Kongsberg Automotive reports Q4 2019 results
Kongsberg Automotive ASA Q4 2019 Report and Presentation follow attached. Q4 2019 Highlights: · Revenues declined by MEUR 7.5 (-2.6%) YoY to MEUR 280.8. This includes positive FX effects of MEUR 1.8. On a fixed exchange rate basis, our revenues declined by 3.2% YoY. · In Q4 we experienced strongly declining revenues in November and December to a greater degree than the decline in our customers’ production rates. · We continued to gain market share in the passenger car market, mainly driven by strong P&C growth in China. Overall, on a constant currency basis we had virtually