Kitron lifts financial outlook for 2022
December 08 2022 - 10:29AM
Kitron lifts financial outlook for 2022
(2022-12-08) Kitron updates its financial outlook due to strong
demand and further easing of supply constraints.
At this point, Kitron raises its full-year 2022 revenue outlook
to between NOK 6 450 and 6 550 million. Operating profit (EBIT) is
expected to be between NOK 440 million and 470 million.
In its third-quarter report, Kitron increased the 2022 revenue
outlook to an interval of NOK 6 200 to 6 400 million,
while the interval for operating profit (EBIT) at the time was
increased to NOK 390 to 430 million.
On 13 December, Kitron will host a Capital Markets Presentation
to provide further information on the financial outlook as well as
longer-term strategic and financial ambitions.
The event will start at 09:00 CET and last for approximately two
hours. To register in advance for the physical event, please send
an email to: investorrelations@kitron.com
There will also be a live webcast at the following link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20221213_1
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. Included the
acquisition of BB Electronics in January 2022, Kitron has about 2
800 employees, and pro forma revenues were about NOK 5 billion in
2021.
Inside informationThis information is
considered to be inside information pursuant to the EU Market Abuse
Regulation and is subject to the disclosure requirements pursuant
to section 5-12 the Norwegian Securities Trading Act. This stock
exchange announcement was published by Cathrin Nylander, Chief
Financial Officer at Kitron ASA on behalf of the Company on the
date and time set out above.
Important informationMatters discussed in this
announcement may constitute forward-looking statements.
Forward-looking statements are statements that are not historical
facts and may be identified by words such as "believe", "expect",
"anticipate", "strategy", "intends", "estimate", "will", "may",
"continue", "should" and similar expressions. The forward-looking
statements in this release are based upon various assumptions, many
of which are based, in turn, upon further assumptions. Although
Kitron believes that these assumptions were reasonable when made,
these assumptions are inherently subject to significant known and
unknown risks, uncertainties, contingencies and other important
factors which are difficult or impossible to predict and are beyond
its control.
The information, opinions and forward-looking statements
contained in this announcement speak only as at its date, and are
subject to change without notice. Kitron undertakes no obligation
to review, update, confirm, or to release publicly any revisions to
any forward-looking statements to reflect events that occur or
circumstances that arise in relation to the content of this
announcement.
This announcement is for information purposes only and is not to
be relied upon in substitution for the exercise of independent
judgment. It is not intended as investment advice and under no
circumstances is it to be used or considered as an offer to sell,
or a solicitation of an offer to buy any securities or a
recommendation to buy or sell any securities of Kitron.
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