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Kitron reported first-quarter results characterised by continued momentum in the Defence & Aerospace market sector and a growing order backlog.
Kitron's revenue for the first quarter was EUR 164.6 million. This compares with EUR 160.6 million in the fourth quarter last year and EUR 173.9 million in the first quarter a year ago. The best-performing market sector was Defence/Aerospace, with strong growth both sequentially and year-on-year.
The order backlog ended at EUR 524.6 million, compared to EUR 445.0 million a year ago. This is a substantial increase from the preceding quarter and the fourth quarter in a row with a growing order backlog.
Operating profit (EBIT) was EUR 12.5 million, compared to EUR 11.8 million in the fourth quarter last year and EUR 10.6 million in the first quarter a year ago. Profitability expressed as EBIT margin was 7.6 per cent, compared to 7.3 per cent in the fourth quarter last year and 6.1 per cent in the first quarter last year.
Peter Nilsson, Kitron's CEO, comments:
“We delivered a strong start to 2025, driven by significant growth in Defence & Aerospace, contributing to an 11 per cent sequential rise in our order backlog. Key strategic orders totaling EUR 76 million from customers such as Kongsberg Defence & Aerospace and Thales strengthen our industry partnerships. Five of our strategically positioned sites have significant Defence & Aerospace experience, enabling rapid scalability as demand increases, with an additional EU site currently being accredited. Despite global tariff uncertainties and cautious short-term market dynamics, our flexible operational strategy positions us confidently for continued growth.”
Profit after tax amounted to EUR 7.6 million, compared to 6.5 million in the same quarter the previous year. This corresponds to earnings per share of EUR 0.04, up from EUR 0.03 last year.
Outlook
For 2025, Kitron expects revenues to be between EUR 640 and 710 million. Operating profit (EBIT) is expected to be between EUR 47 and 65 million. This is unchanged from the lifted outlook published on 2 April.
