BILLINGSTAD, NORWAY – Kitron today reported first-quarter revenue fell 5% year-over-year to EUR 164.6 million ($187.4 million).

Continued momentum in the defense and aerospace market boosted a 2.5% rise in sequential sales.

Order backlogs at quarter's end were EUR 524.6 million, compared to EUR 445 million a year ago. It is the fourth quarter in a row backlogs grew.

Operating profit (EBIT) was EUR 12.5 million, up from EUR 11.8 million in the fourth quarter and EUR 10.6 million a year ago. EBIT margin was 7.6%, compared to 7.3% in the fourth quarter last year and 6.1% in the first quarter last year. Net profit rose 15% amounted to EUR 7.6 million.

“We delivered a strong start to 2025, driven by significant growth in Defense & Aerospace, contributing to an 11% sequential rise in our order backlog," said Peter Nilsson, CEO, Kitron. "Key strategic orders totaling EUR 76 million from customers such as Kongsberg Defence & Aerospace and Thales strengthen our industry partnerships. Five of our strategically positioned sites have significant Defense & Aerospace experience, enabling rapid scalability as demand increases, with an additional EU site currently being accredited. Despite global tariff uncertainties and cautious short-term market dynamics, our flexible operational strategy positions us confidently for continued growth.”

For 2025, Kitron expects revenues between EUR 640 million and 710 million. Operating profit (EBIT) is expected to be between EUR 47 million and 65 million. This is unchanged from the company guidance on April 2.