-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueSolder 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.
Certifications
Certifications have historically been seen as a cost of doing business, but how do we turn them into a positive ROI and a value to both customer and vendor?
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Kitron Reports Q4 2022 Record Revenue, Profits, Order Backlog
February 15, 2023 | KitronEstimated reading time: 2 minutes
![](https://iconnect007.com/application/files/1116/9086/9834/market_sales_revenue_adobestockfree_Jul2022.jpeg)
Kitron reported fourth-quarter results showing record levels for revenue, profits and order backlog, driven by a strong market and better component availability.
Kitron’s revenue for the fourth quarter was NOK 1 813 million, compared to NOK 949 million last year. The revenue growth reflects underlying growth for all business units, including acquisitions.
Fourth-quarter operating profit (EBIT) was NOK 165.0 million, compared to 52.3 million last year. EBITDA was NOK 203.2 million, compared to 78.4 million last year.
The order backlog ended at NOK 6 098 million, an increase of 116 per cent compared to last year. All market sectors show growth.
Peter Nilsson, Kitron’s CEO, comments, “We are pleased to report positive quarter-over-quarter growth in 2022, thanks to the alleviation of supply constraints. This has allowed us to ramp up production and meet the surging demand from our clients, leading to improved operational efficiency and robust margins in the fourth quarter. Our diverse market sectors continue to experience strong demand, and we anticipate this positive trend to persist in 2023. We are seeing heightened activity among numerous customers, particularly in the defence sector, as they drive growth and expansion.”
Profitability expressed as EBIT margin was 9.1 per cent in the fourth quarter, compared to 5.5 per cent in the same quarter last year.
Profit after tax amounted to NOK 101.2 million, compared to 40.0 million in the same quarter the previous year. This corresponds to earnings per share of NOK 0.52, up from 0.20 last year.
Strong turnaround in second half of year
Full-year revenue of NOK 6 487 million gave an overall increase in revenue of 75 per cent for the year. The revenue growth reflects underlying growth for all business units, including acquisitions.
Operating profit (EBIT) for the year ended at NOK 459.6 million, compared to NOK 240.8 million in 2021, resulting in an EBIT margin of 7.1 per cent, compared to 6.5 per cent. Profit after tax was NOK 287.1 million, up from NOK 152.8 million, corresponding to NOK 1.46 earnings per share, compared to NOK 0.85 in 2021.
Capital efficiency ratios improving
Operating cash flow in the fourth quarter was NOK 63.1 million, compared to NOK 9.0 million in the fourth quarter of 2021. For the full year, operating cash flow was NOK 117.0 million compared to 126.3 million in 2021.
Net working capital was NOK 1 930 million, an increase of 57 per cent compared to the same quarter last year. Net working capital as a percentage of revenue was 26.1 per cent compared to 31.7 per cent last year. Capital efficiency ratios are now improving. Our focus continues to be on improving the supply situation, as well as managing resources, cash and deliverables.
Dividend
The board proposes an ordinary dividend of NOK 0.50 per share (NOK 0.25).
Outlook
Demand continues to be strong, and the EBIT margin and capital efficiency are improving. For 2023, Kitron expects revenues between NOK 6 700 and 7 300 million. Operating profit (EBIT) is expected to be between NOK 450 and 550 million. Revenue and EBIT are now expected to be in the higher end of the ranges.
Suggested Items
AMOLED Panels Become Mainstream Display for Smartphones, with Shipments Set to Grow by Nearly 25% in 2024
09/06/2024 | TrendForceTrendForce’s latest projections show global shipments of AMOLED smartphone panels are anticipated to surpass 840 million units in 2024, reflecting a remarkable growth of almost 25% from 2023.
Global Smartphone Production Sees Slight Rebound in 3Q24 but Faces a 5% YoY Decline
09/05/2024 | TrendForceTrendForce reports that global smartphone production experienced a 3% quarterly dip, totaling 286 million units in 2Q24.
Global Wrist-Worn Device Market Ships Almost 44 Million Units in 2Q 2024, Led by China’s 10.9% YoY Growth
09/05/2024 | IDCSigmaTron Reports Financial Results for Fiscal 2024
09/04/2024 | SigmaTron International Inc.SigmaTron International, Inc., an electronic manufacturing services company, reported revenues and earnings for the fiscal quarter and fiscal year ended April 30, 2024.
Inside Information, Profit Warning: Aspocomp Lowers Guidance for 2024
08/29/2024 | AspocompAspocomp Group Plc lowers its financial guidance for the year 2024. Aspocomp now estimates that its net sales for 2024 will be below the 2023 level, and its operating result for 2024 will be clearly below the 2023 level. In 2023, net sales amounted to EUR 32.3 million and the operating result was a loss of EUR 1.7 million.