(2021-03-17) Kitron focuses on growth opportunities within connectivity and
electrification and increases strategic revenue and margin targets.
The new strategic ambitions will be introduced at a capital markets presentation
today.
Kitron increases its 2025 revenue target from NOK 5 billion to NOK 6 billion.
The company also raises its 2025 EBIT margin target from 7 to 8 percent.
Kitron has also changed the market sectors the company reports on to better
reflect current activity as well as identified growth opportunities. Two new
market sectors are added: Electrification and Connectivity
"The world is increasingly moving to renewable energy and electrification. At
the same time, billions of devices are being connected, we know this as the
"Internet of Things". We experience tremendous opportunities for Kitron based on
both these megatrends, and this is part of the reason we're now raising our
strategic targets. On the operations side, we see that we'll be able to increase
utilization of our facilities and leverage economies of scale to continue to
expand our operating margins," said Peter Nilsson, CEO of Kitron.
Event details:
The presentation will be webcast at 12:00 noon CET today and will be hosted by
CEO Peter Nilsson and other members of group management. The presentation is
expected to last about an hour including a Q&A session. Please use the following
link: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210317_3
Enclosed in PDF is the presentation material for the event.
For further information, please contact:
Peter Nilsson, President & CEO, tel. +47 948 40 850
Cathrin Nylander, CFO, tel: +47 900 43 284
E-mail: investorrelations@kitron.com (mailto:investorrelations@kitron.com)
Kitron is a leading Scandinavian electronics manufacturing services company for
the Connectivity, Electrification, Industry, Medical devices and
Defence/Aerospace sectors. The company is located in Norway, Sweden, Lithuania,
Germany, Poland, China and the United States. Kitron had revenues of about NOK
4.0 billion in 2020 and has about 1 800 employees. www.kitron.com
(http://www.kitron.com)
This information is published in accordance with the requirements of the
Oslo Børs Continuing Obligations for stock exchange listed companies.