Swedish injection moulder Nolato (Torekov; www.nolato.se) has reported a 67% year-on-year increase in operating profit (EBITA) to SEK 167m (EUR 17.7m) in the second quarter of 2015. Sales in the period were up 33% at SEK 1.28 bn (EUR 136.8). Sales in the first six months rose to SEK 23.3 bn (up 24%). EBITA was SEK 290m (up 49%)

Nolato president and CEO Hans Porat said: “It’s very encouraging that our strategic work, which is focussing on innovation, quality and productivity, is generating results. We are constantly making market position gains and are becoming an increasingly important partner for many of our customers.”

Operating profit in the company’s medical business increased by 2% to SEK 47m on sales up 6% at SEK 365m. Porat said that packaging volumes had remained low in eastern Europe, while price adjustments as a result of lower raw material prices had a negative impact on sales. EBITA margin fell to 12.9% from 13.4% in the second quarter of 2014.

Successful consumer sales of mobile phone models produced by Nolato’s customers contributed significantly to growth in the its telecom’s business, which saw a rise in operating profit to SEK 101m compared with SEK 30m in the second quarter of 2014 and a leap in EBITA margin to 17.3% from 8.7% a year earlier. Sales in the business increased by 70% to SEK 584m. Porat added: “High volumes and a favourable product mix with a low proportion of materials, in combination with high efficiency and capacity utilisation, explains the very strong margin.”

Operating profit in the company’s industrial business increased by 13% to SEK 34m, while sales rose by 19% to SEK 332m. EBITA margin was down slightly at 10.2%. “It’s pleasing that volumes in the automotive segment have continued to increase, and our growing market share in this business area is having a positive effect,” Porat concluded.