Moving Forward with a Stronger Eltek
Eltek continued to make good progress in 2011, reporting double-digit revenue growth and better margins.More
Group CEO
Colin Howe
Colin Howe
HIGHLIGHTS
A Global Leader in
Power Electronics
Eltek fortified its position as one of the global leaders in the power electronics industry in 2011, reporting revenue growth, improved gross margin, continuous cost control and higher results. Telecom Power and Industrial applications are the main growth drivers in the current market environment, although the company has begun to make inroads also into the solar power converter market and the electric vehicle market.
Strategic
Focus
The company’s strategic focus lies on the core activities in power conversion, and the divestment of Nera Networks in January 2011 strengthened the financial fundament for the development of the continuing business. The financial flexibility was further enhanced through a Group refinancing that was completed in September 2011. Nera Telecommunications
to be Divested
The cultivation of the core business continues in 2012, and the company has entered into an agreement, on certain conditions, to divest its 50.05 percent shareholding in Nera Telecommuni-cations. The proposed acquisition is for all the shares of Nera Telecommuni-cations and it will recquire approval by the shareholders at a shareholder meeting. The transaction is expected to be finalized during the summer 2012. Selected Figures (NOK millions)
| Revenue | 3,565.1 |
|---|---|
| EBIT | 242.9 |
| Profit before tax, cont. opr. | 155.3 |
| Net profit | 144.1 |
| Total capital | 3,753.8 |
| Equity | 1,224.9 |
Share Price 2011 (NOK)
More
Report of the Board of Directors
Eltek is a global leader in the power conversion market and a divestment of Nera TelecommunicationsMore
Chairman of the Board
Erik Thorsen
Erik Thorsen
Downloads
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