reports
Kitron: Completed share buyback in connection with remuneration to the...
Kitron: Completed share buyback in connection with remuneration to the board members 2024-05-13) Kitron ASA has completed share buyback in connection with remuneration to the board members. Reference is made to the stock exchange release by Kitron ASA ("Kitron" or the "Company") published on 13. May 2024 regarding initiation of a share buyback program. The Company has completed its share buyback program. Norne Securities AS has been engaged to carry out the buybacks on behalf of the Company pursuant to the EU Market Abuse Regulation article 5. The Company has acquired a total of 27,275 o...
Kitron ASA - Initiation of share buyback program
Kitron ASA - Initiation of share buyback program (2024-05-13) Kitron ASA initiates a share buyback in connection with remuneration to the board members. Kitron ASA ("Kitron" or the "Company") has decided to initiate a share buyback program of up to 30,000 of its own shares for a total maximum amount of NOK 900,000. The buyback program may be carried out in the period from this announcement and until 16 May 2024. The share buyback program will be carried out in accordance with the EC Commission Delegated Regulation (EU) No. 2016/1052 of 8 March 2016 regarding exemptions from market manipul...
Kitron: Minutes from Annual General Meeting 2024
Kitron: Minutes from Annual General Meeting 2024 (2024-04-25) Kitron ASA held its Annual General Meeting on 25 April 2024. 113,103,255 shares, amounting to 57.06 per cent of the share capital, were represented at the meeting. All proposals were resolved as presented in the notice issued on 4 April 2024. After the general meeting, the board of Kitron comprises the following shareholder- and employee-elected members: Shareholder-elected members: Tuomo Lähdesmäki (Chairperson, re-elected) Maalfrid Brath (re-elected) Michael Lundgaard Thomsen (re-elected) Petra Grandinson (re-elected) Gyrid...
Kitron: Avholdt ordinær generalforsamling 2024
Kitron: Avholdt ordinær generalforsamling 2024 (2024-04-25) Kitron ASA avholdt ordinær generalforsamling 25. april 2024. 113 103 255 aksjer, som utgjør 57,06 prosent av aksjekapitalen, var representert på generalforsamlingen. Alle forslag ble vedtatt slik de er gjengitt i innkallingen utsendt 4. april 2024. Kitrons styre har nå følgende aksjonær- og ansattvalgt sammensetting: Valgt av aksjonærene:Tuomo Lähdesmäki (Leder, gjenvalgt) Maalfrid Brath (gjenvalgt) Michael Lundgaard Thomsen (gjenvalgt) Petra Grandinson (gjenvalgt) Gyrid Skalleberg Ingerø (valgt) Valgt av de ansatte: Tone Aas H...
Kitron: Q1 2024 - Sterk underliggende lønnsomhet i utfordrende marked
Kitron: Q1 2024 - Sterk underliggende lønnsomhet i utfordrende marked (2024-04-25) Kitron rapporterer i dag sterk underliggende lønnsomhet i et utfordrende marked. Det gjennomføres kostnadstiltak for å opprettholde driftsmarginer i tråd med selskapets strategiske mål. Kitrons driftsinntekter for første kvartal var 173,9 millioner euro, sammenlignet med 190,6 millioner i fjor. Det var sterk vekst innenfor markedssektoren Forsvar/Luftfart, mens andre markedssektorer viste nedgang. Driftsresultatet (EBIT) i første kvartal var 10,6 millioner euro, sammenlignet med 17,3 millioner i fjor. EBI...
- Emilie Krutnes Engen
Kitron (Buy, TP: NOK40.00) - Limited downside risk to consensus
We have lowered our 2024e revenues by 2%, as we understand it is taking Kitron longer to free up capacity for its Defence & Aerospace (D&A) customers. However, we see limited downside risk to consensus – which is below the mid-point of the 2024 revenue guidance – and expect the stock to re-rate as the market factors in that we have reached a trough. Thus, we reiterate our BUY, but have cut our target price to NOK40 (42) on slightly lower estimates.
Kitron: Notice of Annual General Meeting on 25 April 2024 at 10:00 a.m...
Kitron: Notice of Annual General Meeting on 25 April 2024 at 10:00 a.m. CEST (2024-04-04) The Annual General Meeting of Kitron will be held on Friday 25 April 2024 at 10:00 a.m. CEST. The General Meeting will only be held as a digital meeting. All shareholders are invited to participate online. It will not be possible to attend in person. Shareholders may also vote in advance or submit a proxy with voting instructions. Further information on the matters on the agenda and the board of directors' proposed resolutions are set out in the attached notice. For further information, please contact...
Kitron: Innkalling til ordinær generalforsamling 25. april 2024 kl. 10...
Kitron: Innkalling til ordinær generalforsamling 25. april 2024 kl. 10.00 (2024-04-04) Ordinær generalforsamling i Kitron vil bli avholdt fredag 25. april 2024, kl. 10.00. Generalforsamlingen vil kun holdes som et digitalt møte. Alle aksjonærer er invitert til å delta på nett. Det vil ikke være mulig å delta ved personlig fremmøte. Aksjonærer kan også forhåndsstemme eller sende inn fullmakt med stemmeinstruks. Nærmere informasjon om saker på agendaen og styrets forslag til vedtak for de enkelte saker fremgår av vedlagte innkalling. For ytterligere informasjon, vennligst kontakt: Cathrin Ny...
Kitron Annual Report 2023
Kitron Annual Report 2023 (2024-03-22) Enclosed is a pdf version of the 2023 Annual Report for Kitron ASA. The Annual Report is also available on our website, The company publishes its annual financial statements also in European SingleElectronic Format (ESEF), available as an attachment to this release. This information is subject to the disclosure requirements in the NorwegianSecurities Trading Act § 5-12. For further information, please contact: Cathrin Nylander, CFO, tel. E-mail: Kitron is a leading Scandinavian electronics manufacturing services company for the Connectiv...
- Emilie Krutnes Engen
Kitron (Buy, TP: NOK42.00) - Continues to beat expectations
We have raised our 2024e revenues by ~1%, mostly due to higher Defence & Aerospace (D&A) estimates, and EPS by ~2%. While we remain below consensus on 2024e EBIT, we believe this is already priced in, and expect the stock to re-rate as channel inventory normalises and order intake picks up in the coming quarters. Thus, we reiterate our BUY and have raised our target price to NOK42 (39).
Kitron: Key information relating to the cash dividend to be paid by Ki...
Kitron: Key information relating to the cash dividend to be paid by Kitron ASA * Dividend amount: NOK 0.75 per share * Declared currency: NOK * Last day including right: 25 April 2024 * Ex-date: 26 April 2024 * Record date: 29 April 2024 * Payment date: On or about 16 May 2024 * Date of approval: 25 April 2024 This information is published in accordance with the requirements of the Oslo Børs Continuing Obligations for stock exchange listed companies. This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
Kitron: Nøkkelinformasjon knyttet til foreslått kontantutbytte for Kit...
Kitron: Nøkkelinformasjon knyttet til foreslått kontantutbytte for Kitron ASA * Utbyttebeløp: NOK 0,75 per aksje * Annonsert valuta: NOK * Siste dag inklusive: 25. april 2024 * Ex-dato: 26. april 2024 * Record date (eierregistreringsdato): 29. april 2024 * Betalingsdato: På eller rundt 16. mai 2024 * Vedtaksdato: 25. april 2024 Denne informasjonen offentliggjøres i henhold til kravene i Oslo Børs løpende forpliktelser for børsnoterte selskaper. Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12
Kitron: Q4 2023 – Solid end to record year
Kitron: Q4 2023 – Solid end to record year (2024-02-14) Kitron today reported record fourth-quarter sales and strong profitability, with margins consistently reaching the company's long-term target. Kitron's revenue for the fourth quarter was EUR 199.1 million, compared to 174.6 million last year. Growth was particularly strong within the Electrification and Defence/Aerospace market sectors. Fourth-quarter operating profit (EBIT) was EUR 18.0 million, compared to 15.9 million last year. EBITDA was EUR 22.8 million, compared to 19.6 million last year. Profitability expressed as EBIT margi...
Kitron: Q4 2023 – Solid avslutning på rekordår
Kitron: Q4 2023 – Solid avslutning på rekordår (2024-02-14) Kitron rapporterer i dag rekordomsetning for fjerde kvartal og sterk lønnsomhet, med marginer stabilt i tråd med selskapets langsiktige mål. Kitrons driftsinntekter for fjerde kvartal var 199,1 millioner euro, sammenlignet med 174,6 millioner i fjor. Veksten var spesielt sterk innen markedssektorene Elektrifisering og Forsvar/Luftfart. Driftsresultatet (EBIT) i fjerde kvartal var 18,0 millioner euro, sammenlignet med 15,9 millioner i fjor. EBITDA var 22,8 millioner euro, mot 19,6 millioner i fjor. Lønnsomheten uttrykt som EBIT-m...
- Emilie Krutnes Engen
Kitron - Initiation of coverage - Powering up
Despite a soft outlook for 2024, we consider Kitron, a leading Scandinavian electronics manufacturing services (EMS) company, to be attractively positioned for continued above-market growth and earnings momentum through its broad industry exposure and proven operating model. While we are 6% below consensus on 2024e earnings, we believe this is already priced in. Thus, we initiate coverage with a BUY and NOK39 target price.
Kitron increases margin ambition
Kitron increases margin ambition (2023-12-13) Kitron today hosts a Capital Markets Presentation to update on the company's financial and commercial targets and ambitions. Kitron aims to reach EUR 1 billion in revenues in 2027 with an operating margin (EBIT) of 9 percent. The company’s previous 2027 ambition, outlined a year ago, was revenues of NOK 10 billion and an EBIT margin above 8 percent. For 2023, Kitron reiterates its outlook from the third-quarter report and expects revenues between EUR 750 and 800 million with an operating profit (EBIT) between EUR 65 and 75 million. “While ...
Kitron øker marginambisjonen
Kitron øker marginambisjonen (2023-12-13) Kitron arrangerer i dag en kapitalmarkedspresentasjon for å oppdatere om selskapets finansielle og kommersielle mål og ambisjoner. Kitron har som mål å nå 1 milliard euro i inntekter i 2027 med en driftsmargin (EBIT) på 9 prosent. Selskapets tidligere 2027-ambisjon, presentert for et år siden, var en omsetning på 10 milliarder kroner og en EBIT-margin på over 8 prosent. For 2023 gjentar Kitron sine utsikter fra rapporten for tredje kvartal og forventer driftsinntekter mellom 750 og 800 millioner euro med et driftsresultat (EBIT) mellom 65 og 75 ...
Kitron: Q3 2023 - Record third-quarter sales and strong profitability
Kitron: Q3 2023 - Record third-quarter sales and strong profitability (2023-10-25) Kitron today reported record third-quarter sales and strong profitability, with margins consistently above the company’s long-term target. Kitron's revenue for the third quarter was EUR 179.2 million, compared to 165.5 million last year. Growth was particularly strong within the Electrification market sector. Third-quarter operating profit (EBIT) was EUR 16.2 million, compared to 11.5 million last year. EBITDA was EUR 20.7 million, compared to 15.8 million last year. The order backlog ended at ...
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