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Electronics Production | August 12, 2010

Kitron with slight increase in revenue

Kitron's revenue amounted to NOK 425.7 million (around EUR 53 million) in the second quarter of 2010, a 1.3% increase compared with the same period last year.
The profit before tax and discontinued operations was NOK 1.7 million (NOK 2.7 million). Cash flow from operations was negative by NOK minus 13.7 million (NOK minus 14.4 million). EBITDA and EBIT were NOK 12.4 million (NOK 14.5 million) and NOK 4.5 million (NOK 6.1 million) respectively. Profit before tax and discontinued operations amounted to NOK 1.7 million (NOK 2.7 million), which reflects a margin of 0.4% (0.6%).



The order intake was NOK 507.8 million and the order backlog was NOK 867.7 million, an increase of 21.8% and 17.0% respectively. The Norway-based EMS-provider was able to secure several new customer accounts.

The shortage in the component market has had a negative impact on revenue, productivity and profit.

Outlook
• Revenue growth combined with cost base adjustments expected to yield positive effect on profitability
• Continued focus on operational improvements (supply chain management, ERP, exit or turn around loss making activities etc.)
• Kitron AB expected to be profitable Q3 – Q4 2010
• Profitability for the group expected to increase in 2H 2010

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