Kongsberg Automotive ASA
F:K3A
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Kongsberg Automotive ASA
Kongsberg Automotive ASA engages in the development, manufacture and trade of components, accessories and spare parts. The company is headquartered in Kongsberg, Buskerud. The company went IPO on 2005-06-24. The firm's operations are divided into two reporting segments, Powertrain and Chassis (P&C) as well as Specialty Products. The Powertrain and Chassis segment is engaged in the design, manufacture, and testing of custom powertrain and chassis solution. The company also engineers and manufactures products for makers of passenger cars and commercial vehicles. The Specialty Products segment consists of three business units: Couplings, Fluid Transfer Systems, and Off-Highway. These business units are responsible for the development and delivery of specialized niche products with focus on innovation and customer benefits. The firm has more than 27 production facilities worldwide.
Kongsberg Automotive ASA engages in the development, manufacture and trade of components, accessories and spare parts. The company is headquartered in Kongsberg, Buskerud. The company went IPO on 2005-06-24. The firm's operations are divided into two reporting segments, Powertrain and Chassis (P&C) as well as Specialty Products. The Powertrain and Chassis segment is engaged in the design, manufacture, and testing of custom powertrain and chassis solution. The company also engineers and manufactures products for makers of passenger cars and commercial vehicles. The Specialty Products segment consists of three business units: Couplings, Fluid Transfer Systems, and Off-Highway. These business units are responsible for the development and delivery of specialized niche products with focus on innovation and customer benefits. The firm has more than 27 production facilities worldwide.
Revenue Drop: Revenue declined by around 10% year-over-year in Q3, driven by a challenging global automotive market and lower demand, especially in North America due to tariffs.
Profit Improvement: Despite lower sales, EBIT improved significantly to EUR 4.9 million from EUR 1.1 million last year, reflecting effective cost reductions.
Strong Cash Flow: Positive cash flow of EUR 6.6 million was delivered, an improvement of EUR 11.8 million compared to Q3 last year.
Tariff Impact Mitigated: Tariffs had a zero net impact in the quarter, with most costs either recovered or pending reimbursement from customers.
Warranty Concerns: Warranty costs remain a concern, with EUR 2.7 million reported in Q3, including EUR 2.5 million in new accruals, and additional risks identified.
Cost Reduction on Track: Ongoing cost-saving programs are progressing as planned, with a goal of EUR 40 million in improved cost base.
M&A Activity: Full acquisition of Chassis Autonomy and the remaining share in a China joint venture completed, increasing strategic flexibility.
Outlook Steady: EBIT is expected to surpass both the first half of this year and the second half of last year; the overall outlook for the rest of the year remains stable.
