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Electronics Production | February 09, 2012

Kitron releases Q4 results

Kitron's revenue amounted to NOK 442.9 million in the fourth quarter of 2011, a 2.7 per cent decrease compared with the same period last year.
EBIT was NOK 4.5 million (NOK 13.6 million loss). Adjusting for start up cost and restructuring provision EBIT was NOK 31.0 million in the quarter reflecting a significant improved underlying profitability. The profit before tax and discontinued operations was NOK 1.0 million (NOK 18.8 million loss in Q4 2010).

Cash flow from operations was positive by NOK 13.9 million (NOK 39.1 million). The order intake was NOK 421.4 million and the order backlog was NOK 799.3 million, a decrease of 4.9 per cent and 4.4 per centrespectively.

The order intake is at a higher level than in Q3 2011 and the demand from customers remains stable.

Key items fourth quarter 2011
Figures in brackets refer to the fourth quarter of 2010 unless otherwise stated.
 
Stable demand from customers
The order intake decreased by 4.9 per cent to NOK 421.4 million (NOK 443.2 million). The order backlog at the end of the fourth quarter was NOK 799.3 million (NOK 836.1 million), 4.4 per cent lower than last year.
 
Activity level in line with last year
Revenue decreased by 2.7 per cent to NOK 442.9 million (NOK 455.2 million).
 
Improved profitability
EBITDA and EBIT was NOK 13.3 million (NOK 6.2 million loss) and NOK 4.5 million (NOK 13.6 million loss) respectively. Adjusting for start up cost and restructuring provision EBIT was NOK 31.0 million in the quarter reflecting a significant improved underlying profitability.
 
Positive profit before tax
The profit before tax and discontinued operations amounted to NOK 1.0 million (NOK 18.8 million loss).
 
Cash flow
Cash flow from operations in the fourth quarter was NOK 13.9 million (NOK 39.1 million).

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