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Kongsberg Automotive ASA (KOA.OL)

KOA.OL on Oslo Stock Exchange

6.73NOK
10:25am EDT
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Latest Key Developments (Source: Significant Developments)

Kongsberg Automotive Q1 adjusted EBIT rises to EUR 13.5 mln
Tuesday, 9 May 2017 01:59am EDT 

May 9 (Reuters) - KONGSBERG AUTOMOTIVE ASA :ADJUSTED EBIT WAS MEUR 13.5 IN Q1, MEUR 1.7 ABOVE Q1 LAST YEAR.Q1 REVENUE EUR 270.7 MILLION VERSUS EUR 243.8 MILLION YEAR AGO.REVENUES WERE MEUR 270.7 IN Q1, MEUR 26.9 (11.0%) ABOVE Q1 LAST YEAR.  Full Article

Kongsberg Automotive seeks to close manufacturing facility in Germany
Wednesday, 1 Mar 2017 05:33am EST 

Kongsberg Automotive ASA : Says seeks to close its manufacturing facility in Heiligenhaus, Germany . Has now initiated negotiations with works council to agree on balance of interest and social plan for all affected employees .Late last year presented substantial cost restructuring plan which includes reducing manufacturing footprint from 31 to 25 facilities, mainly within the Powertrain and Chassis products segment in Europe.  Full Article

Kongsberg Automotive Q4 adjusted EBIT down 37.7 pct
Tuesday, 28 Feb 2017 02:34am EST 

Kongsberg Automotive Asa : Revenues were 249.8 million euros ($264.41 million) in Q4, 1.5 million euros (0.6%) above Q4 last year . Adjusted EBIT was 7.4 mln euros in Q4, -4.5 million euros (-37.7 pct) below Q4 last year . Decided to re-organize and re-segment its businesses into three main segments - interior, powertrain & chassis products, and specialty products, starting in Q1 . Light vehicle production in 2017 is expected to grow by 1.6 pct to 93.8 million vehicles . Expects reasonable growth in all markets except south america and russia. .Says market outlook for 2017 gives reason to expect revenues to grow by 2-3 pct in 2017.  Full Article

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

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