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NOTE (NOTE) investor relations material
NOTE M&A announcement summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Deal rationale and strategic fit
Acquisition of STI expands presence in the defence segment, enhancing capabilities in advanced electronic solutions for air, land, cyber, and marine domains.
Strengthens position as a leading EMS partner in the UK, complementing existing operations and supporting long-term sustainable growth.
Provides a platform to accelerate growth and broaden offerings in the UK and international defence industries.
Financial terms and conditions
Purchase price is GBP 72.5 million on a cash and debt-free basis, with an adjusted EV/EBITDA multiple of approximately 10x.
Acquisition financed through SEK 900 million in credit facilities, SEK 400 million due within 12 months.
Synergies and expected cost savings
Acquisition expected to create significant growth opportunities through combined technological capabilities and customer relationships.
- Sales and profit fell, but margins and cash flow improved as investments support future growth.NOTE
Q2 20243 Feb 2026 - Record Q4 profitability and strategic acquisitions drive growth despite market softness.NOTE
Q4 20252 Feb 2026 - Sales fell 22% in Q3, but strong cash flow and expansion plans support future growth.NOTE
Q3 202419 Jan 2026 - Double-digit profitability and stable growth expected, with defense and medtech leading future gains.NOTE
CMD 202411 Jan 2026 - Margins and cash flow improved as sales declined, supporting a positive 2025 outlook.NOTE
Q4 20249 Jan 2026 - Profitability and cash flow hit highs, with Security & Defence and Greentech driving growth.NOTE
Q1 202523 Dec 2025 - Strong Q2 sales and cash flow, with H2 growth expected despite FX and market headwinds.NOTE
Q2 202516 Nov 2025 - Q3 2025 saw strong growth, profitability, and a strategic UK acquisition for future expansion.NOTE
Q3 202520 Oct 2025
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