LINZ (dpa-AFX) - The technology group Kontron expects further growth in revenue and profit for the current year. The company, which focuses on the Internet of Things (IoT), is likely to exceed its forecast for 2023 thanks to a robust final spurt. Group CEO Hannes Niederhauser sees his strategy of focusing entirely on IoT confirmed.

The share started trading on Monday with a price increase of more than three percent before the gains dried up slightly. The stock is currently still up 2.8%, making it one of the big winners in a weak stock market. In the past 12 months, the share price has risen by around a third, after the company had already raised its forecast twice in 2023.

Hauck Aufhäuser Investment Banking continues to rate the Kontron share as a "buy". Analyst Tim Wunderlich noted that the fact that the company has exceeded its repeatedly raised targets underpins its conservative approach. The first 2024 target should also prove to be conservative and could be raised in the course of the year. The experts at Pareto Securities explained that the forecast for the current year was in line with the market consensus. However, the analysts themselves are more ambitious for sales, which they expect to reach 1.7 billion euros. They referred to future acquisitions, which are still uncertain.

Kontron is forecasting an increase in net profit to over EUR 87 million for 2024. Compared to the EUR 72 million that the company has forecast for 2023, this would be an increase of around a fifth. Turnover is expected to increase to over 1.4 billion euros.

Preliminary figures for the past year indicate a strong fourth quarter, the SDax-listed company from Linz also announced. Kontron expects to have exceeded its targets for 2023 as a whole. In addition to the expected net result of EUR 72 million, the management around CEO Niederhauser had recently forecast sales of EUR 1.2 billion after two forecast increases.

The company is convinced that "the 2024 financial year will be another very good year", said Niederhauser, referring to full order books. Kontron's development into a pure IoT provider is "a complete success"./nas/niw/stk