NOTE’s Interim Report January–September 2014

Regulatory News:

NOTE: (STO:NOTE)

Financial Performance July–September

• Sales were SEK 235.5 (200.8) million.

• Operating profit was SEK 10.4 (-4.6) million.

• The operating margin was 4.4% (-2.3%).

• Profit after financial items was SEK 9.8 (-6.5) million.

• Profit after tax was SEK 8.7 (-7.9) million, corresponding to SEK 0.30 (-0.28) per share.

• Cash flow after investments was SEK -23.2 (6.3) million, or SEK -0.80 (0.22) per share.

Financial Performance January–September

• Sales were SEK 715.9 (651.7) million.

• Operating profit was SEK 23.7 (-0.7) million.

• The operating margin was 3.3% (-0.1%).

• Profit after financial items was SEK 20.7 (-5.2) million.

• Profit after tax was SEK 17.5 (-7.0) million, corresponding to SEK 0.61 (-0.24) per share.

• Cash flow after investments was SEK -8.3 (0.3) million, or SEK -0.29 (0.01) per share.

CEO’s comment to the Interim Report

"We have now achieved organic sales growth four consecutive quarters. Our sales so far this year has increased by 10% to SEK 715.9 (651.7) million. Projected-oriented business boosted sales growth in the third quarter to just over 17%. I consider that the sales growth in the year clearly shows that we are strengthening our position on a relatively stable European market.

Operating profit for the first nine months of the year was SEK 23.7 (-0.7) million, corresponding to an operating margin of 3.3% (-0.1%). For the third quarter the operating margin improved to 4.4% (-2.3%).

Mainly as a result of the sales growth, our cash flow after investments was negative for the first nine months of the year, SEK -8.3 million. Our balance sheet remains solid—the equity to assets ratio was almost 45% at the end of the period”, says Peter Laveson, President and CEO.

NOTE’s Interim Report for January–September is now available in PDF format on the corporate web site, www.note.eu, and attached to this message. The Year-End Report for January–December will be published on 6 February 2015.

About NOTE

NOTE is one of the leading Northern European manufacturing and logistics partners for electronics production. NOTE produces PCBAs, sub-assemblies and box build products. NOTE's offering covers the whole product lifecycle, from design to after-sales. NOTE has a presence in Sweden, Norway, Finland, the UK, Estonia and China. In 2013, net sales were SEK 907 million; the group has approximately 850 employees. NOTE is listed on the Nasdaq Stockholm Exchange. For more information, please go to www.note.eu.

NOTE AB (publ) discloses the information provided herein pursuant to the Securities Markets Act. The information was submitted for publication on 20 October 2014 at 8:30 a.m.

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