Kitron — Earnings Release 2022

Dec 8, 2022

Kitron lifts financial outlook for 2022

Kitron lifts financial outlook for 2022

(2022-12-08) Kitron updates its financial outlook due to strong demand and

further easing of supply constraints.

At this point, Kitron raises its full-year 2022 revenue outlook to between NOK

6 450 and 6 550 million. Operating profit (EBIT) is expected to be between NOK

440 million and 470 million.

In its third-quarter report, Kitron increased the 2022 revenue outlook to an

interval of NOK 6 200 to 6 400 million, while the interval for operating profit

(EBIT) at the time was increased to NOK 390 to 430 million.

On 13 December, Kitron will host a Capital Markets Presentation to provide

further information on the financial outlook as well as longer-term strategic

and financial ambitions.

The event will start at 09:00 CET and last for approximately two hours. To

register in advance for the physical event, please send an email to:

investorrelations@kitron.com

There will also be a live webcast at the following link:

https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20221213_1

For further information, please contact:

Peter Nilsson, President and CEO, tel. +47 94 84 08 50

Cathrin Nylander, CFO, tel: +47 900 43 284

E-mail: investorrelations@kitron.com

Kitron is a leading Scandinavian electronics manufacturing services company for

the Connectivity, Electrification, Industry, Medical devices and

Defence/Aerospace sectors. The group is located in Norway, Sweden, Denmark,

Lithuania, Germany, Poland, the Czech Republic, India, China and the United

States. Included the acquisition of BB Electronics in January 2022, Kitron has

about 2 800 employees, and pro forma revenues were about NOK 5 billion in 2021.

Inside information

This information is considered to be inside information pursuant to the EU

Market Abuse Regulation and is subject to the disclosure requirements pursuant

to section 5-12 the Norwegian Securities Trading Act. This stock exchange

announcement was published by Cathrin Nylander, Chief Financial Officer at

Kitron ASA on behalf of the Company on the date and time set out above.

Important information

Matters discussed in this announcement may constitute forward-looking

statements. Forward-looking statements are statements that are not historical

facts and may be identified by words such as "believe", "expect", "anticipate",

"strategy", "intends", "estimate", "will", "may", "continue", "should" and

similar expressions. The forward-looking statements in this release are based

upon various assumptions, many of which are based, in turn, upon further

assumptions. Although Kitron believes that these assumptions were reasonable

when made, these assumptions are inherently subject to significant known and

unknown risks, uncertainties, contingencies and other important factors which

are difficult or impossible to predict and are beyond its control.

The information, opinions and forward-looking statements contained in this

announcement speak only as at its date, and are subject to change without

notice. Kitron undertakes no obligation to review, update, confirm, or to

release publicly any revisions to any forward-looking statements to reflect

events that occur or circumstances that arise in relation to the content of this

announcement.

This announcement is for information purposes only and is not to be relied upon

in substitution for the exercise of independent judgment. It is not intended as

investment advice and under no circumstances is it to be used or considered as

an offer to sell, or a solicitation of an offer to buy any securities or a

recommendation to buy or sell any securities of Kitron.