Electronics Production | October 27, 2011

Kitron Q3 report: Stable market development

Kitron's revenue amounted to NOK 352.7 million in the third quarter of 2011, a 0.2 percent increase compared with the same period last year.
EBIT was NOK 9.2 million (compared to NOK 11.2 million in 2010), a 17.8 percentage point decrease compared with same period last year. The profit before tax and discontinued operations was NOK 8.6 million (compared to NOK 7.8 million in 2010) which reflects a margin of 2.3 percent.

© Kitron

The cash flow from operations was positive by NOK 8.3 million (NOK -39.8 million). The order intake was NOK 391.6 million and the order backlog was NOK 820.8 million, an increase of 17.2 and a decrease of 3.2 percent respectively.
Order intake and backlog rebounding
The order intake increased by 17.2 percent to NOK 391.6 million (NOK 334.0 million). The order backlog at the end of the third quarter was NOK 820.8 million (NOK 848.2 million). The order backlog increased by NOK 39.4 million compared with Q2 2011.

Global expansion ongoing
A new factory in China was officially opened in September 2011. Production has started and the company stated that they expect strong over the next 12 to 18 months.

Revenue stable
Revenue increased by 0.2 per cent to NOK 352.7 million (NOK 351.9 million).
Operating profit
EBITDA and EBIT were NOK 17.2 million (NOK 19.3 million) and NOK 9.2 million (NOK 11.2 million) respectively.
Profit before tax and discontinued operations
Profit before tax and discontinued operations amounted to NOK 8.6 million (NOK 7.8 million), which reflects a margin of 2.5 per cent (2.2 per cent).
Cash flow
Cash flow from operations in the third quarter was positive by NOK 8.3 million (NOK -39.8 million) due to the positive operating result and working capital changes.

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