Very strong quarter for Nolato
Nolato Medical’s sales rose by 33% to SEK 328 million (246). Operating profit (EBITA) was SEK 43 million (31). The EBITA margin was 13.1% (12.6).
“Sales were well in line with the market. A favourable product mix and solid profitability from the latest acquired unit in the quarter contributed to a strong margin,” says President and CEO of Nolato Hans Porat.
Nolato Telecom’s sales rose by a full 118% to SEK 627 million (287). Operating profit (EBITA) climbed to SEK 57 million (7), with an EBITA margin of 9.1% (2.4).
Last year, an older product portfolio at Nolato Telecom was replaced, and new products were rolled out as planned. In the first quarter of the year, demand for a number of these models was very good.
“High volumes are also anticipated in the second quarter. Other products will subsequently replace the existing models,” says Hans Porat.
Nolato Industrial’s sales were largely unchanged at SEK 299 million (304). Operating profit (EBITA) was SEK 29 million (28), with a sustained very strong EBITA margin of 9.7% (9.2).
“Advanced market positions, a favourable product mix and a reduced cost level balanced the poorer economic climate,” continues Hans Porat.
At the end of the quarter, net debt stood at SEK 100 million (149), with an equity/assets ratio of 44% (51).
The Board proposes to today’s AGM a dividend of SEK 6.00 (5.00), SEK 2.50 (2.00) of which is extra dividend due to the Group’s strong financial position.