Eltek Ltd. · NASDAQ:ELTK
Eltek — Q3 2025 Earnings Presentation
24 slides from Eltek's earnings presentation, December 2025
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Slide 2: Disclaimer
Disclaimer General Basis of Presentation The information contained in this presentation does not purport to be all inclusive or to contain all information that prospective investors may GAAP require. Prospective investors are encouraged to conduct their own Unless otherwise stated, all historical an
Slide 3: What is PCB?
What is PCB? General PCB Types ✓ Every electronic system contains an electronic printed circuit board ✓ PCBs are constructed from a variety of base raw materials and metals. (PCB), upon which are integrated several electronic components. The A standard PCB can be double-sided or multi-layered and ma
Slide 4: Eltek History & Overview
Eltek History & Overview Petach Tikva, NADCAP, AS9100D, Founded in 1970, Eltek is a global PCB manufacturer. Israel ISO9001:2015, UL 94V-0 We have over 50 years of experience in the manufacture and supply Location Key Qualifications of complex and high-quality PCBs, HDI, multilayered and flex-rigid
Slide 5: Where Eltek PCBs are Used
Where Eltek PCBs are Used Rafael Iron Dome Opgal Imaging Systems Lockheed Martin F-35 Medtronic's PillCam Elta Radar Systems IAI Arrow ASN Satellites Corp Flir Thermal Systems 5 * Footer
Slide 6: Where Eltek PCBs are Used (Cont.)
Where Eltek PCBs are Used (Cont.) J&J SMARTABLATE Controp Vision Systems Smart Shooter ASML systems Netline Systems HiSky satellite communicationn Tandem Insulin Pumps Nyxoah Genio 6 * Footer
Slide 7: Where We Shine
Where We Shine Strong Portfolio of Customers Eltek is a leading global manufacturer of quality and highly-reliable printed circuit boards (PCBs)—creating rigid, flex-rigid, and flex PCBs for use in a variety of industries, including Aerospace, Military, Medical, Satellite, and many others. We are an
Slide 8: PCB Manufacturing Trends
PCB Manufacturing Trends For several decades PCB manufacturers in the West PCB Manufacturing by Region* have disappeared—leaving global manufacturing highly concentrated in China and Taiwan. Europe & US 9% China’s PCB dominance and global security issues have caused western government and companies
Slide 9: High Barriers for New Entrants in PCB Production
High Barriers for New Entrants in PCB Production Technical “Know-How” There are no university degrees for PCB production, engineers become experts in PCBs on the job and advance over time The Western world is looking to shift back to purchasing Western Machine Infrastructure Cost produced PCB’s, but
Slide 10: Growing to Satisfy Market Appetite
Growing to Satisfy Market Appetite R&D programs in Unlocking 30% in Horizontal merger $15 million accelerated partnership with Israeli additional production to fuel growth, both investment program will innovation authorities. capacity via a 3rd shift in domestically and gradually increase capacity D
Slide 11: What Makes Eltek Unique
What Makes Eltek Unique 50 years of operational history developing PCBs ITAR and EAR Pioneers in Constant High-Mix, Certifications Flex PCBs R&D Low-Volume Certifications allow Eltek to Eltek is a brand-name in Bringing advanced tech Our proprietary production sell to defense contractors the Flex PC
Slide 12: Massive Global Opportunity Size
Massive Global Opportunity Size Total Available Market* Global PCBs, 2028 $75B $7.5B Serviceable Addressable Market* $1B-$2B – Global Flex-Rigid PCBs, 2025 Estimated High mix, Low volume for Defense, Aerospace and Medical markets Current Revenue Capacity – Single Facility at 70%-90% Capacity + accel
Slide 13: Generating Profits in a Capital Intensive Industry
Generating Profits in a Capital Intensive Industry Complex Flex PCB Rigid PCB manufacturing supports the capital-intensive Manufacturing with fixed costs of our facility, machinery, and staffing— 50%+ Positive Contribution ensuring that Eltek reaches its break even point. Breakeven Point Eltek’s Fle
Slide 14: Setting the Stage for Rampant Growth
Setting the Stage for Rampant Growth PROFIT (K$) In 2018, newly hired Eltek management led a 2024-2026 turnaround plan and implementation of “Achieving 2018-2023 Competitive Excellence”. 2016-2018 SALES (K$) Our turnaround targeted higher operational (BEP) efficiency by reducing fixed costs and impr
Slide 15: Eltek Growth Pillars
Eltek Growth Pillars Business Excellence Operational Efficiency Market Share Expansion Right pricing Adopt Achieve Competitive Excellence Focus on the US and India markets program (ACE-similar to 6-sigma) Product rationalization Look for M&A transaction (US or Europe) Use big data technology for PCB
Slide 16: Experienced Leadership Team
Experienced Leadership Team Eli Yaffe Tomer Segev CEO VP Sales and Marketing Eli Yaffe joined Eltek as CEO in July 2018. Prior to joining Eltek, Eli served Tomer Segev joined Eltek as VP Sales & Marketing in June 2024. Tomer as the CEO of Carmel Forge Ltd. (Aerospace), and prior thereto he served ha
Slide 17: Experienced Leadership Team (Cont.)
Experienced Leadership Team (Cont.) Yaniv Luria Avinoam Moses Chief Information Officer Vice President of Quality Joined Eltek in July 2024 as Chief Information Officer. From 2000 to Joined Eltek in January 2025 as Vice President of Quality. Mr. Moses 2021, Mr. Luria served as Director of IT at Nova
Slide 18: 2024 Revenues
2024 Revenues By Geography By Sector Others Defense & Aerospace India 5% 64.5% 10% Netherlands 11% North America 9% Israel 65% CEM, Distributors & Others 16.5% Industrial Medical Equipment 12.6% 6.4% 19 18
Slide 19: Customers and SKUs (2024)
Customers and SKUs (2024) Customer Distribution by Sales High Mix, Low Volume 80 13000 70 11000 60 9000 No. of Customers Annual sales - $ 50 40 7000 30 5000 20 3000 10 1000 0 0-50 50-150 150-400 400-800 800-5,000 5,000> Annual Production – PCBs per SKU Annual Sales per Customer - $ 20 19
Slide 20: Financial Snapshot
Financial Snapshot Revenues Gross Profit Income before income taxes 9M Thousands 47 47 14M 28.1% 16.5% 8M Thousands Thousands 45M 12M 7M 22.2% 40 40M 10M 6M 37 20.8% 10.9% 21.1% 5M 34 8M 20.4% 35M 9.7% 4M 6M 30M 3M 7.3% 4M 2M 4.4% 25M 2M 1M 20M 0M 0M 2020 2021 2022 2023 2024 2020 2021 2022 2023 2024
Slide 21: Financial Snapshot (Cont.)
Financial Snapshot (Cont.) Net Cash & Bank Deposits Net Worth / Total Assets Working Capital 25.8 25M 70% 69.1% Thousands 17.24 23M 65% 21M 16M 60% 19M 12.14 57.0% 17M 16.1 11M 55% 15M 50.1% 13.3 49.3% 12.9 50% 13M 6M 4.65 3.90 11M 45% 9M 1M 40% 7M 12.2021 12.2022 12.2023 12.2024 12.2021 12.2022 12.
Slide 22: Company Capitalization
Company Capitalization As of September 30, 2025, Eltek has 6,715,624 issued and outstanding shares: Nistec 3,368,502 50.1% Yitzhak Nissan (Chairman) 165,223 2.5% Total Nistec and Yitzhak Nissan 3,533,725 52.6% Public Float 3,181,899 47.4% Total 6,715,624 100.0% As of June 30, 2025: 369,584 Outstandi
Slide 23: Business Factors Implications
Business Factors Implications Medical sector Local and US Exchange rate Qualified labor availability European Defense Defense budgets Market Demand Vs. western Raw materials prices Footprint in India Aerospace sector Footprint in the USA world capacity and availability Installed capacity Energy Pric
Slide 24: Contact Us
Contact Us www.nisteceltek.com Executive offices & manufacturing facility Eltek Ltd. 20 Ben Zion Gelis Street Petach Tikvah, 4927920, Israel Tel: +972 3 939 5050 Fax: +972 3 9342584 Email: [email protected] Customer Service Sales – Engineering Eltek USA Inc. Phone: (480) 716-8645 Emai