ATH eller deromkring på en dag som denne. Kitron har mulighet til å tilpasse produksjonen sin for å redusere virkningen av handelskrigen. Har produksjon i alle handelsblokkene.
Fra sliden over:
“Transfer of production from the Nordics to the US for US end-user products”
Ble en bra dag, skal sies at den stanger i tidligere motstand
Oppdatert:
Fremdeles sterk etter en uke med finansiell kriminalitet
Om den bryter motstanden, hvordan vet man når neste motstand kommer? Er det mulig å forutse, eller må man bare se det an og vurdere handlingsmønstret?
Edit Ca 20 kroner opp
Oppgangen fortsetter i påsken. Opp over 50 % nå i hittil i år…
Er det denne som setter fart på kursen i dag? Altså med eller mindre autogenerert KI-analyse av diverse selskaper hvor Kitron nå kommer heldig ut.
Overview: Kitron ASA is an electronics manufacturing services provider operating in multiple countries including Norway, Sweden, and the United States, with a market cap of NOK9.60 billion.
Operations: The company generates revenue of €647.20 million from its Electronics Manufacturing Services (EMS) segment.
Estimated Discount To Fair Value: 41.2%
3 European Stocks Estimated To Be Up To 44.5% Below Intrinsic Value
Jeg tipper det er Washington sin lekket dokument om at trump trekker støtten til NATO?
Det var forhåpentligvis en mer sannsynlig forklaring!
Meget interessant intervju på hjemmesiden til Kitron. Spesielt punktet om India har gått meg litt hus forbi med planene videre der som virker å nærme seg
"We’re in a unique position compared to competitors. Despite being a mid-sized company, we operate 10 manufacturing sites globally, giving us the flexibility and responsiveness that larger companies often struggle with.
Kitron has been moving products between our sites for years. That experience gives our customers peace of mind, knowing that if anything happens, we can shift production quickly and efficiently."
nice
Bra marginer og ordrebok, og godt posisjonert for forsvar, her blir det mye å gjøre fremover. Bedre enn note incap etc på denne fronten.
“Fem av våre strategisk posisjonerte anlegg har betydelig
erfaring innen forsvar og luftfart, noe som gir mulighet for rask skalering
etter som etterspørselen øker. I tillegg blir ytterligere et EU-anlegg for tiden
akkreditert”
Er vel kanskje greit med en liten avkjøling og sell the news etter gode 94% oppgang fra absolutte bunn til absolutte topp.
Er en del proffer som har gått glipp av enorme oppsider her.
Det sier jo noe om at man som trendfølger ikke har så lett for å identifisere når en bunn er.
Var vel på dette tidspunkt sent på året i fjor man begynte å tenke friskmelding av aksjen.
Full rappot hos Norne.
Slower start, but a solid foundation
Kitron delivered its 1Q25 figures yesterday. The figures themselves were weaker vs. our and consensus estimates, but broadly stronger QoQ and YoY. Defence & Aerospace saw strong growth YoY and Industry picked up in 1Q while other sectors performed worse. Although results fell short of expectations, the order backlog continues to improve. We still think that the company has more to offer, therefore, we reiterate Buy recommendation at a higher NOK 60/sh. Target Price.
Good results on relative terms, not quite at the expected level just yet
Revenues saw a 2.5% QoQ growth but declined by 5% YoY. Overall, the latest revenue figures did not meet either our or consensus estimates. EBIT margin of 7.6% is an improvement compared to last year’s figures, but more substantial gains were projected. It is the same story with the bottom line – it has improved both QoQ and YoY, but not quite up to the expected level.
Order backlog growth continued
Order backlog was EUR 525m at the end of the quarter, growing on the back of EUR 472m figure at the end of 4Q. The key driver was the Defence and Aerospace segment once again, showing an increase of order backlog of 79% YoY and increasing the most on absolute terms, while other areas remained down YoY. When comparing QoQ figures across the board, they show more modest changes, further signalling stabilization. We find the D&A backlog growth not surprising, given that most press releases for the company lately seem to be defence-related. Defence & Aerospace contribution to the total backlog now stands at 45%, compared to the historical average of 30%. This is materializing into revenue terms as well, with the D&A sector being the only one to have better revenue figures both on a quarterly and yearly basis.
Improved 2025 guidance
As communicated in the run-up to the report, Kitron’s 2025 outlook has been improved to be between EUR 640-710m (previously EUR 600-700m). EBIT is anticipated to land in the range of EUR 47-65m (previously EUR 42-63m).
Decent report leads to a more down-to-earth near-term outlook
All in all, Kitron’s 1Q25 report was weaker when compared to probably over-optimistic forecasts driven by the European defence spending euphoria. Therefore, even though we have adjusted our estimates somewhat downwards, it should not distract from the main idea. Figures and order backlog are improving compared to the previous year, laying the base for stronger results not only this year, but also in the long-term.
Buy recommendation reiterated at NOK 60/sh. Target Price
Given the increasing orderbook figures and significant potential of the Defence & Aerospace segment, alongside Kitron’s reiterated expectations of strength returning to most other segments by the end of the year, we reiterate our Buy recommendation at a higher NOK 60/sh. Target Price.
