Elcoteq’s business
What does Elcoteq do?
What is Elcoteq's vision and strategy?
When was Elcoteq founded?
Where is Elcoteq listed?
What does EMS mean?
What does IEMS mean?
Who are Elcoteq’s main customers?
Who are Elcoteq’s main competitors?
Elcoteq’s global service network
In which countries does Elcoteq operate?
Where are Elcoteq’s corporate and regional headquarters?
Corporate governance and shares
Who is Elcoteq’s CEO?
Who are Elcoteq’s major shareholders?
What kind of a share structure does Elcoteq have?
What does it mean that Elcoteq is a European Company?
What is Elcoteq's domicile?
Financial information
What are Elcoteq's financial targets?
When does Elcoteq publish its interim reports?
Additional information
How can I get more information about Elcoteq?
How can I order Elcoteq’s annual report and other publications?
Questions with answers
Elcoteq’s business
Elcoteq is an electronics manufacturing services (EMS) company that focuses on communications technology customers and products. Ranging from product development to after-sales, the service offering covers the whole lifecycle of Elcoteq’s customers’ products. These products include terminal products, such as mobile phones and set-top boxes as well as communications network equipment such as base-stations, tower-top amplifiers, and microwave systems.
Elcoteq's vision is to be the world's leading electronics manufacturing services provider to communications technology companies. Elcoteq believes that serving this segment will give the company clear competitive edge. The implementation of the strategy calls for expanding the service offering, focused growth and operational excellence.
In 1984 Lohja Microelectronics was founded to support Lohja Corporation's electroluminescent display development project. In 1990 the unit was incorporated as Elcoteq and in 1991 Elcoteq became an independent company through a Management Buy-Out.
Elcoteq SE's series A shares have been quoted on the Helsinki Stock Exchange since 1997.
EMS = Electronics Manufacturing Services. An EMS company provides services to companies with their own brand so that the customers can concentrate on their core competences and outsource other kinds of activities.
IEMS = Integrated Electronics Manufacturing Services. Elcoteq targets to further expand its current service offering with integrated electronics manufacturing services (IEMS) by adding to its electronics manufacturing and product development services especially expertise in mechanics-related technologies.
In 2007, Elcoteq’s largest customers (in alphabetical order) were Ericsson, Nokia Mobile Phones, Nokia Siemens Networks, Philips, RIM, Sony Ericsson and Thomson.
Elcoteq’s vision is to be the leading EMS provider to communications technology customers. The main competitors are Flextronics, Foxconn, Celestica, Sanmina-SCI and Jabil.
Elcoteq’s global service network
Elcoteq operates in 15 countries on four continents: Brazil, China, Estonia, Finland, Hungary, India, Japan, Korea, Luxembourg, Mexico, Romania, Russia, Sweden, Switzerland, and in the United States.
Elcoteq’s corporate office is located in Espoo, Finland. Its Global headquarter is located in the city of Luxembourg and the European headquarter is in Budapest, Hungary; American headquarter in Dallas, USA; and headquarter for Asia-Pacific in Hong Kong, China.
Corporate governance and shares
Elcoteq’s President and Chief Executing Officer is Mr. Jouni Hartikainen.
Elcoteq has three principal individual shareholders are: Mr. Antti Piippo, Mr. Henry Sjöman and Mr. Jorma Vanhanen. They owned the whole company before the initial public offering. Up-to-date information of Elcoteq’s shareholders can be found here.
Elcoteq has two classes of shares, Series A shares and K founders’ shares. Each Elcoteq share carries one vote at shareholders' meetings. K founders’ shares entitle to one-tenth of the dividend rights of the A shares.
Elcoteq’s A shares are listed on the Helsinki Stock Exchange. All K founders’ shares are held by Antti Piippo, Henry Sjöman and Jorma Vanhanen. They owned the whole company before the initial public offering and their holdings of the K founders’ shares have not changed since.
Before the domicile change on January 1, 2008, the company had two classes of shares, Series A and Series K. In conjunction with the transfer of the domicile, the K shares were converted into K founders’ shares and their number increased ten-fold while at the same time reducing their par value to one-tenth of the par value of the A shares. Thus the economic rights and voting powers between the share series remained unchanged after the transfer.
European Company (SE, Societas Europaea) is the new company form that Elcoteq adopted in October 2005. From the legal point-of-view European company is a public limited company and can be compared to public limited companies in Finland. In addition, the European company can be considered as a "European level public limited company" compared to national public limited companies, which are based on national laws.
More information of the SE company form can be found here.
Elcoteq SE’s domicile is the city of Luxembourg in the Grand Duchy of Luxembourg. The company was redomiciled on January 1, 2008, in accordance with the decision of the Annual General Meeting on March 22, 2007. The company’s previous domicile was Lohja, Finland.
Financial information
Ecoteq has set itself challenging long-term financial goals relating to its profit growth, profitability and balance sheet structure.
- Increasing earnings per share (EPS)
- Return on investment (ROI/ROCE), trailing 12 months > 20%
- Positive cash flow
- Gearing < 1
Elcoteq's calendar for both financial publications and interim reports can be found here. On-demand versions of the webcasts related to the publication of quarterly results can be found here.
Additional information
You can get more information about Elcoteq from the company’s publications or by contacting the Group Communications.
You can download Elcoteq’s publications in pdf format from our website, or order hard copies by filling in this form, by sending an e-mail to info@elcoteq.com.