Last €1.00 EUR
Change Today -0.006 / -0.60%
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As of 2:12 AM 08/29/14 All times are local (Market data is delayed by at least 15 minutes).

eltek asa (EK9) Snapshot

Open
€1.00
Previous Close
€1.01
Day High
€1.00
Day Low
€0.99
52 Week High
06/13/14 - €1.15
52 Week Low
08/30/13 - €0.64
Market Cap
329.2M
Average Volume 10 Days
0.0
EPS TTM
--
Shares Outstanding
329.2M
EX-Date
05/7/14
P/E TM
--
Dividend
€0.74
Dividend Yield
8.96%
Current Stock Chart for ELTEK ASA (EK9)

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eltek asa (EK9) Details

Eltek ASA, through its subsidiaries, develops, manufactures, and markets power systems and solutions for telecommunications and datacenters, power utilities, railway and metro, marine and offshore, solar, and other industries. The company’s power systems build on various power conversion modules and controllers, assembled into complete solutions meeting the required power and voltage ratings for different applications. It offers converters, rectifiers, inverters, monitoring, 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 maintenance, battery maintenance, emergency services, and product repair and training. Eltek ASA offers its solutions in approximately 100 countries worldwide. The company was founded in 1971 and is headquartered in Drammen, Norway.

Founded in 1971

eltek asa (EK9) Top Compensated Officers

Group Chief Executive Officer
Total Annual Compensation: 6.0M NOK
Chief Financial Officer
Total Annual Compensation: 1.3M NOK
Compensation as of Fiscal Year 2013.

eltek asa (EK9) Key Developments

Eltek ASA Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Reports Impairment Charges for the Second Quarter Ended June 30, 2014

Eltek ASA announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company announced revenue of NOK 996.9 million compared to NOK 911.1 million for the same period a year ago. Operating profit was NOK 90.5 million compared to NOK 78.1 million for the same period a year ago. Profit before income tax was NOK 85.7 million compared to NOK 46.8 million for the same period a year ago. Net profit continuing operations was NOK 62.8 million compared to NOK 34.6 million for the same period a year ago. Net profit attributable to equity holders of the company was NOK 63 million compared to NOK 33.7 million for the same period a year ago. Basic and diluted earnings per share, from continuing operations was NOK 0.19 compared to NOK 0.11 for the same period a year ago. Cash flow from operations was NOK 31.1 million compared to cash outflow from operations of NOK 3.3 million for the same period a year ago. As the working capital is relatively stable (increase by NOK 5 million), the cash flow increase is driven by improved profitability. Capex, fixed assets was NOK 8.9 million compared to NOK 2.8 million for the same period a year ago. Capitalized intangibles was NOK 22.5 million compared to NOK 15.2 million for the same period a year ago. EBITDA was NOK 127.6 million compared to NOK 111.1 million for the same period a year ago. EBIT was NOK 100.8 million compared to NOK 85.5 million for the same period a year ago. For the six months, the company announced revenue of NOK 1,789.8 million compared to NOK 1,699 million for the same period a year ago. Operating profit was NOK 130.6 million compared to NOK 114.6 million for the same period a year ago. Profit before income tax was NOK 119 million compared to NOK 78.4 million for the same period a year ago. Net profit continuing operations was NOK 86.1 million compared to NOK 57.9 million for the same period a year ago. Net profit attributable to equity holders of the company was NOK 52.1 million compared to NOK 55.8 million for the same period a year ago. Basic and diluted earnings per share, from continuing operations was NOK 0.26 compared to NOK 0.11 for the same period a year ago. Cash outflow from operations was NOK 34.1 million compared to cash flow from operations of NOK 39.2 million for the same period a year ago. The figure reflects an increase in net working capital, partly offset by improved profitability. Capex, fixed assets was NOK 14.8 million compared to NOK 18.4 million for the same period a year ago. Capitalized intangibles was NOK 43.8 million compared to NOK 33.4 million for the same period a year ago. EBITDA was NOK 202.2 million compared to NOK 181.8 million for the same period a year ago. EBIT was NOK 148.6 million compared to NOK 129.1 million for the same period a year ago. Net increase-bearing debt was NOK 612 million, compared to NOK 457 million at the same time last year. For the second quarter ended June 30, 2014, the company reported impairment intangibles and fixed assets of NOK 0.3 million compared to NOK 1.9 million a year ago.

Eltek ASA, Q2 2014 Earnings Call, Jul 18, 2014

Eltek ASA, Q2 2014 Earnings Call, Jul 18, 2014

Eltek ASA Announces Management Changes, Effective from January 1, 2015

Eltek ASA announced several upcoming changes that will strengthen its management group. Kenneth Bodahl has been tapped to become Executive Vice President of Business Development. David Leal, currently Vice President Sales, North America, will succeed Mr. Bodahl as Regional Sales President, Asia Pacific. The changes will be effective from January 1, 2015. Kenneth Bodahl will continue to be based out of Eltek's office in Singapore until the end of 2015. David Leal has been with Eltek since 2008 and brings a wealth of experience to his new role -- having been in the power system industry since 1995, including living and working in Asia Pacific, Europe and the U.S. He holds a Bachelor's degree in Electrical Engineering from Sydney University and a Postgraduate Certificate in Management from Macquarie Graduate School of Management. Roel Cortez will succeed David Leal as Vice President Sales, North America. Cortez has been with Eltek since 2010 and has previously held roles as Senior Director of Sales (West) and General Manager for Mexico & Central America Operations.

 

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