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Electronics Production | February 10, 2006

Great results for Salcomp

Salcomp, the Finnish manufacturer of chargers for mobile phones, continued to increase its market share, with an improvement of over 10% in the company's net sales in 2005. The company's profitability also improved notably, and the operating profit improved by 58%.
The Salcomp group registered net sales of EUR 156.0 million in 2005, compared to EUR 141.2 million in 2004. The growth was mainly due to growing sales volumes. Salcomp delivered 152 million chargers in 2005, compared to a total of 116 million units in 2004. The company's main customers are the leading six manufacturers of mobile phones. The largest customer accounted for 44% of the sales.

The group registered a EUR 12.5 million operating profit in 2005, with a growth of 58% compared to EUR 7.9 million registered in 2004. The measures taken over recent years to improve production efficiency were fully visible in the 2005 result, as was also the company's tight cost regime. The operating profit includes EUR 1.0 million in one-off expenses. Salcomp's net profit also experienced clear improvement, with an increase up to EUR 5.8 million from EUR 0.2 million in 2004. The net profit was burdened by the above mentioned one-off expenses, and also by a calculative tax expense of EUR 3.0 million.

Salcomp believes that business will continue to develop along these positive lines during the present year. The amount of sold units is estimated to continue growing faster than the market, and prices are believed to rise above last year's level.

All figures mentioned in this release have been audited, and have been reported in accordance with International Financial Reporting Standards (IFRS).

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