Financial position remains strong
In today’s year-end report, Nolato reports sales for the fourth quarter of 2011 of SEK 734 million (864). Operating income (EBITA) was SEK 48 million (63) and the EBITA margin was 6.5% (7.3).
Nolato Medical’s sales totalled SEK 230 million (235), operating income amounted to SEK 28 million (28) and the EBITA margin was 12.2% (11.9).
“Excluding currency conversion effects, Nolato Medical’s sales were in line with the previous year,” says Hans Porat, President and CEO of Nolato. “Product sales during the fourth quarter developed in line with the market, while sales within projects fell from a high level. We believe that the lower sales from projects will continue during the impending quarters.”
Nolato Telecom’s sales fell by 45% to SEK 207 million (377). Operating income (EBITA) was SEK 4 million (24) and the EBITA margin was 1.9% (6.4).
“Demand for the business area’s product portfolio remains weak and the focus has therefore been placed on developing the product portfolio ahead of 2012,” comments Hans Porat.”
Nolato Industrial’s sales rose by 18% to SEK 299 million (253). Operating income (EBITA) rose by 33% to SEK 24 million (18). The EBITA margin was 8.0% (7.1).
“Strong demand, advanced market positions and new products contributed to an increase in sales,” adds Mr Porat. “A high level of capacity utilisation and high productivity had a positive impact on the margin.”
Consolidated sales for 2011 as a whole totalled SEK 2,977 million (3,375). Operating income (EBITA) was SEK 199 million (262) and earnings per share were SEK 5.02 (7.11).
Nolato enjoys a strong financial position. Net debt stood at SEK 82 million (34), with an equity/assets ratio of 54% (50). Cash flow during 2011 was SEK 112 million (230, excluding acquisitions and property disposed of).
The Board proposes an ordinary dividend for 2011 of SEK 3.00 per share (3.00) and an extra dividend of SEK 2.00 (3.00), in total SEK 5.00 (6.00). The AGM will be held on 24 April 2012 in Grevie, Sweden.
For further information, please contact:
Hans Porat, President and CEO, 46 431 442294
Per-Ola Holmström, CFO, 46 431 442293
The Nolato Group is a high-tech developer and manufacturer of polymer product systems for leading customers in medical technology, telecom, hygiene, automotive products and other selected industrial sectors. Nolato’s shares are quoted on the Nasdaq OMX Nordic Exchange, Stockholm Mid Cap, Information Technology. www.nolato.com
Nolato AB discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 2,30 pm on 1 February 2012.