Brief: Kongsberg Automotive Q3 Net Profit Rises To EUR 6.7 Mln
08/11/2022 06:04
Nov 8 (Reuters) - Kongsberg Automotive ASA KOA.OL :
* ALL-TIME HIGH REVENUES AND POSITIVE MARGIN DEVELOPMENT.
PORTFOLIO TRANSFORMATION IN FULL EXECUTION
* DESPITE SEVERAL MACROECONOMIC CHALLENGES FOR OUR INDUSTRY,
WE
MANAGED TO DELIVER ALL-TIME HIGH REVENUES IN Q3.
* Q3 REVENUES EUR 246.0 MILLION VERSUS EUR 267.4 MILLION
YEAR AGO
* ORGANIC GROWTH WAS IN ADDITION SUPPORTED BY CUSTOMER
REIMBURSEMENTS FOR SPOT BUY COST, PRICE INCREASE COMPENSATING
FOR INCREASED INFLATION AND FOR ELEVATED RAW MATERIAL PRICES, AS
WELL AS FOREIGN EXCHANGE TAILWIND
* Q3 ADJUSTED. EBIT EUR 12.9 MILLION VERSUS EUR 5.7 MILLION
YEAR
AGO
* ADJUSTS ITS 2022 GUIDANCE FOR ADJUSTED EBIT FROM BETWEEN
MEUR 38
AND 44 TO MEUR 35 AND 41
* GUIDANCE REVISION REFLECTS AN EXPECTED ONE-TIME CHARGE FOR
CUSTOMS CORRECTIONS FOR PRIOR YEARS
* Q3 NET PROFIT EUR 6.7 MILLION VERSUS EUR 0.4 MILLION YEAR
AGO
* STICKS TO ITS TOP LINE GUIDANCE FROM Q2 WITH REVENUES
BETWEEN
MEUR 870 AND 905 FOR 2022
Source text for Eikon: ID:nWkr5dWl2f
Further company coverage: KOA.OL
(Gdansk Newsroom)
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