Kitron targets NOK 10 billion in revenues
December 13 2022 - 1:00AM
Kitron targets NOK 10 billion in revenues
(2022-12-13) Kitron today hosts a Capital Markets Presentation
to update on the progress towards the company’s targets and outline
ambitions for a new strategy period.
Kitron expands the horizon from 2025 to 2027 and sets a revenue
ambition of more than NOK 10 billion in 2027, based on organic
growth. The 2027 ambitions also include an operating margin (EBIT)
above 8 per cent and a return on operating capital (ROOC) above 25
per cent.
Current demand continues to be strong, and Kitron expects
revenue between NOK 6 700 and 7 300 million in 2023. Operating
profit (EBIT) is expected to be between NOK 450 and 550
million.
“Over the past years, we have demonstrated Kitron’s growth
potential through consistent organic growth supplemented by
targeted acquisitions, while also improving margins. We maintain a
healthy balance sheet and have paid a dividend every year since
2014, contributing to a total shareholder of more than 1500 per
cent,” said Peter Nilsson, CEO of Kitron.
For the 2027 revenue ambition, Kitron maintains its long-term
organic growth target of 10 per cent per year. Acquisitions add
upside to the organic growth rate. The company’s ambitions also
imply further progress on margins and return on capital.
“I see no reason why the positive trends for Kitron should not
continue in the years to come. Our market is growing, and our
customer base contains a healthy mix of recession-resistant market
sectors, such as Defence/Aerospace and Medical devices, and
companies benefiting from megatrends within the Electrification and
Connectivity sectors. We serve these customers through highly
efficient facilities, and we have demonstrated successful capacity
expansion through acquisitions and greenfield projects,” Mr Nilsson
concludes.
The Capital Markets Presentation will start at 09:00 CET, last
for approximately two hours and be webcast at the following link:
https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20221213_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. 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.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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