Kitron Asa · OSL:KIT
Kitron Asa — Q3 2025 Earnings Presentation
13 slides from Kitron Asa's earnings presentation, Oct 23, 2025
Slide 1: 2025 Q3 Presentation
2025 Q3 Presentation Kitron Group | 2025-10-23
Slide 2: Quarter highlights
Quarter highlights Strong second half to 2025 • Solid performance in Q3 driven by momentum in key sectors. • Order backlog growth 31% YoY to 599 €M . • Defence & Aerospace revenue up 82% year-over-year. Q3-2025 Performance • Q3: REVENUE 167.8 €M; EBIT 14.6 €M; EBIT margin 8.7% • Strong Cash Flow in
Slide 3: Operations and Growth
Operations and Growth ▪ Operational momentum remains solid, with strong execution in key customer ramp-ups and new contract wins. ▪ Profitability holding steady, despite localized headwinds. All regions delivering 9% + EBIT margin ▪ Strategic programs in Defence, Industrial, and Electrification prog
Slide 4: Sector trends Q3 revenue
Sector trends Q3 revenue Revenue per sector €M Connectivity: Q3 Growth: -16%, YTD Growth: –7% Drivers: Half the sector is growing some 50% YoY. Strong subsectors include: Advanced 49.9 sensor, communication and control equipment, transponder and optical transmission. 38.9 36.9 37.8 End-Of-Life legac
Slide 5: Order Backlog Review
Order Backlog Review Order backlog €M Performance, Trends, and Strategic Outlook 326.3 Order backlog: €598M a growth of 31% YoY and 18% QoQ. The quarter Book-to-Bill is 1.5 Connectivity: The Connectivity sector continues to evolve rapidly. We see strong order intake in new technology segments, drive
Slide 6: Q3 Highlights
2025 Q3 Highlights ▪ Revenue: 167.8, 15.6 % (145.1) ▪ EBIT: 14.6, 36.4% (10.7) ▪ EBIT margin: 8.7% (7.4%) ▪ ROOC: 26.3% (16.8%) ▪ Cash Cycle Conversion days: 78 (123) ▪ Operating Cash flow: 44.2 (2.2) ▪ NIBD: 58.6 (118.4) ▪ NIBD/EBITDA: 0.8 (1.6) ▪ Net Gearing: 0.27 (0.06) ▪ Equity %: 34.5% (35.2%)
Slide 7: Third quarter YTD Highlights
2025 Third quarter YTD Highlights ▪ Revenue: 504.6, 3.7 % (486.6) ▪ EBIT: 42.0, 15.9% (36.3) ▪ EBIT margin: 8.3% (7.5%) ▪ Operating Cash flow: 75.6 (29.4) ▪ Net Income: 26.6, 15.4% (23.1) ▪ EPS (EUR): 0.13 (0.12) *Performance measures expressed in €M 7
Slide 8: Business sectors
Business sectors Revenue Business Sectors Q3 2025 Q3 2024 Change 30.09.2025 30.09.2024 Change 31.12.2024 Nordics & North America 91.7 79.6 12.1 281.4 265.7 15.7 355.6 ▪ Nordics & NA and CEE double digit CEE 54.8 42.3 12.5 163.0 154.9 8.1 205.7 Asia 23.3 24.7 -1.4 66.7 72.0 -5.3 95.7 growth from last
Slide 9: Cash flow and working capital
Cash flow and working capital €M ▪ Cash flow from operating activities Cash Flow Q3 2025 Q3 2024 Change 30.09.2025 30.09.2024 31.12.2024 at 44.2 €M (2.2 €M). Profit before tax Depreciations 12.0 4.5 8.4 4.6 3.6 -0.1 34.7 13.7 29.6 13.8 39.9 18.7 ▪ Net working capital at 151.0 €M Change in inventory,
Slide 10: Ratios
Ratios ▪ Net gearing and NIBD/EBITDA 0.27 and 0.8 ▪ Increased deposits from customers in the quarter reduces NIBD and affects most KPIs (NWC/Cash) ▪ Finance cost -2.6 (-2.3) Ratios 30.09.2025 30.09.2024 Change 31.12.2024 R3 NWC % sales 21.6 % 31.0 % -30.3 % 28.8 % R3 ROOC % EBIT 26.3 % 16.8 % 56.5 %
Slide 11: Q3 Key take-ways
2025 Q3 Key take-ways • Revenue of 167.8 up 15.6 % YoY (145.1). • Order backlog growth 31% YoY to 598.5 €M. Q3 Book-to-bill ratio: 1.53 • Defence & Aerospace revenue up 82% year-over-year with a 100% YoY increase in order back log over the quarter. • Non-Defence Sectors outlook unchanged • New defen
Slide 12: Q3 Q&A
2025 Q3 Q&A
Slide 13: Appendix: Definition of alternative performance measures
Appendix: Definition of alternative performance measures Order backlog Return on capital employed (ROCE) Cash conversion cycle (CCC) All firm orders and 4 months of committed customers forecast at EBIT/(Total assets - short term debt) Days of inventory outstanding + Days of receivables outstanding –