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Electronics Production | April 29, 2008

Kitron profit up in first quarter

Kitron’s first quarter in 2008 saw a revenue growth of 1.9%. Profit before tax was MNOK 16.2 (MNOK 15.7).
Order intake increased by 10%. Gross margin increased to 39.8% (37.7%). EBITDA was MNOK 30.5 (MNOK 28.9) and EBIT was MNOK 21.6 (MNOK 21.4) Net financial items MNOK 5.5 (MNOK 5.8). Profit before tax was MNOK 16.2 (MNOK 15.7).

Kitron’s business unit for Data and Telecom is showing a weaker trend. The company is adding capacity to satisfy shorter delivery times to attract additional orders. Favourable development in 2007 for the Defence and Marine sector continues into 2008. It has a promising outlook, particularly for Kitron Arendal and Kitron Kaunas.

The medical equipment segment has improved order situation, segment expected to continue its growth. Industry segment order intake was more than doubled from Q1 2007 and may indicate recovery.

The market growth is expected to continue. The company has a growth ambition of 10% annual organic growth and is continuously driving for productivity increases. Machinery upgrades stays on the same level as 2007. Pressure on margins are expected to be compensated by higher productivity, the company said.
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November 11 2018 12:47 pm V11.8.0-1