Q2 2022 Kitron ASA Earnings Call Transcript
Welcome to Kitron's Second Quarter 2022 and Half Year Report. I'm Peter Nelson, CEO of the Kitron Group. And joining me today is Ms. Cathrin Nylander, CFO. (Operator Instructions).
So let's kick off the review. Some of the highlights in the quarter. Revenue in the quarter was record high, reaching close to NOK 1.6 billion, with a growth of close to 60% compared to the previous year. The SEK 1.6 billion of sales generated over NOK 100 million in operating profits. EBIT margins showed a strong improvement compared to the first quarter 2022, but continue to be under pressure from cost increases and some inefficiencies driven by uneven incoming supply chain.
Order levels continue very strong for '22 and 2023. This has led to an increase of inventories and effective cash flow. We expect the reduction of net working capital as a percentage of revenue as improvement programs deliver further efficiencies.
Next slide, please, slide 3. Taking a look at the marketed operations. As I said, demand continues to be very strong in all
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