"We have observed the biggest increase in the industrial and medical segments. For instance, we have seen a steep rise in the number of orders from our HemoCue client who manufactures blood testing devices. Another new big order is the smart electricity meters for the Norwegian market. The competition is intense, therefore, the sales mainly grow because of innovations and new products. The growth of companies whose innovations came late or have no new products is considerably lower," Kitron's CEO Mindaugas Sestokas told.
The company hopes to raise its 2016 revenue by 25% to over 65 million euros, planning to invest 3 million euros in production modernization this year.