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Electronics Production | April 23, 2008

Low sales for Elcoteq in Europe

evertiq.com reported earlier today that EMS provider Elcoteq’s has posted its sales report for the first-quarter in 2008. According to latest reports the company net sales in Europe was lowest in Q1 2008.
Elcoteq's first-quarter net sales were derived from these areas as follows: Europe 465.4 million euros (507.6), Asia-Pacific 214.4 million euros (231.2) and Americas 228.9 million euros (213.6).

Elcoteq net sales between January and March totaled 908.7 million euros (952.5 in January-March 2007). Operating income was -9.5 million euros (-52.4 and excluding restructuring expenses -22.3 in January-March 2007).

At the end of March 2008, Elcoteq employed 23,996 people (23,452): 243 (666) in Finland and 23,753 (22,786) elsewhere. The geographical distribution of the workforce was as follows: Europe 10,838 (10,822), Asia-Pacific 7,127 (7,459) and Americas 6,031 (5,171). The average number of Elcoteq employees on the company's direct payroll between January and March was 17,894 (19,065).
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