Note AB (publ)
STO:NOTE

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Note AB (publ)
STO:NOTE
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Price: 179.8 SEK 1.58%
Market Cap: 5.2B SEK

Note AB (publ)
Investor Relations

Note AB engages in the electronics manufacturing services. The company is headquartered in Stockholm, Stockholm and currently employs 1,346 full-time employees. The company went IPO on 2004-06-23. The Company’s operational segments are divided into two categories: Nearsourcing Centres and Industrial Plants. The Nearsourcing Centres segment comprises selling facilities in Sweden, Norway, Finland and the United Kingdom (UK), which provide development-oriented work in relationship with customers. The Industrial Plants area includes manufacturing units in Estonia and China. The firm specializes in the production of printed circuit board assemblies (PCBAs), sub-assemblies and box build products, as well as in the delivery of product and test management, end of life management, and spare parts, among others. Furthermore, It operates through a number of subsidiaries, such as NOTE Components AB, NOTE International AB, NOTE UK Ltd, NOTE Norge AS, NOTE Hyvinkaa Oy and IONOTE Electronics (Dongguan) Ltd.

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Last Earnings Call
Fiscal Period
Q2 2025
Call Date
Jul 14, 2025
AI Summary
Q2 2025

Sales: Q2 sales were SEK 980 million, in line with expectations, with a SEK 35 million negative currency effect.

Profitability: EBIT margin was 9.6%, similar to Q1, showing continued strong profitability despite flat sales.

EPS: Earnings per share increased 7% year-over-year to SEK 2.65.

Cash Flow: Operational cash flow year-to-date was SEK 260 million, exceeding the dividend paid and indicating strong financial health.

Guidance: Full-year sales growth is now guided at 0–5%, lowered mainly due to FX impacts; 9.5–10.5% EBIT margin expected to be maintained.

Order Backlog: Backlog increased 6% from Q1 and is up quarter-over-quarter, signaling improving demand.

Growth Outlook: 5–10% sales growth expected in the second half of the year, with strongest growth in Greentech and Security & Defense segments.

M&A Activity: At least one acquisition is targeted for this year; more active M&A dialogue as valuations normalize.

Key Financials
Revenue
SEK 980 million
EBIT Margin
9.6%
Earnings Per Share
SEK 2.65
Operational Cash Flow (YTD)
SEK 260 million
Net Debt
SEK 117 million
Cash Position
SEK 634 million
Order Backlog
Up 6% vs Q1; down 1% YoY
Greentech Segment Growth
15% YoY
Security & Defense Segment Growth
18% YTD
Earnings Call Recording
Other Earnings Calls

Management

Mr. Johannes Lind-Widestam
CEO & President
No Bio Available
Ms. Frida Frykstrand
Chief Financial Officer
No Bio Available
Mr. Kamran Shahabi
Chief Sales Officer
No Bio Available
Cecilia Örn-Lindberg
Chief Procurement Officer
No Bio Available

Contacts

Address
STOCKHOLM
Stockholm
Sveavagen 52
Contacts
+46856899000.0
www.note-ems.com