Slide 1: 2025 Q4 Presentation
2025 Q4 Presentation Kitron Group | 2026-02-11
Slide 2: Quarter highlights
Quarter highlights Strong second half to 2025 • Solid performance in Q4 driven by momentum in key sectors. • Order backlog growth 50% YoY to 709 €M . • Defence & Aerospace revenue up 147% year-over-year. Q4-2025 Performance • Q4: REVENUE 233.9 €M; EBIT 22.5 €M; EBIT margin 9.6% • 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 pro
Slide 4: Sector trends – Q4 revenue highlights
Sector trends – Q4 revenue highlights Revenue per sector €M 94,5 Connectivity: o Q4 returned to growth (+9%), despite YTD still slightly negative (-3%). 48,1 43,7 o Q4 growth confirms a turnaround, but legacy product drag still caps full 33,7 31,0 43,0 33,9 38,3 recovery. 14,5 13,8 Electrification:
Slide 5: Performance, Trends, and Strategic Outlook
Performance, Trends, and Strategic Outlook Order backlog €M Strong demand momentum across core segments, supporting high revenue 416,6 visibility Order backlog of €709M | YoY Growth +50%| QoQ growth +19% | Book-to-Bill 1.5 191,6 Connectivity - Trend: Structurally growing 153,5 137,1 Structural growt
Slide 6: 2025 Q4 Highlights
2025 Q4 Highlights ▪ Revenue: 233.9, 45.7 % (160.5) ▪ EBIT: 22.5, 90.7% (11.8) ▪ EBIT margin: 9.6% (7.4%) ▪ ROOC: 39.3% (18.0%) ▪ Cash Cycle Conversion days: 55 (106) ▪ Operating Cash flow: 18.0 (14.2) ▪ NIBD: -31.6 (113.5) ▪ NIBD/EBITDA: -0.4 (1.7) ▪ Net Gearing: -0.10 (0.06) ▪ Equity %: 42.4% (35.
Slide 7: 2025 Fourth quarter YTD Highlights
2025 Fourth quarter YTD Highlights ▪ Revenue: 738.4, 14.1 % (647.2) ▪ EBIT: 64.5, 35.2% (47.7) ▪ EBIT margin: 8.7% (7.4%) ▪ Operating Cash flow: 93.6 120% (43.7) ▪ Net Income: 43.8, 56.4% (28.0) ▪ EPS EUR 0.22, 57% (0.14) ▪ Proposed dividend: NOK 0.70 per share (0.35) *Performance measures expressed
Slide 8: Business sectors
Business sectors ▪ Revenue growth: Nordics & NA 23%, CEE 50% and Asia 6%. ▪ All sectors above 9% EBIT Margin ▪ No of employees 3090, increased with 678 from last year. Revenue Business Sectors Q4 2025 Q4 2024 Change 31.12.2025 31.12.2024 Change Nordics & North America 110.3 89.8 20.5 391.7 355.6 36.
Slide 9: Cash flow and working capital
Cash flow and working capital €M ▪ Cash flow from operating Cash Flow Q4 2025 Q4 2024 Change 31.12.2025 31.12.2024 Change activities at 18 €M (14.2 €M). Profit before tax 20.4 10.3 10.1 55.1 39.9 15.2 Depreciations 4.9 4.8 0.1 18.6 18.7 -0.1 ▪ Net working capital at 135.4 Change in inventory, accoun
Slide 10: Ratios
Ratios ▪ Net gearing and NIBD/EBITDA -0.1 and -0.4 ▪ Cash EUR 59 million was paid early January 2026 as part of the DeltaNordic transaction. Net gearing and NIBD /EBITDA adjusted for this is 0.1 and 0.3 ▪ Finance cost -2.1 (-1.5) Ratios 31.12.2025 31.12.2024 Change R3 NWC % sales 15.9 % 28.8 % -44.8
Slide 11: 2025 Q4 Key take-ways
2025 Q4 Key take-ways • Revenue of 233.7 up 45.6 % YoY (160.6). • Order backlog growth 50% YoY to 709.3 €M. Q4 Book-to-bill ratio: 1.5 • Defence & Aerospace revenue up 147% year-over-year with a 117% YoY increase in order back log over the quarter. • Non-Defense Sectors revenue up 14% year-over-year
Slide 12: 2026 Q1 Q&A
2026 Q1 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 –