Kongsberg Automotive ASA Business Report FY2010

Business Highlights

Financial Overview

(in million euros)
  FY2010 FY2009 Rate of Change
Sales 864.4
622.8 38.8 1)
EBIT 10.2
(46.3) -
Operating revenues by business segment
Driveline Systems
234.7 23.3 2)
Interior Systems
153.3 43.8 2)
Actuation & Chassis 114.3 67.9 68.3 -
Fluid Transfer Systems 132.6 87.6 51.3 2), 3)
Power Products Systems 134.9 103.4 30.5 -
Eliminations & other (27.4) (24.1) - -

-During 2010, the Company were able to outgrow the general market growth. The KA YoY revenue growth was 39% versus 23.6% volume growth in the light vehicle market and 43.8% growth in the commercial vehicle market.

-Several important contracts were secured in 2010. Significant global contracts were secured in the Driveline-, Interior and Fluid business area.

-During Q4 in 2010, the Company also secured a breakthrough contract in the Asian truck market for air couplings.


Major Contracts in 2010                                                                                        (From a press release in 2010)
Product Contract detail and value
Production Start
European automaker Seat comfort systems 30 million euros 2012
European automaker Seat comfort systems 33 million euros. 2012
German compact carmaker Seat Heat 11 million euros Produce this program from facilities in China, starting from 2012.
A European carmaker Modular Seat Comfort System 17 million euros Initial deliveries will start in 2011.
A car producer in Japan Seat Support The program, with estimated value of 5 million euros, will run over 4 years. Second half of 2011
German seat maker pneumatic lumbar support systems to the European heavy duty truck segment a new contract valued at 5 million euros 2011 at the company's facility in Pruszkow, Poland.
European automaker Transmission shifters and shift cables for its medium-sized vehicles equipped with 5- and 6-speed manual transmissions 14 million euros 2012
European heavy-duty truck producer Gearshift system 12.5 million euros 2011
Chrysler C-segment automatic and manual transmission shifters The program will generate approximately 38 million euros through its duration to 2016. -
A customer base in Europe Manual shifters and shift cables to a medium-sized low cost car, and shift by wire technology on a Hybrid SUV 7 million euros The contract terms vary from 5 to 6 years and the first deliveries are going to start in 2011.
A leading carmaker in Europe Shift towers The contract is worth 40 million euros and will run over a period of ten years. 2013
A major European car manufacturer The automatic and manual shift systems for several cars The contract will run over 6 years and is valued at 65 million euros. Launched in the first half of 2012
A major car manufacturer Manual shift system The contract, which will commence in 2011 will run over 7 years and is valued at more than 100 million euros. -
North American and Japanese OEM Automotive control cables 16 million euros 2011 with production in Mexico and China
A global producer of commercial vehicles in Asia Air couplings for the brake and suspension systems 15 million euro over 5 years 2012
A leading manufacturer of passenger cars Fluid system 35 millions euros -
Anhui Hualing Automobile clutch actuation systems for their entire fleet of high-end heavy trucks 15 million euros The installation is due to start in 2010.


R&D Structure

-R&D facility is located in Kongsberg, Norway.

Product Development

-The Company and Qrtech AB of Sweden announced the formation of a joint venture company focusing on development and design in the field of power electronics in a hybrid- or electric vehicle. Kongsberg initially will acquire 51 percent and Qrtech 49 percent of the joint venture, which will be called e-Driveline AB. The joint venture, which will be located in Gothenburg, Sweden, is expected to be operational at the end of April 2011. Qrtech AB specializes in development of electronics and software for automotive application. (From a press release on April 4, 2011)

Investment Activities

Capital Expenditures

(in million euros)
  FY2010 FY2009
Driveline Systems
Interior Systems 8.9 4.2
Acutuation & Chassis 2.9 2.6
Fluid Transfer Systems
Power Products Systems
Eliminations & other
Total  21.7