Brief: Kitron Q2 EBIT Up At NOK 56.4 Mln

Kitron ASA

11/07/2019 14:57

July 11 (Reuters) - Kitron ASA  KP5.OL :
    * REG-KITRON: Q2 2019 – ALL-TIME HIGH OPERATING PROFIT
    * ORDER BACKLOG ENDED AT NOK 1 453 MILLION, AN INCREASE OF
44 PER
CENT COMPARED TO LAST YEAR
    * ORGANIC ORDER BACKLOG GROWTH, EXCLUDING API ACQUISITION,
WAS 28
PER CENT
    * FOR 2019, KITRON EXPECTS REVENUE TO GROW BETWEEN NOK 3 200
AND
NOK 3 400 MILLION
    * Q2 OPERATING PROFIT (EBIT) WAS NOK 56.4 MILLION, COMPARED
TO
45.0 MILLION LAST YEAR
    * WE EXPECT MARGIN CHALLENGES TO BE RESOLVED AS WE MOVE INTO
2020
    * EARNINGS IN VALUE ARE ABOVE PREVIOUS OUTLOOK, HOWEVER EBIT
MARGIN IS EXPECTED TO BE BETWEEN 5.9 AND 6.3 PER CENT
    * REVENUE IN Q2 AMOUNTED TO NOK 860 MILLION, COMPARED TO 667
MILLION IN SAME QUARTER LAST YEAR
    * STRONGER GROWTH THAN EXPECTED DUE TO RAMP-UP OF CUSTOMERS
TEMPORARILY DRIVE INEFFICIENCY IN EXISTING FACILITIES

Source text for Eikon:  ID:nGNE12lNZb 
Further company coverage:  KP5.OL 

 (Gdynia Newsroom)
 ((gdynia.newsroom@thomsonreuters.com; +48 58 772 0920;))