Q4 2023 Kitron ASA Earnings Call Transcript
Good morning, everyone, and welcome to Kitron's fourth quarter report for 2023. I'm Peter Nilsson, CEO of the Kitron Group and joining me, as usual today 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.
Thank you. Next slide, slide 2, please. In the final quarter of 2023, we continued our streak of growth with record sales in the quarter of over EUR199 million that's a robust 14% increase from the same period previous year.
Our EBIT was EUR18 million, a growth of 13.5% from last year. Cash flow has been strong this quarter with a cash flow close to EUR35 million. Return on operating capital is stable on just under 27%, with a cash type of conversion improving from 100 days to 95 days. Furthermore, our net interest bearing debt to EBITDA ratio has been reduced from 2.6 to 1.5, another strong improvement. In Q4, we saw a decline in the order backlog of almost 15% to 496 million (sic â see slide 4,"493.6 million").
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