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Annual Report 2018

Key figures

  • Sales, SEK billion
  • Sales growth
  • Adjusted EBITA, SEK million
  • Adjusted EBITA margin


Financial goals


Increase market share

The aim is to increase market share in countries such as France, Italy, Germany and the USA, where NCAB still has a small share of the market, by employing new staff. In the larger countries, Germany and USA, the ambition is to open additional offices to move closer to customers.

Ensure profitability from existing customers

In markets where NCAB has a strong position, for example in the Nordic region, the aim is to deepen relationships with existing customers to improve profitability. The value of the customer offering can be improved by: focusing on the largest customers, creating global customer accounts and by generally increasing the share wallet of PCBs.

Geographical expansion

There are several large markets where NCAB has yet to establish local presence, including well-developed markets with many similarities to NCAB’s current main markets, for example the Benelux region and large and growing markets and countries in Asia, as for example India and Malaysia.

Market consolidation

NCAB is in a strong position to drive consolidation in the market. NCAB has completed successful acquisitions in recent years, for example, in connection with its expansion in the USA. With potential acquisition targets located both in markets where NCAB has yet to establish local presence as well as markets where NCAB has strong positions, there are possibilities to broaden the geographical footprint as well as increase market shares in existing markets through acquisitions.

NCAB as investment

  • Strong position in a market with stable growth and fundamental trends benefiting PCB suppliers
  • Unique proposition to customers and manufacturers
  • Long track record of profitable growth with resilience to macroeconomic shifts
  • Asset-light business model with strong cash flows
  • Experienced management team with many years of experience of managing a company with growth and good profitability