Logon details for the webcast will be available one week before the event.
|Years||Revenues||Operating profit||Net profit||Net cash flow from operating activities||Net cash flow from investing activities||Order intake||Order backlog||Total equity||Equity ratio||Employees|
Kitron’s annual report for 2019 was published on 30 March 2019 and described another year of progress, revenue growth and improved margins for Kitron.
|2018||Annual Report 2018 - PDF|
|2017||Annual Report 2017 – PDF|
|2016||Annual Report 2016 – PDF|
|2015||Annual Report 2015 – PDF|
|2014||Annual Report 2014 – PDF|
|2013||Annual Report 2013 – PDF|
|2012||Annual Report 2012 – PDF|
|2011||Annual Report 2011 – PDF|
|2010||Annual Report 2010 – PDF|
|2009||Annual Report 2009 – PDF|
|2008||Annual Report 2008 – PDF|
|2007||Annual Report 2007 – PDF|
|2006||Annual Report 2006 – PDF|
|2005||Annual Report 2005 – PDF|
Kitron’s corporate governance principles clarify the division of roles between shareholders, the board of directors and corporate management. The principles are also intended to help safeguard the interests of shareholders, employees and other stakeholders, such as customers and suppliers, as well as society at large. The primary intention is to increase predictability and transparency and thereby reduce uncertainties associated with the business.
It is Kitron’s intent to practice good corporate governance in accordance with laws and regulations and the recommendations of Oslo Børs under the ‘comply or explain’ concept. This review has been prepared by the board of Kitron based on Norwegian Code of Practice for Corporate Governance dated 17 October 2018 (“the Code”). The Code is available at www.nues.no/en/.
Kitron personnel are required to report immediately any suspected violation of Kitron’s Anti-Corruption Policy. Suspected violations can be reported to the employee’s manager, his/her manager’s manager, any member of the Ethics Committee, or through this e-mail: firstname.lastname@example.org. When using this e-mail your concerns will be sent to the head of the Ethics committee and dealt with confidentially.
Kitron will not implement sanctions in any form against any person who, in good faith and in a responsible manner, informs persons in positions of responsibility or internal entities about possible breaches of Kitron’s Anti-Corruption Policy or applicable laws. Kitron prohibits retaliation against anyone for making a good-faith report. All reports of suspected violations are taken seriously and will be followed up, as appropriate. Reports may be made anonymously.
Any manager, who receives a report of a suspected violation of anti-corruption laws and regulations, or Kitron’s Anti-Corruption Policy, must immediately notify the head of the Ethics committee.
The Annual General Meeting of Kitron was held on Thursday 23 April 2020 at 10:00 a.m. CEST at the head office of Kitron ASA, Olav Brunborgs vei 4, 1396 Billingstad, Norway.
|Nomination committee recommendation
|A mandate for the Nomination Committee
|The BOD Declaration on Executive Remuneration
|Article of association
The Annual General Meeting approved the proposed authorization to the board to resolve dividends on the basis of the annual accounts, cf. the Norwegian Public Limited Liability Companies Act section 8-2, second paragraph. The board of directors shall, when using the authorization, make its decision in accordance with the company’s approved dividend policy. The board of directors shall before each decision to approve the payment of dividends consider if the company, after the payment of dividends, will have sufficient equity and liquidity. The authorization is limited to a total amount of NOK 90 million and shall be valid until the next annual general meeting, but not beyond 30 June 2021
INCREASING THE SHARE CAPITAL
The ordinary general meeting of 23 April 2020 authorised the board to execute one or more share capital increases by issuing a number of shares maximized to 10 per cent of Kitron’s registered share capital at 23 April 2020. The total amount by which the share capital may be increased is NOK 1 791 039.90. The authority applies until the ordinary general meeting in 2021 but no longer than 30 June 2021. The authorization is limited to encompass capital requirements or issuance of consideration shares in relation to strengthening of Kitron ASA’s equity, acquisition of other companies or businesses, joint ventures or joint business operations, for remuneration to the members of the board of directors of Kitron ASA, for incentive schemes, and acquisition of property and business within Kitron ASA’s purpose.
The ordinary general meeting on 23 April 2020 authorised the board to acquire own shares for a total nominal value of up to NOK 1,791,039.90 which is equal to 10 per cent of Kitron’s registered share capital at 23 April 2020. The authorization also includes contract liens in the shares of Kitron ASA. Under this authorization the board of directors may pay minimum NOK 1 per share and maximum the prevailing market price per share on the day the offer is made, provided, however, that the maximum amount does not exceed NOK 25 per share. The authority is valid until the ordinary general meeting in 2021 but no longer than 30 June 2021.
On 18 March 2020 Kitron presented a webcast update on the company’s operations and progress towards the strategic and financial targets and ambitions presented at last year’s Capital Markets Day.
The presentation was hosted by CEO Peter Nilsson and other members of group management. The webcast was followed by a Q&A conference call.
|Date||Presentation||Q&A session transcript||Webcast|
According to our information the following analysts cover Kitron on a regular basis:
President & CEO
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