Kongsberg Gruppen

Earnings Release • Oct 28, 2022

KONGSBERG achieved 25% revenue growth and record-high EBITDA during the quarter

KONGSBERG achieved 25% revenue growth and record-high EBITDA during the quarter

KONGSBERG increased its operating revenues by 25 per cent and grew all its business areas compared to the third quarter last year. The company also achieved record-high EBITDA of NOK 1.36 billion.

3rd quarter figures:

The operating revenues were MNOK 7,745 compared to MNOK 6,216 for Q3 2021

The order intake was MNOK 7,535 compared to MNOK 15,315 for Q3 2021

The EBITDA was MNOK 1,360 compared to MNOK 1,054 for Q3 2021

The EBITDA margin was 17.6% compared to 17% for Q3 2021

“KONGSBERG has maintained its positive trend and delivered a good result. We have increased the operating revenues across the company and delivered EBITDA of NOK 1.36 billion, higher than ever before. The sound margin is a result of good project execution and a favourable project mix. Kongsberg Maritime increased the activity of all divisions and grew its operating revenues by 26 per cent. Kongsberg Defence & Aerospace had a high level of activity, especially in the large air defence programmes, where there was considerable progress during the quarter. Kongsberg Digital put two new dynamic digital twins into operation and is experiencing growing demand for its solutions. I’m very pleased with the efforts all my 12,000 colleagues have made, and which have led to us delivering yet another strong quarter,” says Geir Håøy, the president and CEO of KONGSBERG.

Kongsberg Maritime (KM) achieved operating revenues of MNOK 4,690 during the quarter, just over half of which came from the aftersales market. The order intake of MNOK 5,632 produced a book-to-bill ratio of 1.20, is diversified and covers a wide range of segments.

Kongsberg Defence & Aerospace (KDA) increased its operating revenues by 24 per cent, to MNOK 2,802, and achieved an EBITDA margin of 21.5 per cent. The growth was mainly driven by good progress in its large air defence projects. KDA is currently experiencing increasing market activity in the missile sector and received a purchase order during the quarter for the delivery of Naval Strike Missiles (NSM) worth MNOK 328 to the US Navy under the Over-The-Horizon (OTH) framework agreement.

Kongsberg Digital (KDI) experienced good developments during the quarter, with operating revenues of MNOK 262, and grew its recurring revenues by 34 per cent to MNOK 122.

“The security situation in Europe has changed, and the security and sovereignty assertion of states have risen on the agenda. At the same time, the world must handle challenges relating to the energy supply and continue with the energy transformation. At KONGSBERG, we see it as our duty to actively help to solve these challenges using our technology, while at the same time there are considerable business opportunities involved in this. We are closely monitoring the various trends, are implementing measures as required, and have good control of our own operations,” says Håøy.

“Our order backlog was a sound NOK 54.1 billion at the end of the quarter, our tendering activity is record-high in all business areas, and we will achieve our target of more than NOK 30 billion in revenue in 2022. I’m sure that KONGSBERG will handle the external challenges, grasp new opportunities, and at the same time deliver sound results,” says Håøy.

CONTACT:

Ronny Lie

Chief Communication Officer

Kongsberg Gruppen ASA

(+47) 91 61 07 98

ronny.lie@kog.kongsberg.com

kongsberg.com

Jan Erik Hoff

Group Vice President Investor Relations

Kongsberg Gruppen ASA

(+47) 99 11 19 16

jan.erik.hoff@kog.kongsberg.com

kongsberg.com

KONGSBERG (OSE-ticker: KOG) is a leading global technology corporation delivering mission-critical systems and solutions with extreme performance for customers that operate under extremely challenging conditions. We work with nations, businesses and research environments to push the boundaries of technology development in industries such as space, offshore and energy, merchant marine, defence and aerospace, and more. KONGSBERG has over 11,000 employees located in more than 40 countries, creating a total revenue of NOK 27.5bn in 2021.

Follow us on: kongsberg.com, Facebook, Twitter and LinkedIn

This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Simen Lilleslåtten, Investor Relations at Kongsberg Gruppen ASA, on 28 October 2022 at 07:00 CEST.