Edition:
United States

Kongsberg Automotive ASA (KOA.OL)

KOA.OL on Oslo Stock Exchange

5.89NOK
10:25am EST
Change (% chg)

kr0.01 (+0.17%)
Prev Close
kr5.88
Open
kr5.87
Day's High
kr5.96
Day's Low
kr5.80
Volume
437,899
Avg. Vol
1,027,722
52-wk High
kr7.34
52-wk Low
kr5.03

Latest Key Developments (Source: Significant Developments)

Kongsberg Automotive Q3 EBIT swings to loss of 5.0 million
Tuesday, 8 Nov 2016 02:02am EST 

Kongsberg Automotive ASA : Q3 revenues were 228.0 million euros ($252 million), 1.4 million euros below Q3 last year excluding negative translation currency effects of 4.0 million euros . Q3 EBIT loss 5.0 million euros versus profit 10.4 million euros year ago . Plans to reduce operational footprint from 31 to 25 plants within next 3 years . Says most of closures are in Europe, mainly in Powertrain & Chassis products segment . By the end of 2019, plans to deliver in excess of 8 pct EBIT margins (more than 3 times compared to 2016) . By the end of 2019, plans to deliver in excess of 1.50 crowns EPS (more than 10 times compared to 2016) . Plans to improve systems and process efficiencies which will take out significant admin costs . Restructuring program should be seen as “long overdue” . Sees power train revenue of 366 million euros in 2017, 386 million euros in 2018 and 432 million euros in 2019 .Sees ka total revenue of 1.01 billion euros in 2017, 1.07 billion euros in 2018 and 1.17 billion euros in 2019.  Full Article

Kongsberg Automotive Q3 EBIT swings to loss of EUR 5.0 mln
Tuesday, 8 Nov 2016 02:02am EST 

Kongsberg Automotive ASA : Q3 revenues 228.0 million euros ($250 million), 1.4 million euros below Q3 last year excluding negative translation currency effects of 4.0 million euros .Q3 EBIT loss 5.0 million euros versus profit 10.4 million euros year ago.  Full Article

Kongsberg Automotive appoints Martin B. Hogganvik interim CFO
Monday, 15 Aug 2016 05:39am EDT 

Kongsberg Automotive ASA :Kongsberg Automotive's VP Finance Martin B. Hogganvik appointed interim CFO at Kongsberg Automotive ASA with immediate effect.  Full Article

Kongsberg Automotive CEO buys co's shares
Thursday, 14 Jul 2016 07:43am EDT 

Kongsberg Automotive ASA :Henning Jensen, Kongsberg Automotive's President and CEO, bought on July 14 a total of 147,500 Kongsberg Automotive shares at 5.27 Norwegian crowns per share.  Full Article

Kongsberg Automotive Q2 EBITDA down at EUR 21.2 million
Thursday, 14 Jul 2016 01:27am EDT 

Kongsberg Automotive ASA : Reported on Wednesday Q2 revenue 252.1 million euros ($2780.0 million) versus 266.0 million euros year ago . Q2 EBITDA 21.2 million euros versus 26.1 million euros year ago . Q2 profit before taxes 8.6 million euros versus loss 6.9 million euros . Expects Q3 and Q4 to be relatively flat compared to last year with combined H2 2016 revenues of about 480 million euros .Assumption is that there will be no dramatic changes in end markets or FX rates as compared to H1.  Full Article

Kongsberg Automotive: Henning E. Jensen new CEO, Bruce E. Taylor new Chairman
Monday, 13 Jun 2016 01:30am EDT 

Kongsberg Automotive ASA : Hans Peter Havdal has tendered his resignation from Chief Executive (CEO) position . Chairman of the Board Henning E Jensen is appointed CEO .Board member Bruce E Taylor is appointed Chairman of the Board.  Full Article

Kongsberg Automotive gets nomination from car maker for supply of Shift by Wire systems
Tuesday, 31 May 2016 03:40am EDT 

Kongsberg Automotive ASA : Key Driveline contract for Shift by Wire systems from European OEM . Lifetime contract value is 65 million euros ($72.34 million), but this is however a 100 pct replacement win where conventional mechanical shifters are substituted by Shift by Wire systems .Production supply will start in H2 2018 and run for 7 years with a peak volume in 2022.  Full Article

CFO Trond Stabekk to leave Kongsberg Automotive
Tuesday, 24 May 2016 07:00am EDT 

Kongsberg Automotive ASA : Trond Stabekk, Chief Financial Officer of Kongsberg Automotive ASA, has informed that he has accepted a new position outside the company and has handed in his resignation .Stabekk has a contractual notice period of six months and the process to identify his successor is initiated.  Full Article

Kongsberg Automotive awarded multiple contracts worth EUR 15 million
Friday, 20 May 2016 03:41am EDT 

Kongsberg Automotive ASA : Says awarded multiple seat comfort systems contracts worth 15 million euros ($16.8 million) .Combined value is estimated at 15 million euros (140 million Norwegian crowns) over a supply period of 3 to 8 years depending on car mode.  Full Article

Kongsberg Automotive awarded EUR 54 mln seat heat business with German OEM
Thursday, 19 May 2016 04:21am EDT 

Kongsberg Automotive ASA : KA awarded 54 million euros ($60.58 million) (504 million Norwegian crowns) seat heat business with German OEM . Interior business area has been awarded multiple agreements with a German automaker for global supply of seat heat products . Production scheduled to start in Q1 2017 from KA's facility in Reynosa, Mexico .Production for other brands will commence in Q3 of 2017 in Pruszkow, Poland.  Full Article

BRIEF-Kongsberg Automotive appoints Martin B. Hogganvik interim CFO

* Kongsberg Automotive's VP Finance Martin B. Hogganvik appointed interim CFO at Kongsberg Automotive ASA with immediate effect Source text for Eikon: