Swedish injection moulder Nolato (Torekov; www.nolato.se) has reported a 20% year-on-year fall in operating profit (EBITDA) to SEK 457m (EUR 48.4m) in 2016 on sales down 6% at SEK 4.45 bn.

In the company’s medical business, operating profit increased by 10% year-on-year to SEK 216m, on sales up 13% at SEK 1.64 bn. Christer Wahlquist, Nolato president and CEO, said that volumes had increased in both sectors of the business, with most customer segments seeing healthy growth. “The year was marked by high project activity and healthy capacity utilisation,” he added.

Operating profit in the company’s telecoms business fell to SEK 131m in 2016 from SEK 272m in the previous year. Sales dropped by 30% to SEK 1.40 bn. “Volumes in 2015 were very strong owing to very high consumer market demand for customers’ mobile phone models. Product changeovers took place according to plan in 2016. EMC business continued to show positive performance, as did the business area’s activities in segments alongside mobile phones,” Wahlquist said.

Nolato Industrial’s operating profit rose by 2% year-on-year to SEK 134m on sales up 13% at SEK 1.41 bn. “Volumes primarily in the automotive and hygiene segments performed well,” Wahlquist said, “Continued investments in technology and increased market share had a positive impact, while high costs associated with new project start-ups affected the margin negatively.”