Standard of Excellence: Delivering Excellence—A Daily Goal
Knocking Down the Bone Pile: Tin Whisker Mitigation in Aerospace Applications, Part 3
The Knowledge Base: Building the Workforce of Tomorrow With EMAC
Kitron Reports Strong Growth in Revenue and Order Backlog
July 14, 2016 | KitronEstimated reading time: 4 minutes
Revenue from customers in the Swedish market represented a 47.1% share of the total revenue during the second quarter (46.5%). The Norwegian market represented 32.9% of Kitron’s total revenue in the second quarter (36.1 percent).
Contribution margin
The contribution margin, defined as revenue minus cost of materials and direct payroll expenses, increased from the same period last year, both due to reductions in material costs and labour costs.
Profit
Kitron’s operating profit (EBIT) in the second quarter was NOK 33.1 million, which was an increase of 11.0 million compared with the same period last year (NOK 22.1 million).
Profit before tax in the second quarter of 2016 was NOK 29.1 million, which was an increase of NOK 11.0 million compared to the same period last year.
The company’s total payroll expenses in the second quarter were NOK 9.5 million higher than in the corresponding period in 2015. The relative payroll costs ended at 22.1%, down from 23.6% of revenue in the second quarter last year. Other operating costs were 5.7% of revenue in the second quarter of 2016 (6.2%).
During the quarter net financial items amounted to a net cost of NOK 4.0 million. This is at the same level as for the second quarter last year.
Balance sheet
Kitron’s gross balance as of 30 June 2016 amounted to NOK 1 288.0 million, compared to NOK 1 195.1 million at the same time in 2015. Equity was NOK 559.5 million (NOK 516.7 million), corresponding to an equity ratio of 43.4% (43.2%).
Inventory was NOK 401.6 million as of 30 June 2016 (NOK 408.5 million). Inventory turns was 4.1 in the second quarter 2016, which is an improvement compared to second quarter last year (3.6).
Accounts receivables amounted to NOK 424.3 million at the end of the second quarter of 2016. The corresponding amount at the same time in 2015 was NOK 389.0 million.
The group’s reported interest-bearing debt amounted to NOK 310.0 million as of 30 June 2016. Interest-bearing debt at the end of the second quarter 2015 was NOK 320.9 million. Net Interest Bearing Debt/EBITDA is 1.4 for the second quarter compared to 2.8 at the same time last year.
Cash flow from operational activities for the second quarter of 2016 was NOK 61.0 million (NOK 48.6 million).
Page 2 of 2Share on:
Suggested Items
Knocking Down the Bone Pile: Tin Whisker Mitigation in Aerospace Applications, Part 3
06/25/2025 | Nash Bell -- Column: Knocking Down the Bone PileTin whiskers are slender, hair-like metallic growths that can develop on the surface of tin-plated electronic components. Typically measuring a few micrometers in diameter and growing several millimeters in length, they form through an electrochemical process influenced by environmental factors such as temperature variations, mechanical or compressive stress, and the aging of solder alloys.
RTX, the Singapore Economic Development Board Sign MOU Outlining 10-year Growth Roadmap
06/20/2025 | RTXRTX and the Singapore Economic Development Board (EDB) have signed a Memorandum of Understanding (MoU) which outlines a 10-year roadmap to further long-term strategic collaboration in Singapore.
Indra Signs Agreement with AXISCADES to Boost Production of Cutting-Edge Systems in India
06/18/2025 | PRNewswireParis Air Show -- Indra and the Indian technology company AXISCADES have signed an agreement to collaborate on the production of solutions for the aerospace and defense markets.
GKN Aerospace Delivers First High Voltage EWIS System for Clean Aviation’s SWITCH Project
06/16/2025 | GKN AerospaceGKN Aerospace has completed and delivered the first high voltage Electrical Wiring Interconnection System (EWIS) for the Clean Aviation SWITCH project.
RTX's Collins Aerospace Expands Aircraft Electrification Capabilities in Europe
06/12/2025 | RTXCollins Aerospace, an RTX business, expanded its aircraft electrification capabilities with the introduction of a new engineering center of excellence in Wolverhampton, UK, and a new electric thrust reverser actuation systems (elecTRAS) production line in Colomiers, France.