Kongsberg Automotive

Kongsberg Automotive reports Q1 2017 results

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

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