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(2021-03-17) Kitron focuses on growth opportunities within connectivity and electrification and increases strategic revenue and margin targets.
The new strategic ambitions will be introduced at a capital markets presentation today.
Kitron increases its 2025 revenue target from NOK 5 billion to NOK 6 billion. The company also raises its 2025 EBIT margin target from 7 to 8 percent.
Kitron has also changed the market sectors the company reports on to better reflect current activity as well as identified growth opportunities. Two new market sectors are added: Electrification and Connectivity
"The world is increasingly moving to renewable energy and electrification. At the same time, billions of devices are being connected, we know this as the “Internet of Things”. We experience tremendous opportunities for Kitron based on both these megatrends, and this is part of the reason we're now raising our strategic targets. On the operations side, we see that we'll be able to increase utilization of our facilities and leverage economies of scale to continue to expand our operating margins," said Peter Nilsson, CEO of Kitron.
The presentation will be webcast at 12:00 noon CET today and will be hosted by CEO Peter Nilsson and other members of group management. The presentation is expected to last about an hour including a Q&A session. Please use the following link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210317_3
Enclosed in PDF is the presentation material for the event.
For further information, please contact:
Peter Nilsson, President & CEO, tel. +47 948 40 850
Cathrin Nylander, CFO, tel: +47 900 43 284
Kitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical devices and Defence/Aerospace sectors. The company is located in Norway, Sweden, Lithuania, Germany, Poland, China and the United States. Kitron had revenues of about NOK 4.0 billion in 2020 and has about 1 800 employees. www.kitron.com
This information is published in accordance with the requirements of the Oslo Børs Continuing Obligations for stock exchange listed companies.