Knocking Down the Bone Pile: Revamp Your Components with BGA Reballing
Global Sourcing Spotlight: Balancing Speed and Flexibility Without Sacrificing Control
SMT Perspectives & Prospects: Artificial Intelligence Part 6: Data Module 1
Kitron's Q3 Results Reflect Global Market Dynamics
October 25, 2024 | KitronEstimated reading time: 1 minute
Kitron reported quarterly figures that are impacted by challenging markets but also demonstrate actions taken to adapt to market shifts by leveraging the group’s global capabilities.
Kitron's revenue for the third quarter was EUR 145.1 million, compared to 179.2 million last year. There was growth within the Defence/Aerospace and Medical devices market sectors, while other market sectors declined.
Operating profit (EBIT) was EUR 10.7 million, compared to 16.2 million last year. EBITDA was EUR 15.3 million, compared to 20.7 million last year.
Profitability expressed as EBIT margin was 7.4 per cent, compared to 9.0 per cent last year.
The order backlog ended at EUR 457.7 million, a decrease of 9 per cent compared to last year but an increase of 1 per cent from the preceding quarter.
Peter Nilsson, Kitron's CEO, comments:
“The Nordic and U.S. markets continue to show strength with close to double-digit growth, but the continued economic slowdown in Europe has softened regional demand. However, not all markets tell the same story. Some global segments remain resilient, and we observe a notable rebound in specific segments within China. We are meeting these shifts through program transfers between our sites to optimize our resources. Despite the headwinds presented by the current economic climate, we remain steadfastly optimistic about our long term growth prospects. Our commitment to operational excellence, cost competitiveness, and innovation positions us strongly to deliver sustainable performance in the quarters ahead.”
Profit after tax amounted to EUR 6.1 million, compared to 9.7 million in the same quarter the previous year. This corresponds to earnings per share of EUR 0.03, compared to 0.05 last year.
Capital efficiency temporarily affected by lower revenue
Operating cash flow in the third quarter was EUR 2.2 million, compared to 2.5 million in the same quarter last year.
Net working capital was EUR 183 million, a decrease of 8 per cent compared to the same quarter last year. Net working capital as a percentage of revenue was 31.0 per cent compared to 26.7 per cent last year.
Outlook
For 2024, Kitron expects revenue to be between EUR 635 and 660 million with an operating profit (EBIT) between EUR 44 and 50 million, including EUR 4.8 million in restructuring costs in the first quarter.
Share on:
Testimonial
"Advertising in PCB007 Magazine has been a great way to showcase our bare board testers to the right audience. The I-Connect007 team makes the process smooth and professional. We’re proud to be featured in such a trusted publication."
Klaus Koziol - atgSuggested Items
Firefly Aerospace Announces Strategic Acquisition of SciTec to Advance National Security Capabilities
10/07/2025 | Firefly AerospaceFirefly Aerospace, a market leading space and defense technology company, has entered into a definitive agreement to acquire SciTec, Inc., a leader in advanced national security technologies, for approximately $855 million through a combination of $300 million in cash and $555 million in Firefly shares issued to SciTec owners at a price of $50 per share.
High-Tech Hill Technology Park Opens: Four New Factories Launched
09/26/2025 | TeltonikaThe ambitious vision announced in late 2020 to build a world-class technology park in Liepkalnis, Vilnius, has become a reality. AGP Investments, led by entrepreneur Arvydas Paukštys, together with high-tech leaders Teltonika and TLT, today inaugurated four new factories at the Vilnius High-Tech Hill Technology Park.
U.S. Manufacturing Jobs Decline Amid Tariffs and Immigration Crackdown
09/17/2025 | I-Connect007 Editorial TeamManufacturers in the U.S. are cutting jobs even as President Donald Trump pushes policies he says will revitalize the industry. Employers shed 12,000 manufacturing jobs in August, while payrolls in the sector have fallen by 42,000 since April, according to a new analysis from the Center for American Progress (CAP) based on government labor data.
Defense Speak Interpreted: If CHIPS Cuts Back, What Happens to Electronics Packaging Funds?
09/02/2025 | Dennis Fritz -- Column: Defense Speak InterpretedIn my May column, I examined the topic of the CHIPS Act and its current status as a U.S. government program. I found that CHIPS activities continue, but some corporations have delayed or canceled them because of budget cuts or corporation-specific problems. However, CHIPS integrated circuits—mostly administered by the Department of Commerce—don’t fully drive the electronics interconnection activity being funded by the government. Let’s cover the progress/status of other programs:
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.