 p.m. CET in Grevie, Sweden.
For further information, please contact:
Christer Wahlquist, President and CEO, +46-(0)-705-804848
Per-Ola Holmström, CFO, +46-(0)-705-763340
Nolato is a Swedish group with operations in Europe, Asia and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, telecom, automotive, hygiene and other selected industrial sectors. Nolato's shares are listed on Nasdaq Stockholm in the Large Cap segment, where they are included in the Industrials sector.
This information is information that Nolato AB is obliged to publish pursuant to the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was issued for publication by the above contact person on 12 February at 2.30 p.m. CET.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
The complete report
The release as pdf