SMT & Inspection | February 15, 2006
Elektrobit reports falling profit
Finnish electronics equipment maker Elektrobit's profit before taxes fell in 2005 to 26.6 million euros, compared to 33.9 million euros in 2004.
Sales rose to 212.5 million euros in 2005, compared to the 2004 figure of 202.6 million euros. Elektrobit expects that its increase in sales would continue in 2006. But pressure to take cost-reducing measures is rising with growing competition. Elektrobit also announced the appointment of Pertti Korhonen as the CEO of Elektrobit Group. Mr Korhonen, currently chief technology officer at Nokia, is to take up his position at Elektrobit in June.