Brief: Kitron EBIT Margin Rises To 7.0% In Q3

Kitron ASA

26/10/2022 06:10

Oct 26 (Reuters) - Kitron ASA  KIT.OL :
    * REG-KITRON: Q3 2022 - DOUBLED REVENUE IN VERY STRONG
MARKET
    * KITRON'S REVENUE FOR Q3 WAS NOK 1 664 MILLION, COMPARED TO
NOK
831 MILLION LAST YEAR
    * THIRD-QUARTER OPERATING PROFIT (EBIT) WAS NOK 116.3
MILLION,
COMPARED TO 50.1 MILLION LAST YEAR
    * ORDER BACKLOG ENDED AT NOK 4 847 MILLION, AN INCREASE OF
89 PER
CENT COMPARED TO LAST YEAR, REFLECTING VERY STRONG DEMAND.
    * PROFITABILITY EXPRESSED AS EBIT MARGIN WAS 7.0 PER CENT IN
Q3,
COMPARED TO 6.0 PER CENT IN SAME QUARTER LAST YEAR.
    * SEES STRONG DEMAND FROM CUSTOMERS AND CONTINUED EASE OF
SUPPLY
CHAIN CONSTRAINTS
    * PROFITABILITY IS IMPROVING COMPARED TO START OF YEAR, WHEN
RAPID
COST INCREASES CHALLENGED COMPANY.
    * RAISES ITS REVENUE OUTLOOK TO BETWEEN NOK 6 200 AND 6 400
MILLION.
    * OPERATING PROFIT IS EXPECTED TO BE BETWEEN NOK 390 MILLION
AND
NOK 430 MILLION.

Source text for Eikon:  ID:nGNE868Yfj 
Further company coverage:  KIT.OL 
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