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© anatoly abyshev dreamstime.com Embedded | November 07, 2012

Elektrobit net sales increased by 27.0%

EB’s net sales increased compared to 3Q 2011. Net sales continued to grow in both business segments.

Net sales increased by 27.0% year-on-year to MEUR 47.0 (MEUR 37.0, 3Q 2011) The financial figures of 3Q 2012 include approx. MEUR 1.2 nonrecurring income and approx. MEUR 10.8 positive effect on cash flow due to settlement payment received in the TerreStar Corporation’s reorganization process. Automotive in 3Q 2012 ‒ 3Q 2012 net sales was MEUR 30.2 (MEUR 23.9, 3Q 11), increase of 26.5 % ‒ 1-9 2012 net sales was MEUR 85.9 (MEUR 70.2, 1-9 11), increase of 22.3 % Wireless in 3Q 2012 ‒ 3Q 2012 net sales was MEUR 16.8 (MEUR 13.0, 3Q 2011), increase of 29.2% ‒ 1-9 2012 net sales was MEUR 57.9 (MEUR 42.9, 1-9 2011), increase of 35,0% On August 28, 2012 U.S. time, EB received, based on a settlement, a cash payment of USD 13.5 million (EUR 10.8 million) in full and final satisfaction of its claim against TerreStar Corporation and in resolution of all disputes between EB and the other parties in the TerreStar Corporation Chapter 11 reorganization cases under United States Bankruptcy Code. Outlook for 2012 Compared to the previous year, EB estimates that the demand for its products and services is expected to grow year-on-year during 2012 in both Automotive and Wireless Business Segments. Due to the seasonal nature of the EB’s business and due to the holiday period during the third quarter, the net sales and operating result without non-recurring items in the fourth quarter are expected to be higher than in the third quarter of 2012 (net sales of MEUR 47.0, operating result without non-recurring items MEUR 0.8, 3Q, 2012).
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