Kongsberg Automotive reports Q1 2020 results
Kongsberg Automotive Q1 2020 Report and Presentation follow attached. · Revenues declined by MEUR 45 (-15 %) YoY to MEUR 262. There were no significant FX effects. The revenue shortfall to the guidance of MEUR 278 for Q1 2020 was primarily driven by corona virus related North American and European revenue declines. · Revenues in China, South Korea, Off Highway, Industrial and the aftermarket were down by around 5% YoY · OEM Automotive revenues outside of China and South Korea declined by around 18% YoY · Despite greater uncertainty around future customer demand, we were