Eltek ASA - Report second quarter and first half year 2011
(Thomson Reuters ONE) -
Eltek reported continued growth in revenue and order entry with improved gross
margin and higher operating profit (EBIT) for the second quarter 2011. Revenue
amounted to NOK 1,030 million, up four percent from the second quarter 2010,
whereas EBIT increased by 10 percent to NOK 67 million. Profit before tax was
NOK 46 million and net profit NOK 33 million in the second quarter.
Eltek Valere reported revenue of NOK 854 million in the second quarter, an
increase of 12 percent from the second quarter 2010 and up 19 percent on a
currency adjusted basis. Gross margin was 27.1 percent, contributing to a 16
percent increase in EBIT to NOK 61 million. Order entry declined 1 percent to
NOK 847 million, and the order book stood at NOK 762 million at the end of the
first half year.
Nera Telecommunications reported a revenue decline of 21 percent to NOK 176
million in the second quarter, mainly due to contract delays within the
transmission segment, and a 25 percent decline in EBIT to NOK 15 million.
However, order entry increased by 52 percent to NOK 228 million, and the order
book was NOK 325 million at the end of the first half 2011.
For the first half year 2011, total revenue in Eltek increased by 11 percent to
NOK 2,011 million, whereas EBIT more than doubled to NOK 127 million. Profit
before tax was NOK 80 million and net profit from continuing operations NOK 53
million for the first half year, whereas net profit including discontinued
operations was NOK 24 million.
The good revenue growth in the first half 2011 was driven by continued strong
performance in Eltek Valere, and all business units have attracted new business
opportunities over the summer.
Going forward, there is increased uncertainty relating to the global economic
development and the potential effects on the demand for the company's products
and services.
Eltek Valere reported strong revenue figures in the second half 2010, which will
be challenging to match in the second half 2011.
For Eltek, the increased risk and reduced demand visibility emphasizes the need
to retain focus on operational efficiency and working capital management going
forward.
Please find enclosed the interim report for the second quarter and first half
year 2011 on http://www.newsweb.no
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.
2Q 2011 Key Figures Eltek:
http://hugin.info/86881/R/1539205/470307.pdf
2Q 2011 Report Eltek:
http://hugin.info/86881/R/1539205/470308.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#1539205]
Unternehmensinformation / Kurzprofil:
Datum: 18.08.2011 - 08:26 Uhr
Sprache: Deutsch
News-ID 57353
Anzahl Zeichen: 3405
contact information:
Town:
Drammen
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 171 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Eltek ASA - Report second quarter and first half year 2011"
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).
