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All of KONGSBERG's business areas report higher operating revenues

31. October 2014

All KONGSBERG's business areas experience higher operating revenues, with total consolidated earnings climbing by 15.7 per cent compared to Q3 2013.

Third quarter results 2014

Kongsberg Maritime has the strongest growth, continuing its record year with increase in operating revenues of 18 per cent as of Q3.

KONGSBERG reports Q3 operating revenues of MNOK 3 991 (MNOK 3 448) and EBITDA of MNOK 614 (MNOK 518), resulting in an EBITDA margin of 15.4 per cent (15.0 per cent).

"The Group as a whole has had a strong Q3, with revenue growth and good margins. Kongsberg Maritime and Kongsberg Defence Systems, totalling more than 80 per cent of the Group’s revenues, are reporting yet another quarter with good results. Collectively, the Group has a very strong order backlog and there are significant opportunities ahead of us", comments CEO and President Walter Qvam.

Strong growth for Kongsberg Maritime and Kongsberg Defence Systems

Kongsberg Maritime's Q3 operating revenues total MNOK 2 433 (MNOK 1 950), with an EBITDA of MNOK 459 (MNOK 310). Kongsberg Maritime has growth in all divisions.

Kongsberg Defence Systems' Q3 operating revenues are MNOK 920 (MNOK 884), with an EBITDA of MNOK 148 (MNOK 129), resulting in a record-high EBITDA margin of 16.1 per cent.

Kongsberg Protech Systems earned operating revenues of MNOK 360 (MNOK 337), and an EBITDA of MNOK -6 (MNOK 66).

Kongsberg Oil & Gas Technologies reports Q3 operating revenues of MNOK 271 (MNOK 256), with an EBITDA of MNOK 15 (MNOK 18).

“The results in Kongsberg Oil & Gas Technologies and Kongsberg Protech Systems are not satisfactory. Both of these business areas experienced reduced revenues. Kongsberg Oil & Gas Technologies is experiencing a slower market than predicted, resulting in challenges related to the costs. Kongsberg Protech Systems is investing substantially in development and market introduction of the new Medium Caliber Remote Weapon station where we see great opportunities, comments Qvam.

KONGSBERG will be hosting Capital Markets Day on 5 November at the Group's headquarters in Kongsberg. The press is welcome; registration should be sent to johannes.dobson@kongsberg.com.

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