TOREKOV, Sweden, Apr. 26, 2017 /PRNewswire/ --
Today's report from Nolato for the first three months of 2017 shows strong performance by all business areas, resulting in growth of 17% adjusted for currency and acquisitions. Including acquisitions, sales increased by 34%.
- Sales increased to SEK 1,370 million (1,022)
- Operating profit (EBITA) rose to SEK 146 million (113)
- The operating margin (EBITA) was 10.7% (11.1)
- Profit after tax was SEK 108 million (83)
- Earnings per share were SEK 4.11 (3.16)
- New business area names as per press release of 20 April 2017
"Both of last year's acquisitions have performed well and according to plan," said Nolato President and CEO Christer Wahlquist. "Although the effects of acquisitions are excluded, all business areas showed strong performance."
Sales in the Medical Solutions business area increased to SEK 487 million (390); adjusted for currency and acquisitions, sales grew by a strong 11%. Operating profit (EBITA) rose to SEK 65 million (52) and the EBITA margin was a strong 13.3% (13.3).
"Volumes increased in both Medical Devices and Pharma Packaging," noted Christer Wahlquist. "The largest increase was in Medical Devices, in which the ramp-up of new customer projects also had a positive impact. This business area's margin benefited from high capacity utilisation and a favourable product mix."
Sales in the Integrated Solutions business area rose to SEK 399 million (300). Operating profit (EBITA) was SEK 38 million (33), with an EBITA margin of 9.5% (11.0).
"Last year, volumes were low for the first six months," notes Christer Wahlquist. "Investments in expanding the business area's customer and product base have had a positive impact on volumes in both EMC and consumer products."
Sales in the Industrial Solutions business area rose to SEK 488 million (334); adjusted for currency and acquisitions, sales increased by a very strong 16%. Operating profit (EBITA) totalled SEK 48 million (34), with an EBITA margin of 9.8% (10.2).
"Volumes in most segments developed positively, especially in automotive," said Christer Wahlquist. "Capacity utilisation was also high."
The new business area names used in this press release and the interim report were announced in the press release of 20 April. The main reason for the new names is the strategic progression from local component manufacturer to regional/global high-tech partner made by Nolato in recent years.
Nolato retains a healthy financial position, with an equity/assets ratio of 49% (60) and net financial debt of SEK 410 million (+144, net asset).
For further information, please contact:
Christer Wahlquist, President and CEO, on +46 (0)705 804848
Per-Ola Holmström, CFO, on +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 Mid Cap segment, where they are included in the Industrials sector.
This information is information that Nolato AB (publ) is obliged to publish pursuant to the EU Market Abuse Regulation. This information is submitted through the agency of the above contact persons for publication on 26 April 2017 at 2.30 pm 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