Kitron: Publishing of Annual Report for 2019

(2020-03-30) The Board of Directors of Kitron ASA has approved the Annual Report for 2019.

As previously announced, due to the corona pandemic, the board will no longer propose the planned dividend of NOK 0.50 at the annual general meeting scheduled for 23 April.

Instead, it is proposed that the general meeting grants an authorization to the board to resolve dividends on the basis of the annual account for 2019.

Kitron has a solid financial platform. As stated in the company's financial update on 18 March, there is no major disruption to the company's business, and customer demand is so far not materially affected. Rather, the board's decision is due to limited visibility and in preparedness of expected volatility in the months to come. In this extraordinary and uncharted situation, the board considers it to be in the best interest of the company and its shareholders to await further market developments before deciding on a potential dividend.

Please refer to stock exchange notice dated 27 March 2020 for further details.

Apart from the change in proposed dividend, there are no changes from the preliminary financial figures for 2019 published on 13 February 2020.

The Annual Report is attached and is also published at www.kitron.com.

For further information, please contact:
Cathrin Nylander, CFO, tel: +47 900 43 284
E-mail: investorrelations@kitron.com 

Kitron is a leading Scandinavian electronics manufacturing services company for the Defence/Aerospace, Energy/Telecoms, Industry, Medical devices and Offshore/Marine sectors. The company is located in Norway, Sweden, Lithuania, Germany, Poland, China and the United States. Kitron had revenues of about NOK 3.3 billion in 2019 and has about 1 700 employees. www.kitron.com