Investor Presentation

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Cameron Gibbs
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1 Investor Presentation Chicago, January 2001 Agenda Tuesday 16 January 9.00 Welcome Brief company introduction Market outlook Visit to PCP Morten F. Angelil, Chris Seyer Skyline Marketing Group, John Celentano Switch & Data Facilities Corp, Jim Lavin 1

2 Agenda Wednesday 17 January 9.00 Products & Technology Tony Cosentino Customer perspectives wireless market Market Strategy Focus areas 2001 Nextel Communications, Steve Virostek Morten F. Angelil, Chris Seyer Morten F. Angelil Site visit Company introduction 2

3 Eltek Powering the world s telecom infrastructure History Once upon a time, there were two small companies 3

4 History 1968 PCP established 30 employees 1970 First telecom sale to Collins Radio Company 1971 Eltek established - first customer Telenor 1972 PCP began selling to MCI 1978 Eltek entered into the Fire & Safety Business 1981 PCP introduces world s first modular, hot plug-in switchmode product (DC to DC converters) 1982 Eltek introduces one of the first hot plug-in switchmode AC to DC rectifiers 1983 Eltek UK established as the first step in internationalisation History 1984 PCP sells +24V DC/100 Amp rectifiers to A.T & T PCP ships TwinPack switchmode rectifiers to Michigan Bell 1992 Eltek delivers its first SMPS 5000 to China 1995 PCP introduces TwinPack Plus with US patent 1996 PCP selected Vendor of the Year by MFS (Worldcom) 1997 Eltek entered into OEM business by acquiring Unitech % of PCP acquired by CC Industries 1998 Eltek listing on Oslo Stock Exchange 4

5 History 1998 PCP's 50/50 Joint Venture in Beijing, China starts operation 1999 Sale of Fire & Safety business (completed 2000) 1994/00Eltek internationalization continues: China/Hong Kong 94, Germany 95, Poland and India 96, Singapore 97, France 98, Sweden and Australia MNOK Frame Agreement in Australia 2000 Merger Eltek/PCP 2000 Included in OBX-index OSE (20 most traded shares) Company chart ELTEK ASA ELTEK ENERGY AS 100 % ELTEK (UK) LTD. 100 % ELTEK ENERGY FRANCE S.A. 100 % PCP (USA), LLC 100 % PCP INTERNATIONAL DE, Mexico 100 % BEIJING PCP CO. LTD., China 50 % UNITECH AS, Norway 100 % ELTEK ENERGY AB, Sweden 100 % ELTEK ENERGY PTE. LTD., Singapore 95 % GERTEK STROMV., GmbH, Germany 67 % ELTEK ENERGY LTD., Hong Kong 61 % ELTEK SGS PVT. LTD, India 51 % ELTEK PACIFIC LTD, Australia 51 % S.F.E.E. S.A, France 51 % ELTEK POLSKA Sp.z.oo 51 % COMPOWER AS, Norway 34 % MICROPOWER FORV. AB, Sweden 34 % ELTEK ENERGY (M) SDN.BHD, Malaysia 19 % 5

6 Business Power systems for wired and wireless telecom networks Rectifiers and monitoring units Installation and service Standard systems and Custom design Customers are telcos/builders of telecom infrastructure Power system Business 6

7 Mission Our mission is to secure global communication by providing critical power solutions for telecom infrastructure Products Broad range, leading products The G Series Aeon

8 Sales 2000 per Q3 Americas 45 % Europe 39 % Africa 1 % China 6 % Asia/Pacific 9 % Employees A worldwide operation Americas 213 Norway 175 Europe 257 Asia/Pacific 150 8

9 Financial highlights Development EBIT Revenue Operating profit Revenue 9

10 Quarterly Development Continued business EBITDA Revenue q.98 2.q.98 3.q.98 4.q.98 1.q.99 2.q.99 3.q.99 4.q.99 1.q.00 2.q.00 3.q.00 0 Revenue Excl. employer s tax on stock options EBITDA Amounts in Mill NOK Share performance Eltek Share vs OSE Total Index and ITindex 500,00 400,00 300,00 200,00 100,00 0, Eltek ASA Total index IT index as per

11 Shareholders as at Shareholder No. of shares % of shares CC Industries ,8 % Eltek Holding AS/A.F. and W. Angelil ,6 % Edward Weil Jr and Family Trust ,5 % Tine Pensjonskasse ,8 % Chase Manhattan Bank (sev.accounts) ,7 % Storebrand Livsforsikring ,6 % Chris Seyer III ,4 % Christiania Markets ,4 % SND Invest AS ,4 % Gjensidige Nor/Gjensidige Forsikring ,3 % Stephen Griffitts ,2 % Orkla Enskilda Securities ,2 % State Street Bank & Trust Co.(sev.accounts) ,0 % Goldman Sachs International Finan ,0 % Aksjefondet Gambak ,8 % Deutsche Bank AG ,8 % Skandia Fondsforvaltning ,8 % Statoil Kapitalforvaltning ,7 % Torstein Tvenge ,6 % Industrifinans (sev.accounts) ,5 % Shareholders reg. in VPS as at Stock brokers - share of trade Christiania Markets 20 % 52 % DnB Markets 18 % 6 % Orkla Enskilda Securities 14 % 7 % First Securities 9 % 4 % Carnegie 9 % Alfred Berg 7 % Sundal Collier 5 % 2 % Pareto Fonds 4 % Karl Johan Fonds 3 % 4 % Norse Securities 2 % Stocknet Aston Securities 2 % Net Fonds 1 % Handelsbanken Markets 1 % Others 6 % 25 % Included in others 11

12 Eltek share liquidity Number of shares traded % of shares traded this month Annualised turnover Total Total January ,3 % 219,9 % February ,2 % 98,7 % March ,1 % 120,8 % April ,3 % 87,8 % May ,0 % 23,5 % June ,0 % 108,2 % July ,7 % 116,3 % August ,5 % 377,8 % September ,3 % 243,2 % October ,9 % 167,0 % November ,7 % 116,4 % December ,6 % 162,7 % Eltek market cap per quarter Amounts in Mill NOK July q.98 4.q.98 1.q.99 2.q.99 3.q.99 4.q.99 1.q.00 2.q.00 3 q 00 4 q 00 12

13 Market Outlook Skyline Marketing Group John Celentano Switch & Data Facilities Corp. - Jim Lavin 13

Presentation of 4 th quarter 2000. Oslo, 21. February 2001

Presentation of 4 th quarter 2 Oslo, 21. February 21 Eltek Powering the world s telecom infrastructure Key Figures Whole year 4th quarter 2 1999 Growth rate 2 1999 Growth rate Revenue 1 894, 1 117,5 69