Tillkännagivande • Apr 24
Kitron ASA Approves Dividend, Payable on or About 15 May 2026 Kitron ASA at its AGM held on 24 April 2026 approved dividend of NOK 0.70 per share for shareholders registered in Kitron's shareholder register with the Norwegian Central Securities Depository (Euronext Securities Oslo, formerly named Euronext VPS) as of the expiry of 28 April 2026 based on normal T+2 settlement. Kitron's shares will be traded on the Oslo Stock Exchange exclusive the right to receive dividend on 27 April 2026. The dividend is expected to be paid on or about 15 May 2026. Tillkännagivande • Jan 13
Kitron ASA (OB:KIT) completed the acquisition of Deltanordic Sweden Ab from Mind Industrial Group AB and Jsls Holding Ab. Kitron ASA (OB:KIT) entered into an agreement to acquire Deltanordic Sweden Ab from Mind Industrial Group AB and Jsls Holding Ab for SEK 1.3 billion on November 19, 2025. The consideration of SEK 1.3 billion on a debt- and cash-free basis, consists to a cash consideration of SEK 760 million will be paid by Kitron ASA. The consideration consists of common equity of Kitron ASA having a value of SEK 150 million to be issued for common equity of Deltanordic Sweden Ab. Kitron ASA will pay an earnout/contingent payment of SEK 345 million cash. Financing of the acquisition is contemplated by way of available funds and facilities. Kitron may consider existing facilities in combination with other financing alternatives, including new bank facilities, debt, equity or other third party financing, to settle the cash part of the purchase price at closing.
Transaction subject to approval from the Swedish Competition Authority and that the Swedish Inspectorate of Strategic Products has cleared or given its approval to the acquisition, with expected lead time of 25 working days. As of December 22, 2025, the transaction was approved by the Swedish Competition Authority and the Swedish Inspectorate of Strategic Products The transaction is expected to close in early January 2026. The acquisition is estimated to be accretive, and adds significant shareholder value.
As of November 25, 2025, it was announced that Kitron ASA completed a private placement raising approximately NOK 973.25 million (SEK 907.05 million) in gross proceeds. Approximately NOK 814 million (SEK 758.63 million) of the net proceeds will be used to finance the cash consideration of the acquisition.
MP Corporate Finance GmbH acted as financial advisor, Ernst & Young acted as financial due diligence provider, and Advokatfirmaet Selmer DA acted as legal advisor to Kitron. Led by Hans Svensson, Morten Nissen, Wendela Hårdemark, Mårten Lindberg, Gunnar Hjalt, Dasha Arntyr, and Ariana Sohrabi of Bird & Bird LLP acted as legal advisor to Kitron. Ulrika Sparrman, Richard Jacobsson, Gabriel Albemark, and Sara Malmgren of Eversheds Sutherland Advokatbyrå Ab acted as legal advisor to Mind Industrial Group AB and Jsls Holding Ab.
Kitron ASA (OB:KIT) completed the acquisition of Deltanordic Sweden Ab from Mind Industrial Group AB and Jsls Holding Ab on January 12, 2026. In connection with completion of the Transaction, Kitron's board of directors has today resolved to issue 2,299,612 new shares to the sellers pursuant to the existing board authorisation to issue new shares granted by the Kitron’s annual general meeting held on April 24, 2025. Furthermore, 1,192,927 of the consideration shares are subject to a lock-up period of 12 months and 1,106,685 consideration shares are subject to a lock-up period of 6 months on the terms and conditions of the share purchase agreement. Board Change • Dec 30
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Employee Representative Director Haakon Ljostad was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Tillkännagivande • Dec 11
Kitron ASA Provides Earnings Guidance for 2026 Kitron ASA provided earnings guidance for 2026. For 2026, company expects revenues of EUR 855 million to EUR 943 million and operating profit (EBIT) of EUR 77 million to EUR 93 million. These figures include DeltaNordic. Reflecting accelerating defence demand and expanded capacity, Kitron is updating and extending its medium-term ambitions. Over the coming year, the company expects to approach its previously communicated revenue target of EUR 1 billion. Kitron now outlines the way forward to EUR 1.5 billion in revenue. Tillkännagivande • Dec 02
Kitron ASA, Annual General Meeting, Apr 24, 2026 Kitron ASA, Annual General Meeting, Apr 24, 2026. Tillkännagivande • Nov 21
Kitron ASA Provides Earnings Guidance for 2026 Kitron ASA provided earnings guidance for 2026. For 2026 (excluding DeltaNordic): Revenue of EUR 785 million- EUR 865 million. EBIT of EUR 70 million- EUR 84 million. Tillkännagivande • Nov 20
Kitron ASA (OB:KIT) entered into an agreement to acquire Deltanordic Sweden Ab from Mind Industrial Group AB and Jsls Holding Ab for SEK 1.3 billion. Kitron ASA (OB:KIT) entered into an agreement to acquire Deltanordic Sweden Ab from Mind Industrial Group AB and Jsls Holding Ab for SEK 1.3 billion on November 19, 2025. The consideration of SEK 1.3 billion on a debt- and cash-free basis, consists to a cash consideration of SEK 760 million will be paid by Kitron ASA. The consideration consists of common equity of Kitron ASA having a value of SEK 150 million to be issued for common equity of Deltanordic Sweden Ab. Kitron ASA will pay an earnout/contingent payment of SEK 345 million cash. Financing of the acquisition is contemplated by way of available funds and facilities. Kitron may consider existing facilities in combination with other financing alternatives, including new bank facilities, debt, equity or other third party financing, to settle the cash part of the purchase price at closing. There are no financing conditions for the acquisition. Transaction subject to approval from the Swedish Competition Authority and that the Swedish Inspectorate of Strategic Products has cleared or given its approval to the acquisition, with expected lead time of 25 working days. Closing expected to take place in late December, 2025/January, 2026. The acquisition is estimated to be accretive, and adds significant shareholder value. Tillkännagivande • Oct 24
Kitron ASA Revises Earnings Guidance for the Year 2025 Kitron ASA revised earnings guidance for the year 2025. For the period, the company expects revenue to be between EUR 700 and 740 million. Operating profit (EBIT) is expected to be between EUR 59 and 66 million. The previous outlook was for revenue between EUR 675 and 725 million, with an operating profit (EBIT) between EUR 55 and 65 million. The increase is due to growing demand in the Defence/Aerospace market sector. Tillkännagivande • Sep 26
Kitron Asa Announces Executive Changes Kitron announces that Chief Operating Officer Kristoffer Asklov has tendered his resignation in order to assume the role of CEO at a Swedish manufacturing company outside Kitron's competitive landscape. To ensure a smooth transition, Mr. Asklov will remain with Kitron through the fourth quarter and leave the company at the end of the year. Mr. Asklov responsibilities will be dividend between Chief Technology Officer Stian Haugen and Hasse Faxe, who will join the corporate management team as Chief Commercial Officer on 1 October. Mr. Haugen has been with Kitron since 2013 and has served as Chief Technology Officer since 2020. Mr. Faxe joined the Kitron group through the acquisition of BB Electronics in 2022 and currently serves as Global Sales Director. Tillkännagivande • Apr 24
Kitron ASA Approves Dividend Kitron ASA at its Annual General Meeting on 24 April 2025 approved the proposed dividend of NOK 0.35 per share for shareholders registered in shareholder register with the Norwegian Central Securities Depository (Euronext Securities Oslo, formerly named Euronext VPS) as of the expiry of 28 April 2025 based on normal T+2 settlement. Tillkännagivande • Apr 03
Kitron Asa Revises Earnings Guidance for the Full Year 2025 Kitron ASA revised earnings guidance for the full year 2025. For the period, Kitron updated its financial outlook due to strong demand within the Defence/Aerospace market sector along with a gradual recovery in other segments. At this time, Kitron expects revenues for the full year 2025 to be between EUR 640 and EUR 710 million. Operating profit (EBIT) is expected to be between EUR 47 and EUR 65 million. The previous outlook was for revenues between EUR 600 and EUR 700 million, with an operating profit (EBIT) between EUR 42 and EUR 63 million. Tillkännagivande • Dec 10
Kitron ASA Reiterates Earnings Guidance for the Year 2024 and Provides Earnings Guidance for the Year 2025 Kitron ASA reiterated earnings guidance for the year 2024 and provided earnings guidance for the year 2025. For 2024, Kitron reiterated its outlook from the third-quarter report and expects revenue to be between EUR 635 and EUR 660 million with an operating profit (EBIT) between EUR 44 and EUR 50 million, including EUR 4.8 million in restructuring costs in the first quarter.
For 2025, Kitron expects revenue to be between EUR 600 and EUR 700 million with an operating profit (EBIT) between EUR 42 and EUR 63 million. Tillkännagivande • Nov 30
Kitron ASA, Annual General Meeting, Apr 24, 2025 Kitron ASA, Annual General Meeting, Apr 24, 2025. Reported Earnings • Oct 24
Third quarter 2024 earnings released: EPS: €0.03 (vs €0.05 in 3Q 2023) Third quarter 2024 results: EPS: €0.03 (down from €0.05 in 3Q 2023). Revenue: €145.1m (down 19% from 3Q 2023). Net income: €6.10m (down 37% from 3Q 2023). Profit margin: 4.2% (down from 5.4% in 3Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jul 12
Second quarter 2024 earnings released: EPS: €0.05 (vs €0.08 in 2Q 2023) Second quarter 2024 results: EPS: €0.05 (down from €0.08 in 2Q 2023). Revenue: €167.6m (down 19% from 2Q 2023). Net income: €10.4m (down 34% from 2Q 2023). Profit margin: 6.2% (down from 7.6% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Jul 11
Kitron ASA Reiterates Earnings Guidance for the Year 2024 Kitron ASA reiterated earnings guidance for the year 2024. For the year, the company expects revenue to be between EUR 660 million and EUR 710 million with an operating profit (EBIT) between EUR 53 million and EUR 60 million, including EUR 4.8 million in restructuring costs in the first quarter. Tillkännagivande • May 14
Kitron ASA (OB:KIT) commences an Equity Buyback Plan, under the authorization approved on April 25, 2024. Kitron ASA (OB:KIT) commences a share repurchases on May 13, 2024, under the program mandated by the shareholders in the Annual General Meeting held on April 25, 2024. As per the mandate, the company is authorized to repurchase its own shares worth a total nominal value of NOK 1.98 million, representing 10% of the company's share capital. The company will pay a minimum NOK 1 per share and maximum the prevailing market price per share on the day the offer is made, provided, however, that the maximum amount does not exceed NOK 100 per share. The shares repurchased shall either be cancelled, used as remuneration to the members of the Board of Directors, used in incentive schemes or be used as consideration in connection with acquisition of other companies or businesses, joint ventures or joint business operations, and acquisition of property and business. This authorization shall be valid until next Annual General Meeting, but not longer than June 30, 2025. As of April 4, 2024, the company had 198,217,134 shares outstanding and had no shares in treasury. Reported Earnings • Apr 28
First quarter 2024 earnings released: EPS: €0.03 (vs €0.07 in 1Q 2023) First quarter 2024 results: EPS: €0.03 (down from €0.07 in 1Q 2023). Revenue: €173.9m (down 8.8% from 1Q 2023). Net income: €6.50m (down 51% from 1Q 2023). Profit margin: 3.7% (down from 7.0% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.7% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Apr 27
Kitron ASA Revises Earnings Guidance for the Year 2024 Kitron ASA revised earnings guidance for the year 2024. For 2024, the company has previously indicated a revenue outlook of between EUR 700 million and EUR 800 million and an operating profit (EBIT) between EUR 60 million and EUR 74 million. Due to the challenging market outlook, the company now expect revenue to be between EUR 660 million and EUR 710 million. Cost initiatives are implemented to maintain operating margins, and The company expects an operating profit (EBIT) between EUR 53 million and EUR 60 million, including EUR 4.8 million in restructuring costs in the first quarter. Buy Or Sell Opportunity • Apr 26
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 14% to €2.37. The fair value is estimated to be €3.07, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 27% over the last 3 years. Earnings per share has grown by 36%. Revenue is forecast to decline by 0.2% in 2 years. Earnings are forecast to grow by 7.4% in the next 2 years. Upcoming Dividend • Apr 19
Upcoming dividend of kr0.75 per share Eligible shareholders must have bought the stock before 26 April 2024. Payment date: 16 May 2024. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (2.0%). Reported Earnings • Mar 23
Full year 2023 earnings released: EPS: €0.26 (vs €1.46 in FY 2022) Full year 2023 results: EPS: €0.26 (down from €1.46 in FY 2022). Revenue: €775.2m (down 88% from FY 2022). Net income: €51.1m (down 82% from FY 2022). Profit margin: 6.6% (up from 4.4% in FY 2022). The increase in margin was driven by lower expenses. Revenue is forecast to grow 6.8% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 45% per year but the company’s share price has only increased by 13% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: €0.26 (vs €0.14 in FY 2022) Full year 2023 results: EPS: €0.26 (up from €0.14 in FY 2022). Revenue: €775.2m (up 25% from FY 2022). Net income: €51.1m (up 87% from FY 2022). Profit margin: 6.6% (up from 4.4% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has only increased by 20% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Feb 15
Kitron ASA Reiterates Earnings Guidance for the Year 2024 Kitron ASA provided reiterated earnings guidance for the year 2024. For the year, the company expects revenues between EUR 700 and 800 million. Operating profit (EBIT) is expected to be between EUR 60 and 74 million. Tillkännagivande • Feb 14
Kitron ASA Proposes Cash Dividend, Payable on or About 16 May 2024 Kitron ASA proposed cash dividend of NOK 0.75 per share. Ex-date is 26 April 2024. Record date is 29 April 2024. Payment date is on or about 16 May 2024. Date of approval is 25 April 2024. Buying Opportunity • Dec 14
Now 24% undervalued after recent price drop Over the last 90 days, the stock is down 21%. The fair value is estimated to be €3.22, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 24% over the last 3 years. Earnings per share has grown by 29%. Revenue is forecast to grow by 27% in 2 years. Earnings is forecast to grow by 17% in the next 2 years. Tillkännagivande • Dec 13
Kitron Provides Earnings Guidance for the Third Quarter of 2023 and Full Year 2024 Kitron provided earnings guidance for the third quarter of 2023 and full year 2024. For the quarter, the company expects revenues between EUR 750 million and EUR 800 million with an operating profit (EBIT) between EUR 65 million and EUR 75 million.For 2024, the company expects revenues between EUR 700 million and EUR 800 million. Operating profit (EBIT) is expected to be between EUR 60 million and EUR 74 million. New Risk • Nov 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (6.3% average weekly change). Reported Earnings • Oct 27
Third quarter 2023 earnings released: EPS: €0.05 (vs €0.04 in 3Q 2022) Third quarter 2023 results: EPS: €0.05 (up from €0.04 in 3Q 2022). Revenue: €179.2m (up 8.3% from 3Q 2022). Net income: €9.70m (up 29% from 3Q 2022). Profit margin: 5.4% (up from 4.5% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Tillkännagivande • Oct 26
Kitron ASA Reiterates Earnings Guidance for the Year 2023 Kitron ASA reiterated earnings guidance for the year 2023. For 2023, the company reiterates its outlook from the second-quarter report and expects revenues between EUR 750 million and EUR 800 million with an operating profit (EBIT) between EUR 65 million and EUR 75 million. Recent Insider Transactions • Aug 25
Insider recently sold €118k worth of stock On the 22nd of August, Carsten Christensen sold around 36k shares on-market at roughly €3.24 per share. This transaction amounted to 70% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €78k more than they bought in the last 12 months. Buying Opportunity • Aug 16
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 11%. The fair value is estimated to be €4.30, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 22%. Revenue is forecast to grow by 36% in 2 years. Earnings is forecast to grow by 37% in the next 2 years. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: €0.08 (vs €0.03 in 2Q 2022) Second quarter 2023 results: EPS: €0.08 (up from €0.03 in 2Q 2022). Revenue: €206.3m (up 31% from 2Q 2022). Net income: €15.7m (up 138% from 2Q 2022). Profit margin: 7.6% (up from 4.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 34% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 14
Kitron ASA Revises Earnings Guidance for the Fiscal Year 2023 Kitron ASA revised earnings guidance for the fiscal year 2023. For 2023, the company has previously indicated a revenue outlook of between EUR 700 and 800 million and an operating profit (EBIT) between EUR 60 and 75 million. Entering the second half of 2023, demand continues to be strong and capital efficiency ratios are improving. The company now expects revenues between EUR 750 and 800 million with an operating profit (EBIT) between EUR 65 and EUR 75 million. New Risk • Jul 14
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (91% net debt to equity). Share price has been volatile over the past 3 months (6.8% average weekly change). Tillkännagivande • Jun 06
Kitron ASA (OB:KIT) commences an Equity Buyback Plan, under the authorization approved on April 28, 2023. Kitron ASA (OB:KIT) commences a share repurchases on June 5, 2023, under the program mandated by the shareholders in the Annual General Meeting held on April 28, 2023. As per the mandate, the company is authorized to repurchase its own shares worth a total nominal value of NOK 1.98 million, representing 10% of the company's share capital. The company will pay a minimum NOK 1 per share and maximum the prevailing market price per share on the day the offer is made, provided, however, that the maximum amount does not exceed NOK 100 per share. The shares repurchased shall either be cancelled, used as remuneration to the members of the Board of Directors, used in incentive schemes or be used as consideration in connection with acquisition of other companies or businesses, joint ventures or joint business operations, and acquisition of property and business. This authorization shall be valid until next Annual General Meeting, but not longer than June 30, 2024. As of April 5, 2023, the company had 197,691,053 shares outstanding and had no shares in treasury.
On June 2, 2023, the company announced a share repurchase program. Under the program, the company will repurchase up to 22,000 shares for NOK 1 million. The program is valid till June 7, 2023. Board Change • May 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 8 experienced directors. 3 highly experienced directors. Board Director Michael Thomsen was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Apr 25
Upcoming dividend of kr0.50 per share at 1.4% yield Eligible shareholders must have bought the stock before 02 May 2023. Payment date: 18 May 2023. Payout ratio is a comfortable 34% and the cash payout ratio is 77%. Trailing yield: 1.4%. Lower than top quartile of German dividend payers (4.6%). In line with average of industry peers (1.5%). Reported Earnings • Mar 27
Full year 2022 earnings released: EPS: kr1.46 (vs kr0.85 in FY 2021) Full year 2022 results: EPS: kr1.46 (up from kr0.85 in FY 2021). Revenue: kr6.49b (up 75% from FY 2021). Net income: kr287.1m (up 88% from FY 2021). Profit margin: 4.4% (up from 4.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 63% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 16
Full year 2022 earnings released: EPS: kr1.46 (vs kr0.85 in FY 2021) Full year 2022 results: EPS: kr1.46 (up from kr0.85 in FY 2021). Revenue: kr6.49b (up 75% from FY 2021). Net income: kr287.1m (up 88% from FY 2021). Profit margin: 4.4% (up from 4.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 10.0% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has increased by 31% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Dec 14
Kitron ASA Provides Earnings Guidance for Year 2023 Kitron ASA provided earnings guidance for year 2023. The company expects revenue between NOK 6,700 million and NOK 7,300 million in 2023. Operating profit (EBIT) is expected to be between NOK 450 million and NOK 550 million. Tillkännagivande • Dec 09
Kitron Asa Provides Outlook for the Third-Quarter and Full-Year 2022 Kitron ASA provided outlook for the third-quarter and full-year 2022. For the quarter, the company increased the 2022 revenue outlook to an interval of NOK 6 200 to 6 400 million, while the interval for operating profit (EBIT) at the time was increased to NOK 390 to 430 million.For the full-year, the company raises its full-year 2022 revenue outlook to between NOK 6 450 and 6 550 million. Operating profit (EBIT) is expected to be between NOK 440 million and 470 million. Buying Opportunity • Dec 03
Now 20% undervalued Over the last 90 days, the stock is up 19%. The fair value is estimated to be €2.87, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.1%. Revenue is forecast to grow by 32% in 2 years. Earnings is forecast to grow by 70% in the next 2 years. Buying Opportunity • Nov 11
Now 20% undervalued Over the last 90 days, the stock is up 14%. The fair value is estimated to be €2.88, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 7.1%. Revenue is forecast to grow by 32% in 2 years. Earnings is forecast to grow by 70% in the next 2 years. Reported Earnings • Oct 27
Third quarter 2022 earnings released: EPS: kr0.38 (vs kr0.11 in 3Q 2021) Third quarter 2022 results: EPS: kr0.38 (up from kr0.11 in 3Q 2021). Revenue: kr1.66b (up 100% from 3Q 2021). Net income: kr75.2m (up 285% from 3Q 2021). Profit margin: 4.5% (up from 2.4% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 32% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Oct 26
Kitron Asa Raises Earning Guidance for 2022 Kitron ASA raised earning guidance for 2022. For 2022, Kitron has previously indicated a revenue outlook of between NOK 5,700 and 6,100 million and an operating profit (EBIT) between NOK 330 million and 400 million. At this point, Kitron sees strong demand from customers and continued ease of supply chain constraints. Profitability is improving compared to the start of the year, when rapid cost increases challenged the company. Kitron therefore raises its revenue outlook to between NOK 6,200 and 6,400 million. Operating profit is expected to be between NOK 390 million and NOK 430 million. Reported Earnings • Jul 13
Second quarter 2022 earnings released: EPS: kr0.34 (vs kr0.27 in 2Q 2021) Second quarter 2022 results: EPS: kr0.34 (up from kr0.27 in 2Q 2021). Revenue: kr1.58b (up 59% from 2Q 2021). Net income: kr66.3m (up 36% from 2Q 2021). Profit margin: 4.2% (down from 4.9% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 29%, compared to a 20% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Jul 13
Kitron ASA Revises Earnings Guidance for the Full Year 2022 Kitron ASA revised earnings guidance for the full year 2022. For the period, the company raises revenue outlook to between NOK 5,700 and 6,100 million. Operating profit is expected to be between NOK 330 million and NOK 400 million against previously indicated a revenue outlook of between NOK 5,200 and 5,800 million and operating profit (EBIT) between NOK 330 million and 430 million. Reported Earnings • Apr 28
First quarter 2022 earnings released: EPS: kr0.23 (vs kr0.25 in 1Q 2021) First quarter 2022 results: EPS: kr0.23 (down from kr0.25 in 1Q 2021). Revenue: kr1.43b (up 52% from 1Q 2021). Net income: kr44.4m (flat on 1Q 2021). Profit margin: 3.1% (down from 4.8% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 40%, compared to a 26% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Tillkännagivande • Apr 27
Kitron ASA Provides Earnings Guidance for the Year 2022 Kitron ASA provided earnings guidance for the year 2022. For 2022, Kitron expects revenue between NOK 5 200 and 5 800 million, including BB Electronics. Operating profit (EBIT) is expected to be between NOK 330 and 430 million. Upcoming Dividend • Apr 21
Upcoming dividend of kr0.25 per share Eligible shareholders must have bought the stock before 28 April 2022. Payment date: 16 May 2022. Payout ratio is a comfortable 29% but the company is paying out more than the cash it is generating. Trailing yield: 1.2%. Lower than top quartile of German dividend payers (3.9%). In line with average of industry peers (1.1%). Tillkännagivande • Apr 07
Kitron ASA Proposes Dividend for the Financial Year 2021, Payable on or About May 16, 2022 Kitron ASA announced that the Board of Directors proposed to the General Meeting to pay a dividend of NOK 0.25 per share for the financial year 2021. The dividend will be payable to shareholders registered in Kitron's shareholder register with the Norwegian Central Securities Depository (Euronext Securities Oslo, formerly named Euronext VPS) as of expiry of 29 April 2022. Provided the Annual General Meeting approves the proposal, the dividend is expected to be paid on or about 16 May 2022. Tillkännagivande • Mar 10
Kitron ASA Provides Earnings Guidance for the Year 2022 Kitron ASA provided earnings guidance for the year 2022. For 2022, the company expects revenue between NOK 5,200 and 5,800 million, including BB Electronics, which was acquired in January. Operating profit (EBIT) is expected to be between NOK 330 and 430 million. Tillkännagivande • Feb 12
Kitron Asa Provides Earnings Guidance for the Year 2022 Kitron ASA provided earnings guidance for the year 2022. For the period, The company expects revenues to be between NOK 5.2 billion and NOK 5.8 billion, including BB Electronics. The operating profit EBIT is expected to be between NOK 330 million and NOK 430 million. Tillkännagivande • Feb 11
Kitron ASA Proposes Dividend Kitron ASA proposed dividend of NOK 0.25 per share, payable on or about 16 May 2022. Ex-date is 28 April 2022. Record date is 29 April 2022. Tillkännagivande • Jan 12
Kitron ASA (OB:KIT) completed the acquisition of BB Electronics A/S from external investors and management. Kitron ASA (OB:KIT) entered into an agreement to acquire BB Electronics A/S from external investors and management for DKK 600 million on December 20, 2021. Consideration is on a debt- and cash-free (Enterprise Value) basis. The acquisition includes all operations and assets of BB Electronics, inter alia in Denmark, the Czech Republic and China. Kitron has established a term loan facility with DNB Bank ASA, has available revolving credit facilities and received binding offers for debt financing of the acquisition. Kitron expects to enter into agreements for relevant debt financing of the acquisition in due course prior to closing and may also consider equity financing in relation to funding of the acquisition. There are no financing conditions for the acquisition. BB Electronics had net debt of DKK 54.2 million as of 30 September 2021. Management resources will add to Kitron and profitable contribution to Kitron is expected from day 1 following completion. The transaction is conditional upon customary closing conditions and is expected to be completed January 2022. Through the addition of high quality, long-term earnings, the transaction further diversifies Kitron's cash flows and strengthens Kitron's ability to accelerate further growth. Sparebank 1 Markets AS is acting as financial advisor and Advokatfirmaet Selmer AS as legal advisor to Kitron. In addition, Ernst&Young has been engaged to carry out financial due diligence, and Bird&Bird has carried out legal due diligence in Denmark, the Czech Republic and China.
Kitron ASA (OB:KIT) completed the acquisition of BB Electronics A/S from external investors and management on January 10, 2022. Tillkännagivande • Dec 22
Kitron ASA (OB:KIT) entered into an agreement to acquire BB Electronics A/S from BB Electronics Holding ApS, external investors and BB Electronics management for DKK 600 million. Kitron ASA (OB:KIT) entered into an agreement to acquire BB Electronics A/S from BB Electronics Holding ApS, external investors and BB Electronics management for DKK 600 million on December 20, 2021. Consideration is on a debt- and cash-free (Enterprise Value) basis. The acquisition includes all operations and assets of BB Electronics, inter alia in Denmark, the Czech Republic and China. Kitron has established a term loan facility with DNB Bank ASA, has available revolving credit facilities and received binding offers for debt financing of the acquisition. Kitron expects to enter into agreements for relevant debt financing of the acquisition in due course prior to closing and may also consider equity financing in relation to funding of the acquisition. There are no financing conditions for the acquisition. BB Electronics had net debt of DKK 54.2 million as of 30 September 2021. Management resources will add to Kitron and profitable contribution to Kitron is expected from day 1 following completion. The transaction is conditional upon customary closing conditions and is expected to be completed January 2022. Through the addition of high quality, long-term earnings, the transaction further diversifies Kitron's cash flows and strengthens Kitron's ability to accelerate further growth. Reported Earnings • Oct 23
Third quarter 2021 earnings released: EPS kr0.11 (vs kr0.34 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: kr831.4m (down 21% from 3Q 2020). Net income: kr19.5m (down 68% from 3Q 2020). Profit margin: 2.4% (down from 5.8% in 3Q 2020). The decrease in margin was driven by lower revenue. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improved over the past week After last week's 15% share price gain to €2.05, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 22x in the Electronic industry in Germany. Total returns to shareholders of 23% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €2.67 per share. Upcoming Dividend • Sep 28
Upcoming dividend of kr0.35 per share Eligible shareholders must have bought the stock before 05 October 2021. Payment date: 22 October 2021. Trailing yield: 3.8%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (0.7%). Tillkännagivande • Jul 14
Kitron ASA Provides Earnings Guidance for the Year 2021 Kitron ASA provided earnings guidance for the year 2021. For 2021, Kitron expects revenues to be between NOK 3.9 billion and NOK 4.2 billion. EBIT margin is expected to be between 6.8% and 7.4%. The order backlog for defense weakens for the full year, and sales outlook is also expected to be down around 10%. Reported Earnings • Jul 13
Second quarter 2021 earnings released: EPS kr0.27 (vs kr0.36 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: kr993.8m (down 4.5% from 2Q 2020). Net income: kr48.6m (down 24% from 2Q 2020). Profit margin: 4.9% (down from 6.2% in 2Q 2020). The decrease in margin was driven by lower revenue. Reported Earnings • Apr 24
First quarter 2021 earnings released: EPS kr0.25 (vs kr0.23 in 1Q 2020) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2021 results: Revenue: kr937.5m (up 6.8% from 1Q 2020). Net income: kr44.7m (up 9.4% from 1Q 2020). Profit margin: 4.8% (up from 4.7% in 1Q 2020). The increase in margin was driven by higher revenue. Upcoming Dividend • Apr 15
Upcoming dividend of kr0.35 per share Eligible shareholders must have bought the stock before 22 April 2021. Payment date: 03 May 2021. Trailing yield: 3.3%. Within top quartile of German dividend payers (3.2%). Higher than average of industry peers (0.8%). Tillkännagivande • Mar 25
Kitron ASA Provides Earnings Guidance for the Year 2021 Kitron ASA provided earnings guidance for the year 2021. For 2021, the company expects revenue between NOK 3,900 and NOK 4,200 million. Reported Earnings • Mar 25
Full year 2020 earnings released: EPS kr1.19 (vs kr0.74 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: kr3.96b (up 20% from FY 2019). Net income: kr213.1m (up 61% from FY 2019). Profit margin: 5.4% (up from 4.0% in FY 2019). The increase in margin was driven by higher revenue.