Mnok 3 941 News

Kongsberg reports Record-high new orders in Q1 2014

KONGSBERG reports Q1 operating revenues of MNOK 3 941 (MNOK 4 033) and EBITDA of MNOK 446 (MNOK 500), resulting in an EBITDA margin of 11.3 per cent (12.4 per cent). New orders were strong in both the maritime and defence segments, totalling MNOK 8 565 (MNOK 3 885) in Q1 and bringing the Group's backlog of orders to the highest level since 2009. Kongsberg Maritime (KM) had a very strong quarter, with sales growth of 17.8 per cent year-on-year (Y/Y), and a very good influx of new orders. Both KM and Kongsberg Defence Systems (KDS) have higher EBITDAs Y/Y, while Kongsberg Protech Systems (KPS) and Kongsberg Oil & Gas Technologies (KOGT) have experienced declines.