Kitron today announced first quarter results characterized by continued momentum in the defense and aerospace market sector and a growing order backlog.
Kitron's sales in the first quarter amounted to 164.6 million euros. In the fourth quarter of the previous year, this figure was 160.6 million euros, and in the first quarter of the previous year it was 173.9 million euros. The strongest market sector was defense/aerospace with strong growth both sequentially and year-on-year.
The order backlog amounted to EUR 524.6 million at the end of the financial year, compared to EUR 445.0 million in the previous year. This represents a significant increase compared to the previous quarter and is the fourth consecutive quarter with a rising order backlog.
The operating result (EBIT) amounted to EUR 12.5 million, compared to EUR 11.8 million in the fourth quarter of the previous year and EUR 10.6 million in the first quarter of the previous year. Profitability, expressed as an EBIT margin, amounted to 7.6%, compared to 7.3% in the fourth quarter of the previous year and 6.1% in the first quarter of the previous year.
Peter Nilsson, CEO of Kitron, comments:
"We have had a strong start to 2025, driven by significant growth in defense and aerospace, which contributed to an 11 percent increase in our order backlog compared to the previous quarter. Key strategic orders totaling EUR 76 million from customers such as Kongsberg Defence & Aerospace and Thales strengthen our industry partnerships. Five of our strategically positioned sites have extensive experience in the defense and aerospace sector, enabling rapid scaling as demand increases. A further EU site is currently being accredited. Despite global customs uncertainties and cautious short-term market dynamics, we are confident of further growth with our flexible operational strategy."
Profit after tax amounted to EUR 7.6 million, compared to EUR 6.5 million in the same quarter of the previous year. This corresponds to earnings per share of EUR 0.04 after EUR 0.03 in the previous year.
Outlook
Kitron expects sales of between EUR 640 million and EUR 710 million in 2025. The operating result (EBIT) is expected to be between 47 and 65 million euros. This remains unchanged from the raised outlook published on April 2.
