The profit before tax in 2007 was NOK 63.4 million compared to NOK 45.4 million in 2006, and is the best result since the group was established in 2000. Revenue amounted to NOK 551.3 million in the fourth quarter of 2007, representing 7.1 per cent increase over the same period in 2006. Year on year, revenue grew 14.4 per cent to NOK 1 937.8 million. Profit before tax was NOK 18.0 million in the quarter, which was in line with fourth quarter in 2006.

Enclosed in pdf are the interim report and the presentation.

11 February 2008
Kitron ASA

Key items
Figures in brackets refer to the fourth quarter of 2006 unless otherwise stated.

Best result since 2000
The profit berfore tax in 2007 was NOK 63.4 million (NOK 45.4 million in 2006) and is the best result since the group was established in 2000.

Revenue growth (7.1 per cent in the quarter, 14.4 per cent in the year)
NOK 551.3 million in the quarter and 1 937.8 million in 2007 (NOK 514.8 million in the quarter, NOK 1 693.6 million in the year).

Stable profit before tax
NOK 18.0 million (NOK 18.1 million). Profit before tax amounted to 3.3 per cent (3.5 per cent) both for the quarter and for the full year (2.8 per cent for the full year 2006).

Reduced gross margin
Normalised gross margin was 39.2 per cent (40.1 per cent) excluding one-off charges. The normalised gross margin for the year has been reduced from 40.0 per cent in 2006 to 38.7 per cent in 2007 due to variations in relative growth between business areas and product mix variations.

Operating profit slightly reduced
EBITDA and EBIT were NOK 31.6 million (NOK 32.5 million) and NOK 22.8 million respectively (NOK 23.9 million).

Good order intake
The order intake in the quarter increased by 18.8 per cent to NOK 589 million (NOK 496 million). The order backlog at the end of the quarter and year was NOK 914 million (NOK 959 million).

Strong cash flow from operations
Cash flow from operations in the fourth quarter was NOK 123.1 million (NOK 139.6 million). Cash flow from operational activities in the year was NOK 78.5 million (NOK 9.6 million).