Company Overview of Eltek ASA
Eltek ASA, through its subsidiaries, develops, manufactures, and markets power systems and solutions for telecommunication and datacenter, power utilities, railway and metro, marine and offshore, and oil and gas industries. The company’s power systems build on various power conversion modules and controllers that are assembled into complete solutions meeting the required power and voltage ratings for different applications. It offers converters, rectifiers, inverters, monitoring products, systems, enclosures, static bypass switches, and solar converters. The company also provides a range of services, including site surveys, project management, installation and commissioning, preventive maint...
Founded in 1971
Key Executives for Eltek ASA
Executive Vice President of Global Operations
Chief Executive Officer of Nera Telecommunications and President of Nera Telecommunications
Compensation as of Fiscal Year 2014.
Eltek ASA Key Developments
Eltek ASA Approvs Amendments to Articles of Association
Apr 24 15
Eltek ASA announced that at the extraordinary general meeting held on April 20, 2015, the shareholders approved amendments to the company's Articles of Association.
Eltek ASA Announces Group and Parent Earnings Results for the Year Ended December 31, 2014
Apr 10 15
Eltek ASA announced group and parent earnings results for the year ended December 31, 2014. Revenue for the continuing operations in the Eltek Group increased 4% to NOK 3,809 million in 2014 compared to NOK 3,671 million in 2013. Changes in currencies had a positive effect on revenue for the full year 2014. Excluding currency effects, revenue growth was marginal. Operating profit before interest and tax (EBIT) amounted to NOK 158 million in 2014, a decrease of 47% from NOK 295.5 million in 2013. The operating margin fell from 8.0% to 4.1%. Adjusted for one-off costs the EBIT fell marginally to NOK 329 million compared to NOK 333 million in 2013, corresponding to an operating margin of 8.6%. The continuing operations of the Eltek Group reported a profit before tax of NOK 99 million in 2014 compared to NOK 216 million in 2013, including one-off costs of NOK 172 million. Profit from continuing operations hence decreased to NOK 61 million in 2014, from NOK 129 million in 2013. Net profit attributable to equity holders of the Company was NOK 24.4 million or NOK 0.09 per diluted share against NOK 50.0 million or NOK 0.15 per diluted share a year ago. Diluted earnings per share from continuing operations were NOK 0.18 against NOK 0.39 per share a year ago. Net cash flow from operating activities was NOK 278.5 million against NOK 309.1 million a year ago. Investments in intangibles and property, plant & equipment was NOK 128.1 million against NOK 122.2 million a year ago. EBITDA was NOK 266.6 million against NOK 398.1 million a year ago. Return on capital was 1.9% against 2.9% a year ago. Return on equity was 2.9% against 4.3% a year ago.
The parent company reported operating loss of NOK 147.6 million against NOK 26.6 million a year ago. Loss before income tax was NOK 114.5 million against profit before income tax of NOK 94.1 million a year ago. Loss for the year was NOK 92.4 million against profit of NOK 60.2 million a year ago. Net cash flow from operating activities was NOK 117.9 million against NOK 158.4 million a year ago.
Eltek ASA Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2014
Feb 13 15
Eltek ASA reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported revenue of NOK 1,068 million against NOK 973 million a year ago. EBITDA was NOK 37 million against NOK 112 million a year ago. EBIT was NOK 10 million against NOK 88 million a year ago. Pre-tax profit was NOK 19 million against pre-tax loss of NOK 66 million a year ago. Net profit from continuing operations was NOK 16 million or NOK 0.05 per diluted share against net loss from continuing operations of NOK 15 million or NOK 0.05 per diluted share a year ago. Net profit was NOK 16 million against net loss of NOK 59 million a year ago. Operating profit was NOK 9.7 million against NOK 88.4 million a year ago. Net loss attributable to equity holders of the company was NOK 21.8 million against NOK 57.7 million a year ago. Cash flow from operations was NOK 169.8 million against NOK 115.5 million a year ago. Capex, fixed assets was NOK 20.4 million against NOK 14.2 million a year ago. Capitalized intangibles were NOK 26.4 million against NOK 23.6 million a year ago. Adjusted EBIT was NOK 129 million and adjusted EBITDA NOK 156 million. Free cash flow from continuing operations was positive NOK 105 million.
For the year, the company reported revenue of NOK 3,809 million against NOK 3,671 million a year ago. EBITDA was NOK 286 million against NOK 398 million a year ago. EBIT was NOK 177 million against NOK 295 million a year ago. Pre-tax profit was NOK 118 million against NOK 216 million a year ago. Net profit from continuing operations was NOK 80 million or NOK 0.24 per diluted share against NOK 129 million or NOK 0.39 per diluted share a year ago. Net profit was NOK 48 million against NOK 50 million a year ago. Operating profit was NOK 177.2 million against NOK 295.5 million a year ago. Net profit attributable to equity holders of the company was NOK 41.2 million against NOK 50.0 million a year ago. Cash flow from operations was NOK 278.5 million against NOK 309.1 million a year ago. Capex, fixed assets was NOK 43.1 million against NOK 40.8 million a year ago. Capitalized intangibles were NOK 5.0 million against NOK 81.4 million a year ago.
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