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Kongsberg Automotive reports growth of 150% in Q1

As a consequence of the acquisition of GMS Kongsberg Automotive increased its revenue to

MEUR 262,3 from MEUR 105,1 in comparable period 2007. The first quarter is influenced by negative currency effects and a declining North American market.

EBITDA in first quarter 2008 was MEUR 25,4 versus MEUR 12,7 in same period 2007.

Net profit for quarter one was for 2008 7,1 MEUR versus MEUR 6,0 first quarter previous year.

Kongsberg Automotive (KA) developes, manufactures and markets systems for gearshift, clutch actuation, seat comfort, stabilising rods, couplings and components.

Courtesy: Kongsberg Automotive, Norway

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Posted by Jigar Gondalia on 3 May, 2008 4:25:20 PM IST #


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