(Corrects a typographical error in the Q1 2017 report ( on page 4, in the last
sentence) to correctly refer to KA's Capital Markets' Day in November 2016, not
2017 as stated in the previous version of the report)
The Q1 2017 Report follows attached. First quarter 2017 highlights include:
· Revenues were MEUR 270.7 in the first quarter, MEUR 26.9 (11.0%) above the
first quarter last year, including positive currency translation effects of MEUR
5.4.
· Adjusted EBIT was MEUR 13.5 in the first quarter, MEUR 1.7 above the first
quarter last year.
· During the first quarter we concluded the sale of the North American
Headrest and Armrest business. As a result of this, the North American Headrest
and Armrest business is reported as discontinued operations.
· In March, we announced the closure of the Heiligenhaus facility in Germany.
Restructuring costs of MEUR 6.6 were accrued.
· Annualized business wins in the first quarter amounted to MEUR 35 bringing
the total business wins for the last twelve months to MEUR 282.
· The adjusted gearing ratio (NIBD/EBITDA) was 2.8X at the end of first
quarter including discontinued operations. Excluding discontinued operations,
the gearing ratio was 2.9X.
Investors/analysts:
Norbert Loers, Chief Financial Officer; mobile: +41 79 159 68 16
Media:
Fredrik Tangeraas, Director, Corporate Communications; mobile: +47 924 64 699
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 around EUR 1.0 billion and 10.000
employees in 18 countries, Kongsberg Automotive is truly a global supplier. The
company is headquartered in Switzerland and has 30 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