(2024-12-10) Kitron is hosting a Capital Markets Presentation today to update investors on the company's financial and commercial targets and ambitions.
There is strong growth in the Defence and Aerospace market sector. Other market sectors are expected to recover over 2025 and the beginning of 2026. Despite temporary softness in some segments, Kitron maintains its medium-term financial goals.
"The geopolitical landscape is shifting, and Kitron is adapting. We are pursuing growing market segments, and are focusing on capacity utilization and maximizing economies of scale to ensure competitiveness and profitability. We have a strong balance sheet that provides a solid foundation for growth, both organically and through targeted M&A efforts," said Peter Nilsson, CEO of Kitron.
The company provides the following short-term outlook:
For 2024, Kitron reiterates its outlook from the third-quarter report and expects revenue to be between EUR 635 and 660 million with an operating profit (EBIT) between EUR 44 and 50 million, including EUR 4.8 million in restructuring costs in the first quarter.
For 2025, Kitron expects revenue to be between EUR 600 and 700 million with an operating profit (EBIT) between EUR 42 and 63 million.
"In the short term, the best-performing market sector is clearly Defence & Aerospace. Kitron's advanced skills and strong market presence make us well-positioned for growth in this growing market driven by the reindustrialization of European defence capabilities," said Mr Nilsson.
Kitron maintains its previously communicated medium-term financial goals, including 10 percent organic revenue growth over a business cycle, with M&A adding upside, and a 9 percent operating margin (EBIT).
The Capital Markets Presentation will start at 09:00 CET, last for approximately 1.5 hours including Q&A, and be webcast at the following link:
https://channel.royalcast.com/landingpage/hegnarmedia/20241210_2/
The presentation material for the event is enclosed.
For further information, please contact:
Peter Nilsson, President and CEO, tel. +47 94 84 08 50
Cathrin Nylander, CFO, tel: +47 900 43 284
E-mail: investorrelations@kitron.com
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, Malaysia, China and the United States. Kitron has about 2 800 employees, and revenues were EUR 775 million in 2023.
www.kitron.com
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
Attachment
- Kitron 2024 CMP (https://ml-eu.globenewswire.com/Resource/Download/c63d3d7b-6dcf-46ab-b37d-e44fa9ab723e)
