Nolato three-month interim report: Continued strong cash flow
In today’s three-month interim report, Nolato has reported sales of SEK 606 million (690) and operating income (EBITA) of SEK 16 million (59). Cash flow remained strong, totalling SEK 56 million (47).
“Our customer relationships are excellent, but we are of course feeling the effects of the general market downturn,” explains Hans Porat, President and CEO of Nolato. “It is therefore reassuring that we have been able to reduce our net liabilities to SEK 28 million thanks to a strong cash flow, thus leaving us practically entirely debt-free.”
The Nolato Medical business area increased its sales by 21% to SEK 178 million (147) and its operating income (EBITA) by 14% to SEK 24 million (21).
“Market trends within medical technology remain favourable. More and more customers are looking for larger, global partners, and this benefits Nolato Medical.”
Sales for the Nolato Telecom business area totalled SEK 226 million (284), corresponding to a reduction of 20%. Operating income was SEK 0 million (25).
“These figures are fully in line with previous information, and we have continued to strengthen our product portfolio during the quarter. At today’s Board meeting, we decided to set up a small converting unit in southeast India to manufacture adhesive products to mobile phones.”
The Nolato Industrial business area saw sales dip by 21% to SEK 206 million (260), with operating income of SEK –1 million (19).
“Nolato Industrial’s results reflect the automotive and industrial market downturn. The general decline experienced by many of our customers within this business area means that we have unfortunately been forced to make further adaptations in terms of our resources. However, we have successfully launched a major customer project in Hungary.”