Eltek (ELTK) Corporate presentation summary

Company overview and history

• Over 50 years of experience manufacturing complex, high-quality PCBs for high-end markets, with a facility in Petach Tikva, Israel and 347 employees, including 42 engineers.

• Publicly listed since 1997, with significant management restructuring and a turnaround plan implemented in 2018.

• Commenced a $15 million accelerated investment plan in 2022 to increase capacity by 30%.

• Manufactures approximately 1.1 million PCBs annually, focusing on flex-rigid, rigid, and multi-flex/flex boards.

Product portfolio and market applications

• Produces rigid, flex, and flex-rigid PCBs used in aerospace, military, medical, satellite, and industrial sectors.

• PCBs are integral to products such as Iron Dome, F-35, PillCam, ASML systems, and Tandem Insulin Pumps.

• Serves a strong portfolio of global customers, including Boeing, Raytheon, Medtronic, Philips, and ASML.

Industry trends and competitive positioning

• Western PCB manufacturing has declined, with 55% of global production in China; security and IP concerns are driving a shift back to Western suppliers.

• High technical barriers and significant capital investment ($45–60M) make new market entry challenging.

• Focus on high-mix, low-volume production, serving defense, aerospace, and medical markets.