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Kitron Raises Revenue and Margin Targets
March 17, 2021 | KitronEstimated reading time: Less than a minute
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.
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.
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