Kitron Q1 2012: Higher profitability
(Thomson Reuters ONE) -
(2012-04-26) Kitron's revenue amounted to NOK 450.4 million in the first quarter
of 2012, a 4.8 per cent increase compared with the same period last year. EBIT
was NOK 21.5 million (NOK 11.1 million). The profit before tax and discontinued
operations was NOK 13.9 million (NOK 5.2 million in Q1 2011). Cash flow from
operations was negative by NOK 10.9 million (negative NOK 38.3 million). The
order intake was NOK 448.1 million and the order backlog was NOK 797.0 million,
an increase of 9.2 per cent and a decrease of 2.5 per cent respectively.
Enclosed in pdf are the interim report and the presentation.
Key items
Figures in brackets refer to the first quarter of 2011 unless otherwise stated.
Increased order intake
The order intake increased by 9.2 per cent to NOK 448.1 million (NOK 410.2
million). The order backlog at the end of the first quarter was NOK 797.0
million (NOK 817.1 million), 2.5 per cent lower than last year.
Activity level increasing
Revenue increased by 4.8 per cent to NOK 450.4 million (NOK 429.8 million).
Improved profitability
EBITDA and EBIT were NOK 30.4 million (NOK 18.8 million) and NOK 21.5 million
(NOK 11.1 million) respectively.
Profit before tax and discontinued operations
The profit before tax and discontinued operations amounted to NOK 13.9 million
(NOK 5.2 million).
Cash flow
Cash flow from operations in the first quarter was negative by NOK 10.9 million
(negative NOK 38.3 million) due to build up of working capital.
Kitron is one of Scandinavia's leading electronics manufacturing services
companies for the Defence/Aerospace, Energy/Telecoms, Industry, Medical
equipment and Offshore/Marine sectors. The company is located in Norway, Sweden,
Lithuania, Germany, China and the United States. Kitron had revenues of about
NOK 1.7 billion in 2011 and has about 1 200 employees. www.kitron.com
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
Kitron Q1 2012 Presentation:
http://hugin.info/197/R/1606368/509205.pdf
Kitron Q1 2012 Report:
http://hugin.info/197/R/1606368/509204.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Kitron ASA via Thomson Reuters ONE
[HUG#1606368]
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Datum: 26.04.2012 - 08:25 Uhr
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