Eltek ASA: Report first quarter 2012
(Thomson Reuters ONE) -
Eltek reported revenue of NOK 786 million for the continuing operations in the
power electronics market in the first quarter 2012, reflecting a seasonal
slowdown from the previous quarter. Operating profit (EBIT) was NOK 27 million
and profit before tax NOK 7 million for the continuing business in the first
quarter 2012.
As previously announced Eltek has entered into an agreement -subject to certain
conditions- to divest all its shares in NeraTel for SGD 81.4 million. The Income
Statement therefore reflects NeraTel's net profit on one line as discontinued
operations.
Net profit for the continuing operations was NOK 6 million in the first quarter
2012, whereas net profit from discontinued operations was NOK 32 million. Group
net profit was thus NOK 38 million.
Order entry in the continuing business was NOK 847 million in the first quarter,
an increase of four percent from the first quarter last year. This contributed
to an increase of seven percent in order backlog during the first quarter.
Eltek currently sees a relatively high level of activity in the telecom market,
with a high number of bid requests and quotes for both replacement contracts,
upgrades of existing networks and new network rollouts (LTE/4G). Demand
continues to be driven by higher capacity requirements, generating opportunities
with both wireless and wireline operators.
Industrial Applications continues to develop positively, with the main growth
contributions coming from focus areas in Power Utilities and Railway & Metro.
Eltek sees significant project opportunities in large markets such as China,
India and Brazil.
Eltek has realigned its Renewable operations in response to the market
environment, and focuses its efforts on its own-label string inverters. Within
electric vehicles Eltek currently focuses on deliveries under existing R&D
contracts.
Revenue is expected to increase from the first to the second quarter 2012.
Please find enclosed the interim report for the first quarter 2012 on
http://www.newsweb.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).
1Q 2012 Financial Information Eltek:
http://hugin.info/86881/R/1606114/508946.xls
1Q 2012 Report Eltek:
http://hugin.info/86881/R/1606114/508947.pdf
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originality of the information contained therein.
Source: Eltek ASA via Thomson Reuters ONE
[HUG#1606114]
Unternehmensinformation / Kurzprofil:
Datum: 26.04.2012 - 08:26 Uhr
Sprache: Deutsch
News-ID 139461
Anzahl Zeichen: 3129
contact information:
Town:
Drammen
Kategorie:
Business News
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