Q3 2022 Kitron ASA Earnings Call Transcript
Welcome to Kitron's Third Quarter Report 2022. 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. Thank you.
So let's kick off the review. Next slide, please, Slide 2. Despite vacations in the Nordics, where we find most of our customers, Q3 delivered the highest sales and operating profit ever for the Kitron Group. Revenue in the quarter was at a record high, reaching NOK 1.66 billion, with a growth over 100% compared to previous year. The NOK 1.66 billion generated over NOK 116 million of operating profits and an EBIT margin of 7%. The quarter came in above expectations in almost all market sectors. Industrial automation products delivered the most revenue growth and was 50% higher than expected.
Defence and Aerospace revenues were higher than last year, but lower than expected. This market sector still is highly affected by supply constraints.
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