Kitron increases margin ambition
December 13 2023 - 1:30AM
Kitron increases margin ambition
(2023-12-13) Kitron today hosts a Capital Markets Presentation
to update on the company's financial and commercial targets and
ambitions.
Kitron aims to reach EUR 1 billion in revenues in 2027 with an
operating margin (EBIT) of 9 percent. The company’s previous 2027
ambition, outlined a year ago, was revenues of NOK 10 billion and
an EBIT margin above 8 percent.
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 andDefence /Aerospace in 2024,” says Peter Nilsson,
CEO of Kitron.
For 2024, Kitron expects revenues between EUR 700 and 800
million. Operating profit (EBIT) is expected to be between EUR 60
and 74 million.
“Over the mid-to-long term, Kitron’s ambition is to achieve more
than 10 percent 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,” says Mr. Nilsson.
The Capital Markets Presentation will start at 09:00 CET, last
for approximately 1.5 hours including Q&A, and be webcast at
the following link:
https://channel.royalcast.com/landingpage/hegnarmedia/20231213_1/
Enclosed in PDF is the presentation material for the event.
For further information, please contact:Peter Nilsson, President
and CEO, tel. +47 94 84 08 50Cathrin Nylander, CFO, tel: +47 900 43
284E-mail: investorrelations@kitron.com
Kitron is a leading Scandinavian electronics manufacturing
services company for the Connectivity, Electrification, Industry,
Medical devices and Defence/Aerospace sectors. The group is located
in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech
Republic, India, China and the United States. Kitron has about 3
200 employees, and revenues were EUR 641 million in 2022.
www.kitron.com
This information is subject to the disclosure requirements
pursuant to Section 5-12 of the Norwegian Securities Trading
Act
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