Kitron: Q4 2024 - Profitable execution in a shifting market

13 Feb 2025 07:00 CET

(2025-02-13) Kitron today reported fourth-quarter revenue at EUR 160.6 million,
operating profit (EBIT) was EUR 11.8 million and profitability expressed as EBIT
margin was 7.3 per cent.
Though fourth-quarter results still reflect the softer market, they also
demonstrate the effect of restructuring efforts and a steadily improving order
backlog.

The order backlog ended at EUR 472 million. This is the third quarter in a row
with a growing order backlog, a trend that has continued into 2025.

Peter Nilsson, Kitron's CEO, comments:
"2024 was a year of decisive action and resilience. While we faced headwinds in
some markets, our commitment to efficiency and strong execution led to
successful restructuring efforts during the first quarter. Although de-stocking
continues to affect some sub-sectors, we expect that most of this should be
cleared up by mid-2025. In January 2025, the order backlog grew further to EUR
505 million. With an optimized operational base, strategic contract wins, an
aggressive stance on M&A, and market recovery on the horizon, Kitron is well-
positioned to deliver on growth and profitability."

Kitron's revenue for the fourth quarter was EUR 160.6 million, in line with the
guidance given at the Capital Markets Presentation in December. This compares
with 199.1 million in the fourth quarter last year and 145.1 million in the
third quarter this year. The best performing market sector was
Defence/Aerospace.

Fourth-quarter operating profit (EBIT) was EUR 11.8 million, slightly above the
midpoint of the guidance given at the Capital Markets Presentation in December.
This compares with 18.0 million in the fourth quarter last year and 10.7 million
in the third quarter this year.

Profit after tax amounted to EUR 4.9 million, compared to 12.3 million in the
same quarter the previous year. This corresponds to earnings per share of EUR
0.02, down from 0.06 last year. For the full year 2024, earnings per share were
EUR 0.14, down from 0.26 in 2023.

Dividend
The board proposes an ordinary dividend of NOK 0.35 per share (NOK 0.75).

Outlook
For 2025, Kitron reiterates the outlook given at the Capital Markets
Presentation in December and expects revenues between EUR 600 and 700 million.
Operating profit (EBIT) is expected to be between EUR 42 and 63 million.

Enclosed in PDF are the quarterly report and the presentation. The interim
report is presented today at 8.30 a.m. CET by CEO Peter Nilsson and CFO Cathrin
Nylander. It will be webcast at the following link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20250213_9

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 (mailto: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 has operations located in Norway, Sweden,
Denmark, Lithuania, Germany, Poland, the Czech Republic, India, Malaysia, China
and the United States. Kitron has about 2 400 employees, and revenues were EUR
647 million in 2024.

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

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

More information:
Access the news on Oslo Bors NewsWeb site

638482_Kitron 2024 Q4 report.pdf
638482_Kitron 2024 Q4 Presentation.pdf