Kongsberg Automotive ASA reports first quarter 2016 results

• First quarter sales in line with guiding
• Operational improvements partly offset increased R&D spend
• Investments for the future continue in line with the strategy communicated at the capital markets day in December 2015

First quarter 2016 highlights include:

• Revenues were EUR 258.7 million in the first quarter, EUR 11.3 million below the first quarter 2015, including negative currency effects of EUR 5.9 million
• EBIT was EUR 14.1 million (5.4%) in the first quarter, versus 16.7 million (6.2%) the first quarter 2015
• Financial gearing ratio at 2.2x NIBD/EBITDA vs. 2.4 in the first quarter 2015.
• Annualized business amounted to EUR 35 million bringing the last twelve-month run rate to EUR 301 million
• Revenues for the next quarter 2016 are expected to be in line with Q1 16

Presentation & webcast

The company will present the results on April 15, 2016 at 08.30 am at Felix konferansesenter (Bryggetorget 3, 0125 Oslo). The presentation will also be broadcast live starting at 08.30 am via the company's website (http://www.kongsbergautomotive.com/investor-relations/webcasts/ )

Investors / analysts:

Trond Stabekk, Executive Vice President & CFO

Tel. +47 982 14 054

Philippe Toth, Sr. Vice President, Business Development & IR

Tel: +47 98214021

Media:

Fredrik Tangeraas, Director, Corporate Communications

Tel: +47 92464699

About Kongsberg Automotive:

Kongsberg Automotive provides world class products to the global vehicle industry. Our products enhance the driving experience, making it safer, more comfortable and sustainable. With revenues of EUR 1.0 billion and 10.000 employees in 18 countries, Kongsberg Automotive is truly a global supplier. The company is headquartered in Kongsberg, Norway and has 30 production facilities worldwide. The product portfolio includes seat comfort systems, driver and motion control systems, fluid assemblies, and industrial driver interface products developed for global vehicle manufacturers. Find more information at www.kongsbergautomotive.com