APRIL–JUNE 2023
> Net sales decreased 6% to
> Order intake decreased 11% to
> EBITA increased 5% to
> Cash flow from operating activities was
> Operating profit was
> Profit after tax was
> Earnings per share before and after dilution was
JANUARY–JUNE 2023
> Net sales decreased 3% to
> Order intake decreased with 11% to
> EBITA increased to
> Cash flow from operating activities was
> Operating profit was
> Return on equity was 39.4% (43.2).
>Profit after tax was
> Earnings per share before and after dilution was
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
> On
> On
> The Annual General Meeting resolved on a dividend of
> Peter Jensen, MD of NCAB Group Denmark, was appointed VP Nordics and a member of Group Management.
MESSAGE FROM THE CEO
Strong earnings despite a softer market for the quarter
During the second quarter, we experienced some deterioration in the industrial economy, which was reflected in the purchasing managers’ index (PMI) in the
NCAB is well equipped to address this new situation and we have continued to deliver strong operating profit and cash flow in all regions through our persistent purchasing efforts and effective cost control. The positive results we are seeing in the form of the number of projects and new customers won is also gratifying, and this bodes well for continued strong long-term organic growth. The lower prices during this year had a clearly negative impact on order intake and net sales apart from lower volumes in the market. The reason for the lower prices was low capacity utilisation at the manufacturers. Although this had a negative effect on net sales, we were able to successfully retain or increase our gross profit. The fact that the utilisation at our factory partners is so low, partly due to increased capacity, is a special situation. This is something that we have not seen lasting for any longer periods. Accordingly, we expect prices and gross margins to normalise over time.
In May, we were pleased to welcome Phase 3 Technologies in the
All of the regions experienced signs of a weaker market, especially in USA and
In a scenario in which central bank interest rates continue to rise and Chinese economy is performing sluggishly, we expect the market to remain challenging in the near future. With NCAB’s flexible business model, we have been able to adapt as previously and maintain our profitability. We also foresee great opportunities in this market to use our strong financial position to capture market shares through organic growth and by way of a continuously high pace of acquisitions.
“Great opportunities to use our strong financial position to capture market shares organically and through acquisitions.”
President and CEO, NCAB Group AB
CONTACTS
For further information, please contact:
Gunilla Öhman, IR Manager, +46 (0) 70 763 81 25
This half-year report has not been reviewed by the company’s auditor.
Tel: +46 (0) 8 4030 0000
Löfströms Allé 5, SE-172 66 Sundbyberg,
www.ncabgroup.com
For those who wish to participate via teleconference, please register on the link below. After registration, you will be provided with phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.financialhearings.com/teleconference/?id=200882
FINANCIAL CALENDAR
Capital Markets Day
Interim report third quarter
Year-end report
About
NCAB is a worldwide leading supplier of printed circuit boards (PCBs), listed on NASDAQ Stockholm. NCAB offers PCBs for demanding customers, on time with zero defects, produced sustainably at the lowest total cost. NCAB was founded in 1993. Since its foundation, the operations have been characterised by an entrepreneurial and cost-efficient culture and have showed strong growth and good profitability over time. Today, NCAB has a local presence in 16 countries in
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