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Kitron reported fourth-quarter revenue at EUR 160.6 million, operating profit (EBIT) was EUR 11.8 million and profitability expressed as EBIT margin was 7.3 per cent.
Though fourth-quarter results still reflect the softer market, they also demonstrate the effect of restructuring efforts and a steadily improving order backlog.
The order backlog ended at EUR 472 million. This is the third quarter in a row with a growing order backlog, a trend that has continued into 2025.
Peter Nilsson, Kitron's CEO, comments:
“2024 was a year of decisive action and resilience. While we faced headwinds in some markets, our commitment to efficiency and strong execution led to successful restructuring efforts during the first quarter. Although de-stocking continues to affect some sub-sectors, we expect that most of this should be cleared up by mid-2025. In January 2025, the order backlog grew further to EUR 505 million. With an optimized operational base, strategic contract wins, an aggressive stance on M&A, and market recovery on the horizon, Kitron is well-positioned to deliver on growth and profitability.”
Kitron's revenue for the fourth quarter was EUR 160.6 million, in line with the guidance given at the Capital Markets Presentation in December. This compares with 199.1 million in the fourth quarter last year and 145.1 million in the third quarter this year. The best performing market sector was Defence/Aerospace.
Fourth-quarter operating profit (EBIT) was EUR 11.8 million, slightly above the midpoint of the guidance given at the Capital Markets Presentation in December. This compares with 18.0 million in the fourth quarter last year and 10.7 million in the third quarter this year.
Profit after tax amounted to EUR 4.9 million, compared to 12.3 million in the same quarter the previous year. This corresponds to earnings per share of EUR 0.02, down from 0.06 last year. For the full year 2024, earnings per share were EUR 0.14, down from 0.26 in 2023.
Dividend
The board proposes an ordinary dividend of NOK 0.35 per share (NOK 0.75).
Outlook
For 2025, Kitron reiterates the outlook given at the Capital Markets Presentation in December and expects revenues between EUR 600 and 700 million. Operating profit (EBIT) is expected to be between EUR 42 and 63 million.
