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High activity level and solid order intake for KONGSBERG

21. August 2015

KONGSBERG reports higher operating revenues in H1, along with a backlog of orders valued at more than NOK 21 billion at the end of Q2.

KONGSBERG earned operating revenues of MNOK 4,222 (MNOK 4,263) and EBITDA of MNOK 386 (MNOK 455) in Q2 2015. The Group booked new orders valued at MNOK 3,993 (MNOK 5,714), bringing the backlog to MNOK 21,439 (MNOK 21,096) at end quarter.

High level of activity, profit influenced by one-off effects

Kongsberg Maritime continued to win orders in a demanding market and saw further revenue growth during the quarter. Q2 revenues came to MNOK 2,509 (MNOK 2,359), while new orders during the quarter totalled > MNOK 2,526 (MNOK 2,594). Kongsberg Defence Systems is continuing its upward trend, reporting EBITDA of MNOK 153 (MNOK 147) during the quarter, resulting in a margin of 13.7 per cent (11.4 per cent). The Group's quarterly EBITDA was influenced by significant one-off effects.

"We have been through a quarter characterized by stable good revenues and a robust influx of new orders, even though the quarterly profit was somewhat influenced by one-off effects. Our two largest business areas, Kongsberg Maritime and Kongsberg Defence Systems, have a high level of activity and good underlying operations", comments CEO Walter Qvam.

"The outlook is good for our defence area with significant prospects in several segments, while the outlook for the Group's oil and offshore-related units is less predictable. This uncertainty is somewhat offset by a robust backlog of orders, valued at about NOK 21 billion, which gives us a strong platform going forward", adds Qvam.

Significant opportunities in Kongsberg Protech Systems

"In Kongsberg Protech Systems the volume is still low, but we see great opportunities going forward, and we are currently intensifying the focus on our new medium calibre turret solution, the MCT-30. Kongsberg Oil & Gas Technologies went through a new round of capacity adjustments in Q2 due to a weak market ", concludes Qvam.

Further information

For further information, please contact:

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

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