Kongsberg Automotive

Kongsberg Automotive announces EUR 15 million annual overhead cost reduction initiative

Kongsberg, July 3, 2025: Kongsberg Automotive (KA) has finalized an overhead

cost reduction plan expected to yield annual savings of EUR 15 million. The

initiative, announced during the company's Q1 presentation on May 7, 2025, is

part of KA's efforts to improve financial performance. This overhead cost

reduction initiative comes in addition to the previously announced cost

adjustment program.

Approximately 150 positions will be affected by the ongoing plan. Implementation

began in May 2025, with most actions scheduled for completion within this year.

Some aspects of the program will extend into Q3 2026.

In parallel, due to ongoing market softness - particularly in the North American

and European truck segments - driven largely by the United States tariffs and

broader geopolitical tensions, KA is adjusting its direct labor levels to align

with lower production volumes as a part of variable cost adjustment. Market

forecasts for the second half of 2025 have been revised downward and currently

fall below the company's earlier expectations. KA is closely monitoring the

situation and will provide an update during the Q2 presentation on August 12,

KA remains committed to delivering value to its customers and shareholders while

positioning the organization for long-term financial performance and growth.

Media and Communications contact:

Therese Sjöborg Skurdal - Director Group Marketing and Communications

+47 982 14 059

About Kongsberg Automotive ASA

Kongsberg Automotive provides cutting-edge technology to the global vehicle

industry. We drive the global transition to sustainable mobility by putting

engineering, sustainability, and innovation into practice. Our product portfolio

includes driver and motion control systems, fluid assemblies, and industrial

driver interface products. Find more information at

https://www.kongsbergautomotive.com

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