Kitron ASA (FRA:KP5)

€ 2.696 -0.014 (-0.52%) Market Cap: 546.40 Mil Enterprise Value: 675.70 Mil PE Ratio: 10.57 PB Ratio: 2.97 GF Score: 92/100

Q3 2021 Kitron ASA Earnings Call Transcript

Oct 21, 2021 / 06:30AM GMT

Release Date Price: €1.92 (-7.44%)

Transcript

Lars Peter Nilsson

Kitron ASA - CEO & President

Good morning, and welcome to a review of Kitron's Third Quarter 2021 I'm Peter Nilsson, CEO of Kitron. And with me today, as usual, is CFO, Cathrin Nylander. I'd like to remind you that we will conclude with a Q&A session, and I strongly encourage you to post questions during the presentation.

Now let's look at an overview of the quarter. Next slide, please, Slide 2. Kitron's revenue in the third quarter was NOK 831 million versus last year's NOK 1,054 million. A decrease was expected within the medical devices market sector as the exceptional corona-related demand wanes. Customer demand has been very strong. However, revenue growth was limited by ongoing component shortages. The order backlog ended at a record NOK 256 million, an increase of 38% compared to last year. This is a record and reflects a strong total demand situation. The order backlog increased within all market sectors. In absolute numbers, the order backlog grew the most within electrification and Defence/Aerospace, while the percentage growth was particularly strong within

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