Best year ever for Nolato
Nolato’s sales during 2010 rose by 30% to SEK 3,375 million (2,602). Operating income (EBITA) increased by 58% to SEK 262 million (166) and earnings per share rose to SEK 7.11 (4.68).
“In terms of income, 2010 was the best year since the company was founded in 1938,” says Hans Porat, President and CEO of Nolato. “The recovery following the financial crisis was much quicker than expected, and all our operations showed an improvement.”
Nolato Medical’s sales rose by 17% to SEK 808 million (692), with operating income (EBITA) rising to SEK 100 million (89). This summer’s acquisition in the US contributed SEK 80 million in sales.
Nolato Telecom saw sales rise by 44% to SEK 1,575 million (1,090), while operating income (EBITA) increased to SEK 122 million (86). Sales were high as a result of a generally strong product portfolio and onward sales of components (touchscreens) worth approximately SEK 200 million.
Nolato Industrial saw sales rise by 21% to SEK 994 million (824), while operating income (EBITA) increased to SEK 79 million (19). High levels of capacity utilisation, new products and the full effect of earlier restructuring measures have had a positive impact on sales and income. The business area has decided to start small-scale production in Romania, with production beginning during the third quarter of 2011.
Nolato enjoys a strong financial position. Net debt stood at SEK 34 million (40), with an equity/assets ratio of 50% (51). Cash flow during 2010 was SEK 230 million (139), excluding acquisitions and property disposed of.
The Board proposes an ordinary dividend for 2010 of SEK 3 per share (3). As a result of Nolato’s strong financial position, the Board also proposes an extra dividend of SEK 3 – in other words, a total of SEK 6 per share (3). The Annual General Meeting will be held on 27 April.