Shares in Swedish electronics manufacturer Note AB surged over 4% after it posted record quarterly profitability. The company's board proposed no dividend for 2025, reversing a 7 Swedish crown per-share payout in 2024, citing a need to preserve financial flexibility for sector transformation.

Despite a slight dip in annual sales to 3.81 billion crowns, Note’s operating margin expanded to 10%, with Q4 margins hitting 11.3%. The strong earnings overshadowed the dividend cut, as profit after tax rose to 281 million crowns for the year. This performance signals resilience in a challenging market.

CEO Johannes Lind-Widestam highlighted the quarter's performance. The company’s cash position stood at 420 million crowns at year-end. The strategic shift comes after Note’s acquisition of UK-based Kasdon Group for an initial £28.2 million, aiming to bolster its position in the electronics contract manufacturing space.