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Kongsberg unveils Q1 revenue up 11% to EUR270m

By Simon Warburton | 12 May 2017

Kongsberg has posted first quarter revenue of EUR270m (US$294m), an increase of EUR27m or 11% compared to the same period last year.

Adjusted EBIT was EUR13.5m in the first quarter, EUR1.7m above the first quarter last year.

During the first quarter Kongsberg concluded the sale of the North American Headrest and Armrest business. As a result, the North American Headrest and Armrest business is reported as discontinued operations.

In March, the supplier announced the closure of the Heiligenhaus facility in Germany. Restructuring costs of EUR6.6m were accrued.

Annualised business wins in the first quarter amounted to EUR35m, bringing the total business wins for the last twelve months to EUR282m.

Kongsberg Automotive has revenues of around EUR1bn and 10,000 employees in 18 countries. 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.