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NOTE adjusts the guidance for the full year 2023

NOTE estimates sales for the full year 2023 to 4.21-4.26 billion SEK, compared with previous guidance of 4.3 billion SEK.

For the fourth quarter 2023 sales is estimated to 1,050-1,100 million SEK with an operating margin of 8.5%-9.0%. For the first nine months of the year, the corresponding operating margin was 9.9%.

The lower levels are explained by delays in ramp-ups of several customer projects, above all within the defense industry, and increasing costs related to production adjustments in sites where sales were lower than expected at the beginning of the quarter.

For 2024, NOTE estimates sales in the interval 4.5-4.8 billion SEK with an operating margin of 10%. The operating margin is estimated to successively strengthen during the year.

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