Nolato: Strong quarter for all business areas
Nolato’s sales during the third quarter of 2010 rose by 36% to SEK 887 million (653). Operating income (EBITA) increased to SEK 67 million (48) and earnings per share rose to SEK 1.78 (1.26).
“All business areas have showed strong growth,” says Hans Porat, President and CEO of Nolato.
Nolato Medical’s sales rose by 27% to SEK 202 million (159). Operating income totalled SEK 25 million (20), with an EBITA margin of 12.4% (12.6).
“The acquisition carried out by Nolato Medical in the US during the quarter has been consolidated, and accounts for SEK 37 million of the business area’s sales,” continues Mr Porat. “The acquisition has progressed well and in line with our expectations.”
Nolato Telecom’s sales rose by 44% to SEK 444 million (309), with operating income (EBITA) of SEK 32 million (24). The EBITA margin was 7.2% (7.8).
“Volumes have remained good for most customers, involving high levels of capacity utilisation. At the same time, a higher proportion of purchased components has had a negative impact on the margin.”
Nolato Industrial’s sales rose by 30% to SEK 241 million (185), with operating income (EBITA) of SEK 21 million (9). The EBITA margin grew to a strong 8.7% (4.9).
“The margin has increased significantly, thanks to high levels of capacity utilisation, new products and lower costs.”
Nolato continues to enjoy a strong financial position. Net debt stood at SEK 199 million (120), with an equity/assets ratio of 48% (52). Cash flow after investments, excluding acquisitions, was SEK 75 million (60) for the first nine months.