AI Terminal

MODULE: AI_ANALYST
Interactive Q&A, Risk Assessment, Summarization
MODULE: DATA_EXTRACT
Excel Export, XBRL Parsing, Table Digitization
MODULE: PEER_COMP
Sector Benchmarking, Sentiment Analysis
SYSTEM ACCESS LOCKED
Authenticate / Register Log In

Kongsberg Automotive

Earnings Release May 15, 2019

3648_rns_2019-05-15_08de3e6c-132e-4603-9a55-30b798dd1ea4.pdf

Earnings Release

Open in Viewer

Opens in native device viewer

Kongsberg Automotive ASA Q1 2019 Report and Presentation follow attached.

Q1 2019 Highlights:

  • In spite of a generally declining market, revenues grew by MEUR 18 (6.3%) YoY to MEUR 307 including positive FX effects of MEUR 5.
  • We had another strong booking quarter as we won new business worth MEUR 65 in annual revenues which corresponds to MEUR 339 in expected lifetime revenues.
  • Adj. EBIT improved YoY by more than 6% with margins slightly up, which represents a YoY increase by MEUR 1 to MEUR 22.
  • However, the fall through of the additional revenues was limited due to:
    • − Increased costs of raw materials and custom duties in Q1 2019 with a YoY effect of negative MEUR 3.
    • − Unfavorable product mix effects as well as segment and market mix effects
    • − Unexpected increase in Mexican labor costs of MEUR 1.
  • Positive FX effects of 1 MEUR
  • We had YoY 80% lower restructuring costs which improved our EBIT significantly
  • Free cash flow was negative MEUR 29 primarily driven by working capital increase primarily due to seasonality which should largely be reversed in Q2.
  • Cash on hand at the end of Q1 2019 of MEUR 32.
  • On a non IFRS adjusted basis, the LTM adjusted gearing ratio (NIBD/Adj. EBITDA) improved from 2.4X in Q1 2018 to 2.2X in Q1 2019. After the IFRS 16 adjustments, our gearing ratio is 3.0X.

The earnings conference call including a review of the Q1 Presentation can be followed through this link starting at CET 09:00:

https://globalmeet.webcasts.com/starthere.jsp?ei=1231901&tp\_key=108ad39a55

Talk to a Data Expert

Have a question? We'll get back to you promptly.