NOTE buys UK defence EMS leader STI and reaffirms 2026 outlook

NOTE AB ( (SE:NOTE) ) has issued an announcement.

NOTE AB has moved to deepen its presence in the defence sector by acquiring 100 percent of UK-based STI Enterprises Holdings, a specialist in advanced and mission-critical electronic solutions across air, land, cyber and marine domains. STI adds around 300 staff, two high-tech British production sites and expected 2026 revenues of about GBP 60 million, with profitability in line with NOTE, strengthening the Swedish group’s role as a key European EMS partner to major defence customers.

The GBP 72.5 million deal, financed via SEK 900 million in new credit facilities from SEB, significantly expands NOTE’s Security & Defence segment and is projected to contribute SEK 550–600 million in sales over the remainder of 2026. NOTE reaffirmed its full-year 2026 guidance, targeting an operating margin of 9.5–10.5 percent and forecasting first-quarter net sales of SEK 930–960 million with an underlying margin of 8.5–9.0 percent, supported by a strong order book, solid equity ratio and continued robust operating cash flow.

The most recent analyst rating on (SE:NOTE) stock is a Hold with a SEK205.00 price target. To see the full list of analyst forecasts on NOTE AB stock, see the SE:NOTE Stock Forecast page.

More about NOTE AB

NOTE AB is a Sweden-based electronics manufacturing services provider that produces PCB assemblies, subassemblies and box-build products for complex control, surveillance and security systems. The group offers end-to-end services from design to after-sales for mainly large, globally active corporations and northern European enterprises, operating sites in Sweden, Finland, the UK, Estonia, Bulgaria and China and generating SEK 3.8 billion in annual sales.

Average Trading Volume: 60,985

Technical Sentiment Signal: Strong Buy

Current Market Cap: SEK5.24B

See more data about NOTE stock on TipRanks’ Stock Analysis page.