Update: Investment beginning to show through in orders
We attended Kongsberg Automotive’s (KA) 2014 capital markets day (CMD) in Oslo and, as expected, the group gave its updated views on the market, progress towards 2015 targets and indicated the direction of travel beyond that period. The group’s focus remains on investment in R&D to ensure it becomes the global leader in its core areas of expertise in interiors and driver controls, where the offering plays to several global automotive megatrends such as comfort and efficiency. While the group’s update to its 2015 targets included a revised ROCE target of 13% (cf 15% previously) as a result of the uncertain market and timing mismatch between R&D investment and revenues, progress against all measures has been positive, while the longer-term picture looks increasingly healthy.Kongsberg Automotive develops, manufactures and sells products to the automotive industry worldwide. The product portfolio includes seat comfort systems, driveline related systems, fluid assemblies, and industrial driver-interface products developed for vehicle manufacturers. Co.'s business area focus on interior, which provides safety and comfort related products; driveline, which provides gear shift systems for light duty vehicles; fluid transfer, which provides fluid handling systems for commercial vehicles and passenger cars; and driver control, which provides driver control systems and chassis related products to commercial vehicles, outdoor power equipment and recreational products.
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