NeraTel achieved revenue in 2011 of SGD 156.2 million, compared to SGD 155.8
million in 2010. EBIT was SGD 15.8 million compared to SGD 13.8 million in
2010. Net profit was SGD 13.5 million compared to SGD 10.9 million in 2010.
Please note that due to different accounting principles Eltek will report
different figures for NeraTel in its Group results, the main difference being
amortization of intangible assets identified as part of the Purchase Price
Allocation (PPA), and different treatment of currency effects.
For further information, please contact:
CFO Eltek ASA, Pål Skistad, tel: +47 908 50 378
About Eltek ASA:
Eltek is a strategic technology partner within power solutions through Eltek
(power), and a regional supplier of transmission systems, satellite
communications and infocomm systems through Nera Telecommunications. The
Company reported revenue of NOK 4 billion in 2010, and has close to 2,700
employees in close to 40 countries. Following the divestment of Nera Networks,
Eltek focuses on its core business in telecom power and power electronics
solutions for industrial applications and renewable markets such as solar power
and electric vehicles. Eltek is listed on Oslo Stock Exchange and headquartered
in Drammen, Norway.
Nera Telecommunications offers radio transmission, satellite communications and
infocomm equipment and services to the Asian markets. Headquartered in
Singapore, NeraTel is 50.1 percent owned by Eltek ASA and separately listed on
the Singapore Stock Exchange. The company counts more than 500 employees and
reported revenue of NOK 834 million in 2010.
This information is subject of the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.