(2019-03-21) Kitron ASA will today host a Capital Markets Day to update on the progress towards the company's 2020 targets and outline ambitions for a new strategy period.
Kitron reaffirms the goal of organic revenue growth leading to revenue of NOK 3 billion in 2020, with additional revenue from the acquisition of the EMS division of API Technologies.
The company also reaffirms the targets of 7 percent EBIT margin and 25 percent return on operating capital in 2020.
The company has also extended the strategic horizon from 2020 and set the following financial ambitions for 2025:
- Revenue NOK 5 billion, with potential M&A adding upside
- EBIT margin 7%
- ROOC 25%
"Over the past few years, we have significantly improved Kitron's performance. We have accelerated organic growth, continually improved operations, leading to better profitability, and we have added revenue through the recently announced acquisition in the US. In the coming years, we will build on the existing strategy in order to continue to create value for our shareholders," said Cathrin Nylander, CFO and acting CEO of Kitron.
Kitron Capital Markets Day 2019:
Location: Radisson Blu Scandinavia Hotel, Holbergs gate 30 Oslo, Norway
Time: Noon CET. Light lunch will be served from 11.30 until noon.
Enclosed in PDF is the presentation material for the event. There will also be a live webcast: http://webtv.hegnar.no/presentation.php?webcastId=97681869%20 (http://webtv.hegnar.no/presentation.php?webcastId=97681869%20)
For further information, please contact:
Cathrin Nylander, CFO and acting CEO, tel: +47 900 43 284
Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Energy/Telecoms, Industry, Defence/Aerospace, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 2.6 billion in 2018 and has about 1,700 employees. www.kitron.com (http://www.kitron.com)
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kitron ASA via Globenewswire
