Subject: ERN
Nolato Q3 2019: Positive Earnings Performance by all Business Areas
TOREKOV, Sweden, Oct. 23, 2019 /PRNewswire/ --
Nolato AB has today published its interim report for the third quarter of 2019.
- Sales totalled SEK 1,980 million (1,980)
- Operating profit (EBITA) rose to SEK 238 million (SEK 222 million excl. a negative nonrecurring item of SEK -17 million)
- EBITA margin of 12.0% (11.2% excl. non-recurring items)
- Profit after tax increased to SEK 186 million (154)
- Basic earnings per share rose to SEK 7.02 (SEK 6.50 excl. non-recurring items)
- Cash flow after investments was SEK -4 million (SEK -68 million excl. a divestment)
Medical Solutions sales rose to SEK 612 million (596); adjusted for currency, sales were unchanged. Operating profit (EBITA) increased to SEK 80 million (76) and the EBITA margin to 13.1% (12.8).
"The second half of last year included very high development sales and additional billing of production equipment, which is also expected to have an effect on growth in the fourth quarter," said Nolato President and CEO Christer Wahlquist.
Integrated Solutions sales amounted to SEK 862 million (892); adjusted for currency, this was a decrease of 12%. Operating profit (EBITA) rose to SEK 116 million (114) and the EBITA margin to a very strong 13.5% (12.8).
"The inventory situation has normalised and new Vaporiser Heating Device (VHP) product variants started being delivered in the third quarter," said Christer Wahlquist. "The margin benefitted from good volumes of older Vaporiser Heating products with high production efficiency, good capacity utilisation in mobile phones and currency effects."
Industrial Solutions sales amounted to SEK 512 million (492); adjusted for currency, this represented an increase of 3%. Operating profit (EBITA) rose to SEK 44 million (35) and the EBITA margin was 8.6% (7.1).
"Volumes have been stable across most product areas and implemented efficiency measures are gradually leading to an improvement in the margin," noted Christer Wahlquist.
Nolato retains a healthy financial position, with net assets of SEK 186 million (208). The equity/assets ratio was 47% (46).
Nolato is a Swedish group with operations in Europe, Asia and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, consumer electronics, telecom, automotive, hygiene and other selected industrial sectors. Nolato's shares are listed on Nasdaq Stockholm in the Large Cap segment, where they are included in the Industrials sector.
For further information, please contact:
Christer Wahlquist, President and CEO, +46 (0)705 804848
Per-Ola Holmström, CFO, +46 (0)705 763340
Prior to publication this information constituted inside information that Nolato AB is obliged to publish pursuant to the EU Market Abuse Regulation. The information was issued for publication by the above contact persons on 23 October 2019 at 2.00 p.m. CET.
This information was brought to you by Cision http://news.cision.com
The following files are available for download:
The complete report | |
https://mb.cision.com/Public/966/2939259/af129f1451d6f6b8.pdf | The release as PDF |
SOURCE Nolato
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