Kitron posts EUR 167.6 million in 2Q revenue
Scandinavian electronics company Kitron has reported a fall in year-on-year 2Q sales, but says it is 'well-positioned for growth over the next 12 months.'
Kitron's revenue for the second quarter was EUR 167.6 million, compared to EUR 206.3 million last year. Second-quarter operating profit (EBIT) was EUR 15.0 million, compared to EUR 19.2 million last year. EBITDA was EUR 19.6 million, compared to EUR 23.5 million last year.
The firm performed best in the defence/aerospace market sector, while other market sectors declined. It remains positive about the outlook for the rest of the year, expecting revenue to be between EUR 660 and EUR 710 million with an operating profit between EUR 53 and EUR 60 million.
Peter Nilsson, Kitron's CEO, said: “Kitron is well-positioned for growth over the next 12 months. With robust performance in the defence and aerospace sector and strategic cost-saving measures, the company is well-placed to capitalise on emerging opportunities.”
Kitron serves customers in connectivity, electrification, industrial, medical devices and defence/aerospace sectors. The group has presence in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, Malaysia, China and the US.
