Kitron targets NOK 10 billion in revenues

(2022-12-13) Kitron today hosts a Capital Markets Presentation to update on the progress towards the company’s targets and outline ambitions for a new strategy period.

Kitron expands the horizon from 2025 to 2027 and sets a revenue ambition of more than NOK 10 billion in 2027, based on organic growth. The 2027 ambitions also include an operating margin (EBIT) above 8 per cent and a return on operating capital (ROOC) above 25 per cent.

Current demand continues to be strong, and Kitron expects revenue between NOK 6 700 and 7 300 million in 2023. Operating profit (EBIT) is expected to be between NOK 450 and 550 million.

“Over the past years, we have demonstrated Kitron’s growth potential through consistent organic growth supplemented by targeted acquisitions, while also improving margins. We maintain a healthy balance sheet and have paid a dividend every year since 2014, contributing to a total shareholder of more than 1500 per cent,” said Peter Nilsson, CEO of Kitron.

For the 2027 revenue ambition, Kitron maintains its long-term organic growth target of 10 per cent per year. Acquisitions add upside to the organic growth rate. The company’s ambitions also imply further progress on margins and return on capital.

“I see no reason why the positive trends for Kitron should not continue in the years to come. Our market is growing, and our customer base contains a healthy mix of recession-resistant market sectors, such as Defence/Aerospace and Medical devices, and companies benefiting from megatrends within the Electrification and Connectivity sectors. We serve these customers through highly efficient facilities, and we have demonstrated successful capacity expansion through acquisitions and greenfield projects,” Mr Nilsson concludes.

The Capital Markets Presentation will start at 09:00 CET, last for approximately two hours and be webcast at the following link:

Enclosed in PDF is the presentation material for the event.

For further information, please contact:

Peter Nilsson, President and CEO, tel.

Cathrin Nylander, CFO, tel:

E-mail:

Kitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical devices and Defence/Aerospace sectors. The group is located in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, China and the United States. Included the acquisition of BB Electronics in January 2022, Kitron has about 2 800 employees, and pro forma revenues were about NOK 5 billion in 2021.

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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