Kongsberg Automotive reports Q2 2020 results
KEY TOPICS ·Revenues declined strongly by MEUR 140 (-48 %) YoY to MEUR 154, includingnegative currency translation effects of MEUR 3.9. The downturn in Q2 2020 iswholly driven by Corona virus pandemic related shortfalls in sales volume inEuropean and North American KA plants: ·Revenues in Europe and in the Americas declined by around 56% YoY and 57%respectively. ·Revenues in China increased by around 25% YoY, attributable to the quickrecovery from the Corona virus pandemic effects and KA market share gains inthat market. ·Revenues in all KA