Business Segments NOTE AB

Stocks

Real-time Estimate Cboe Europe 15:47:09 03/09/2026 BST			5-day change	1st Jan Change
173.00 ^SEK	+5.55%		+6.02%	-5.06%

06:35am	Note wins defense contract worth 160 million kronor	FW
09-01	Pareto crushed the index, swaps out half the portfolio ahead of September	FW

Breakdown by Business Segment (SEK)

Fiscal Period: December	2021	2022	2023	2024	2025
Outsourced Technology Manufacturing Services
Western Europe	1.87B	2.56B	3.11B	3.02B	2.85B
Total Assets	1.71B	2.29B	2.85B	2.84B	3.84B
CAPEX	-50.94M	-64.88M	-	-106M	-108M
D&A	51.58M	65.99M	87.52M	95.56M	99.4M
Operating Income	194M	274M	291M	317M	296M
Rest of World	883M	1.19B	1.2B	925M	1.02B
Total Assets	582M	754M	787M	809M	760M
CAPEX	-13.71M	-11.13M	-	-8.24M	-18.89M
D&A	9.92M	12.1M	18.7M	20.14M	21.39M
Operating Income	71.87M	90.89M	90.9M	48.55M	84.44M
	-	-	-	-	24.06M
	-	-	-	-	36.06M
Intra-Group	-107M	-65.33M	-65.82M	-44.25M	-60.12M
Total Assets	-218M	-276M	-416M	-439M	-1.17B
CAPEX	-2.02M	-38K	-	-52.19M	-58.47M
D&A	4.87M	5.15M	5.61M	5.89M	2.38M
Operating Income	-15.31M	-19.78M	48.2M	-13.4M	616K

Geographical breakdown of sales (SEK)

Fiscal Period: December	2021	2022	2023	2024	2025
Sweden	1.11B	1.67B	1.99B	1.74B	1.93B
Total Assets	234M	282M	389M	465M	556M
	-	-	-	-	49.9M
England	554M	731M	853M	731M	584M
Total Assets	132M	125M	281M	278M	647M
	-	-	-	-	365M
Rest of Europe	182M	374M	445M	461M	365M
	-	-	-	-	280M
Finland	185M	198M	221M	271M	280M
Total Assets	23.1M	27.4M	27.4M	23.5M	23.3M
	-	-	-	-	71.2M
China	201M	213M	166M	184M	270M
Total Assets	34.9M	29.9M	26M	34.2M	24.8M
	-	-	-	-	118M
Germany	113M	132M	194M	211M	208M
	-	-	-	-	270M
USA	161M	192M	252M	194M	118M
Total Assets	-	-	-	41.8M	37.3M
Italy	79.5M	90M	52.4M	52.3M	71.2M
	-	-	-	-	208M
Rest of The World	57.2M	90.7M	67.1M	60M	49.9M
Total Assets	4.5M	6M	8.2M	13.3M	13.9M
Total Assets	28.8M	36.3M	55M	54.3M	57.7M
	-	-	-	-	584M
	-	-	-	-	1.93B