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Electronics Production | July 29, 2010

Elcoteq Tallinn with big loss in 2009

The annual results for Elcoteq Tallinn AS in 2009 was a loss of 35 million kroons, which corresponds to 2.2 million Euro.

In 2008 the company showed a profit of 41.3 million kroons, which corresponds to 2.6 million Euro. Net sales decreased by 65% over the year. This was mainly due to structural changes and fewer orders from Ericsson, which is the biggest customer at the plant. This year, Elcoteq Tallinn predicts a growth in production volume and staff increases. The company currently has ongoing negotiations with several potential new customers.
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