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Q2 2020 Kitron ASA Earnings Call Transcript
Okay. Welcome to the 2020 First Half and Second Quarter Report from Kitron. I'm Peter Nilsson, President and CEO. Joining me today is, as usual, Ms. Cathrin Nylander, CFO.
During the presentation portion of this webcast, I encourage you to post your questions online for the Q&A session that starts immediately after the presentation.
Let's kick things off by taking a look at some of the highlights. So we're moving on to Slide 2, please. Q2 2020 is a record revenue quarter for Kitron, with well over NOK 1 billion in sales. The first half of 2020 is over NOK 1.9 billion. Profits improved in second quarter with EBIT at NOK 88 million, and the first half 2020 EBIT ending at over NOK 146 million. We booked an impressive 45% growth on the order backlog, generating a backlog in excess of NOK 2.1 billion.
Cash flow suffered during the quarter as a higher degree of sales were generated in the back half of the quarter. However, year-to-date cash flow is still favorable. And although net working capital increased slightly in the
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