Kitron sets the bar for 2027, targets €1 billion in revenues
EMS provider Kitron has updated its financial and commercial targets and ambitions. The company aims to reach EUR 1 billion in revenues in 2027 with an operating margin (EBIT) of 9%.
Kitron's previous 2027 ambition, which was outlined a year ago, was revenues of NOK 10 billion and an EBIT margin above 8%.
For 2023, Kitron reiterates its outlook from the third-quarter report and expects revenues between EUR 750 and 800 million with an operating profit (EBIT) between EUR 65 and 75 million.
“While we maintain our 2023 outlook and increase our long-term margin ambition, tempered demand for the first half of the year in Europe and China contribute to a conservative outlook for 2024. On the other hand, we see strong growth within Electrification-fixed infrastructure and Defence /Aerospace in 2024,” says Peter Nilsson, CEO of Kitron, in a press release.
In 2024, the EMS provider says that it expects revenues between EUR 700 and 800 million. Operating profit (EBIT) is expected to be between EUR 60 and 74 million.
Peter Nilsson says that over the mid-to-long term, Kitron’s ambition is to achieve more than 10% organic growth each year from market sectors and product applications supported by strong megatrends.
“We will focus on capacity utilization and maximizing economies of scale to ensure competitiveness and profitability,” Mr. Nilsson concludes.
