-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueCounterfeit 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?
Solder Printing
In this issue, we turn a discerning eye to solder paste printing. As apertures shrink, and the requirement for multiple thicknesses of paste on the same board becomes more commonplace, consistently and accurately applying paste becomes ever more challenging.
A Culture of Thriving
One cannot simply command thriving; it must be nurtured, developed, and encouraged. In this issue, we explore strategies to improve your working relationship model—both internally and externally. In this culture of thriving, your business will grow in the process.
- Articles
- Columns
Search Console
- Links
- Events
||| 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
Global Satellite IoT Subscriber Base to Reach 26.7 Million by 2028
10/14/2024 | Berg InsightThe global satellite IoT communications market is growing at a good steady pace according to a new research report from specialist IoT analyst firm Berg Insight.
Compal Reports Solid September 2024 Sales, Maintains Growth Trajectory
10/14/2024 | Compal Electronics Inc.Compal Electronics Inc. announced consolidated revenue of NT$83.766 million for September 2024.
Smiths Detection Awarded Service Subcontract
10/10/2024 | BUSINESS WIRESmiths Detection, a global leader in threat detection and security screening technologies, announces it has been awarded a seven year contract to support TechFlow’s Integrated Logistics Support Contract with the Transportation Security Administration (TSA) to service hold baggage X-ray inspection systems at airports across the United States.
Scanfil Acquires SRX, Expanding its Presence in Asia Pacific
10/07/2024 | ScanfilScanfil has acquired SRXGlobal Pty Ltd. for EUR 23.3 million (USD 25.7 million), marking a key step in its Asia Pacific expansion. This acquisition includes SRX factories in Melbourne, Australia, and Johor Bahru, Malaysia, with 8 automated SMT lines and about 300 employees.
Electronic System Design Industry Posts $4.7 Billion in Revenue in Q2 2024
10/07/2024 | SEMIElectronic System Design (ESD) industry revenue increased 18.2% to $4,685.5 million in the second quarter of 2024 from the $3,962.7 million registered in the second quarter of 2023, the ESD Alliance, a SEMI Technology Community, announced in its latest Electronic Design Market Data (EDMD) report.