-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSoldering Technologies
Soldering is the heartbeat of assembly, and new developments are taking place to match the rest of the innovation in electronics. There are tried-and-true technologies for soldering. But new challenges in packaging, materials, and sustainability may be putting this key step in flux.
The Rise of Data
Analytics is a given in this industry, but the threshold is changing. If you think you're too small to invest in analytics, you may need to reconsider. So how do you do analytics better? What are the new tools, and how do you get started?
Counterfeit Concerns
The distribution of counterfeit parts has become much more sophisticated in the past decade, and there's no reason to believe that trend is going to be stopping any time soon. What might crop up in the near future?
- Articles
- Columns
Search Console
- Links
- Media kit
||| MENU - smt007 Magazine
Kitron Posts Annual Report 2022
March 27, 2023 | KitronEstimated reading time: 1 minute
Kitron publishes its annual financial statements for 2022. Compared to the fourth quarter 2022 report, there are changes to cash flow classifications. Operating cash flow is increased from NOK 116.3 million to NOK 160.3 million. Cash flow from investing is less negative than in the fourth quarter report, and the positive cash flow from financing is reduced. Please see the annual report for details.
The changes have no net effect on total cash flow or the cash position and are primarily related to the acquisition of BB Electronics.
Kitron’s revenue for the year was NOK 6486.7 million (NOK 3711.4 million), which represented a 75 percent increase compared with 2021. The revenue growth reflects underlying growth for all business units and the acquisition of Danish EMS provider BB Electronics AS. EBIT for the group was NOK 459.6 million compared to NOK 240.8 million in 2021. Net profit for the year amounted to NOK 287.1 million (NOK 152.8 million), corresponding to NOK 1.46 per share (NOK 0.85).
According to Kitron dividend policy, 20 to 60% of net profit should be paid back to the shareholders as dividend. Taking the company’s current financial position and investment plans into consideration, the Board of Directors will, propose to the Annual General Meeting a dividend of NOK 0.50 per share for the financial year 2022, equal to 34% of EPS and up from NOK 0.25 last year.
In the Annual Report 2021, Kitron indicated an expected revenue range of between NOK 5 200 and 5 800 million and an operating profit (EBIT) between NOK 330 and 430 million.
Both figures ended significantly higher than the indicated ranges, reflecting increasing demand and easing of supply constraints.
Suggested Items
Vertical Aerospace Finalises Investment Agreement
12/25/2024 | BUSINESS WIREVertical Aerospace Ltd., a global aerospace and technology company that is pioneering electric aviation, has entered into definitive documents and received shareholder approval for a transaction that includes up to $50 million in new committed funding.
The 500 Largest Cellular IoT Deployments Together Account for 632 Million Units
12/23/2024 | Berg InsightBerg Insight presents its yearly updated database covering the 500 largest cellular IoT deployments identified as part of the company’s world-class IoT market research activities since 2004.
Cicor Publishes Nine-month Results Report due to OEP Mandatory Offer
12/20/2024 | CicorCicor Group is publishing a nine-month report today. OEP has published a mandatory offer after it converted its Mandatory Convertible Bonds (MCNs) and thereby crossed the mandatory offer threshold.
Curtiss-Wright Announces New $100 Million Expansion of 2024 Share Repurchase Program, Raises Minimum Annual Repurchase Plan to $60 Million for 2025
12/17/2024 | Curtiss-Wright CorporationCurtiss-Wright Corporation announced a $100 million expansion of its 2024 share repurchase program, which it expects to complete via a 10b5-1 program by the end of the year.
Nordson Corporation Reports Fourth Quarter and Fiscal Year 2024 Results
12/12/2024 | Nordson CorporationNordson Corporation today reported results for the fiscal fourth quarter ended October 31, 2024. Sales were $744 million, a 4% increase compared to the prior year’s fourth quarter sales of $719 million. The increase in fourth quarter 2024 sales included the favorable 6% impact of acquisitions and favorable currency translation of 1%, offset by an organic sales decrease of 3%.