While 1H/24 should be impacted by customer destocking and weaker end-demand (except in Defence) and visibility on turnaround is low, our revenue growth expectations are modest following Kitron’s guidance for flat growth in 2024 at its CMD. We are 4% below consensus on EBIT in Q4 but expect focus to be on a reiterated 2024 guidance and customer forecasts. The latter should be negatively impacted by customer destocking, which is well communicated by management, but could give some uncertainty and ....
