KONGSBERG AUTOMOTIVE GROUPInterim report 4th quarter 2011(The report is based on IFRS)

Highlights for the fourth quarter and full year 2011

        Revenue increased 16% to EUR 1 billion in 2011, with EBITDA up 44% to EUR 82.0 million

        Net profit increased to EUR 7.8 million in 2011 from EUR -9.2 million in 2010

        Fourth quarter revenue was 246.1 million (+8%), with EBITDA at 14.2 million (+73%) including EUR 4.0 million in restructuring costs

        EBITDA fell below company expectations due to continuing operational issues in the Driveline business area, changes in sales mix, and an accrual for potential losses on Saab

        In January 2012 the company refinanced its total interest bearing debt through a new 5 year agreement

        The market outlook for 2012 indicates revenues of EUR 1 billion

Kongsberg Automotive is headquartered in Kongsberg, Norway and has 48 facilities in 20 countries. Kongsberg Automotive, with more than 10.000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restraints, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.

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