Q3 2019 Kitron ASA Earnings Call Transcript
Good morning, and welcome to Kitron's first 3 quarters and Q3 results for 2019. I'm Peter Nilsson, CEO; and with me today Cathrin Nylander, CFO. We're coming to you live today from Kaunas, Lithuania, where we spent this week reviewing the Kaunas site and attending the Kitron Board meeting, which was held in Kaunas this week.
So looking into the third quarter and what's happened so far this year. We've had a strong revenue growth all year this year and really hitting the high point of 31% in the third quarter, just under 30% year-to-date, with strong growth in our Defence and Aerospace business as well as Offshore/Marine. The EBIT margin is at 5.4% for the quarter, with strong margin improvements in Norway and Sweden. Strong order backlog, with most of the contribution really coming from Defence/Aerospace and Marine/Offshore.
Our working capital has stabilized and we're seeing some improvements. This is one of our main focus areas for the next 6 months really to get this down and really releasing cash back to us. The component
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