Kontron stock falls as chip delays pressure cash flow, outlook holds

Kontron reported weaker revenue and operating cash flow for the first nine months of 2026 on Thursday, November 5, while management kept its full-year targets unchanged. The announcement, carried by finanzen.ch, said revenue reached 1,102.9 million euros from January through September, compared with adjusted prior-year revenue of 1,123.6 million euros.

Kontron stock traded at 18.80 euros on Lang & Schwarz at 23:00 CET on Friday, November 6, 0.37 percent above the Xetra close of Friday, November 6. Across the week, the Xetra close fell 7.09 percent from 20.16 euros on Friday, October 30, to 18.73 euros on Friday, November 6.

Chip Shortages Delay Deliveries

Operating cash flow declined to 4.3 million euros from 49.7 million euros a year earlier. Kontron attributed the pressure to higher inventories caused by tight memory-chip availability. Products and chips worth 68.6 million euros had not been delivered by the end of September, with most shipments expected in the fourth quarter.

The backlog nevertheless rose to 2,751.9 million euros at September 30, compared with 2,495.3 million euros at the end of 2025. A book-to-bill ratio of 1.23 indicated that orders continued to exceed recognized revenue.

Guidance Remains Unchanged

Management continues to target 2026 revenue of around 1.6 billion euros and EBITDA of around 200 million euros. Before restructuring one-off costs, the EBITDA target is 225 million euros. The company reported adjusted nine-month EBITDA of 151.0 million euros, up from 140.1 million euros in the adjusted prior-year comparison.

Restructuring costs of 25.1 million euros affected the reported result. Kontron also said settlement talks with Volkswagen could lead to an impairment of intangible assets of up to 25 million euros, without affecting EBITDA or cash flow.

Investors will focus next on fourth-quarter deliveries, the release of delayed inventory and the resulting cash-flow improvement. The real-time quote of Kontron stock remains a reference for the latest trading level.

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