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© kitron Electronics Production | April 23, 2018

Solid growth and improved profitability for Kitron in 1Q18

The EMS provider reported that its first quarter revenues increased by 11%, compared to the same quarter last year.
"We're seeing demand increase in all regions and most market sectors. The solid growth and improved profitability in the first quarter indicates that we are on track for our 2018 outlook and our strategic ambitions,” Peter Nilsson, Kitron's CEO, said in a press release.

During the first quarter the company won more than 30 new programmes worth more than NOK 230 million (EUR 23.9 million) of annualised revenue, compared to NOK 75 million (EUR 7.79 million) for the same quarter last year. According to Kitron, 70% of the programmes came from existing customers while the other 30% came from new customers.

Kitron's revenue in the first quarter amounted to NOK 651 million (EUR 67.65 million), compared to 585 million (EUR 60.79) in the same quarter last year, an increase of 11%.

Revenue growth compared to the same quarter last year was particularly strong in the Industry market sector.

Operating profit (EBIT) was NOK 39 million (EUR 4.05 million), compared to 31 million (EUR 3.22 million) last year, an increase of 26%. EBITDA was NOK 53 million (EUR 5.5 million), an increase of 24% compared to last year. Net profit amounted to NOK 26 million (EUR 2.7), an increase from 22 million (EUR 2.28 million).

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September 20 2018 3:35 pm V10.9.6-2