Strong third quarter for the Nolato Group
In its nine-month interim report for 2007 published today, Nolato reported a strong third quarter, with a strong EBITA margin for Nolato Telecom and continued high growth for Nolato Medical.
Consolidated sales during the quarter totaled SEK 624 M (638), EBITA increased to SEK 56 M (51), net income increased to SEK 36 M (35) and earnings per share increased to SEK 1.37 (1.33).
“There was good growth in sales volumes at Nolato Telecom,” noted Georg Brunstam, who is President and CEO of the Nolato Group. “The EBITA margin increased to 10.0 percent (8.5).
“Nolato Telecom has expanded its customer base by being selected as a supplier to the Canadian company RIM, which develops and manufactures products like the BlackBerry.”
For Nolato Medical, the high growth continued, and sales increased 162 percent compared to the same period in 2006, with 35 percent of this organic.
“Nolato Medical’s volumes were very good during the quarter,” said Mr. Brunstam, who also noted that the two acquisitions, Medical Rubber and Cerbo, performed well and in line with expectations.
Nolato Medical has also taken in a major new outsourcing order, which is expected to have annual sales of SEK 20–25 million once the project has reached full production toward the end of 2008. The order involves production that will be carried out at Nolato Medical’s plant in Hungary.
Nolato Industrial increased sales 14 percent compared to the same period in 2006, with 10 percent of this organic. Volumes were good, especially for the automotive industry.
Nolato reported consolidated sales of SEK 1,820 M (2,099) for the first nine months of the year and EBITA of SEK 142 M (164). Net income totaled SEK 87 M (123) and earnings per share were SEK 3.31 (4.68). Cash flow after investments was SEK 156 M (96), excluding acquisitions and disposals.