Kitron

Q2 2014 - Strong order intake, profitability still challenging - Seite 2

New CEO appointed
Peter Nilsson is appointed new CEO of Kitron ASA and will take up his position in November 2014 at the latest. Peter Nilsson has held several senior and executive leadership positions for Swedish and US companies: PartnerTech, Rimaster, Sanmina, and Ericsson, latest as President, Electronics Technology Division, at PartnerTech AB.

Outlook
Kitron expects a positive development in the Swedish and German markets, with growth for the factories in Sweden and Lithuania. Growth is also expected in China and the US, whereas a lower volume is expected in the Norwegian operation.

Kitron expects growth in revenue in 2014, partly explained by development in foreign exchange. The growth has been significant in the first half of the year, while the expectations for the second half of 2014 are closer to the level in 2013.

In spite of revenue growth, profitability is not satisfactory for the first half year and actions are initiated to rectify the situation and target improved profitability.

Enclosed in pdf are the quarterly report and the presentation.

The interim report is presented at 14:00 CEST at Kitron ASA's head office, Olav Brunborgs vei 4, Billingstad.

The presentation will be given in English by interim CEO Dag Songedal and CFO Cathrin Nylander and will be distributed through webcast at the same time at the following link: http://webtv.hegnar.no/presentation.php?webcastId=19370853

For further information, please contact:
Dag Songedal, interim CEO
Tel: [phone] or e-mail: [e-mail]

Cathrin Nylander, CFO
Tel: [phone] or e-mail: [e-mail]

Kitron is one of Scandinavia's leading electronics manufacturing services companies for the Defence, Energy/Telecoms, Industry, Medical equipment and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, China and the United States. Kitron had revenues of about NOK 1.6 billion in 2013 and has about 1,200 employees. www.kitron.com

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kitron Presentation Q2 2014
Kitron Report Q2 2014

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kitron ASA via Globenewswire

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