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Record revenues and strong cash flow for KONGSBERG

7. February 2014

KONGSBERG 200-years

In 2014 KONGSBERG celebrates 200-years in business.

The preliminary annual results for KONGSBERG shows operating revenues of MNOK 16 323, up 4.3 per cent from 2012. The cash flow from operating activities came to MNOK 1 983. The figures for Q4 show operating revenues of MNOK 4 475, an EBITDA of MNOK 611 and a cash flow from operations of MNOK 1 066.

The Board proposes an ordinary dividend of NOK 4.25 per share (NOK 3,75). In addition the board proposes an extraordinary dividend of NOK 1.00 per share in relation to KONGSBERG's 200th anniversary. This gives a total suggested dividend of NOK 5.25 per share, equivalent to a dividend ratio of 51.3 per cent.

The preliminary annual results for 2013 show operating revenues of MNOK 16 323, compared with MNOK 15 652 in 2012, i.e. an increase of 4.3 per cent. The 2013 EBITDA was MNOK 2 142, down from MNOK 2 294 in 2012. The provisional profit for the year after tax totalled MNOK 1 225, compared with MNOK 1 304 the year before.

Q4 operating revenues added up to MNOK 4 745, compared with MNOK 4 209 in 2012. EBITDA during the quarter came to MNOK 611, which corresponds to an EBITDA margin of 12.9 per cent, compared with MNOK 573 and 13.6 per cent EBITDA in Q4 2012. New orders totalled MNOK 3 697, compared with MNOK 3 717 in Q4 2012 and the cash flow from operations increased from MNOK 884 million in Q4 2012 to MNOK 1 066 million in Q4 2013.

Kongsberg Maritime increased its operating revenues, EBITDA and EBITDA margin compared with Q4 2012. Revenues ended at MNOK 2 201 (MNOK 2 043) and EBITDA at MNOK 292 (MNOK 251 million), resulting in an EBITDA margin of 13.3 per cent, up from 12.3 per cent year-on-year. Kongsberg Defence Systems reports a strong Q4 with operating revenues of MNOK 1 619 and EBITDA of MNOK 218. Kongsberg Protech Systems has a good influx of new orders and operating revenues roughly on a par with the two first quarters of 2013. Kongsberg Oil & Gas Technologies reports 66.7 per cent higher operating revenues in Q4 2013 than a year earlier. The EBITDA margin for Kongsberg Oil & Gas Technologies was 8.2 per cent in Q4.

"We are reporting a very good Q4, featuring record- high operating revenues, a good EBITDA and a strong cash flow. Operations were strong in 2013, laying an even stronger foundation on which to reach our future goals. 2014 marks KONGSBERG's 200th anniversary, and we are well prepared going forward", remarks CEO Walter Qvam.

"As announced we signed the group's largest supply contract to date, amounting to NOK 3.7 billion NOK in January 2014 and we are off to a good start in this anniversary year", concludes Qvam.

Further information

For further information, please contact:

  • Ronny Lie, Vice President, Communications, KONGSBERG,
    Phone: +47 916 10 798
  • Jan Erik Hoff, Vice President, Investor Relations & Reporting,
    Phone: +47 991 11 916.

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