Kitron revises outlook for second half 2024

22 Sep 2024 20:38 CEST

(2024-09-22) Reference is made to the outlook given in Kitron's second-quarter
report.

The outlook for Central and Eastern Europe (CEE) sites has not picked up as
expected. Several major customers within the market
sectors Electrification and Industry have continued to reduce and postpone
demand for the third and fourth quarters of 2024 as destocking continues and end
markets have not developed as expected.

To facilitate further growth for the Nordic sites, where demand is strong, and
stabilize the load for the CEE sites, several product transfers have been
planned. Some of these transfers have been pushed to the first half of 2025.

For the third quarter, revenues are expected to be between EUR 140 and 150
million with an operating profit (EBIT) between EUR 8 and 10 million.

The full-year 2024 outlook is updated with revenues of between EUR 635 and 660
million with EBIT between EUR 44 and 50 million, including EUR 4.8 million in
restructuring costs in the first quarter.

The previous outlook for the full year 2024 was revenues between EUR 660 and
710 million with EBIT between EUR 53 and 60 million, including EUR 4.8 million
in restructuring costs in the first quarter.

For further information, please contact:
Peter Nilsson, President and CEO, tel. +47 94 84 08 50
Cathrin Nylander, CFO, tel: +47 900 43 284
E-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, Malaysia, China and the
United States. Kitron has about 2 500 employees, and revenues were EUR 775
million in 2023.

www.kitron.com (http://www.kitron.com)

This information is subject to the disclosure requirements pursuant to Section
5-12 the Norwegian Securities Trading Act

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