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Electronics Production | November 02, 2011

Elektrobit show Q3 net sales growth

Elektrobit announced Q3 net sales growth of 9.7 percent YoY but net sales in January-September decreased YoY and the company's operating result was negative.
Summary

- Net sales for the period was EUR 37.0 million (EUR 33.7 million, 3Q 2010), representing an increase of 9.7 % YoY. Net sales of the Automotive Business Segment grew to EUR 23.9 million (EUR 19.9 million, 3Q 2010), representing a 20.0% growth year-on-year. The Wireless Business Segment's net sales fell slightly, 4.8 %, to EUR 13.0 million (EUR 13.7 million, 3Q 2010).
- Operating loss was EUR -3.1 million (EUR -11.5 million, including EUR 8.3 million impairment of accounts receivable from TerreStar, 3Q 2010). Operating loss of the Automotive Business Segment was EUR -1.4 million (operating profit of EUR 0.1 million, 3Q 2010). The Wireless Business Segment's operating loss was EUR -1.7 million (EUR -11.7 million, including EUR 8.3 million impairment of accounts receivable from TerreStar, 3Q 2010).
- EBITDA was EUR -1.2 million (EUR -9.3 million, 3Q 2010).
- Cash flow from operating activities was EUR -6.6 million (EUR 0.2 million, 3Q 2010). The net cash flow was EUR -10.6 million (EUR -30.1 million, including the distribution of EUR 25.9 million from the share premium fund, 3Q 2010).

January- September 2011 Summary

- Net sales of the period amounted to EUR 113.1 million (EUR 119.9 million, 1-9 2010), representing a decrease of 5.7 % year-on-year. Net sales of the Automotive Business Segment grew to EUR 70.2 million (EUR 57.0 million, 1-9 2010), representing a 23.1 % growth year-on-year. The Wireless Business Segment's net sales fell by 31.2 % to EUR 42.9 million (EUR 62.4 million, 1-9 2010).
- Operating loss was EUR -7.5 million (EUR -9.7 million, including EUR 8.3 million impairment of accounts receivable from TerreStar, 1-9 2010). The operating loss of Automotive Business Segment was EUR -1.3 million (operating profit of EUR 0.8 million, 1-9 2010) and the operating loss of Wireless Business Segment was EUR -6.1 million (EUR -10.4 million, including EUR 8.3 million impairment of accounts receivable from TerreStar, 1-9 2010).

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