Brief: Kongsberg Automotive Announces Cost Adjustment Initiatives

Kongsberg Automotive ASA

31/10/2024 06:08

Oct 31 (Reuters) - Kongsberg Automotive ASA  KOA.OL :
    * ANNOUNCES NEW COST ADJUSTMENT INITIATIVES
    * UPDATES 2024 GUIDANCE
    * UPDATED 2024 GUIDANCE: REVENUES MEUR 760-790, EBIT MEUR
18-23
    * MAINTAINS GUIDANCE FOR NEW BUSINESS WINS OF MEUR >1,500
    * ON TRACK FOR OVERHEAD COST REDUCTIONS OF MEUR 17 IN 2024
    * NEW COST ADJUSTMENTS AIM TO FURTHER STREAMLINE OPERATIONS
AND
REDUCE OVERHEAD COST
    * ADJUSTMENTS INCLUDE A REDUCTION OF GLOBAL WORKFORCE BY
APPROXIMATELY 150 POSITIONS
    * MEASURES WILL BE INTRODUCED DURING Q4 2024 AND FIRST HALF
OF
2025
    * EXPECTS TO RECOGNIZE MEUR 2 NON-RECURRING COSTS IN Q4 2024
    * PREVIOUS 2024 GUIDANCE WAS FOR REVENUE OF EUR 790-830,
EBIT OF
EUR 28-35 MILLION
    * NEW OVERHEAD REDUCTIONS TARGETING AT LEAST MEUR 10 IN
ANNUAL
SAVINGS FROM 2025

Source text:  ID:nWkr3xVVB3 
Further company coverage:  KOA.OL 

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