{"id":659,"date":"2022-07-20T13:00:00","date_gmt":"2022-07-20T12:00:00","guid":{"rendered":"https:\/\/temporary.nolato.com\/mfn_news\/external-challenges-impacting-performance\/"},"modified":"2022-07-20T13:00:00","modified_gmt":"2022-07-20T12:00:00","slug":"external-challenges-impacting-performance","status":"publish","type":"mfn_news","link":"https:\/\/temporary.nolato.com\/es\/mfn_news\/external-challenges-impacting-performance\/","title":{"rendered":"External challenges impacting performance"},"content":{"rendered":"<div class=\"mfn-body\">\n<p>Second quarter of 2022 in brief<\/p>\n<ul>\n<li>Sales increased to SEK 2,905 million (2,786)<\/li>\n<li>Operating profit (EBITA) was SEK\u00a0264 million (SEK 336 million excl. a positive non-recurring item of SEK 50 million)<\/li>\n<li>EBITA margin of 9.1% (12.1%, excl. non-recurring item)<\/li>\n<li>Profit after tax was SEK 190 million (291)<\/li>\n<li>Diluted earnings per share were SEK 0.71 (SEK 0.90 excl. non-recurring item)<\/li>\n<li>Cash flow after investments amounted to SEK 18 million (346)<\/li>\n<\/ul>\n<p>Medical Solutions sales for the second quarter were SEK 1,214 million (1,021), which, adjusted for currency, was an increase of 8%. Operating profit (EBITA) was SEK\u00a0121\u00a0million (124), with an EBITA margin of 10.0% (12.1).<\/p>\n<p>\u201cThe charging on of higher costs contributed to the increase in sales,\u201d noted Christer Wahlquist, Nolato President and CEO. \u201cThe surgery area saw good growth in the quarter, while in vitro diagnostics (IVD) volumes were low in the quarter due to pandemic-related inventory adjustments. Investments in capacity made in 2021 are still not being fully used and are consequently having a negative impact on the margin.\u201d<\/p>\n<p>Integrated Solutions sales amounted to SEK 1,019 million (1,186); adjusted for currency, this was a decrease of 25%. Operating profit (EBITA) was SEK\u00a0109\u00a0million (154), with an EBITA margin of 10.7% (13.0).<\/p>\n<p>\u201cThe EMC business is continuing to perform well, but demand for Vaporiser Heating Products (VHP) in Eastern Europe was adversely affected during the quarter following Russia\u2019s invasion of Ukraine,\u201d said Christer Wahlquist. \u201cHowever, performance was better than previously expected, due to a SEK 100 million customer order being delivered in the final days of June, instead of early July as planned. We expect this business area\u2019s total sales in the third quarter to be around 25% lower than in the second quarter of this year.\u201d<\/p>\n<p>Industrial Solutions sales increased to SEK 676 million (580); adjusted for currency, sales grew by 10%. Operating profit (EBITA) was SEK\u00a037\u00a0million (62), with an EBITA margin of 5.5% (10.7).<\/p>\n<p>\u201cVolumes were more or less unchanged in the quarter, partly because of a component shortage, particularly in automotive. This has affected customer demand and led to fluctuating production planning for Nolato,\u201d noted Christer Wahlquist. \u201cThis has resulted in lower production efficiency, which, together with a time lag in the charging on of cost increases, has had an adverse effect on profit and margin.\u201d<\/p>\n<p>Consolidated sales totaled SEK 5,784 million (5,431) for the first six months of 2022. Adjusted for currency, this was a decrease of 3%. Operating profit (EBITA) was SEK 531 million (SEK 644 million excluding a positive non-recurring item of SEK 50 million in the form of a waiver for a loan by US government authorities relating to the pandemic) and the EBITA margin was 9.2% (11.9% excluding the non-recurring item). Diluted earnings per share were SEK 1.45 (SEK 1.74 excluding the non-recurring item) and cash flow after investments was SEK \u201323 million (417).<\/p>\n<p>The Group\u2019s financial position remains strong, with net financial debt of SEK 640 million (194) and an equity\/assets ratio of 49% (45).<\/p>\n<p>\u201cAs a global strategic partner for a large number of customers, we can look ahead with confidence, despite continued external challenges in the second quarter of 2022,\u201d said Christer Wahlquist. \u201cWe have continually advanced our market positions and have good financial flexibility. This enables us to invest in continued expansion, both organically and through acquisitions, to further bolster our global offering over time.\u201d<\/p>\n<\/div>\n<div class=\"mfn-footer mfn-contacts mfn-f7d2b6eafad2\">\n<p><strong class=\"mfn-heading-1\">Contact<\/strong><\/p>\n<hr \/>\n<p>For further information, please contact:<br \/>Christer Wahlquist, President and CEO, +46 (0)705 804848<br \/>Per-Ola Holmstr\u00f6m, CFO, +46 (0)705 763340, <a href=\"mailto:per-ola.holmstrom@nolato.com\" target=\"_blank\" rel=\"nofollow noopener\">per-ola.holmstrom@nolato.com<\/a><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-about mfn-3b308a4d228b\">\n<p><strong class=\"mfn-heading-1\">About Us<\/strong><\/p>\n<hr \/>\n<p><em>Nolato is a Swedish group with operations in Europe, Asia, and North America. We develop and manufacture products in polymer materials such as plastic, silicone and TPE for leading customers within medical technology, pharmaceuticals, consumer electronics, telecom, automotive, hygiene and other selected industrial sectors. Nolato\u2019s shares are listed on Nasdaq Stockholm in the Large Cap segment, where they are included in the Industrials sector. \u00a0<\/em><em><a target=\"_blank\" href=\"https:\/\/www.nolato.com\/ir\" rel=\"nofollow noopener\">www.nolato.com\/IR<\/a><\/em><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-regulatory mfn-regulatory-mar-vpml\">\n<p><em>This information is information that Nolato is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-07-20 14:00 CEST.<\/em><\/p>\n<\/div>\n<div class=\"mfn-footer mfn-attachment mfn-attachment-general\">\n<p><strong class=\"mfn-heading-1\">Attachments<\/strong><\/p>\n<hr \/>\n<p><a class=\"mfn-primary\" href=\"https:\/\/storage.mfn.se\/b866d030-eb57-48eb-a582-065f28a7b432\/nolato-q2-2022-interim-report.pdf\" target=\"_blank\" rel=\"nofollow noopener\">Nolato Q2 2022 Interim Report<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Second quarter of 2022 in brief Sales increased to SEK 2,905 million (2,786) Operating profit (EBITA) was SEK\u00a0264 million (SEK 336 million excl. a positive non-recurring item of SEK 50 million) EBITA margin of 9.1% (12.1%, excl. non-recurring item) Profit after tax was SEK 190 million (291) Diluted earnings per share were SEK 0.71 (SEK&hellip; <a class=\"more-link\" href=\"https:\/\/temporary.nolato.com\/es\/mfn_news\/external-challenges-impacting-performance\/\">Continue reading <span class=\"screen-reader-text\">External challenges impacting performance<\/span><\/a><\/p>\n","protected":false},"template":"","class_list":["post-659","mfn_news","type-mfn_news","status-publish","hentry","mfn-news-tag-mfn-lang-en","mfn-news-tag-mfn-report-interim","mfn-news-tag-mfn-type-ir","mfn-news-tag-mfn-regulatory-mar","mfn-news-tag-mfn","mfn-news-tag-mfn-report-interim-q2","mfn-news-tag-mfn-regulatory","mfn-news-tag-mfn-report","mfn-news-tag-mfn-regulatory-vpml","entry"],"translation":{"provider":"WPGlobus","version":"3.0.0","language":"es","enabled_languages":["en","es","de","fr","ru","sv"],"languages":{"en":{"title":true,"content":true,"excerpt":false},"es":{"title":false,"content":false,"excerpt":false},"de":{"title":false,"content":false,"excerpt":false},"fr":{"title":false,"content":false,"excerpt":false},"ru":{"title":false,"content":false,"excerpt":false},"sv":{"title":false,"content":false,"excerpt":false}}},"_links":{"self":[{"href":"https:\/\/temporary.nolato.com\/es\/wp-json\/wp\/v2\/mfn_news\/659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/temporary.nolato.com\/es\/wp-json\/wp\/v2\/mfn_news"}],"about":[{"href":"https:\/\/temporary.nolato.com\/es\/wp-json\/wp\/v2\/types\/mfn_news"}],"wp:attachment":[{"href":"https:\/\/temporary.nolato.com\/es\/wp-json\/wp\/v2\/media?parent=659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}