Kongsberg Automotive Holding ASA Business Report FY2011
Business Highlights
Financial Overview |
(in million euros) |
FY2011 | FY2010 | Rate of Change (%) |
Factors | |
Overall | ||||
Sales | 999.7 | 864.4 | 15.7 | 1) |
EBITDA | 82.0 | 57.1 | 43.6 | - |
Operating revenues by business segment | ||||
Driveline Systems | 327.3 | 289.5 | 13.1 | - |
Interior Systems | 247.9 | 220.5 | 12.4 | 2) |
Actuation & Chassis | 166.0 | 114.3 | 45.2 | 3) |
Fluid Transfer Systems | 170.9 | 132.6 |
28.9 |
- |
Power Products Systems | 133.3 | 134.9 | (1.2) | - |
Eliminations & other | (45.7) | (27.4) | - | - |
Factors
1)
-The increase in revenues from 2010 to 2011 reflects the improved market conditions in the automotive industry in general in addition to the company's market share development and customer mix. All major markets have experienced positive development across all business areas during 2011.
2)
-The effect of higher sales was more than offset by product launch cost, negative margin mix due to relatively more revenue from NA versus EU, and non-recurring costs related to the closure of the plant in Burton UK.
3)
-The Actuation & Chassis revenues were up 51.7 million euros (45.2%), reflecting a strong recovery in the commercial vehicle segments.
Contracts
Major Contracts in 2011 | (From a press release in 2011) |
Customer | Product | Contract detail and value | Production Start |
German OEM (for North American Market) | Electro-mechanical seat release actuator | 10.5 million euros (5 years) |
2012Q2 at the company's facility in Matamoros and Reynosa, Mexico. |
American OEM (for North American Market) | Pneumatic lumbar system | ||
Major truck manufacturer | Suspension system for truck cabins | 40 million euros (5 years) |
2013 |
Major OEM | Gear selector system (Entry, B and C seegment cars) |
54 million euros (3 years) |
2013 at the company's facility in France, India, China. |
Chinese truck manufacturer | Air-brake couplings | 10 million euros | 2011 at the company's facility in Raufoss, Norway and Wuxi, China. |
US heavy-duty engine manufacture | High temperature fuel and turbo hose ASSY | 2011 | |
German OEM | Seat heat-system | - | 2013 at the company's facility in Pruszkow, Poland. |
European OEM | Manual gear shifter system | 16 million euros (6 years) |
2013 at the company's facility in Vrable, Slovakia. |
Chinese domestic OEM | Automatic gear shifter system | 16 million euros (6 years) |
Sept. 2011 at the company's facility in Wuxi, China. |
European OEM | Shift by wire gear shifter system (for environmentally friendly small cars) | 34 million euros (7 years) |
2014 at the company's facility in Vrable, Slovakia. |
European OEM | Manual gear shifters (for low-emission 4-cylinder petrol engine B and C segment cars) | 25 million euros (6 years) |
2013 at the company's facility in Vrable, Slovakia. |
Commercial vehicle manufacture | Fuel line system (for mid-duty trucks) |
15 million euros (6 years) |
2012 at the company's facility in Epila, Spain. |
Major OEM | Gear Shifter on a C-segment in Chinese market | 25 million euros (6 years) |
2012Q3 at the company's facility in Wuxi, China. |
Korean OEM | Seat heating systems (for North American market) | 15 million euros (7 years) |
2012Q2 |
American OEM | Seat heating systems, rear center armrests, rear head restraints and seat actuation cables on small SUV. (Annual production volume is projected to be over 300,000 vehicles) | 32 million euros (5 years) |
Late 2011 |
European commercial vehicle manufacturer | Gearshift systems | 42 million euros (6 years) |
2014 at the company's facility in Hvittingfoss, Norway. |
European OEM | Seat comfort systems | 33 million euros (7 years) |
Mid 2012 |
European commercial vehicle manufacturer | Gearshift systems | 14 million euros (5 years) |
2013 at the company's facility in Mullsjo, Swaden. |
Truck manufacturer in North America | Clutch actuation system | 35 million euros (5 years) |
2012 |
R&D
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) |
FY2011 | FY2010 | FY2009 | |
Driveline Systems | 8.9 | 5.2 | 3.7 |
Interior Systems | 9.5 | 9.0 | 4.2 |
Acutuation & Chassis | 5.1 | 3.0 | 2.6 |
Fluid Transfer Systems | 5.3 | 2.9 | 1.9 |
Power Products Systems | 2.5 | 1.0 | 0.4 |
Eliminations & other | 0.0 | 0.9 | 0.0 |
Total | 31.3 | 22.1 | 12.8 |