STOCKHOLM – Note expects a continued positive earnings trend, with operating margin for the third quarter estimated to amount to approximately 8%, a significant increase in margins compared with last year.
The development is particularly strong in Sweden and Finland. However, demand in England and China is at a lower level, primarily as an effect of the current pandemic. Together with delays in some new customer projects, this contributes to sales growth during the quarter – measured in local currencies – expected to amount to around 3%, which is slightly lower than the electronics manufacturing services firm’s growth target.
“Our underlying business is developing strongly. We continue to win new projects with customers in our existing customer base and continue to win the trust of new customers in a convincing way. We are optimistic about the future, even though demand in some of our markets has dampened our growth after the summer,” said Johannes Lind-Widestam, CEO and president.