Kitron Asa · OSL:KIT
Kitron Asa — Q2 2025 Earnings Presentation
14 slides from Kitron Asa's earnings presentation, Jul 11, 2025
Slide 1: 2025 Q2 Presentation
2025 Q2 Presentation Kitron Group | 2025-07-11
Slide 2: Quarter highlights
Quarter highlights Strong start to 2025 • Solid performance in Q2 driven by momentum in key sectors. • Order backlog growth 12% YoY to 509 €M . • Defence & Aerospace revenue up 25% year-over-year. Q2-2025 Performance • Q2: REVENUE 172.2 €M; EBIT 15.0 €M; EBIT margin 8.7% • Strong Cash Flow in the qu
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 Q2
Sector trends Q2 Revenue per sector €M 47.3 46.2 Connectivity: Q2 Growth: +1%, YTD Growth: –2% 44.1 40.3 38.5 37.0 Mixed Performance: Growth in industrial IoT gateways, container tracking devices, and 29.7 29.3 sensor-based platforms. Declines in legacy geostationary communication tech and tracking
Slide 5: Order Backlog Review
Order Backlog Review Order backlog €M Performance, Trends, and Strategic Outlook 237.1 Connectivity: Industrial IoT and surveillance technologies are rebounding but declines in U.S.-focused construction equipment tracking—impacted 162.7 145.1 by trade uncertainties. 123.5 Electrification: Notable de
Slide 6: 2025 Q2 Highlights
2025 Q2 Highlights ▪ Revenue: 172.2, 2.7 % (167.6) ▪ EBIT: 15.0, 0.0% (15.0) ▪ EBIT margin: 8.7% (8.9%) ▪ ROOC: 23.0% (22.3%) ▪ Cash Cycle Conversion days: 104 (112) ▪ Operating Cash flow: 19.3 (18.8) ▪ NIBD: 96.0 (122.8) ▪ NIBD/EBITDA: 1.4 (1.6) ▪ Net Gearing: 0.46 (0.65) ▪ Equity %: 36.3% (33.9%)
Slide 7: Half year Highlights
2025 Half year Highlights ▪ Revenue: 336.8, -1.4 % (341.4) ▪ EBIT: 27.5, 7.8% (25.5) ▪ EBIT margin: 8.2% (7.4%) ▪ Operating Cash flow: 31.4 (27.3) ▪ Net Income: 17.6, 4.1% (16.9) ▪ EPS (EUR): 0.09 (0.09) *Performance measures expressed in €M 7
Slide 8: Business sectors
Business sectors Revenue Business Sectors Q2 2025 Q2 2024 Change 30.06.2025 30.06.2024 Change 31.12.2024 Nordics & North America 96.0 94.1 1.9 189.7 186.1 -90.1 355.6 ▪ All Business sectors grew sequentially CEE Asia 56.7 22.3 50.7 24.8 6.0 -2.5 108.2 43.4 112.6 47.4 -55.9 -25.1 205.7 95.7 Group and
Slide 9: Cash flow and working capital
Cash flow and working capital €M Cash Flow Q2 2025 Q2 2024 Change 30.06.2025 30.06.2024 31.12.2024 Profit before tax 12.7 12.6 0.1 22.7 21.2 39.9 Depreciations 4.5 4.6 -0.1 9.2 9.3 18.7 ▪ Cash flow from operating activities Change in inventory, accounts receivable, contract at 19.3 €M (18.8 €M). ass
Slide 10: Ratios
Ratios ▪ Net gearing and NIBD/EBITDA 0.46 and 1.4 ▪ Finance cost -2.3 (-2.4) ▪ Dividend paid in Q2 of 6 €M Ratios 30.06.2025 30.06.2024 Change 31.12.2024 R3 NWC % sales 26.8 % 28.4 % -5.6 % 28.8 % R3 ROOC % sales 23.0 % 22.3 % 3.1 % 18.0 % R3 Cash Cycle Conversion 104 112 -8 106 Net Interest bearing
Slide 11: Q2 Key take-ways
2025 Q2 Key take-ways • Revenue of 172.2 up 2.7 % YoY (167.6) • Order backlog growth 12% YoY to 509 €M . • Defence & Aerospace revenue up 25% year-over-year with a 46% YoY increase in order back log. • Non-Defense Sectors strengthening outlook for second half • New defense tech is creating substanti
Slide 12: Q2 Q&A
2025 Q2 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 –
Slide 14: Kitron has received an order valued at EUR 11 million to produce advanced military
Kitron has signed an agreement covering manufacturing Kitron has received an order valued at EUR 11 million services for a new generation of high-performance drive to produce advanced military communication modules used in automation and motion control systems. Valued at EUR 7 million annually produ