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KONGSBERG continues to progress

24. October 2008

KONGSBERG continues to progress, reporting Q3 operating revenue of MNOK 7 666, up 27 per cent from 2007. The Year-to-date EBITA totalled MNOK 803, compared with MNOK 576 during the same months last year. The Group has seen a strong influx of new orders in 2008, i.e. NOK 11.9 billion at 30 September. The backlog of orders was valued at NOK 17.1 billion at the same date, up NOK 4.4 billion from year end.

A sound platform for growth

"Kongsberg Maritime and Kongsberg Defence & Aerospace continue to demonstrate progress in their results and margins year-on-year. Sales orders have been high this year, and the backlogs of both business areas were once again record high at the end of the quarter. The Group is also continuing to develop well on international markets as well as in Norway. These positions and our substantial backlog of orders give us a sound platform for growth as we move into 2009", comments CEO Walter Qvam.

KONGSBERG earned a Q3 EBITA of MNOK 331 (MNOK 225), based on operating revenue of MNOK 2 561 (MNOK 1 967). The EBITA margin was 12.9 per cent (11.4) during the quarter. Sales orders added up to NOK 4.2 billion (4.1) in Q3.

Kongsberg Maritime

Kongsberg Maritime reported a Q3 EBITA of MNOK 193 (MNOK 136), based on operating revenue of MNOK 1 456 (MNOK 1 174). Sales orders in Q3 aggregated MNOK 2 137 (MNOK 1 918), and the backlog at the end of the quarter was worth MNOK 7 357, compared with MNOK 5 469 at 30 September 2007.

Kongsberg Maritime has a high pace of delivery in all segments, especially in subsea activities. There was a good influx of new orders in Q3 and the backlog of orders is record high. The business area signed an agreement for the acquisition of the British sonar company GeoAcoustics Ltd. for MNOK 42 in Q3.

Kongsberg Defence & Aerospace

Kongsberg Defence & Aerospace had a Q3 EBITA of MNOK 138 (85), based on operating revenue of MNOK 1 076 (762). New orders totalled MNOK 2 083 (MNOK 2 193) in Q3, and the backlog at the end of the quarter added up to MNOK 9 681, compared with MNOK 7 603 on 30 September 2007. The business area signed several major contracts during the quarter. Moreover, a total of NOK 1.3 billion in call-off orders were placed under the NOK 8 billion CROWS framework agreement signed with the US Army in August 2007. The business area also signed a contract worth MNOK 130 with the Turkish company ASELSAN for subsea surveillance systems.

Number of employees

At the end of Q3 2008, KONGSBERG had a total of 5 128 employees. This is a net increase of 923 employees since the beginning of the year. A total of 1390 of the Group's co-workers now work outside Norway.

Contacts

  • CEO Walter Qvam - telephone: ( 47) 322 89510 - ( 47) 905 25226
  • CFO Arne Solberg - telephone: ( 47) 322-89575 - ( 47) 920-60011