Kitron ASA (OSL:KIT)

kr 29.74 0.06 (0.2%) Market Cap: 5.92 Bil Enterprise Value: 7.37 Bil PE Ratio: 13.65 PB Ratio: 2.77 GF Score: 89/100

Q2 2024 Kitron ASA Earnings Call Transcript

Jul 11, 2024 / 06:30AM GMT

Release Date Price: kr38.72 (+15.58%)

Transcript

Lars Nilsson

Kitron ASA - President, Chief Executive Officer

Good morning, and welcome to Kitron second quarter report 2024. I'm Peter Nilsson, CEO of the Kitron Group. And joining me as usual is Ms. Cathrin Nylander, CFO. Following today's brief presentation, we'll have a Q&A, so please post any questions you may have in the Q&A section of the webcast. I see that we're already have half a dozen questions come in.

So next slide, slide 2, please, and let's jump right into some major milestones for the quarter. We again delivered an operating profit of close to 9%. The Nordic and US operations show positive momentum with a robust margin, largely driven by increased scale. Overall, the region delivers some 15% growth. We expect this trend to continue throughout the year.

At the end of the quarter, we announced orders worth NOK500 million from Kongsberg Defense and Aerospace's for electronics for the Naval Strike Missile. The deliveries will start in 2025 and continue into 2026. It would taking place at the Kitron's facility in Norway.

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