Kongsberg Automotive reports Q3 2016 results

Third quarter 2016 highlights include:

Revenues were MEUR 228.0 in the third quarter, MEUR 1.4 below the third quarter last year excluding negative translation currency effects of MEUR 4.0.
EBIT was MEUR -5.0 (-2.2%) in the third quarter, versus an EBIT of MEUR 10.4 (4.5%) in the third quarter last year.
The third quarter EBIT was impacted by one-off items of MEUR 10.8. In addition, we incurred MEUR 0.8 of restructuring costs.
Reclassification of commercial currency loss from financial items to operations, negatively impacted prior periods Revenue and EBIT but had no effect on Net Income/Profit.
The financial gearing ratio was at 2.9 times at the end of third quarter 2016. A waiver for the bank covenant of 2.75 has been agreed with the banks.
Annualized business wins in the quarter amounted to MEUR 69 bringing business wins for the last twelve month to MEUR 291.

Presentations & webcasts for Q3 and Capital Markets Day

The company will present the Q3 results on November 8, 2016 at 13.00 CET at Felix konferansesenter (Bryggetorget 3, 0125 Oslo). The presentation will also be webcasted starting at 13:00 CET via the company's website.

The company will hold its Capital Markets Day (CMD) presentation on Nov. 8 at 14:30 CET at the same location. The CMD presentation, which will be webcasted via the company’s website, follows attached.