Kongsberg Automotive ASA reports second quarter 2016 results
Second quarter 2016 highlights include: · Henning Jensen started as CEO at the end of Q2, Bruce Taylor replaced him as Chairman of the Board · Revenues were EUR 252.1 million in the second quarter, EUR 2.9 million below the second quarter last year before negative currency effects of EUR 11.0 million. · EBIT was EUR 10.5 million (4.2%) in the second quarter, versus an adjusted EBIT of EUR 14.7* million (5.5%) in the second quarter last year. · The financial gearing ratio was at 2.2 times at the end of second quarter 2016 versus 2.4 in the second quarter 2015. ·