BILLINGSTAD, NORWAY – Kitron's revenue for the fourth quarter was €160.6 million ($167.5 million), down 19.3% from 2023's fourth quarter.

"2024 was a year of decisive action and resilience," said CEO Peter Nilsson. "While we faced headwinds in some markets, our commitment to efficiency and strong execution led to successful restructuring efforts during the first quarter. Although de-stocking continues to affect some sub-sectors, we expect that most of this should be cleared up by mid-2025. In January 2025, the order backlog grew further to EUR 505 million. With an optimized operational base, strategic contract wins, an aggressive stance on M&A, and market recovery on the horizon, Kitron is well-positioned to deliver on growth and profitability."

Looking to 2025, the company expects revenue between €600 million and €700 million ($626 million to $730 million).

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