Financial performance in October-December
• Operating profit was SEK 113 (98) million. Adjusted operating profit was SEK 114 (108) million, adjusted for revaluations of operating assets and liabilities in foreign currencies and acquisition costs.
• Profit after financial items was SEK 109 (91) million.
• Adjusted for items affecting comparability, such as acquisition-related payments made and investments in the property in Torsby, Sweden, operating cash flow amounted to SEK 58 (140) million. Total cash flow after investments amounted to SEK -285 (124) million, or SEK -9.98 (4.35) per share.
Financial performance in January-December
• Operating profit was SEK 381 (352) million. Adjusted operating profit was SEK 385 (364) million, adjusted for revaluations of operating assets and liabilities in foreign currencies, for a SEK 18 million provision for restructuring of the UK operation in the first quarter and for acquisition costs.
• Profit after financial items was SEK 352 (310) million.
• Adjusted for items affecting comparability, such as acquisition-related payments made and investments in the property in Torsby, Sweden, operating cash flow amounted to SEK 437 (539) million. Total cash flow after investments amounted to SEK 32 (465) million, or SEK 1.12 (16.33) per share.
Dividend
We expect the defence sector's continued challenges to impact early-2026. We then anticipate a gradual improvement from customers, giving us a positive view of the full year 2026. This is reflected in our order backlog, which at year end 2025, was up 11% on the corresponding point of the previous year, in like-for-like terms.
Given the positive drivers for the sector, our strong positioning as an EMS partner and efficient organisation, we're well positioned for coming growth.", says Johannes Lind-Widestam, CEO & President.
NOTE's Year-end Report for 2025 is now available in PDF format on the corporate web site, www.note-ems.com, and attached to this message. Today at 10.00 CET, NOTE organises a presentation for analysts, media and investors, where CEO and President Johannes Lind-Widestam presents the report. The Interim Report for January-March will be published on 23 April.
For more information, please contact:
Frida Frykstrand, CFO, tel. +46 (0)70 462 0939
About NOTE
NOTE has a presence in Sweden, Finland, the UK, Estonia, Bulgaria and China. Sales over the last 12 months were SEK 3,814 million, and the group has approximately 1,450 employees. NOTE is listed on Nasdaq Stockholm. For more information, please go to www.note-ems.com.
This information is information that NOTE AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2026-01-26 08:00 CET.
