Brief: Kongsberg Automotive Q1 EBIT Rises To EUR 10 Mln

Kongsberg Automotive ASA

08/05/2024 06:24

May 8 (Reuters) - Kongsberg Automotive ASA  KOA.OL :
    * Q1 EBIT MEUR 10 (MEUR 4)
    * Q1 FREE CASH FLOW MEUR -15 (MEUR -31)
    * NEW BUSINESS WINS IN QUARTER AMOUNTED TO MEUR 450, WHICH
IS AN
INCREASE FROM MEUR 198 IN SAME QUARTER LAST YEAR
    * SIGNIFICANT IMPROVEMENT IN FREE CASH FLOW COMPARED TO Q1
LAST
YEAR
    * I AM CONFIDENT THAT MEASURES WE HAVE TAKEN WILL LEAD TO A
POSITIVE FREE CASH FLOW FOR FULL YEAR 2024 - CEO
    * WE ARE INCREASING OUR NEW BUSINESS WINS GUIDANCE TO ABOVE
MEUR
1,200
    * NEW BUSINESS WINS GUIDANCE BOOK-TO-BILL RATIO ABOVE 1.2
    * IN LINE WITH COST OPTIMIZATION PROGRAM, WE CONTINUE TO
EVALUATE
CURRENT FOOTPRINT ARE, ALSO RELOCATING TO COUNTRIES,AREAS WITH
LOWER COSTS
    * GROUP REVENUES TOTALED TO MEUR 212.1 IN Q1 2024, A
DECREASE OF
MEUR 16.7 (-7.3%) COMPARED TO Q1 2023

Source text for Eikon:  ID:nWkrhGZks 
Further company coverage:  KOA.OL 

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