KONGSBERG AUTOMOTIVE GROUP Interim report 2nd quarter 2011 (The report is based on IFRS)
7/14/2011 11:39 AM EST
Highlights second quarter & first half year 2011
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Revenues in Q2 ended at MEUR 256.6 up 13% YoY. Adjusted for negative currency effects of MEUR 9.3, revenues were MEUR 265.9 up 17 %.
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EBITDA in the second quarter ended at MEUR 22.6, including a restructuring effect of MEUR 1.8.
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For the first half year the EBITDA was MEUR 52.4, at same level as for the full year 2010. EBITDA margin at 10%.
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Net profit for the first half year improved from break even 1H 2010 to MEUR 16.1 1H 201
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The transfer of production from our UK plant to our Polish plant is ahead of plan and will close in August
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Revenue expectation for Q3 MEUR 225 and for the year MEUR 985. EBITDA for the year expected at MEUR 105.
Hans Peter Havdal CEO | Phone 47 920 65 690 | e-mail
Trond Stabekk CFO | Phone 47 982 14 054| e-mail
Philippe Toth IR | Phone 47 982 14 021| e-mail
Kongsberg Automotive is headquartered in Kongsberg, Norway and has 35 facilities in 20 countries. Kongsberg Automotive, with more than 10.000 employees, provides system solutions to vehicle makers around the world. The product portfolio includes gearshift systems, cables for a wide variety of applications, fuel lines, tubing and hoses, couplings, clutch actuation, stabilizing rods, seat heaters, seat ventilation, lumbar supports, head restrains, arm rests, steering columns, pedals, electronics and displays. Find more information at www.kongsbergautomotive.com.