(2009-08-12) Revenue amounted to NOK 427.0 million in the second quarter of 2009, which represents a 25.4 per cent decrease compared with the same period last year. The profit before tax and discontinued operations was negative by NOK 0.6 million, compared to a profit of NOK 40.6 million for the second quarter last year. Cash flow from operations was NOK -14.4 million compared to NOK 51.6 million in the same period last year. Before repayment of factoring debt the cash flow was NOK 32.2 million. The order intake was NOK 417 million and the order backlog was NOK 742 million, a decrease of 33.3 per cent and 26.3 per cent respectively.
Enclosed in pdf are the interim report and the presentation.
12 August 2009
Kitron ASA
Key items second quarter 2009
Figures in brackets refer to the second quarter of 2008 unless otherwise stated.
Cash flow
Cash flow from operations in the second quarter was negative with NOK 14.4 million (NOK 51.6
million). Before repayment of factoring debt the cash flow from operations was 32.2 million.
Strong solidity
The equity ratio continued to improve and reached 46.9 per cent in Q2 (28.2 per cent).
Revenue decline
Revenue decreased by 25.4 per cent to NOK 427.0 million (NOK 572.1 million).
Decrease in operating profit
EBITDA and EBIT were NOK 11.3 million (NOK 57.5 million) and NOK 2.9 million respectively
(NOK 46.7 million).
Loss before tax
Loss before tax and discontinued operations amounted to NOK 0.6 million (2008: profit by NOK 40.6 million), which reflects a margin of 0 per cent (7.1 per cent).
Order intake and backlog
The order intake decreased by 33.3 per cent to NOK 417 million (NOK 625 million). The order
backlog at the end of the second quarter was NOK 742 million (NOK 1 007 million).