Kongsberg Automotive Holding ASA (KGAUF) has released an update.
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Kongsberg Automotive reports a positive EBIT of MEUR 6.4 in Q2 2024, marking a significant improvement from the previous year’s loss, despite a challenging automotive market. The company achieved a record high book-to-bill ratio of 2.1 and secured MEUR 695 in New Business Wins for the quarter, leading to an upward adjustment of their full-year guidance. They’ve also successfully completed a refinancing strategy, reestablished their headquarters in Norway, and remain optimistic due to their strong order book.
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