Kitron 2022: a year in review

Kitron 2022: a year in review

13 February 2023 We are Kitron

Wrapping up the year by sharing what we've done has become a tradition. It's a way to celebrate our success and accomplishments, reflect on the lessons learned, and motivate ourselves for the coming year. It's a great way to look forward to the future.

As of today, we are already a team of 2800 employees spread over 10 countries and 100 000 sq. m of manufacturing area! Through the acquisition of BB Electronics, many new talents joined us. The focus of our efforts is very clear: respond to our customers' demands, grow organically, and expand.

2022 was special – it marked the 60th anniversary of Kitron. It was an opportunity to recognize the hard work and dedication of our employees and the partnerships with our customers. Thanks to each member of our extraordinary team, we can proudly say #WeAreKitron!

Powered by strong customer demand, 2022 became a record-breaking year for turnover and growth. We had the privilege of serving some of the world's leading companies and growing our presence in new geographies. With this success, we are now firmly positioned to continue our growth into 2023 and beyond.

Here are some of the other things we achieved last year.

Contribution to the community

We are very appreciative of the generous contributions of our team. The same was true in 2022. For example, Kitron Lithuania participated in Kaunas Clinics Blood Center's one-day blood donation campaign. The help of blood donors is especially critical - you'd be surprised at how many lives you can save with just one donation.

We also supported Breast Cancer Awareness Month in October with our teams from Norway and the US. They joined the Pink Ribbon Race to raise awareness and owe their support to the community by organizing several fundraising events. The month of October is all about compassion and helping others. It was inspiring to see our Kitron US colleagues participate in ending childhood hunger too. As part of the Cambria County Backpack Project (CCBP), they will provide food for five kids for an entire year!

Those are just a few of the many things we've done around Kitron. It feels like a tradition to us that our colleagues give back to the community each year in various ways and efforts. We take pride in the fact that we are able to give back to our community, and we look forward to continuing this tradition for years to come.

Kitron sites around the world

As a global team, we are proud of the growth and expansion we experienced in 2022. To begin with, we celebrated an incredible milestone for Kitron Sweden. Eight people marked their work anniversaries...of 40 years! What an amazing occasion!

Moreover, a group of our colleagues from Kitron Lithuania implemented a life-saving idea - they learned how to give truly qualified first aid. Now, they have a specially trained person on every shift. Also, the facility is additionally equipped with a special first aid kit, including a life-saving cardiac starter, so that any person can be appropriately treated until paramedics arrive. Therefore, the Kitron Lithuania team continues to go the extra mile to make sure their work environment is safe - both today and in the future.

How about the fact that Kitron had Norway's most active corporate team in 2022? Out of the 7629 teams registered, the Kitron Norway team "Stronger than all" won 1st place in the "Cycling to work" competition. Their success highlights Kitron's commitment to promoting health and well-being among its employees, and the importance we place on making its corporate culture an inclusive one.

Keeping up with sports, did you know Kitron Sweden has several ice hockey players? As a matter of fact, they combine working at Kitron with their passion for sports. We had our fingers crossed because one of them played for Sweden's national women's hockey team at the Beijing 2022 Winter Olympics! How amazing is that?

We at Kitron are committed to quality. This commitment is reflected in everything we do - from the products we create to the customer service we provide. During August, Kitron China colleagues decided to dedicate all month to continuous improvement. All employees were encouraged to improve even the smallest aspects of their own work processes. This month-long initiative was designed to help foster a culture of quality and excellence among our team and to help ensure that all of our products are of the highest possible quality. The results of this effort were inspiring, and we look forward to continuing this culture of quality and improvement in the future.

Besides that, we had more great news - Kitron Poland turned 3! Currently, Kitron Poland has a professional staff of more than 200 people in an 8000-square-meter factory. As demand grows, plans are in place to ramp up activity and expand capacity. As such, Kitron Poland has seen tremendous success in its three years of operations, providing high-quality services and products to our customers. Stay tuned!

Among the most exciting news of 2022 was the Great Place to Work® certification for Kitron China, Lithuania, Norway, and Poland! There is nothing more important to our success than having a strong culture where we can trust and enjoy the people we work with. This certification is proof that Kitron has created a workplace environment where employees feel safe, valued, and respected. It is a great credit to the hard work and dedication of our team. It will continue to be a major source of pride for us in the years to come.

All in all, we're so proud of our team for making tremendous progress in 2022 - they worked hard, helped the community, played sports together, enhanced teamwork, and were recognized as such! Their activities are proof of their dedication and positive attitude - a true example of how teamwork and strong values can lead to amazing accomplishments!

Strong growth: new businesses and expansions

We must begin with the acquisition of BB Electronics. It was certainly the highlight of the year. This acquisition opened the door to a number of opportunities that allowed us to fuel our strong growth and expand our operations. The match is excellent, and we look forward to executing our growth strategy together!

Additionally, we signed a long-term production agreement with Kongsberg Defense & Aerospace AS for electronic modules for KONGSBERG's remote weapon station system (RWS). The collaboration between Kitron and KONGSBERG has taken place since the 1980s and affected the entire range of services that Kitron provides. Through this agreement, we are reaffirming our strong commitment to the partnership between Kitron and KONGSBERG, which has enabled us to deliver world-class products and services for decades.

The great news continues - Kitron has also entered into a production agreement with Ferroamp, a rapidly growing Swedish green tech company. “During the supplier evaluation phase, we were met by a dedicated team in Poland. The combination of their experience, focus on sustainability, and overall commitment made the choice of supplier easy. The people are the key factor for success. Together with the team at Kitron, we have made great progress so far and are just at the beginning of our common journey. I am really looking forward to the future and what it will bring!” – shared the Chief Purchasing Officer at Ferroamp Lisa Larsson Lerner. Electrification is a rapidly growing market sector, and Kitron has been investing heavily in meeting that demand for a few years now. This partnership will be instrumental in driving the green revolution forward, allowing more people to take part in the electrification of their lives.

2022 was a very productive year. We achieved many goals that have set us up for success going forward. In addition, we have laid the groundwork for continued growth and progress. Despite our success, we remain committed to pushing the boundaries of progress and challenging ourselves to reach even greater accomplishments in the years to come.

Keeping our promises to the environment

Environmental protection is an integral part of our business. In 2022, we continued our commitment to protecting the environment and making sure it remains a top priority in all aspects of our business. We are dedicated to seeing this commitment through, taking proactive steps to ensure a sustainable future. Having these efforts recognized is a great honor.

The first amazing fact is that Kitron China started using 100 % green energy in 2022. This was one step forward toward a modern, clean energy future - we are so proud of our team! It is a significant turning point in the transition to renewable energy and a great example of environmental responsibility.

We were included in the OBX ESG Index, which was launched by Euronext! This index includes 40 of Norway's most sustainable, socially responsible, and ethical blue-chip companies. Recognition of our commitment to social responsibility and sustainable business practices is an honor and an example of our dedication to sustainability principles.

ESG100 also rated and selected us among the top 100 listed companies in Denmark, Norway, and Sweden! This rating means good reporting that covers important issues. It also includes having a materiality assessment based on a recognized reporting standard and providing some specific, quantifiable targets. This rating is a demonstration of the commitment of Kitron to provide comprehensive reporting and meaningful goals to ensure our stakeholders are kept informed.

Additionally, for the second consecutive year, we have received a "Silver" sustainability rating medal from EcoVadis! This rating put us in the TOP 25 per cent of companies worldwide. We began using EcoVadis as a Business Sustainability Rating provider in 2021 to strengthen sustainability management further. We are proud to be a part of this partnership and look forward to continuing our work with EcoVadis, achieving more sustainability goals.

Our sincere thanks go out to all our employees, customers, partners, and followers who have made this year so successful! All of our accomplishments in 2022 have been due to the teamwork and dedication of our team and partners. We are grateful for the hard work and determination that everyone has put in to make our success a reality.  With that in mind, we remain committed to delivering excellence in all aspects of our business, striving to make every year even better than the last.

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