STOCKHOLM – NCAB Group reported sales of SEK 1.62 billion ($169.7 million) for 2018, up 15% from the year before. Profit after tax climbed 159% to SEK 104.6 million.

Gross margin rose 110 basis points to 31.3%. EBITA jumped 88% to SEK 132.2 million. Adjusted EBITA was SEK million 143.8, up 27%. Adjusted EBITA margin was 8.9%.

Growth was particularly strong in the Europe and East segments, while the Nordic segment reported sustained high profitability. North American sales were unchanged. Revenues were impacted in part from a US-imposed import tariff of 10% on goods for resale from China, fees which NCAB directly passed to its customers in the US.

The printed circuit board distributor went public on the Nasdaq Stockholm exchange in June.

The company expanded in Malaysia in August; Stuttgart, Germany in September; and the Netherlands in November.

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