Kongsberg Report 'Robust' Q3 2013

MarineLink.com
Sunday, November 03, 2013
CEO Walter Qvam: Photo courtesy of Kongsberg

KONGSBERG reports operating revenues in Q3 2013 of MNOK 3 448 (MNOK 3 675) and EBITDA of MNOK 518 (MNOK 646), resulting in an EBITDA margin of 15.0 per cent (17.6 per cent).

Kongsberg Maritime and Kongsberg Defence Systems have higher EBITDA's than in Q3 2012, while Kongsberg Protech Systems has lower EBITDA. During the quarter, the Group booked new orders valued at MNOK 3 688 (MNOK 3 495).


"KONGSBERG has had yet another robust quarter, characterised by a strong influx of new orders and good progress in three of four business areas: Kongsberg Maritime and Kongsberg Oil & Gas Technologies continue to grow and Kongsberg Defence Systems is still seeing a positive trend, with good contract opportunities. As expected, Kongsberg Protech Systems has experienced a slowdown", comments CEO Walter Qvam.

Kongsberg Maritime and Kongsberg Defence Systems reported higher EBITDA figures than in Q3 2012. Kongsberg Oil & Gas has an EBITDA margin of 7.0 per cent, and had a strong influx of new orders in Q3, mainly due to the Polarled contract with Statoil. Kongsberg Protech Systems posts an EBITDA of MNOK 66 (MNOK 210). Kongsberg Protech Systems’ Q3 profit is significantly lower than before due to the expected lower pace of deliveries to the CROWS programme.

 

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