Financials Kitron ASA London S.E.

Stocks

0F0J

NO0003079709

Electronic Equipment & Parts

Market Closed - London S.E. Other stock markets 02:33:10 03/02/2025 pm IST			After hours 07:55:30 pm
38.30 ^NOK	-10.30%		86.60	+126.11%

22/07	EARNINGS AND TRADING: Mulberry loss narrows; Hardide raises guidance	AN
13/07	Affarsvarlden issues a neutral rating on Kitron	FW

Projected Income Statement: Kitron ASA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net sales ¹	369.8	593.8	775.2	647.2	738.3	1,114	1,314	1,533
Change	-	60.57%	30.55%	-16.51%	14.08%	50.93%	17.9%	16.68%
EBITDA ¹	34.06	56.84	88.3	66.7	83.1	135.2	161.3	187.8
Change	-	66.88%	55.34%	-24.46%	24.59%	62.72%	19.31%	16.39%
EBIT ¹	23.99	42.07	70.7	48	64.5	108.4	132.2	156.1
Change	-	75.33%	68.05%	-32.11%	34.38%	68.11%	21.93%	18.04%
Interest Paid ¹	-3.652	-6.004	-6	-8.2	-9.4	-4.275	-4.44	-4.2
Earnings before Tax (EBT) ¹	20.34	34.96	64.7	39.9	55.1	103.6	128	153.7
Change	-	71.86%	85.06%	-38.33%	38.1%	88.01%	23.59%	20.05%
Net income ¹	15.23	26.28	51.1	28	43.8	82.16	100.1	120
Change	-	72.56%	94.45%	-45.21%	56.43%	87.59%	21.85%	19.89%
Announcement Date	11/02/22	15/02/23	14/02/24	13/02/25	12/02/26	-	-	-

¹EUR in Million

Estimates

Fiscal Period: December	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1	2027 Q2	2027 Q3	2027 Q4	2028 Q1	2028 Q2
Net sales ¹	85.48	94.52	144.7	153.9	161.3	166	2,235	2,318	2,122	2,276	2,047	1,943	1,724	1,876	1,954	2,032	167.8	233.8	272.7	295.7	256.3	290.7	318	336	324	343	365	389
Change	-	10.57%	53.11%	6.35%	4.8%	2.89%	1,246.64%	3.7%	-8.42%	7.25%	-10.08%	-5.05%	-11.31%	8.85%	4.14%	4%	-91.74%	39.33%	16.64%	8.43%	-13.31%	13.41%	9.38%	5.66%	-3.57%	5.86%	6.41%	6.58%
EBITDA ¹	7.787	7.816	11.78	13.9	15.39	18.6	250.9	264	245.2	260.7	178.9	227.3	181.8	193.9	202.4	231.3	19.1	27.4	31.8	35.1	31.54	36.64	39	42	40	43	44	48
Change	-	0.38%	50.66%	18.04%	10.74%	20.83%	1,249.01%	5.21%	-7.13%	6.33%	-31.37%	27.04%	-20.03%	6.7%	4.35%	14.29%	-91.74%	43.46%	16.06%	10.38%	-10.14%	16.18%	6.43%	7.69%	-4.76%	7.5%	2.33%	9.09%
EBIT ¹	5.153	5.207	7.912	9.76	11.27	15.1	202.8	215.7	191.9	205.8	124.8	173.9	127.1	137.9	148.4	177	14.6	22.5	25.6	28.3	24.9	29.56	32	34	32	35	36	40
Change	-	1.04%	51.94%	23.37%	15.45%	34.03%	1,243.04%	6.33%	-11.04%	7.26%	-39.37%	39.41%	-26.92%	8.45%	7.64%	19.29%	-91.75%	54.11%	13.78%	10.55%	-12.03%	18.73%	8.25%	6.25%	-5.88%	9.38%	2.86%	11.11%
Charge d'intérêts ¹	-0.942	-0.4436	-2.396	-1.73	-1.204	-1.205	-11.76	1.12	-46.11	-13.63	-22.36	-27.95	-27.23	-17.51	-29.59	-27.14	-2.6	-2.1	-0.7	-1.8	-1.25	-1.25	-1	-1	-	-1	-	-
Earnings before Tax (EBT) ¹	4.204	4.763	5.511	8.032	10.06	13.5	191.7	215.7	145.4	193.2	101.2	146.1	99.79	120.3	118.4	149.9	12	20.4	24.9	26.6	23.57	28.05	31	33	32	34	35	40
Change	-	13.3%	15.69%	45.75%	25.3%	34.18%	1,319.86%	12.49%	-32.58%	32.87%	-47.61%	44.34%	-31.7%	20.59%	-1.65%	26.64%	-91.99%	70%	22.06%	6.83%	-11.38%	19.02%	10.5%	6.45%	-3.03%	6.25%	2.94%	14.29%
Net income ¹	2.006	3.982	4.498	6.458	7.29	9.263	155.9	176.4	114.9	140.6	76.51	120.6	72.47	57.25	90.22	118	9.1	17.2	20	21.4	18.24	21.98	24	25	25	27	27	31
Change	-	98.54%	12.96%	43.57%	12.87%	27.08%	1,583.44%	13.1%	-34.86%	22.41%	-45.59%	57.63%	-39.91%	-21%	57.6%	30.8%	-92.29%	89.01%	16.28%	7%	-14.76%	20.49%	9.19%	4.17%	0%	8%	0%	14.81%
Announcement Date	20/10/21	11/02/22	27/04/22	12/07/22	26/10/22	15/02/23	28/04/23	13/07/23	25/10/23	14/02/24	25/04/24	11/07/24	24/10/24	13/02/25	24/04/25	11/07/25	23/10/25	12/02/26	24/04/26	10/07/26	-	-	-	-	-	-	-	-

¹EUR in Million

Estimates

Forecast Balance Sheet: Kitron ASA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Net Debt ¹	56.9	145	129	114	-31.6	-2.19	-16.6	-76.1
Change	-	154.83%	-11.03%	-11.63%	-127.72%	93.07%	-657.99%	-358.43%
Announcement Date	11/02/22	15/02/23	14/02/24	13/02/25	12/02/26	-	-	-

¹EUR in Million

Estimates

Cash Flow Forecast: Kitron ASA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
CAPEX ¹	4.849	8.606	15.8	9.3	12.5	25	26.37	29.27
Change	-	77.47%	83.59%	-41.14%	34.41%	100%	5.47%	11%
Free Cash Flow (FCF) ¹	8.474	5.684	42.7	35.1	81.1	37.75	64.05	100.2
Change	-	-32.93%	651.29%	-17.8%	131.05%	-53.45%	69.67%	56.52%
Announcement Date	11/02/22	15/02/23	14/02/24	13/02/25	12/02/26	-	-	-

¹EUR in Million

Estimates

Forecast Financial Ratios: Kitron ASA

Fiscal Period: December	2021	2022	2023	2024	2025	2026	2027	2028
Profitability
EBITDA Margin (%)	9.21%	9.57%	11.39%	10.31%	11.26%	12.13%	12.28%	12.25%
EBIT Margin (%)	6.49%	7.08%	9.12%	7.42%	8.74%	9.73%	10.06%	10.18%
EBT Margin (%)	5.5%	5.89%	8.35%	6.17%	7.46%	9.3%	9.75%	10.03%
Net margin (%)	4.12%	4.43%	6.59%	4.33%	5.93%	7.37%	7.62%	7.83%
FCF margin (%)	2.29%	0.96%	5.51%	5.42%	10.98%	3.39%	4.88%	6.54%
FCF / Net Income (%)	55.64%	21.63%	83.56%	125.36%	185.16%	45.94%	63.98%	83.52%
Profitability
ROA	-	-	8.97%	4.93%	-	-	-	-
ROE	14.46%	21%	31.27%	14.64%	17.08%	23.18%	22.99%	22.77%
Financial Health
Leverage (Debt/EBITDA)	1.67x	2.55x	1.47x	1.7x	-	-	-	-
Debt / Free cash flow	6.72x	25.51x	3.03x	3.23x	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	1.31%	1.45%	2.04%	1.44%	1.69%	2.24%	2.01%	1.91%
CAPEX / EBITDA (%)	14.24%	15.14%	17.89%	13.94%	15.04%	18.49%	16.34%	15.59%
CAPEX / FCF (%)	57.22%	151.42%	37%	26.5%	15.41%	66.23%	41.17%	29.19%
Items per share
Cash flow per share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Dividend per Share ¹	0.0249	0.0446	0.066	0.03	0.0624	0.1136	0.1457	0.1856
Change	-	78.92%	48.1%	-54.58%	108.04%	82.12%	28.3%	27.32%
Book Value Per Share ¹	0.6575	0.6792	0.9175	1.001	1.559	1.826	2.156	2.585
Change	-	3.31%	35.08%	9.14%	55.65%	17.17%	18.07%	19.87%
EPS ¹	0.0767	0.1336	0.26	0.14	0.22	0.3756	0.4564	0.5462
Change	-	74.19%	94.55%	-46.15%	57.14%	70.71%	21.53%	19.67%
Nbr of stocks (in thousands)	1,97,014	1,97,691	1,98,198	1,98,890	2,16,389	2,18,702	2,18,702	2,18,702
Announcement Date	11/02/22	15/02/23	14/02/24	13/02/25	12/02/26	-	-	-