Brief: Kitron Adjusts FY23 Outlook Upwards

Kitron ASA

13/07/2023 11:13

July 13 (Reuters) - Kitron ASA  KIT.OL :
    * KITRON: Q2 2023 - RECORD REVENUE AND PROFITABILITY
    * REVENUE FOR Q2 WAS EUR 206.3 MILLION, COMPARED TO 157.3
MILLION
LAST YEAR
    * SECOND-QUARTER OPERATING PROFIT (EBIT) WAS EUR 19.2
MILLION,
COMPARED TO 9.9 MILLION LAST YEAR
    * Q2 ORDER BACKLOG ENDED AT EUR 535 MILLION, AN INCREASE OF
13 PER
CENT COMPARED TO LAST YEAR
    * GROWING TREND OF CAPACITY DIVERSIFICATION OUTSIDE OF CHINA
    * WILL ADD PRODUCTION CAPACITY TOWARDS END OF 2023 IN CZECH
REPUBLIC AND MALAYSIA
    * CZECH FACILITY WILL SUPPORT INCREASED VOLUMES WITHIN
ELECTRIFICATION MARKET SECTOR
    * MALAYSIAN FACILITY WILL DIVERSIFY OUR ASIAN OFFERING
OUTSIDE
CHINA
    * OUTLOOK 2023:  WE NOW EXPECT REVENUES BETWEEN 750 AND 800
EUR
MILLION WITH AN OPERATING PROFIT (EBIT) BETWEEN 65 AND EUR 75
MILLION

Source text for Eikon:  ID:nGNE871FcW 
Further company coverage:  KIT.OL 

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