In total, Elcoteq operates on four continents in 15 countries and employs about some 18,000 people. Its consolidated net sales for 2004 totaled euro 2.953bn. The net sales in the first half-year rose 46% to 1,792.4bn compared to January-June 2004 (1,228.5). The operating income was 25.4m (euro 17.2m). Of the entire workforce about only 1000 are in Finland. The geographical distribution of the staff was as follows: Europe some 9,700, Asia-Pacific 5,200 and Americas 3,100. The main product areas are terminals (81%) and communications network equipment (19%). The business units within Ericsson and Nokia accounted for altogether 68% of Elcoteq’s second-quarter net sales. These figures do not include business activities with Sony Ericsson.
The EMS company’s geographical main business areas are Europe (56%), Asia-Pacific (23%) and Americas (21%). Net sales in the second quarter showed clear growth in all geographical areas, Europe rose 40% to euro 550.9m; Asia-Pacific increased 65% to 226.6m; and the Americas grew 83% totaling euro 204.5m. Just recently, the group set up an office in Budapest/Hungary, being the office for the management of the geographical area Europe. This office close to the Central European market is part of the group’s internalization strategy, one aim to bring operations as close as possible to the markets and to the own fabs. The company expects that for the full year 2005 its net sales will increase and its operating income from continuing operations will improve clearly compared to last year.
www.elcoteq.com
EPP EUROPE 404
