NCAB Group have presented their interim report for the first quarter 2021. The January-March term of 2021 saw a net sales increase by 28% (in USD 47%) to SEK 617.1 million (483.1). Acquisitions continue to drive growth. For comparable units, net sales increased by 2%, and in USD the increase was 18%.
Peter Kruk, CEO of NCAB Group, said "The first quarter was intensive for NCAB. Sales grew by 28 per cent despite the weaker USD. In USD, which is the currency used for most of our transactions and best reflects the true development, net sales rose by a full 47 per cent." Kruk continued "For comparable units, the increase in USD was 18 per cent. It is gratifying to see that so many of our segments and countries are now picking up at the same time, and that our new acquisitions are delivering according to plan."
NCAB witnessed a strong order intake as a result of a robust recovery in it’s markets and customers’ concerns about shortage of components, which prompted many customers to place orders of PCBs early. Order intake increased 74% to SEK 978.9 million (563.4). In USD, the increase was 100%. For comparable units, order intake increased by 41%, and in USD the increase was 62%. The estimated value of orders placed early is a not an insignificant share of the total order intake for the quarter.
The group reported that its EBITA increased 54% to SEK 58.4 million (37.9), representing an EBITA margin of 9.5% (7.8). They had an operating profit of SEK 55.4 million (37.0) with a margin of 9.0% (7.7). Profit after tax was SEK 40.7 million (40.4). Profit for the first quarter of 2020 was positively impacted by foreign exchange gains of SEK 15.0 million. NCAB also reports earnings per share at SEK 2.17 (2.40).
On 22 February, an agreement was signed to acquire 100 per cent of the shares in PreventPCB in Vergiate, Italy. The Board of Directors of NCAB Group proposes a dividend of SEK 5.00 per share to the 2021 Annual General Meeting.
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