Eltek ASA Report third quarter 2013
(Thomson Reuters ONE) -
(Drammen, 25 October 2013) Eltek reported revenue of NOK 1,012 million and an
order entry of NOK 982 million in the third quarter 2013, representing increases
of 20 percent and six percent over the third quarter last year. Gross margin
increased to 29.3 percent (28.5), and operating result (EBIT) before one-off
costs increased by 86 percent to NOK 114 million. Including one-off costs the
EBIT was NOK 89 million. Profit before tax increased 76 percent to NOK 68
million, and net profit was NOK 53 million in the third quarter.
For the first nine months, Eltek reported a nine percent increase in revenue to
NOK 2,755 million and a six percent increase in order entry to NOK 2,833
million. Order backlog at the end of the first nine months was NOK 810 million,
an increase of five percent compared to the end of the first nine months 2012.
Operating profit (EBIT) for the first nine months increased 30 percent to NOK
201 million, whereas profit before tax increased 56 percent to NOK 144 million.
Net profit was NOK 109 million in the first nine months 2013.
The company continues to see a relatively active telecom power market, and
believes its High Efficiency technology and cost-efficient product portfolio
will continue to allow for growth in the telecom power market in the longer
term.
The market outlook remains positive also for the industrial applications
business, although revenue growth has fallen below expectations so far this
year.
Overall Eltek is entering the fourth quarter with a five percent higher order
backlog than the company had at the same time last year. This said, the backlog
is lower than in the beginning of third quarter and the revenue visibility for
the fourth quarter is relatively low.
Eltek is increasingly focused on its core operations, and in September divested
its E-Vehicles activities. The company is considering alternatives for its
Renewable business, which has been underperforming, and expects to make a
decision in the fourth quarter. The total investment in Renewables amount to
about NOK 110 million.
The company hosts a presentation and subsequent Q&A session on a combined
webcast and conference call at 8:30 CEST today.
Webcast: Click on the webcast link on www.eltek.com/ir
Conference call: Please dial-in 5 minutes prior to start time using the below
number and confirmation code.
Norway: +47 2316 2729
International: +44 (0) 20 3427 1918
US: +1 212 444 0412
Participants will be asked for the name, company, and the conference ID number
1826922
Please find enclosed the interim report for the third quarter 2013 on
http://www.newsweb.no
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act).
3Q 2013 Financial Information Eltek:
http://hugin.info/86881/R/1738148/583038.pdf
3Q 2013 Report Eltek:
http://hugin.info/86881/R/1738148/583037.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(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#1738148]
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2013 - 07:00 Uhr
Sprache: Deutsch
News-ID 309321
Anzahl Zeichen: 3805
contact information:
Town:
Drammen
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 162 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Eltek ASA Report third quarter 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Eltek ASA (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
