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Elektrobit Group Oyj - ELEKTROBIT GROUP PLC'S INTERIM REPORT JANUARY - JUNE 2006

August 02, 2006

ELEKTROBIT GROUP PLC'S INTERIM REPORT JANUARY - JUNE 2006


Free for publication August 2, 2006 at 8.00 am
 
ELEKTROBIT GROUP PLC'S INTERIM REPORT JANUARY - JUNE 2006
(unaudited)
 
SUMMARY
 
As earlier stated, the company updated its strategy and continued to increase its investments in research and development during the second quarter of 2006. The net sales of the reporting period stood at eur 54.6 million (eur 58.1 million) and hence, in line with earlier estimates, were substantially on the same level as in 2005. The operating profit amounted to eur 6.5 million (eur 7.2 million) therefore substantially equating to that of the corresponding period last year.
 
 
Comparisons between the figures of the second quarter of 2006 and the corresponding period in 2005:
 
Net sales amounted to eur 54.6 million (eur 58.1 million; a decrease of eur 3.4 million or 5.9%). The net sales of the Test and Automation Business Unit were eur 27.9 million (eur 36.3 million; a decrease of eur 8.5 million or 23.3%). The net sales of the Automotive Business Unit were eur 8.8 million (eur 5.8 million; increase of eur 3.0 million or 52.4 %) and the net sales of the Contract R&D Business Unit were eur 17.9 million (eur 15.9 million; increase of eur 2.0 million or 12.7%).
 
Operating profit amounted to eur 6.5 million (eur 7.2 million) and was distributed as follows: Product Business Segment eur 5.2 million (eur 6.6 million), Service Business Segment eur 0.8 million (eur 0.4 million) and other businesses eur 0.6 million (eur 0.2 million).
 
Cash flow from operations amounted to eur -2.9 million (eur 3.5 million).
 
 
Comparisons between the period from January to June 2006 and the figures for the corresponding period a year earlier:
 
Net sales amounted to eur 102.3 million (eur 102.7 million, a decrease of eur 0.4 million or 0.4%). The net sales of the Test and Automation Business Unit were eur 49.6 million (eur 59.4 million, decrease of eur 9.7 million or 16.4%), the net sales of the Automotive Business Unit were eur 17.5 million (eur 10.1 million, increase of eur 7.4 million or 72.7%) and the net sales of the Contract R&D Business Unit were eur 35.1 million (eur 33.1 million, increase of eur 2.0 million or 6.0%).
 
Operating profit amounted to eur 6.8 million (eur 11.7 million, decrease of eur 4.9 million or 41.6%) and was distributed as follows: Service Business Segment eur 1.0 million (eur 1.6 million, decrease of eur 0.6 million or 38.1%), Product Business Segment eur 5.7 million (eur 9.8 million, decrease of eur 4.1 million or 41.9%) and other businesses eur 0.2 million (eur 0.3 million).
 
Cash flow from operations amounted to eur -1.9 million (eur 6.4 million).
 
Equity ratio was 63.0% (57.9%).
 
 
In Oulunsalo, August 2, 2006
 
Elektrobit Group Plc.
The Board of Directors
 
 
Further Information:
 
Pertti Korhonen
CEO
Elektrobit Group Plc.
Tel. +358 40 344 3889
 
Seppo Laine
CFO
Elektrobit Group Plc.
Tel. +358 40 344 2250
 
Maija-Liisa Fors
Director, Investor Relations
Elektrobit Group Plc.
Tel. +358 40 344 2875
 
 
Distribution:
Helsinki Stock Exchanges
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