Norway's Kongsberg Automotive returns to profit in Q2, helped by cost control

Kongsberg Automotive ASA

16/07/2026 06:10

Overview
Norway auto parts supplier's Q2 revenue was broadly stable yr/yr at EUR 193.8 mln
Company returned to positive EBIT and net profit from losses a year ago
Profitability gains driven by cost reductions and restructuring in China and France

Outlook
Company did not provide specific financial guidance for future quarters or the full year

Result Drivers
COST REDUCTIONS - Co said profitability gains were driven by structural cost reductions and continued focus on cost discipline
RESTRUCTURING ACTIONS - Consolidation of manufacturing in China and restructuring in France aimed to improve competitiveness, per CEO Trond Fiskum

Company press release: ID:nMFN2HjNWd

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
EUR 193.80 mln
EUR 185 mln (1 Analyst)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto, truck & motorcycle parts peer group is "buy."
Wall Street's median 12-month price target for Kongsberg Automotive ASA is NOK2.10, about 5% above its July 15 closing price of NOK2.00
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)