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Kontron reports high Q3 order intake
Kontron delivered Q3 results in line with its expectations. Guidance for the full year is confirmed by record order intake gives reason for optimism for 2015.
Order intake for continuing operations reached a record in the third quarter of 2014, climbing to EUR 134.9 million or by more than 49 percent on the same quarter last year (Q3 2013: EUR 90.3 million), and by more than 12 percent sequentially (Q2 2014: EUR 120.4 million). Kontron generated revenues from continuing operations of EUR 108.6 million, up slightly on last year. Thus, the company achieved a book-to-bill ratio of 1.24, in excess of 1 for the fourth consecutive quarter. “The fact that order intake, a metric of high significance to our business development, has grown so much, raises our confidence“, says Rolf Schwirz, CEO of Kontron AG. “Moreover, all business units contributed to this excellent result, which confirms to us that we have taken the right steps, and that our customers continue to support us through this difficult transformation process. Clearly, some challenges remain: for example, we were unable to complete as many customer orders as we could have done during the third quarter. We are working hard at resolving existing bottlenecks and expect these orders to have a positive impact on our revenues in the last quarter of the year.” Cash flow from continuing operating activities in the third quarter amounted to EUR -2.9 million, after EUR 4.8 million in the same period of the previous year. “While cash flow from operations is still slightly negative, it has improved on the previous quarter“, says Michael Boy, CFO of Kontron AG. “Our equity ratio is once again above 60 percent, which will stand us in good stead for the significant strategic and operational challenges ahead.”
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