Kongsberg Automotive doubles revenues

Oslo Stock ExchangePhoto: Erik Johansen / NTB

Kongsberg Automotive had EUR 296 million in revenues in the second quarter of 2021, up 92.6% from the same quarter last year. 

Global raw material shortages negatively affected the results.

In the second quarter of the year alone, the global shortage of raw materials cost the car parts manufacturer EUR 20 million, which is equivalent to NOK 208 million.

The company now has an operating profit of EUR 5.1 million.

Upon opening on the Oslo Stock Exchange, the share fell by 9%. From a recent peak in January, the share has fallen around 30%, E24 writes.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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