Kitron ASA Adjusts 2024 Revenue Outlook Amidst CEE Challenges

Kitron ASA (GB:0F0J) has released an update.

Kitron ASA has revised its 2024 full-year outlook downwards, citing reduced and postponed demand in Central and Eastern Europe, impacting its Electrification and Industry sectors. The company anticipates third-quarter operating revenues of 140 to 150 million euros and a full-year revenue forecast of 635 to 660 million euros, including restructuring costs. To address the imbalance, Kitron plans to transfer products from the CEE to Nordic facilities, where demand remains strong.

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