Kongsberg witnesses 27% increase in operating revenues

Norway based Kongsberg witnessed an increase in its operating revenues by 27 percent and recorded solid growth in all business areas compared with Q2 last year.

Further, the order intake was NOK 10.5 billion and the order backlog increased to NOK 68.1 billion.

Notably, Kongsberg Gruppen is an international technology group headquartered in Norway, that supplies high-technology systems to customers in the merchant marine, defence, aerospace, offshore oil and gas industries, and renewable and utilities industries.

“We delivered another strong quarter with NOK 9.6 billion in operating revenues and EBIT of NOK 1.0 billion. We see significant opportunities ahead, which makes us confident that the order backlog will grow further,” says President and CEO Geir Håøy of KONGSBERG.

The strong growth continued, and all business areas in Kongsberg increased operating revenues by more than 20 percent in the quarter, compared with the corresponding quarter last year.

Also, Kongsberg Maritime has increased activity in both the newbuilding and aftermarket and delivered growth of 24 per cent.

Besides, Kongsberg Defence & Aerospace increased operating revenues by 29 per cent, mainly driven by missiles and air defence.

As for Kongsberg Discovery, it grew 25 per cent, primarily driven by increased activity related to deliveries of the autonomous underwater vehicle Hugin.

While, Kongsberg Digital’s growth of 55 per cent is driven by the ongoing roll-out of digital solutions, which also generates increased recurring revenues.

All business areas delivered significant growth in the quarter compared to Q2 last year.

Source: https://www.kongsberg.com/newsandmedia/news-archive/2023/strong-growth-and-nok-1-billion-in-operating-revenues/