Kontron AG Reports Strong Annual Performance as a Dedicated IoT Company

Kontron AG announced a significant financial achievement for the fiscal year 2023, marking another milestone year by focusing solely on Internet of Things (IoT) solutions. The company reported revenues of EUR 1,226 million, showing an increase of 15% compared to EUR 1,064 million in 2022. This growth is primarily attributed to their strategic pivot towards IoT, underscored by a series of strategic acquisitions aimed at enhancing their technological capabilities.

The net profit stood at EUR 77.7 million, surpassing the company's forecasts. Operating Cash Flow witnessed a dramatic rise, reaching EUR 116.9 million, up by 163% from the previous year's EUR 44.4 million. The order backlog saw a significant uptick, increasing by EUR 226 million to reach EUR 1,686 million.

Following its divestiture from the IT service business in 2022, Kontron has made a remarkable leap in the IoT domain, exemplified by the acquisition of major players like Comlab, Telit, Bsquare, and Hartmann W-IE-NE-R, and more recently, the Katek Group with its GreenTec Division. This move not only solidifies Kontron's commitment to IoT but also ventures into environmental technology.

Looking ahead, Kontron is optimistic about 2024, projecting revenues of at least EUR 1.9 billion and a net profit of approximately EUR 100 million. CEO Hannes Niederhauser expressed enthusiasm over the company’s trajectory, highlighting the upcoming product innovations like KontronOS and KontronGrid as key growth drivers.