Kongsberg Protech Systems News

Lisa Edvardsen Haugan was appointed as the new President of Kongsberg Maritime, the largest business area of Kongsberg, replacing  Egil Haugsdal starting in November 2022.Edvardsen Haugan has long and extensive experience from both the defense and civil business area in Kongsberg Gruppen ASA (KONGSBERG), including having been EVP Finance at Kongsberg Maritime and Finance Director at Kongsberg Protech Systems. She currently heads the Deck Machinery & Motion Control division of Kongsberg Maritime.“Following a thorough process to recruit a new leader for Kongsberg Maritime…

Egil Haugsdal has been selected to take over as President of Kongsberg Maritime. Haugsdal holds extensive leadership experience from KONGSBERG, currently leading Kongsberg Oil & Gas Technologies, with previous experience as Executive Vice President of Business Development and as President of Kongsberg Protech Systems. Haugsdal will assume his new position after a short period of overlap with current president Geir Håøy, who will assume the position of CEO of KONGSBERG in June 2016. “I am delighted with the confidence I have been given,” Haugsdal said.

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.

The company says it has installed 330 employees in a new building which will be the main headquarters for the Group's Oil & Gas business area in addition to accommodating some of the Group's defence activities. According to the cluster organisation 'Subsea Valley', the area between Fornebu and Drammen currently includes some 200 enterprises that represent nearly 57 000 workplaces and roughly NOK 111 billion in sales. The cluster organisation estimates that it has a market share in excess of 70 per cent of the global market for subsea technology.

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…