Kitron lifts financial outlook for 2022
(2022-12-08) Kitron updates its financial outlook due to strong demand and further easing of supply constraints.
At this point, Kitron raises its full-year 2022 revenue outlook to between NOK 6 450 and 6 550 million. Operating profit (EBIT) is expected to be between NOK 440 million and 470 million.
In its third-quarter report, Kitron increased the 2022 revenue outlook to an interval of NOK 6 200 to 6 400 million, while the interval for operating profit (EBIT) at the time was increased to NOK 390 to 430 million.
On 13 December, Kitron will host a Capital Markets Presentation to provide further information on the financial outlook as well as longer-term strategic and financial ambitions.
The event will start at 09:00 CET and last for approximately two hours. To register in advance for the physical event, please send an email to: [email protected]
There will also be a live webcast at the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20221213_1
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: [email protected]
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.
Inside information
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Cathrin Nylander, Chief Financial Officer at Kitron ASA on behalf of the Company on the date and time set out above.
Important information
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as "believe", "expect", "anticipate", "strategy", "intends", "estimate", "will", "may", "continue", "should" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although Kitron believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control.
The information, opinions and forward-looking statements contained in this announcement speak only as at its date, and are subject to change without notice. Kitron undertakes no obligation to review, update, confirm, or to release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this announcement.
This announcement is for information purposes only and is not to be relied upon in substitution for the exercise of independent judgment. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of Kitron.
