Elektrobit Group Oyj - ELEKTROBIT GROUP PLC'S INTERIM REPORT FOR JANUARY-SEPTEMBER 2006
November 01, 2006
ELEKTROBIT GROUP PLC'S INTERIM REPORT FOR JANUARY-SEPTEMBER 2006
SUMMARY
During the third quarter of 2006 the company continued to increase its investments in product research and development, and in developing its production partnering capability according to the strategy redefined in the spring 2006 and as further substantiated in the subsequent releases. The company's net sales for the third quarter stood at EUR 48.7 million (EUR 54.9 million in the third quarter of 2005). The operating profit amounted to EUR 1.2 million (EUR 9.4 million).
Earlier the company estimated the net sales for the year 2006 to remain substantially on the same level as in 2005. The whole-year operating profit was expected to be less than half of the operating profit level of 2005. Mainly due to reduced mobile phone test equipment sales in the Production Solutions Business Unit that also suffered from considerable price erosion, the company now estimates the net sales for 2006 to remain on the same level as in 2005 or slightly below. Primarily for the same reason, the whole-year operating profit is expected to be less than one third of the operating profit level of 2005.
Comparisons between the figures for the third quarter of 2006 and the corresponding period in 2005:
Net sales amounted to EUR 48.7 million (EUR 54.9 million; a decrease of EUR 6.2 million or 11.2%). The net sales of the Test and Automation Business Segment were EUR 25.2 million (EUR 35.2 million; a decrease of EUR 10.0 million or 28.4%). The net sales of the Automotive Software Business Segment were EUR 10.1 million (EUR 6.2 million; an increase of EUR 3.9 million or 62.4%) and the net sales of the Wireless Communication Solutions Business Segment were EUR 13.4 million (EUR 13.4 million).
Operating profit totaled EUR 1.2 million (EUR 9.4 million) and was distributed as follows: the Test and Automation Business Segment EUR 4.4 million (EUR 10.1 million) and the Automotive Business Segment 0.5 million (EUR 0.5 million). The Wireless Communication Solutions Business Segment experienced an operating loss of EUR -3.6 million (EUR -1.2 million) and other businesses a loss of EUR -0.0 million (EUR -0.0 million). The operating profit included non-recurring expenses of EUR 0.7 million due to rearrangements of the company's operations.
Cash flow from operations amounted to EUR 1.7 million (EUR 6.2 million).
Comparisons between the period from January to September 2006 and the figures for the corresponding period a year earlier:
Net sales amounted to EUR 151.0 million (EUR 157.6 million, a decrease of EUR 6.6 million or 4.2%). The net sales of the Test and Automation Business Segment were EUR 74.8 million (EUR 94.6 million, a decrease of EUR 19.7 million or 20.9%), the net sales of the Automotive Software Business Segment were EUR 27.5 million (EUR 16.3 million, an increase of EUR 11.2 million or 68.8%) and the net sales of Wireless Communication Solutions Business Segment were EUR 48.5 million (EUR 46.5 million, an increase of EUR 2.0 million or 4.3%).
Operating profit amounted to EUR 8.0 million (EUR 21.1 million, a decrease of EUR 13.1 million or 62.1%) and was distributed as follows: the Test and Automation Business Segment EUR 10.0 million (EUR 19.9 million, a decrease of EUR 9.9 million or 49.6%), the Automotive Software Business Segment EUR 1.2 million (EUR 1.2 million), the Wireless Communication Solutions Business Segment experienced an operating loss of EUR -3.4 million (EUR -0.3 million, a decrease of EUR 3.1 million), and other businesses a loss of EUR 0.1 million (EUR 0.3 million).
Cash flow from operations amounted to EUR -0.2 million (EUR 12.6 million).
Equity ratio was 64.3% (59.3%).
In Oulunsalo, November 1st, 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:
The Helsinki Stock Exchange
Main media offices
