Kongsberg Automotive ASA second quarter 2015 report
Group highlights for Q2 include:
- Q2 2015 revenues of EUR 266.0 million, above guiding
- Revenues in the quarter were 4.6% above Q2 2014, including favorable currency effects of EUR 26.6 million
- EBIT was EUR -4.8 million in Q2 2015, negatively impacted by a EUR 19.5 million goodwill write–off related to strategic wind down of head- and armrest business
- Excluding the write–off Q2 2015 EBIT was EUR 14.7 million
- Impacted by volume effects and increased R&D activity to address future growth opportunities (EUR 2.9 million)
- Gearing ratio at 2.4x NIBD/EBITDA
Trond Stabekk, Executive Vice President & CFO Tel. 47 982 14 054
About Kongsberg Automotive:
Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of close to EUR 1.0 billion and approximately 10.000 employees in 20 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 32 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com