Q1 2024 Kitron ASA Earnings Call Transcript
Good morning, and welcome to Kitron's first quarter report for 2024. I'm Peter Nilsson, CEO of the Kitron Group. And joining me, as usual is Ms. Cathrin Nylander, CFO. Following today's brief presentation, we'll have a Q&A, so please post any questions you may have in the Q&A section of the webcast. Thanks. Next slide, please, slide 2.
Let's start by reviewing the current market sentiment. The Nordic and US operations show positive momentum, mainly driven by increased demand in defense and aerospace sectors, along with some strong demand from subsectors of electrification and industry.
We expect some 20% growth for Norway, Sweden, and the US. However, the broader market environment is challenging, leading us to revise our full-year outlook down, some 12%. We project a slower than anticipated market recovery, along with extended destocking activities by our customers. After a remarkable growth in 2023, CEE, Central Eastern Europe shows some declines in some 13% in Q1. Our current projection is that the CEE operations are facing 30%
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