On November 5, NCAB Group, a leading printed circuit board (PCB) company, reported a decline in sales and operating profit for Q3 2024 compared to the same period last year, primarily due to the weak global industrial economy. The company's CEO, Peter Kruk, highlighted that Europe, especially Germany, saw significant economic slowdown, delaying the anticipated market recovery. In contrast, North America and Asia showed relative stability, with potential growth opportunities despite the lack of clear, overall growth.

The company's Q3 sales fell by 10.7% to SEK 898 million (approximately USD 81 million), marking a 7% decline in dollar terms. Operating profit dropped to SEK 100 million, reflecting an 11.1% operating margin, compared to 16% in Q3 of the previous year. Earnings per share decreased by 54.2%, from SEK 0.59 to SEK 0.27, and cash flow from operating activities decreased to SEK 119 million, down from SEK 260.4 million in 2023. Kruk noted that despite challenging conditions, NCAB's cash flow and maintained margins position it well for expanding market share once the market improves.

In addition to the earnings report, board member Gunilla Rudebjer sold 30,000 NCAB shares on November 7, at an average price of SEK 66.24 per share, totaling just under SEK 2 million. This transaction was disclosed in Finansinspektionen's transparency register.

NCAB continues to monitor the market closely and remains committed to its expansion strategy, ready to capture growth as conditions stabilize.