OCTOBER–DECEMBER 2021
> Net sales increased by 90% to reach
> Order intake increased by 57% for
> EBITA up 132% at
> EBITA was negatively impacted by transaction costs related to the acquisition of Elmatica for an amount of
> The operating result was
> Profit after tax was
> Earnings per share** before and after dilution were
JANUARY–DECEMBER 2021
> Net sales increased by 52% for
> Order intake increased by 80% for
> EBITA up 111% at
> The operating result was
> Profit after tax was
> Earnings per share** before and after dilution were
SIGNIFICANT EVENTS DURING AND AFTER THE QUARTER
> On October 19, 100% of Elmatica shares in
> NCAB signed a new credit facility of
> The Extraordinary General Meeting of December 15 approved an additional dividend of
> Enabled
> At the end of the year,
> The Board of Directors proposes a dividend of
*) Loan value of
**) Calculated after 10:1 split
MESSAGE FROM THE CEO
Continued strong organic growth driven by acquisitions
We can look forward to another strong quarter with substantial sales growth and improved profitability over the prior year. We are pleased with the strong demand and organic growth and the fact that order intake clearly exceeds net sales, which will support continued growth. Our growth relative to the market shows that we are gaining market share. Our local presence in the production chain through our factory management organization makes a big difference in giving us a strong position to secure delivery times by enabling continuous improvements in technology, quality and sustainability.
In addition to our organic growth, which stems from all the different industries and regions, we also saw strong performance from our acquisitions. PreventPCB, which was acquired in the first quarter, has been integrated into our existing Italian activities and has developed favourably. The integration of sas-electronics and RedBoard Circuits continued as planned. Elmatica, based in
The PCB market is very fragmented with many local or regional players. Many of them are under increasing pressure due to increasing demands for new technologies, quality improvements and sustainability. We see major opportunities to acquire these companies and help them take them to the next level and further develop their relationships with their customers. It is clear from the analysis of our acquired companies and their performance that they have developed very well since their integration into NCAB.
Among the slices Nordic performed well and grew both organically and through the acquisition of Elmatica. It’s also good to see how the margin has improved. The integration of Elmatica has begun and it is clearly a very good addition to NCAB, and we anticipate synergies in a number of areas.
We have invested heavily in growing our
During the quarter,
For East, the quarter was positive in terms of profits and sales, despite numerous COVID restrictions in parts of the region. Profitability is at a high level due to high technological content and high level of service.
Supply chains remained under pressure during the fourth quarter, although the situation has stabilized and we can see signs of improvement. It also led to higher working capital. We now also see a more uncertain political situation globally and that the coronavirus pandemic could further affect supply chains.
Overall, we can look forward to another very strong quarter across the board. We are proud of our strong organic growth and the success of top-notch acquisitions. Strong order intake also continues to paint a positive picture for 2022.
“Another strong quarter highlighting quality is very encouraging for 2022”
CEO and President,
CONTACT
For more information, please contact:
Gunilla Öhman, IR Manager, +4670 763 81 25
This interim report has not been reviewed by the company’s auditor.
This is a translation of the original Swedish interim report. In case of discrepancy between the English translation and the Swedish original, the Swedish interim report will prevail.
Tel: +46 8 4030 0000
Mariehällsvägen 37 A, SE-168 65 Bromma,
www.ncabgroup.com
FINANCIAL CALENDAR
First quarter interim report April 28, 2022
Annual General Meeting May 3, 2022
Second quarter interim report
Third Quarter Interim Report November 8, 2022
Year-end report February 17, 2023
On
NCAB is one of the world’s leading suppliers of printed circuit boards (PCBs), listed on NASDAQ Stockholm. NCAB offers PCBs for demanding customers, on time with zero defects, sustainably produced at the lowest total cost. NCAB was founded in 1993. Since its founding, operations have been characterized by an entrepreneurial and profitable culture and have shown strong growth and good profitability over time. Today, NCAB has a local presence in 16 countries