Eltek ASA: Report second quarter 2012

Eltek reported revenue of NOK 905 million for the continuing operations in the power electronics market in the second quarter 2012, which was an increase of six percent from the same quarter last year. Operating profit (EBIT) was NOK 67 million and profit before tax NOK 47 million for the continuing business in the second quarter 2012.

Net profit from the continuing operations was NOK 38 million in the second quarter 2012. Including Nera Telecommunications (NeraTel), which is treated as discontinued operations in the Income Statement, net profit amounted to NOK 56 million. As announced on 6 July, 2012, the proposed sale of NeraTel was rejected by a NeraTel shareholder meeting, and Eltek will evaluate its strategic options for this investment.

Order entry in the continuing business was NOK 893 million in the second quarter, an increase of five percent from the second quarter last year.

Eltek continued to see a relatively high level of activity in the telecom market in the reporting period, and double-digit revenue growth within its Industrial applications business.

For the first half year 2012, revenue increased by two percent to NOK 1,691 million, whereas order entry increased by five percent to NOK 1,740 million. Operating profit (EBIT) amounted to NOK 93 million and profit before tax to NOK 54 million for the continuing business in the first half 2012. Net profit from the continuing operations was NOK 44 million in the first half year, whereas net profit including Nera Tel amounted to NOK 94 million.

Please find enclosed the interim report for the second quarter and first half year 2012 on http://www.newsweb.no.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian Securities Trading Act).