Thales Norway Boosts Kitron's Defense Sector Position with NOK 46 Million Order

Kitron, a leading Scandinavian electronics manufacturing services company, has received a strategically important order from Thales Norway, valued at NOK 46 million (approximately US$5.5 million). This order, set to commence in the first quarter of 2026 and continue through the second quarter, will be produced at Kitron's plant in Arendal, Norway. The order is expected to strengthen Kitron's cooperation with Thales and contribute to securing its position in the defense sector.

The Norwegian defense industry is experiencing growth, with capital expenditure increasing at a CAGR of 7.63% from 2019 to 2023. This order aligns with the Norwegian Defense Ministry's plans to procure various defense systems and equipment, such as multirole fighter aircraft, search and rescue helicopters, armored vehicles, main battle tanks, cyber security, a joint strike missile (JSM) system, and submarines. The order also supports Kitron's focus on the defense/aerospace sector, allowing the company to leverage its expertise and resources to fulfill the order.

Heine Østby, Managing Director of Kitron Norway, stated, "This order is strategically important for Kitron. It strengthens our cooperation with Thales and contributes to securing our position in the defense sector." The order is expected to have a positive impact on Kitron's financial performance in 2026, contributing to the company's total revenue and potentially increasing its earnings before interest, taxes, depreciation, and amortization (EBITDA) or net income.

In addition to the financial benefits, the order brings strategic advantages to Kitron's defense sector position. Strengthening cooperation with Thales Norway opens the door to more opportunities for collaboration and potentially larger orders in the future. Securing a position in the growing defense market allows Kitron to benefit from this growth and aligns with the company's focus on the defense/aerospace sector. The order also provides a steady stream of revenue, with the potential for future orders or follow-on work.

In conclusion, the NOK 46 million order from Thales Norway is a significant opportunity for Kitron to strengthen its position in the defense sector, both financially and strategically. The order aligns with the growth trends in the Norwegian defense industry and supports Kitron's focus on the defense/aerospace sector. As Kitron continues to execute on this order and other defense projects, it is well-positioned to capitalize on the growing demand in the defense market.