Eltek ASA: Report second quarter and first half year 2013
(Thomson Reuters ONE) -
(Drammen. 17 July 2013) Eltek reported revenue of NOK 930 million and order
entry of NOK 1,024 million in the second quarter 2013, representing increases of
three percent and 15 percent, respectively, compared to the second quarter last
year. Gross margin was stable at 27.9 percent (28.0), and operating profit
(EBIT) increased 15 percent to NOK 77 million in reflection of revenue growth
and lower operating costs. Net financial items were negatively affected by
currency effects on loans denominated in foreign currency and interest costs
related to early redemption of a bond loan, leading to a two percent decline in
profit before tax to NOK 46 million. Net profit was NOK 34 million in the second
quarter.
For the first half year, Eltek reported a three percent increase in revenue to
NOK 1,743 million and a six percent increase in order entry to NOK 1,852
million. Order backlog at the end of the first half year was NOK 870 million, an
increase of 22 percent compared to the same period last year. Operating profit
(EBIT) for the first half year increased 20 percent to NOK 112 million, whereas
profit before tax increased 41 percent to NOK 76 million. Net profit was NOK 56
million in the first half 2013.
Increasing mobile data traffic is the main underlying growth driver in the
global telecom market, supporting both roll-outs of new high-capacity networks
and replacements of old and inefficient equipment in existing networks. Eltek's
High Efficiency technology and cost-efficient product portfolio should continue
to allow for growth in this market. The company also sees a positive outlook for
the more project-based industrial applications business, where revenue in the
first half of the year was held back by project delays.
Overall, Eltek expects to show sequential revenue growth in the second half
2013.
The company hosts a presentation and subsequent Q&A session on a combined
webcast and conference call at 8:30 CEST today.
Webcast:
http://media01.smartcom.no/Microsite/go.aspx?eventid=7151&urlback=null&bitrate=1
6648347 or follow the webcast link on the investor relations section on the
company web site.
Conference call: Please dial-in 5 minutes prior to start time using the below
number and confirmation code.
Norway: +47 2316 2771
International: +44 (0) 20 3427 1912
US: +1 1646 254 3365
Participants will be asked for the name, company, and the conference ID number
9157870.
Please find enclosed the interim report for the second quarter and first half
year 2013 on http://www.newsweb.no.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).
2Q 2013 Report Eltek:
http://hugin.info/86881/R/1716846/570738.pdf
2Q 2013 Financial Information Eltek:
http://hugin.info/86881/R/1716846/570739.pdf
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Eltek ASA via Thomson Reuters ONE
[HUG#1716846]
Unternehmensinformation / Kurzprofil:
Datum: 17.07.2013 - 07:01 Uhr
Sprache: Deutsch
News-ID 279046
Anzahl Zeichen: 3718
contact information:
Town:
Drammen
Kategorie:
Business News
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