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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