Good progress for Nolato
In today’s year-end report, Nolato has reported sales for the fourth quarter of 2009 of SEK 786 million, representing a 5% increase compared with the same period in 2008. Operating income (EBITA) was up 12% to SEK 63 million. The EBITA margin was 8.0%. “We are extremely pleased with this strong progress,” says Hans Porat, President and CEO of Nolato. “All our business areas have shown an improvement.” Nolato Medical continued its healthy growth during the fourth quarter, and volumes were stable for most of the business area’s customer segments. Continued investments in projects and technology to create the optimum conditions for running extensive and complex customer projects had an impact on the EBITA margin, which stood at 12.4% (15.8%). Nolato Telecom’s sales rose by 2% to SEK 372 million (364), with an EBITA margin of 8.1% (8.8%). “Successful new product start-ups during the third quarter, combined with strong demand from a number of the business area’s customers, resulted in high production volumes during the fourth quarter,” adds Mr Porat. Volumes have stabilised for Nolato Industrial. At the same time, the companies within the business area have increased their market shares, which - combined with new customer product start-ups - meant that sales during the fourth quarter rose by 11% compared with the same period in 2008. Consolidated sales for 2009 as a whole totalled SEK 2,602 million (2,824), a drop of 8% compared with 2008. Operating income (EBITA) was SEK 166 million (240). The cash flow stood at SEK 139 million (296 excluding disposals), with net debt of SEK 40 million (95). The Board proposes a dividend for 2009 of SEK 3.00 per share. The Annual Meeting will be held on 28 April.