Interim report
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THIRD QUARTER 2026
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THIRD QUARTER REPORT | 2026 2 Q3 This was a quarter where the shape of our growth changed. Over the past year, Defence & Aerospace has led the way. In the third quarter, Electrification, Connectivity and Industry stepped forward alongside it and now carry more of the growth than in the preceding quarters. Nine months into 2026, Kitron is a much larger company than a year ago, and our margins have improved as we scaled. Growth has come from our own sites and from Kitron Eltech, which joined the group at the start of the year. Demand from more directions Electrification is where the change is clearest. Investment in power grids and data centers is long-term, and our customers are placing orders on that basis. Industry, which we described as softer at mid-year, has turned. Connectivity also booked more than it delivered, and it gave us the largest share of new program wins in the quarter. So far this year we’ve booked new program wins valued at over €250 million. Several leading customers are showing a strong outlook for the rest of 2026 and into 2027. This is the demand we want: broad, long-term and spread across sectors. Defence & Aerospace: a quarter of adjustment Defence & Aerospace deliveries were lower than in the second quarter, and orders were lower after a very strong first half. Several of the newer defence technology companies are adjusting their focus as emerging new capabilities are industrialized over the next few quarters. We expect orders to pick up again in the coming quarters as new capabilities are launched. Defence programs run for many years and orders come in unevenly, while European defence spending is set to rise for many years. Working through a tight supply chain The supply chain stayed tight, and with normal summer seasonality, we still delivered a quarter in line with our expectations. We also used the time to build inventory for deliveries in the fourth quarter and into 2027. That held back cash in the quarter, but it puts us in position to deliver when our customers need it. The constraints in the market are expected to continue into 2027. Grow and build where demand is Ten of our sites now support Defence & Aerospace production, and our footprint continues to expand alongside our customers. In Horsens, Denmark, construction of a new facility will begin in early 2027, enabling us to grow with customers in the region. In Örnsköldsvik, Sweden, the site has been cleared, and construction will begin soon. A flexible, well-trained workforce is one of our strengths. Over the past year, and again this quarter, our teams have moved between sites to ramp up production where it was needed most. Outlook Our guidance for 2026, raised during the quarter, is revenue of €1,050– 1,150 million and EBIT of €97–112 million. Our task for the rest of the year is clear: deliver what we have built for, and keep broadening our base of customers and sectors. We will enter 2027 on a broader base than we started 2026 with. Broadening the base Peter Nilsson President & CEO, Kitron Group CEO commentary Defence & Aerospace: a quarter of adjustment
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THIRD QUARTER REPORT | 2026 3 Q3 Exceptional growth continues Kitron’s revenue for the third quarter was EUR 266.8 million (EUR 167.8 million), an increase of 59.0 per cent from last year. The Defence/ Aerospace market sector showed exceptional growth, but there was solid growth across several other market sectors as well. Kitron’s revenue for the first three quarters was EUR 835.2 million (EUR 504.6 million), an increase of 65.5 per cent compared to last year EBIT margin above 9 per cent, in line with target Third quarter EBITDA* was EUR 32.1 million (EUR 19.1 million). Operating profit (EBIT)* for the third quarter ended at EUR 25.2 million (EUR 14.6 million). Profitability expressed as EBIT margin* was 9.5 per cent (8.7 per cent). Profit after tax was EUR 17.4 million (EUR 9.1 million), corresponding to EUR 0.08 earnings per share (EUR 0.05). EBITDA* for the first three quarters was EUR 99.0 million (EUR 55.7 million), an increase of 78 per cent from last year. Operating profit (EBIT)* for the first three quarters ended at EUR 79.2 million (EUR 42.0 million), an increase of 89 per cent. Profitability expressed as EBIT margin* was 9.5 per cent (8.3 per cent). Profit after tax was EUR 58.8 million (EUR 26.6 million), an increase of 121 per cent and corresponding to EUR 0.27 earnings per share (EUR 0.13). Record order backlog The order backlog ended at EUR 843.3 million, an increase of 41 per cent compared to last year, reflecting broad-based growth across market sectors. Strong return on operating capital Operating cash flow was EUR 3.1 million (EUR 44.2 million) for the third quarter. Net working capital was EUR 188.5 million, an increase of 25 per cent compared to the same quarter last year. Cash conversion cycle R3* was down from 78 days to 69 days, and net working capital R3* as a percentage of revenue was 16.7 per cent compared to 21.6 per cent last year. Return on operating capital (ROOC) R3* was 35.0 per cent compared to 26.3 per cent in the same quarter last year. Acquisition of DeltaNordic completed In the first quarter, Kitron ASA, through its subsidiary Kitron Holding AB, completed the acquisition of DeltaNordic AB, a Swedish provider of advanced electronics and electrical systems with a strong foothold in the defence market. DeltaNordic serves blue-chip customers in defence, mining, and infrastructure. Revenues are projected at approximately SEK 815 million (approximately EUR 74 million) in 2026. Currently, about half of its revenue comes from defence customers—a share that continues to grow. The company operates two production facilities in Sweden and one in Nanjing, China. The company was renamed Kitron Eltech AB in second quarter. The purchase price paid is SEK 787.6 million, settled in January 2026, plus an expected earn-out payment subject to revenue targets of SEK 345 million, subject to post-closing adjustments, if any. Kitron consolidated the acquired business effective 1 January, see note 4 to the financial statements.. Key figures REVENUE Group EUR million EBIT Group EUR million ORDER BACKLOG Group EUR million 0 60 120 180 240 300 Q3 26Q3 25 Q4 25 Q1 26 Q2 26 295.7 266.8 167.8 233.8 272.7 0 5 10 15 20 25 30 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 25.6 28.3 25.2 14.6 22.5 0 150 300 450 600 750 900 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 805.9 794.3 843.3 598.5 709.3 EUR million Q3 2026 Q3 2025 Change 30.09.2026 30.09.2025 Change Full year 2025 Revenue 266.8 167.8 99.0 835.2 504.6 330.6 738.3 EBIT 25.2 14.6 10.7 79.2 42.0 37.1 64.5 Order backlog 843.3 598.5 244.8 843.3 598.5 244.8 709.3 Operating cash flow 3.1 44.2 (41.1) 55.2 75.6 (20.5) 93.6 Net working capital 188.5 151.0 37.4 188.5 151.0 37.4 135.4 * For definition – See Appendix «Definition of Alternative Performance Measures»
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THIRD QUARTER REPORT | 2026 4 Q3 Order intake Order intake in the quarter was EUR 315.8 million, which is 23 per cent higher than for the third quarter of 2025. The order backlog ended at EUR 843.3 million, which is 41 per cent higher than the same period last year. Connectivity Kitron’s Connectivity sector is focused on connected devices. Many of these devices are sensors, continuously feeding data into increasingly advanced software, utilizing artificial intelligence to make predictions and improve efficiency and safety. Examples are multiplying, in everything from industrial control systems to medical devices monitoring vital functions and modern cars, containing many sensors communicating with the Internet. Another part of the connectivity market sector is communication, which supplies the backbone for sensors and IOT. Typical products here are wireless communication, optical transmission and networking products. Electrification Kitron’s Electrification sector is focused on the megatrend that sees the world increasingly moving to renewable energy and electrification. Examples are battery management, power grid transmission, power and electric drive management, charging and fuel cell technology. Kitron is involved with electrification from the power grid to end-user products, from control systems for offshore wind power to battery management systems and charging stations. Industry Within the Industry sector, Kitron operates and delivers a complete range of services within industrial applications like automation, environmental, material warehousing and security. The Industry sector consists of three main product areas: control systems, electronic control units and automation. Medical devices The medical device sector consists of the product areas diagnostics, life support, surgical, hospital and home care. Kitron is especially strong in ultrasound and cardiology systems, respiratory medical devices and Lab/IVD (In-Vitro Diagnostics). Defence/Aerospace Aerospace is mainly navigation and communication equipment for civil and military avionics. Defence is primarily communication, encryption, and surveillance systems. The Defence/Aerospace sector is in general characterized by project deliveries. Markets Revenue market sectors REVENUE Connectivity EUR million REVENUE Electrification EUR million REVENUE Industry EUR million REVENUE Medical Devices EUR million REVENUE Defence/Aerospace EUR million 0 10 20 30 40 50 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 44.4 45.5 50.0 37.8 43.0 0 4 8 12 16 20 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 13.6 13.7 12.6 13.3 14.5 0 40 80 120 160 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 137.3 154.2 123.8 49.9 94.5 Q4 25 Q1 26 Q2 26 Q3 26Q3 25 0 5 10 15 20 25 30 35 40 34.0 35.1 35.2 27.9 33.7 0 10 20 30 40 50 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 45.1 38.9 48.1 43.3 47.2 EUR million Q3 2026 Q3 2025 Change 01.01- 30.09.2026 01.01- 30.09.2025 Change Full year 2025 Connectivity 35.2 27.9 7.3 104.3 84.0 20.3 117.7 Electrification 45.1 38.9 6.2 135.5 124.9 10.7 173.0 Industry 50.0 37.8 12.2 139.3 119.2 20.1 162.2 Medical devices 12.6 13.3 (0.7) 40.0 36.6 3.4 51.1 Defence / Aerospace 123.8 49.9 74.0 416.0 139.9 276.1 234.4 Total group 266.8 167.8 99.0 835.2 504.6 330.6 738.3 Four quarters moving average order intake was up from EUR 313.7 million at the beginning of the third quarter to EUR 328.4 million at the end of the quarter. Kitron’s order backlog includes four months committed customer forecast plus all firm orders for later delivery. REVENUE Group EUR million
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THIRD QUARTER REPORT | 2026 5 Q3 Order backlog market sectors EUR million 30.09.2026 30.09.2025 Change 31.12.2025 Connectivity 85.9 67.9 18.1 66.0 Electrification 181.0 117.5 63.5 153.5 Industry 97.4 65.8 31.6 54.6 Medical devices 25.2 21.0 4.3 18.5 Defence / Aerospace 453.7 326.3 127.3 416.6 Total group 843.3 598.5 244.8 709.3 Organisation The Kitron workforce corresponded to 3 241 full-time employees (FTE) on 30 September 2026. This is an increase of 460 FTE since the third quarter of 2025. The company’s total payroll expenses in the third quarter were EUR 12.9 million higher than in the corresponding period in 2025. The relative payroll costs ended at 15.8 per cent, down from 17.4 per cent of revenue in the third quarter last year. Operations Revenue business sectors EBIT business sectors FTE Business Sectors 30.09.2026 30.09.2025 Change 31.12.2025 Nordics & US 1 335 1 127 208 1 150 CEE 1 282 1 144 138 1 406 Asia 625 510 115 534 Total group 3 241 2 781 460 3 090 EUR million Q3 2026 Q3 2025 Change 01.01- 30.09.2026 01.01- 30.09.2025 Change Full year 2025 Nordics & US 121.6 91.7 29.8 370.2 281.4 88.8 391.7 CEE 116.7 54.8 61.9 388.5 163.0 225.5 265.7 Asia 31.3 23.3 8.0 85.4 66.7 18.6 91.9 Group and eliminations (2.8) (2.1) (0.7) (8.9) (6.6) (2.3) (11.0) Total group 266.8 167.8 99.0 835.2 504.6 330.6 738.3 EUR million Q3 2026 Q3 2025 Change 01.01- 30.09.2026 01.01- 30.09.2025 Change Full year 2025 Nordics & US 8.9 8.7 0.2 28.9 25.8 3.1 36.3 CEE 16.2 5.6 10.6 54.7 15.3 39.4 27.8 Asia 3.2 2.6 0.7 8.7 6.4 2.3 11.1 Group and eliminations (3.1) (2.4) (0.7) (13.2) (5.5) (7.7) (10.7) Total group 25.2 14.6 10.7 79.2 42.0 37.1 64.5
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THIRD QUARTER REPORT | 2026 6 Q3 Finance Net financial items During the quarter, net financial items amounted to a net cost of EUR 3.8 million. The corresponding figure for the third quarter last year was a net cost of EUR 2.6 million. Net disagio for the third quarter amounted to EUR 1.2 million (disagio EUR 0.3 million). Balance sheet Kitron’s gross balance sheet as of 30 September 2026 amounted to EUR 938.2 million, compared to EUR 619.6 million at the same time in 2025. Equity was EUR 377.2 million (EUR 213.4 million), corresponding to an equity ratio of 40.2 per cent (34.4 per cent). Return on equity was 18.9 per cent (17.0 per cent). Equity is influenced by foreign exchange effects from consolidation of foreign subsidiaries. Inventory was EUR 224.0 million as of 30 September 2026 (EUR 149.8 million). Inventory turns* was 3.0 in the third quarter 2026 (2025: 2.8). Deposits from customers are collected to partially offset the increased inventory. Accounts receivable amounted to EUR 188.1 million at the end of the third quarter of 2026. The corresponding amount at the same time in 2025 was EUR 134.1 million. Accounts payable amounted to EUR 332.4 million (EUR 226.1 million) at the end of third quarter of 2026. Included in Accounts payable are customer deposits of EUR 110.5 million (EUR 108.0 million). Contract assets were EUR 108.7 million as of 30 September 2026, compared to EUR 93.1 million at the same time in 2025. Right-of-use assets amounted to EUR 41.4 million at the end of the third quarter compared to EUR 25.6 million at the same time last year. Right- of-use assets consist of buildings, land and vehicles amounting to EUR 33.9 million (2025: EUR 13.8 million) and machinery and equipment amounting to EUR 7.5 million (2025: EUR 11.8 million). Depreciation and interest costs related to leased buildings, land and vehicles were EUR 1.7 million and EUR 0.3 million respectively for the third quarter (2025: EUR 1.0 million and EUR 0.2 million respectively). The group’s reported net interest-bearing debt* as of 30 September 2026 was EUR 38.3 million (2025: EUR 58.6 million). The net gearing of the group was 0.1 (2025: 0.3). Net interest-bearing debt/EBITDA for the last 12 months was 0.3 compared to 0.8 for the same period last year. The net gearing and net interest-bearing debt/ EBITDA excluding IFRS 16 effects were 0.0 and 0.0, respectively. Kitron’s previously communicated 2026 outlook calls for revenue between EUR 1050 and 1150 million, with an operating profit (EBIT) between EUR 97 and 112 million. The Board emphasizes that every assessment of future conditions necessarily involves an element of uncertainty. Oslo, 21 October 2026, Board of directors, Kitron ASA Outlook OPERATING CASH FLOW Group EUR million NET WORKING CAPITAL Group EUR million EQUITY RATIO Group Percent 0 50 100 150 200 250 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 157.7 188.5 151.0 135.4 173.3 0 10 20 30 40 50 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 47.1 3.1 44.2 18.0 5.0 0 10 20 30 40 50 Q3 25 Q4 25 Q1 26 Q2 26 Q3 26 34.4 40.2 42.3 40.0 39.2
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THIRD QUARTER REPORT | 2026 7 Q3 Condensed profit and loss statement Condensed balance sheet EUR million Q3 2026 Q3 2025 01.01- 30.09.2026 01.01- 30.09.2025 Full year 2025 Revenue 266.8 167.8 835.2 504.6 738.3 Cost of materials 178.9 111.3 560.1 335.1 488.8 Payroll expenses 42.1 29.2 130.7 88.0 127.2 Other operational expenses 13.8 9.5 44.6 26.3 40.6 Foreign exchange gains / (losses) 0.1 1.3 (0.8) 0.5 1.4 Operating profit before depreciation and impairments (EBITDA) 32.1 19.1 99.0 55.7 83.1 Depreciation 6.8 4.5 19.9 13.7 18.6 Operating profit (EBIT) 25.2 14.6 79.2 42.0 64.5 Net financial items (3.8) (2.6) (6.3) (7.4) (9.4) Profit / (loss) before tax 21.4 12.0 72.9 34.7 55.1 Tax 4.0 2.9 14.1 8.0 11.3 Profit / (loss) for the period 17.4 9.1 58.8 26.6 43.8 Earnings per share-basic 0.08 0.05 0.27 0.13 0.22 Earnings per share-diluted 0.08 0.05 0.27 0.13 0.22 EUR million 30.09.2026 30.09.2025 31.12.2025 ASSETS Goodwill 96.2 44.5 45.0 Other intangible assets 79.3 25.8 25.7 Property, plant and equipment 62.7 45.3 50.7 Right-of-use assets 41.4 25.6 29.5 Deferred tax assets 6.5 5.5 6.5 Other receivables 0.0 0.3 0.0 Total non-current assets 286.1 147.0 157.5 Inventory 224.0 149.8 155.1 Accounts receivable 188.1 134.1 150.1 Contract assets 108.7 93.1 98.9 Other receivables 35.5 13.1 33.9 Cash and cash equivalents 95.7 82.5 145.8 Total current assets 652.0 472.6 583.8 Total assets 938.2 619.6 741.3 LIABILITIES AND EQUITY Equity 377.2 213.4 313.9 Total equity 377.2 213.4 313.9 Deferred tax liabilities 17.9 7.7 9.1 Interest bearing debt 83.0 82.5 76.5 Lease liabilities 31.4 14.5 16.3 Other liabilities 1.3 1.5 1.7 Total non-current liabilities 133.6 106.3 103.6 Accounts payable 332.4 226.1 268.7 Other payables 64.1 27.5 31.9 Tax payable 11.3 2.3 1.7 Interest bearing debt 10.2 37.3 13.2 Lease liabilities 9.4 6.7 8.2 Total current liabilities 427.4 299.9 323.8 Total liabilities and equity 938.2 619.6 741.3
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THIRD QUARTER REPORT | 2026 8 Q3 Condensed cash flow statement Condensed statement of comprehensive income Changes in equity EUR million Q3 2026 Q3 2025 01.01- 30.09.2026 01.01- 30.09.2025 Full year 2025 Profit before tax 21.4 12.0 72.9 34.7 55.1 Depreciations 6.8 4.5 19.9 13.7 18.6 Change in inventory, accounts receivable, contract assets and accounts payable (30.7) 29.7 (41.8) 37.0 52.5 Change in net other current assets and other operating related items 5.5 (2.0) 4.2 (9.7) (32.6) Net cash flow from operating activities 3.1 44.2 55.2 75.6 93.6 Net cash flow from investing activities (5.5) (2.4) (78.7) (6.0) (12.4) Net cash flow from financing activities (4.7) (13.7) (25.5) (33.6) 17.6 Change in cash and cash equivalents (7.1) 28.2 (49.0) 36.1 98.7 Cash and cash equivalents opening balance 103.7 54.3 145.8 48.7 48.7 Currency conversion of cash and cash equivalents (0.9) - (1.2) (2.3) (1.5) Cash and cash equivalents closing balance 95.7 82.5 95.7 82.5 145.8 EUR million Q3 2026 Q3 2025 01.01- 30.09.2026 01.01- 30.09.2025 Full year 2025 Profit / (loss) for the period 17.4 9.1 58.8 26.6 43.8 Actuarial gains / (losses) pensions 0.3 - 0.3 - (0.0) Exchange differences on translation (1.2) (0.2) 1.2 (2.4) (0.0) Total comprehensive income for the period 16.5 8.9 60.3 24.2 43.8 Allocated to shareholders 16.5 8.9 60.3 24.2 43.8 EUR million 30.09.2026 30.09.2025 31.12.2025 Equity opening balance 313.9 198.9 198.9 Profit / (loss) for the period 58.8 26.6 43.8 Paid dividends (14.1) (6.0) (6.0) Issue of ordinary shares 14.0 0.0 80.4 Employee share schemes 3.1 (1.4) (0.9) Other adjustment - (2.4) (2.4) Other comprehensive income for the period 1.5 (2.4) (0.0) Equity closing balance 377.2 213.4 313.9
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THIRD QUARTER REPORT | 2026 9 Q3 Note 1 – General information and principles The unaudited condensed consolidated financial statements for the third quarter of 2026 have been prepared in accordance with International Financial Accounting Standards (IFRS) and IAS 34 for interim financial reporting. Kitron has applied the same accounting policies as in the consolidated financial statements for 2025. The interim financial statements do not include all the information required for a full financial report and should therefore be read in conjunction with the consolidated financial statements for 2025, which were prepared in accordance with the Norwegian Accounting Act and IFRS, as adopted by the EU. The consolidated financial statements for 2025 are available upon request from the company and at www.kitron.com. Note 2 - Estimates The preparation of the interim financial statements requires the use of evaluations, estimates and assumptions that affect the application of the accounting principles and amounts recognised as assets and liabilities, income and expenses. The actual results may deviate from these estimates. The important assessments underlying the application of Kitron’s accounting policy and the main sources of uncertainty are the same for the interim financial statements as for the consolidated statements for 2025. Note 3 – Financial risk management Kitron’s business exposes the company to financial risks. The purpose of the company’s procedures for risk management is to minimise possibly negative effects caused by the company’s financial arrangements. Note 4 – Business combinations In the first quarter, Kitron ASA, through its subsidiary Kitron Holding AB, completed the acquisition of DeltaNordic AB, a Swedish provider of advanced electronics and electrical systems with a strong foothold in the defence market. DeltaNordic serves blue-chip customers in defence, mining, and infrastructure. The company was renamed Kitron Eltech AB in the second quarter. Revenues are projected at approximately SEK 815 million (approximately EUR 74 million) in 2026. Currently, about half of its revenue comes from defence customers—a share that continues to grow. The company operates two production facilities in Sweden and one in Nanjing, China. The purchase price paid is SEK 787.6 million, settled in January 2026, plus an expected earn-out payment subject to revenue targets of SEK 345 million, subject to post-closing adjustments, if any. The preliminary fair value assessment of the assets and liabilities recognized as a result of the acquisition is as follows: EUR million 01.01.2026 Other intangible assets 0.1 Other intangible assets, customer contracts 57.5 Property, plant and equipment 1.0 Right-of-use assets 4.3 Deferred tax assets 0.2 Inventory 7.5 Contract Assets 2.4 Accounts receivable 7.6 Other receivables 0.5 Cash and cash equivalents 0.0 Deferred tax liabilities (12.2) Other long term debt (0.1) Lease liability long term (3.6) Lease liability short term (1.0) Debt to credit institutions (1.6) Accounts payable (6.4) Tax payable (0.0) Factoring debt (4.9) Other short term debt (4.2) Net identifiable assets acquired 47.3 Add: goodwill 53.4 Net assets acquired 100.7 Goodwill is attributable to workforce and synergies. It will not be deductible for tax purposes. Revenue and profit contribution The acquired business contributed revenues of EUR 17.1 million, EBITDA of EUR 2.2 million, EBIT of EUR 1.7 million and net profit of EUR 1.2 million to the group for the third quarter of 2026. The corresponding figures for the period from 1 January 2026 to 30 September 2026 were revenues of EUR 48.2 million, EBITDA of EUR 6.3 million, EBIT of EUR 5.0 million and net profit of EUR 3.6 million. In addition, other intangible assets (customer contracts) included in the preliminary fair value assessment are amortized with EUR 0.7 million for the third quarter and EUR 2.2 million for the first three quarters. Notes to the financial statements
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THIRD QUARTER REPORT | 2026 10 Q3 Definition of Alternative Performance Measures Kitron uses terms in the consolidated financial statements that are not anchored in the IFRS accounting standards. As being an Electronics Manufacturing Services company, Kitron uses Alternative Performance Measures which are relevant for understanding and evaluation of performance within manufacturing. Our definitions and explanations of these terms follow below. Appendix Order backlog All firm orders and 4 months of committed customers forecast at revenue value as at balance sheet date. Foreign exchange effects Group consolidation restated with exchange rates as comparable period the previous year. Change in volume or balance calculated with the same exchange rates for the both periods are defined as underlying growth. Change based on the change in exchange rates are defined as foreign exchange effects. The sum of underlying growth and foreign exchange effects represent the total change between the periods. EBITDA Operating profit (EBIT) + Depreciation and Impairments EBIT Operating profit EBIT margin (%) Operating profit (EBIT) / Revenue Net working capital Inventory + Contract assets + Accounts Receivables – Accounts Payable Operating capital Other intangible assets + Tangible fixed assets + Net working capital Return on operating capital (ROOC) % Annualised Operating profit (EBIT) / Operating Capital Return on operating capital (ROOC) R3 % (Last 3 months Operating profit (EBIT))*4)/ (Last 3 months Operating Capital /3) Direct Cost Cost of material + Direct wages (subset of personnel expenses only to include personnel directly involved in production) Days of Inventory Outstanding 360/ (Annualised Direct Costs/(Inventory + Contract assets)) Days of Inventory Outstanding R3 360/ ((Last 3 months Direct Costs *4) / (Last 3 months Inventory and Contract assets/3)) Days of Receivables Outstanding 360/ (Annualised Revenue/Trade Receivables) Days of Receivables Outstanding R3 360/ ((Last 3 months Revenue*4)/(Last 3 months Trade Receivables/3)) Days of Payables outstanding 360/ ((Annualised Cost of Material + Annualised other operational expenses) / Trade Payables) Days of Payables Outstanding (R3) 360/ (((Last 3 months (Cost of Material + other operational expenses)*4) / (Last 3 months Trade Payables)/3)) Cash conversion cycle (CCC) Days of inventory outstanding + Days of receivables outstanding – Days of payables outstanding Cash conversion cycle (CCC) R3 Days of inventory outstanding (R3) + Days of receivables outstanding (R3) – Days of payables outstanding (R3) Net Interest-bearing debt Interest bearing debt + Lease liabilities (Non- current liabilities) + Interest bearing debt + Lease liabilities (Current liabilities) less Cash and cash equivalents Interest-bearing debt Interest bearing debt + Lease liabilities (Non- current liabilities) + Interest bearing debt + Lease liabilities (Current liabilities) Inventory turns Annualised direct costs / (Inventory + Contract assets) Variable contribution Revenue - Direct cost Net gearing Net interest bearing debt / Equity Equity Ratio The ratio of Equity to Total Assets Return on Equity (Last 3 months Profit (loss) for the period* 4)/ (Last 3 months Equity/3)
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Kitron is a leading Scandinavian electronics manufacturing services company for the Connectivity, Electrification, Industry, Medical Devices, and Defence/Aerospace sectors. The group is located in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, China, Malaysia, and the United States, and has about 3 000 employees. Kitron manufactures both electronics that are embedded in the customers’ own product, as well as box-built electronic products. Kitron also provides high-level assembly (HLA) of complex electromechanical products for its customers. Kitron offers all parts of the value chain: from design via industrialization, manufacturing, and logistics, to repairs. The electronics content may be based on conventional printed circuit boards or ceramic substrates. Kitron also provides various related services such as cable harness manufacturing and components analysis, resilience testing, or sourcing any other part of the customer’s product. Customers typically serve international markets and provide equipment or systems for professional or industrial use. Kitron ASA, Olav Brunborgs vei 4, P .O. BOX 97, NO-1375 Billingstad, Norway