Kongsberg Automotive reports Q3 2018 results
Kongsberg Automotive ASA Q3 2018 Report and Presentation follow attached.
Q3 2018 Highlights:
- Revenues increased YoY by MEUR 18.3 (~8%) to MEUR 259 including negative FX effects of MEUR 4.1.
- Adj. EBIT increased YoY by 5.4 from MEUR 7.7 to MEUR 13.1 including negative FX effects of MEUR 1.0.
- New Business Wins of MEUR 99, an increase of 60% vs Q3 2017.
- We strengthened our capital structure; finalizing the 10% capital increase and issuing a MEUR 275 / 7-year 5% bond.
- Free cash flow of MEUR < 4.5 > mainly due to increase in working capital after discontinuing our factoring program and seasonality.
- The LTM adjusted gearing ratio (NIBD/Adj. EBITDA) was 2.1
The earnings conference call including a review of the Q3 Presentation can be followed through this link starting at CET 08:00:
Norbert Loers, CFO
Phone: +41 43 508 6559
Hallstein Kvam Oma, Financial Analyst
Phone: +41 43 508 8963
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 approx. EUR 1.1 billion and approximately 10.500 employees in 19 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Zürich, Switzerland and has more than 25 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