Significant improvement in earnings for the Nolato Group
Nolato reports a significant improvement in earnings for the first three months of 2008 compared with the same period last year. Sales rose by 26 percent to SEK 690 M (547), with operating income (EBITA) up 59 percent to SEK 59 M (37).
“Being able to issue such a strong report is extremely satisfying,” says Nolato’s CEO, Hans Porat. “Our cash flow also showed healthy growth during the quarter, rising to SEK 47 M (23 excluding acquisitions).”
Nolato Medical’s sales grew by 30 percent compared with the same period during the previous year. Operating income (EBITA) was up 31 percent to SEK 21 M (16), with an EBITA margin of 14.3 percent (14.2).
“The business area is growing,” continues Porat, “and we are now ready to start production in China. Initially, this will be for an existing customer which now requires Nolato Medical’s presence in the Asian market.”
Nolato Telecom also reported strong growth during the quarter. Sales swelled by 54 percent to SEK 284 M, with operating income (EBITA) increasing to SEK 27 M (5). The EBITA margin also increased significantly, to 9.5 percent (2.7).
“Nolato Telecom’s units have operated at high levels of capacity,” explains Porat. “In addition, production consisted largely of newer products and products launched during the quarter, for which volumes were extremely high right from the start.”
Nolato Industrial experienced stable volumes, with sales up three percent to SEK 260 M. Operating income (EBITA) totalled SEK 20 M (23), with an EBITA margin of 7.7 percent (9.1).
The full interim report can be found at Nolato’s website, www.nolato.se