© kitron Electronics Production | February 16, 2018
Kitron recorded solid growth during 2017
EMS provider Kitron says its revenues, order backlog and profitability all improved in the forth quarter and full year of 2017.
"We ended 2017 on a positive note in the fourth quarter. Strong growth, improved profitability and improved capital efficiency indicate that we are on track towards our strategic targets. It is especially gratifying that the improvements continue despite component availability being a challenge for the industry in 2017. This demonstrates the importance of Kitron's strong supply chain," CEO Peter Nilsson, says in the fiscal report. Forth quarter revenues amounted to NOK 668 million (EUR 68.75 million), compared to NOK 570 million (EUR 58.66 million) in the same quarter last year, an increase of 17%. The company says that the growth was particularly strong in the Industry market sector. Defence/Aerospace also recorded solid growth. The order backlog ended at NOK 1’306 million (EUR 134.41 million), an increase of 28% compared to last year. Operating profit (EBIT) for the forth quarter was NOK 43.1 million (EUR 4.44 million), compared to 34.1 million (EUR 3.50 million) last year, an increase of 26%. EBITDA was NOK 56.9 million (EUR 5.86 million), an increase of 24% compared to last year. Net profit amounted to NOK 29.6 million (EUR 3.05 million), an increase from 25.4 million (EUR 2.61 million). Looking at the figures for the full year we see that Kitron recorded revenues of NOK 2’437 million (EUR 251.34 million), which show an overall revenue growth of 16% for the year. Operating profit for the year ended at NOK 148.7 million (EUR 15.33 million), compared to 117.8 million (EUR 12.14 million) in 2016. Profit after tax was NOK 99.0 million (EUR 10.21 million), up from 74.6 million (EUR 7.69 million).