Nolato six months 2007: Very strong growth for Nolato Medical and recovery for Nolato Telecom in Q2
In today’s six-month interim report for 2007, Nolato reported very strong growth for Nolato Medical and improved earnings for Nolato Telecom in the second quarter, compared to the first quarter this year.
“During the second quarter, Nolato Medical had an increase in sales of 176 percent, and earnings nearly tripled compared to the same period in 2006,” said Georg Brunstam, who is President and CEO of Nolato. “The acquisitions of Medical Rubber and Cerbo have performed very well, while organic growth was 22 percent.
“Earnings at Nolato Telecom improved in the second quarter, with better volumes compared to the first quarter,” Mr. Brunstam noted. ”Lower sales, compared to the same period in 2006, are largely due to the loss of BenQ and a change in product mix for Nolato Telecom, with a lower share of purchased components.”
Sales for the Group in the first half of the year totaled SEK 1,196 M (1,461) and EBITA excluding non-recurring items was SEK 86 M (113). Net income was SEK 51 M (88) and earnings per share were SEK 1.94 (3.35). Adjusted earnings per share, excluding non-recurring items as well as intangible writedowns for company acquisitions, were SEK 2.20 (3.35).
“Cash flow after investments was very strong at SEK 104 M (102), excluding acquisitions and disposals,” Mr. Brunstam said.
“Volumes at Nolato Industrial were good, with solid growth in sales and improved earnings.”
During the second quarter, two operations with printed cardboard packaging for the pharmaceutical industry, which were included in the acquisition of Cerbo but are outside Nolato’s core business, were disposed of.
The complete report is available at www.nolato.com