Zurich, August 8, 2023: Kongsberg Automotive ASA (“Kongsberg Automotive”) has published its results for the second quarter 2023. The results show an underlying solid revenue growth of 17.5% at constant currency. Loss of profitable business in China and one-time effects impacted profitability negatively. 

All the financial information in this press release refers to the continuing operations of the company, as the divestments of ICS and LDC completed last year were accounted for separately in the 2022 financial statements as discontinued operations. 

Comment from the interim President & CEO Linda Nyquist-Evenrud:

“I’m happy to be elected the interim President & CEO of Kongsberg Automotive. Through my 15 years at KA, I have come to appreciate the strength of all my colleagues, understand the solid bond we have with our customers, our impressive product portfolio with market-leading positions, and the opportunities this combination gives us as a company with a global footprint.

In the last few years, KA has faced different challenges, mainly operational. Therefore, going forward, I will focus on operational improvement and employee satisfaction. Together with our highly skilled and motivated team, I’m looking forward to embarking on the journey of continuing the positive revenue trend, and more importantly, regaining profitability as soon as possible. “


Financial position:


Earnings presentation – conference call

The company will hold an earnings conference call at 08:00 CET on August 8, 2023. Conference call registration is available at the company’s webpage or the following link:

The earnings release and presentation will be published on www.newsweb.no and on KA's website www.kongsbergautomotive.com

The recording of the presentation will be made available on the company`s website shortly after the presentation.

Investor and media relations:
Mads Langaard
+47 905 81 264

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act. This stock exchange announcement was published by Investor Relations at Kongsberg Automotive ASA, and the contact person(s) mentioned above on 8 August 2023 at 07:00 CEST.  

About Kongsberg Automotive ASA
Kongsberg Automotive provides cutting-edge technology to the global vehicle industry. We drive the global transition to sustainable mobility by putting engineering, sustainability, and innovation into practice. Our product portfolio includes driver and motion control systems, fluid assemblies, and industrial driver interface products. Find more information at: kongsbergautomotive.com