Electronics Production | April 01, 2011
Kontron expects sustained upturn in 2011
In view of positive business trends, Kontron AG expects 2011 first-quarter revenue to grow by around 30 percent year-on-year to more than EUR 120 million (previous-year period: EUR 97.7 million).
With a look to the full year, Kontron anticipates a revenue increase up to EUR 550 million with an target EBIT margin of 8 to 9 percent. In the 2010 financial year, continuous quarterly revenue growth fed through to a full-year revenue total of EUR 509.5 million, compared with EUR 468.9 million in 2009. A new quarterly revenue record was achieved in the fourth quarter at EUR 162.8 million (+20 percent compared with the prior-year period). Write-downs and other operating expenses were necessary due to the suspected fraud case. These write-downs and other operating expenses burdened EBIT to the tune of EUR 33.8 million. EBIT would otherwise have amounted to about EUR 28 million, compared with EUR -5.8 million following the write-down. Further items burdening EBIT included EUR 3.1 million of restructuring expenses in North America and Europe. Kontron AG's operating cash flow amounted to EUR 16.2 million in 2010, compared with EUR 23.9 million in the previous year. The cash position totaled EUR 57.2 million (previous year: EUR 80.2 million), and the net cash position amounted to EUR 11.7 million at the year-end. Total assets stood at EUR 515.6 million, compared with EUR 461.3 million in the previous year. The equity ratio stood at 62.2 percent. The company employed 2,892 staff as of the year-end.
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