Market conditions continue to improve
(Thomson Reuters ONE) -
The order intake increased by 12.9% compared with last year and reached NOK
406.7 million. Revenue amounted to NOK 411.1 million in first quarter of 2010, a
25.4 per cent decrease compared with the same period last year. First quarter
2009 reflects a phasing out of backlog before the impact of the recession. The
profit before tax was NOK 3.0 million (NOK 25.0 million). Cash flow from
operations was negative by NOK 31.7 million (NOK 35.0 million). The order intake
was NOK 406.7 million and the order backlog was NOK 783,5 million, an increase
of 12.9 and 7.1 per cent respectively.
Enclosed in pdf are the interim report and the presentation.
Key items
Figures in brackets refer to the first quarter of 2009 unless otherwise stated.
Positive order development
The order intake increased by 12.9 per cent to NOK 406.7 million (NOK 360.2
million). The order backlog at the end of the first quarter was NOK 783.5
million (NOK 731.9 million).
Expanding market coverage
The integration and set up of the new operations in Germany and China are
progressing according to plan.
Lower revenue
Revenue decreased by 25.4 per cent to NOK 411.1 million (NOK 550.7 million).
First quarter 2009 reflects a phasing out of backlog before the impact of the
recession.
Operating profit
EBITDA and EBIT were NOK 13.4 million (NOK 43.5 million) and NOK 5.9 million
(NOK 34.3 million) respectively. Restructuring costs of NOK 6.0 million related
to the Swedish operation in Karlskoga were charged to the profit and loss in
first quarter 2010. The Karlskoga operation showed a negative EBIT of NOK 14.0
million in the first quarter.
Profit before tax
Profit before tax amounted to NOK 3.0 million (NOK 25.0 million), which reflects
a margin of 0.7 per cent (4.5 per cent).
Weak cash flow
Cash flow from operations in the first quarter was negative by NOK 31.7 million
(NOK 35.0 million) mainly due to working capital changes.
This information is subject of the disclosure requirements acc. to §5-12 vphl
(Norwegian Securities Trading Act)
[HUG#1412310]
Presentation Q1 2010: http://hugin.info/197/R/1412310/364533.pdf
Kitron Q1 2010: http://hugin.info/197/R/1412310/364532.pdf
Unternehmensinformation / Kurzprofil:
Datum: 06.05.2010 - 08:33 Uhr
Sprache: Deutsch
News-ID 20381
Anzahl Zeichen: 0
contact information:
Town:
Oslo
Kategorie:
Business News
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