Kongsberg Automotive

Earnings Release • Nov 7, 2019

Kongsberg Automotive reports Q3 2019 results

KongsbergAutomotiveASA Q3 2019 Report and Presentation follow attached.

Highlights Q3 2019:

• In a challenging market environment, we again grew our revenues:
• YoY revenue growth of 7.8% from MEUR259 to MEUR279 including positive FXeffects of MEUR4.
• Excluding FXeffects, our growth rate was 6% compared to a decline in the passenger car and truck markets of -3% and -4%, respectively.
• We were awarded new business totaling MEUR65 on an annualized basis, corresponding to MEUR299 in expected lifetime revenues.
• The adjusted EBITmargin was flat YoY, growing in line with revenue by MEUR0.8 to MEUR13.9. This includes unfavorable FXeffects of MEUR0.3.
• As has been the case in the previous quarters, the fall through from additional volume was partly offset by macro factors.
• EBITfor the quarter amounted to MEUR11.9 versus MEUR6.2 in Q3 2018. This improvement is mainly driven by the reduction in restructuring costs complemented by the positive business development.
• Free cash flow was MEUR-8 in Q3 2019.
• Our total liquidity reserve at the end of the quarter amounted to MEUR64.5 of which MEUR23.4 as unrestricted cash on hand.
• Excluding IFRS 16 effects, our LTM adjusted gearing ratio (NIBD/Adj. EBITDA) was 2.4X, which is 0.3Xhigher than in Q3 2018. Including IFRS 16 effects, our adjusted gearing ratio was 3.0X.

The earnings conference call including a review of the Q3 Presentation can be followed through this link starting at CET09:00:

https://globalmeet.webcasts.com/starthere.jsp?ei=1231906&tp_key=aaa5f24e97

Contacts:

Ralf Hoppe, VP Investor Relations & Planning

Phone: +41 43 508 8947

Hallstein Kvam Oma, Financial Analyst Phone: +41 43 508 8963

ir@ka-group.com

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KongsbergAutomotive 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 approx. EUR1.1 billion and approximately 11.500 employees in 19 countries, KongsbergAutomotive is truly a global supplier. The company is headquartered in Zürich, Switzerland and has more than 25 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