Kongsberg Automotive maintains its positive revenue trend in Q1, despite adverse impact on profits due to lower sales in China’s passenger car market and product mix
Zurich, May 9, 2023: Kongsberg Automotive ASA (“Kongsberg Automotive”) has published its results for the first quarter 2023. The results show a continuous positive top line trend, while a challenging development in China and unfavorable foreign exchange rate developments are impacting the adjusted EBIT and net income negatively. Adjusted EBIT declined in the Powertrain & Chassis segment on the back of lower sales towards passenger cars in China. In Specialty Products, a less favorable product mix and higher material costs not yet fully passed on to customers led to a lower margin. All