Swedish injection moulder Nolato (Toreskov; www.nolato.com) has announced the departure of Johan Arvidsson, a management board member and president of the Industrial Solutions business area. He is set to take on the role of CEO at structural core materials producer Diab (Laholm, Sweden; www.diabgroup.com) from October 2022 onwards, according to Diab. Nolato CEO Christer Wahlquist will temporarily take on the responsibilities of the Industrial Solutions president, until a permanent replacement has been appointed. Arvidsson has been part of the Swedish company’s top management for more than a decade, having worked for the company since 1994.

The announcements came after Nolato disclosed that full-year 2021 operating profit grew 27.19% at SEK 1.33 bn (EUR 126 mn), with the Industrial Solutions recording the fastest growth rate among the three business areas, even though it had the slowest pace of sales expansion. Group sales soared by nearly a quarter at SEK 11.61 bn and increased 18%, excluding currency effects and acquisitions. Profit after tax climbed 44% to SEK 1.16 bn.

Related: Nolato reports highest ever quarterly operating profit

Sales at Integrated Solutions rose 28.5% to SEK 5.23 bn on the back of strong growth in both Vaporiser Heating Products and Electromagnetic Compatibility (EMC) business units. EMC sales expanded sharply due to demand in telecom and automotive sectors. EBITA climbed 22.5% at SEK 671 mn. Nolato believes first quarter sales will be in line with the fourth quarter of 2021.

Medical Solutions business area was the star performer in terms of sales at SEK 4.07 bn, or a 31.6% improvement on strong demand particularly in diagnostics. EBITA had a 13.7% lift at SEK 457 mn.

Industrial Solutions’ sales of SEK 2.32 bn widened 5.4% amidst supply chain disruptions and component shortages that caused some customers to halt production or cut manufacturing capacity. EBITDA growth, however, was 83.33% at EUR 208 mn.