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Kongsberg Automotive reports Q3 2016 results

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Q3 2016 report and Capital Markets Day 2016 resentation follow attached

Third quarter 2016 highlights include:

  • Revenues were MEUR 228.0 in the third quarter, MEUR 1.4 below the third quarter last year excluding negative translation currency effects of MEUR 4.0.
  • EBIT was MEUR -5.0 (-2.2%) in the third quarter, versus an EBIT of MEUR 10.4 (4.5%) in the third quarter last year.
  • The third quarter EBIT was impacted by one-off items of MEUR 10.8. In addition, we incurred MEUR 0.8 of restructuring costs.
  • Reclassification of commercial currency loss from financial items to operations, negatively impacted prior periods Revenue and EBIT but had no effect on Net Income/Profit.
  • The financial gearing ratio was at 2.9 times at the end of third quarter 2016. A waiver for the bank covenant of 2.75 has been agreed with the banks.
  • Annualized business wins in the quarter amounted to MEUR 69 bringing business wins for the last twelve month to MEUR 291.

Presentations & webcasts for Q3 and Capital Markets Day

  •  The company will present the Q3 results on November 8, 2016 at 13.00 CET at Felix konferansesenter (Bryggetorget 3, 0125 Oslo). The presentation will also be webcasted starting at 13:00 CET via the company's website.
  •  The company will hold its Capital Markets Day (CMD) presentation on Nov. 8 at 14:30 CET at the same location. The CMD presentation, which will be webcasted via the company’s website, follows attached.

               (http://www.kongsbergautomotive.com/investor-relations/webcasts)

Investors / analysts:

Philippe Toth, EVP Vice President, Business Development & IR; Tel: +47 98214021

Media:

Fredrik Tangeraas, Director, Corporate Communications ; Tel: +47 92464699

About Kongsberg Automotive:

Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of EUR 1.0 billion and 10.000 employees in 18 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Norway and has 31 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com

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