Kongsberg Automotive Holding ASA ( (KGAUF) ) has released its Q4 earnings. Here is a breakdown of the information Kongsberg Automotive Holding ASA presented to its investors.
Kongsberg Automotive Holding ASA is a global company that develops and manufactures products for the automotive and commercial vehicle industries, with a focus on electrification, automation, safety, and sustainability. Despite a challenging market environment in 2024, Kongsberg Automotive reported a significant improvement in its financial performance, with an EBIT of MEUR 18.7 compared to a loss in the previous year. The company achieved this through cost reduction measures and operational efficiency improvements, although revenues declined by 10.7% due to weak market demand. Key financial highlights include a positive free cash flow in the fourth quarter and substantial business wins amounting to MEUR 1,526 in lifetime revenues. Looking ahead, Kongsberg Automotive anticipates a challenging 2025 with stagnant market growth but expects to continue improving its EBIT margin through ongoing cost optimization initiatives.