Kitron ASA (FRA:KP5)

€ 2.704 0.008 (0.3%) Market Cap: 544.87 Mil Enterprise Value: 674.17 Mil PE Ratio: 10.57 PB Ratio: 2.97 GF Score: 92/100

Q3 2020 Kitron ASA Earnings Call Transcript

Oct 21, 2020 / 06:30AM GMT

Release Date Price: €1.79 (-0.45%)

Transcript

Lars Peter Nilsson

Kitron ASA - CEO & President

Welcome to the 2020 first 3 quarters and third quarter report from Kitron. I'm Peter Nilsson, President and CEO. Joining me today is as usual, Ms. Cathrin Nylander, CFO. (Operator Instructions)

Now let's kick things off by taking a look at some of the highlights. Slide 2, please. Q3 2020 is the second record quarter revenue for Kitron, with well over NOK 1 billion in sales. The first 3 quarters of 2020 is over NOK 2.97 billion. The third quarter for Kitron is usually considered the weakest quarter of the year. 2020 has seen exceptional sales in Q3. The market sector's Defence industry and Medical devices have been driving this growth. Medical devices has been particularly strong with an unprecedented high demand generated from the corona pandemic.

Profits improved with Q3 EBIT at NOK 90.5 million and the first 3 quarters of 2020 at close to NOK 237 million. Order backlog shows an improvement over Q3 last year with a growth of 18.5%.

Cash flow suffered during the quarter as a higher degree of sales were generated in the back

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