# NCAB Group

> Clarifo company profile — qualitative business description generated from
> the company's filings. Financial statements, charts and ratios are
> available on Clarifo (https://www.clarifo.com/en/companies/ncabgroup).

## Overview

NCAB Group is a prominent supplier of printed circuit boards (PCBs), focusing on delivering high-mix, low-volume specialized products. The company operates globally, with a strong presence in Europe, North America, and Asia, sourcing primarily from external suppliers in China. NCAB Group emphasizes sustainability and cost-efficiency, ensuring on-time delivery with zero defects. Founded in 1993, it has grown through both organic expansion and strategic acquisitions, maintaining a robust entrepreneurial culture.

## Products & services

• High-Mix Low-Volume (HMLV) PCBs
• Technical design support
• Customer support services
• Sustainable PCB solutions
• Supply chain management
• Local presence in 19 countries

- **PCBs** (100%) — High-Mix Low-Volume specialized PCBs

- High-Mix Low-Volume (HMLV) PCBs
- Technical design support
- Customer support services
- Sustainable PCB solutions
- Supply chain management
- Local presence in 19 countries

## Customers

NCAB Group serves a diverse range of customers across various industries, including aerospace, defense, medtech, and EV charging sectors. The company's customer base is characterized by demanding requirements for quality and reliability, often involving complex and specialized PCB needs. NCAB's local presence in key markets ensures close collaboration with clients, providing technical and customer support throughout the production process. The company has successfully expanded into new customer segments, enhancing its growth potential.

- **Aerospace and Defense** (primary) — Reliable and high-quality PCBs for critical applications
- **Medtech** (secondary) — Specialized PCBs for medical technology applications
- **EV Charging** (emerging) — PCBs for electric vehicle charging infrastructure

- Aerospace and defense companies seeking reliable PCBs
- Medtech firms requiring specialized PCB solutions
- EV charging infrastructure providers
- Data center auxiliary system manufacturers
- Companies in need of technical design support for PCBs

## Geography

NCAB Group operates in 19 countries across Europe, Asia, and North America, with a significant portion of its PCBs sourced from China. The company has a strong presence in the Nordics, Europe, North America, and the East, with local offices providing technical and customer support. The geographic distribution allows NCAB to cater to diverse markets and manage supply chain complexities effectively. Currency fluctuations and regional economic conditions can impact the company's financial performance.

- **Nordic** (25%) — Strong performance despite FX headwinds
- **Europe** (44%) — Gradual improvements across markets
- **North America** (24%) — Stable market conditions
- **East** (7%) — Focus on demanding customers

- Strong presence in the Nordics, Europe, North America, and Asia
- PCBs primarily sourced from China
- Local offices in 19 countries for customer support
- Geographic diversity helps manage supply chain risks
- Currency fluctuations impact financial performance

## Strategy

NCAB Group's strategic priorities include expanding its customer base into new segments such as EV charging and medtech, while maintaining strong growth in existing markets like aerospace and defense. The company focuses on sustainability and cost-efficiency, ensuring high-quality products at competitive prices. Strategic acquisitions are a key component of NCAB's growth strategy, enhancing its market position and operational capabilities. The company also aims to mitigate currency risks and optimize its supply chain to improve profitability.

- **Expand into new segments** (medium-term) — To capture growth opportunities in emerging markets
- **Sustainability and cost-efficiency** (long-term) — To offer competitive pricing and meet customer demands
- **Strategic acquisitions** (short-term) — To enhance market position and capabilities

- Expand into new customer segments like EV charging and medtech
- Maintain growth in aerospace and defense markets
- Focus on sustainability and cost-efficiency
- Leverage strategic acquisitions for growth
- Mitigate currency risks and optimize supply chain

## Risks

NCAB Group faces several risks, including currency fluctuations that can impact financial performance due to its global operations. The reliance on external suppliers, primarily in China, exposes the company to geopolitical and supply chain risks. Economic downturns in key markets could affect demand for PCBs, while technological advancements may require continuous innovation. Additionally, integration of acquisitions poses operational challenges and potential disruptions.

- **Currency fluctuations** [high] — Global operations expose NCAB to exchange rate volatility
- **Geopolitical risks** [critical] — Dependence on Chinese suppliers for PCBs
- **Economic downturns** [high] — Could reduce demand for PCBs in key markets
- **Technological advancements** [medium] — Need for continuous innovation to stay competitive

- Currency fluctuations affecting financial performance
- Geopolitical risks from reliance on Chinese suppliers
- Economic downturns impacting demand in key markets
- Technological advancements requiring continuous innovation
- Operational challenges from acquisition integration

## Accounting

NCAB Group's financial statements are prepared in accordance with IAS 34 and the Swedish Annual Accounts Act. Key accounting matters include revenue recognition timing, which can be affected by order placements and delivery schedules. The company faces quarterly fluctuations due to seasonality and customer order patterns. Currency translation differences impact reported financials, and acquisition-related accounting requires careful consideration of fair value measurements. The company maintains credit insurance for trade receivables, mitigating some financial risks.

- **Revenue recognition timing** — significant
- **Currency translation differences** — notable
- **Acquisition-related accounting** — critical

- Revenue recognition timing affected by order placements
- Quarterly fluctuations due to seasonality and order patterns
- Currency translation differences impacting financials
- Acquisition-related accounting and fair value measurements
- Credit insurance for trade receivables

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*Last updated: 2026-08-11T04:04:54.722467+00:00*