2011 in Brief
Eltek fortified its position as one of the global leaders in the power electronics industry in 2011, with Telecom Power and Industrial applications as the main growth drivers.The focus on the core business was sharpened with the divestment of Nera Networks, which also strengthened the financial platform for the continuing operations. This process continues with the proposed divestment of the company’s 50.05 percent shareholding in Nera Telecommunictions in 2012. The below figures reflect the developments in the continuing operations, e.g. excluding Nera Telecommunications.
Positive Financial Performance in 2011:
- Revenue growth of 13% to NOK 3.6 billion
- Positive development in gross margin to 27.1% (26.7%)
- Continued good cost control
- EBIT up 78% to NOK 243 million (137)
The continuing operations reported a net result of NOK 112 million in 2011, up from NOK 86 million in 2010.
Revenue, Gross Margin and EBIT
2009 and 2010 reclassified to reflect divestment Nera Networks and NeraTelecommunications