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Electronics Production | February 09, 2009

Kitron post record result in 4Q

Revenue amounted to €77 million in fourth quarter of 2008, which represents a 22.9% increase compared with the same period last year. The profit before tax reached €5 million, an increase of nearly 280% compared with the fourth quarter of 2007.
The order intake was €62 million and the order backlog was €111 million, a decrease of 7.0% and an increase of 6.3% respectively. Kitron maintained the trend of growth and strong profitability and delivered a record high performance for 2008 in total.

Key items fourth quarter 2008 (Figures in brackets refer to the fourth quarter of 2007 unless otherwise stated.)

Revenue increased by 22.9% to €77 million (€63 million). EBITDA and EBIT were €7 million (€3.5 million) and €6 million respectively (€2.5 million). Profit before tax amounted to €5.7 million (€2 million), which reflects a margin of 7.4% (3.3%).

Cash flow from operations in the fourth quarter was €7.5 million (€14 million). The deferred tax asset was revalued to €12 million at the end of 2008. The order intake decreased by 7.0% to €62 million (€67 million). The order backlog at the end of the fourth quarter was €111 million (€104 million).

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