Last 7.35 NOK
Change Today -0.05 / -0.68%
Volume 5.0K
As of 10:25 AM 04/23/14 All times are local (Market data is delayed by at least 15 minutes).

eltek asa (ELT) Snapshot

Open
7.38 NOK
Previous Close
7.40 NOK
Day High
7.40 NOK
Day Low
7.30 NOK
52 Week High
01/21/14 - 8.31 NOK
52 Week Low
05/8/13 - 4.80 NOK
Market Cap
2.4B
Average Volume 10 Days
33.4K
EPS TTM
0.39 NOK
Shares Outstanding
329.2M
EX-Date
05/7/14
P/E TM
18.7x
Dividend
0.50 NOK
Dividend Yield
6.80%
Current Stock Chart for ELTEK ASA (ELT)

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eltek asa (ELT) 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.

2,428 Employees
Last Reported Date: 04/10/14
Founded in 1971

eltek asa (ELT) 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 (ELT) Key Developments

Eltek ASA Announces Audited Group and Company Earnings Results for the Year Ended December 31, 2013

Eltek ASA announced audited group and company earnings results for the year ended December 31, 2013. For the year, the group reported sales of NOK 3,671.2 million compared to NOK 3,411.9 million a year ago. Operating profit was NOK 300.5 million compared to NOK 278.9 million a year ago. Changes in currencies had an overall modest effect on revenue for the full year 2013. Profit before income tax was NOK 220.9 million compared to NOK 195.1 million a year ago. Profit for the year from continuing operations were NOK 133.9 million or NOK 0.41 per diluted share compared to NOK 186.6 million or NOK 0.52 per diluted share a year ago. Net profit for the year attributable to equity holders of the company was NOK 55.0 million or NOK 0.17 per diluted share compared to NOK 370.9 million or NOK 1.14 per diluted share a year ago. Net cash flow from operating activities was NOK 309.1 million compared to NOK 414.9 million a year ago. Investments in intangibles and property, plant & equipment were NOK 122.2 million compared to NOK 127.4 million a year ago. Underlying operating profits in the continuing operations improved in 2013, reflecting stable gross margins and flat operating costs. EBITDA was NOK 403.1 million compared to NOK 400.1 million a year ago. Return on equity was 4.7% compared to 33.4% a year ago. Free cash flow after investments amounted to NOK 224 million for the continuing business in 2013 compared to NOK 231 million a year ago. For the year, the company reported operating loss of NOK 326.6 million compared to NOK 34.6 million a year ago. Profit before income tax was NOK 94.1 million compared to NOK 199.8 million a year ago. Profit for the year was NOK 60.2 million compared to NOK 133.4 million a year ago. Net cash inflow from operating activities was NOK 158.4 million compared to net cash outflow from operating activities of NOK 33.6 million a year ago.

Ceragon Networks Ltd. Signs Settlement Agreement with Eltek ASA

On April 1, 2014, Ceragon Networks Ltd. signed an agreement with Eltek ASA, to settle all claims, counter claims, legal proceedings, and any other contingent or potential claims regarding alleged breaches of representations and warranties contained in the purchase agreement governing Ceragon's acquisition of Nera Networks from Eltek in January 2011. Pursuant to the settlement agreement, Ceragon expects to receive $17 million in cash during the second quarter of 2014.

Eltek ASA Proposes Dividend for 2013

Eltek ASA proposed dividend of NOK 165 million, or NOK 0.50 per share for 2013 to be resolved at the annual general meeting of the company scheduled for 6 May 2014. NOK 104 million of the proposed dividends will be allocated from retained earnings.

 

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Industry Analysis

ELT

Industry Average

Valuation ELT Industry Range
Price/Earnings 18.4x
Price/Sales 0.7x
Price/Book 2.3x
Price/Cash Flow 44.9x
TEV/Sales 0.3x
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