KONGSBERG delivered growth, strong results, and solid order intake in 2023. The
Group concluded the year with record-high order backlog of NOK 88.6 billion. The
Board proposes to the General Assembly a total dividend payment of NOK 2.46
billion, equivalent to NOK 14.00 per share. 

2023:
-	The order intake was BNOK 65.4 corresponding to a book/bill of 1.61
-	Operation revenues was BNOK 40.6 compared to BNOK 31.8 in 2022, an increase of
28 %
-	EBIT was BNOK 4.6 up from BNOK 3.3 in 2022
-	EBIT-margin was 11.3%, compared to 10.4% in 2022
-	EBITDA was BNOK 6.0, up from BNOK 4.6 in 2022
-	EBITDA-margin was 14.9 % compared to 14.5 % in 2022

4. quarter:
-	The order intake was BNOK 31.5 corresponding to BNOK 19.2 in Q4 2022
-	Operating revenues was BNOK 11.9 compared to BNOK 9.4, an increase of 26%
-	EBIT was BNOK 1.3 up from BNOK 1.1 in Q4 2022
-	EBIT-margin was 10.7% compared to 11.3% in Q4 2022
-	EBITDA was BNOK 1.7 up from BNOK 1.4 in Q4 2022
-	EBITDA-margin was 14.0% compared to 14.8% in Q4 2022

"KONGSBERG achieved a milestone by surpassing NOK 40 billion in revenue in 2023.
This accomplishment is a testament to our unwavering commitment to innovation
and the tireless efforts of our dedicated employees over the years. The world is
facing significant challenges related to security, climate and sustainability.
Our products and systems can help solve many of these challenges and have
resulted in a significant influx of orders throughout the year. At the end of
2023 we had a NOK 88.6 billion order backlog, in addition to several significant
framework agreements", says President and CEO of KONGSBERG Geir Håøy".

Based on this year's solid results and the Group's strong balance sheet, the
Board proposes a dividend of NOK 14 per share, of which NOK 7 is in excess of
the company's ordinary dividend policy. A total dividend payment of NOK 2.46
billion is proposed to the Annual General Meeting on 7 May 2024. The payment
will be made in two instalments, NOK 7 per share in May and NOK 7 per share in
October. "Our dividend policy dictates that we should have stable or increasing
ordinary dividends. The ordinary part of this year's dividend proposal is NOK 7
per share, which is almost double from last year's level. This increase is
proposed as a result of the positive future prospects we see for the company,"
says Chairman Eivind Reiten.
 
Solid growth and strong order intake in Q4
Operating revenues in Q4 increased 26 per cent from the corresponding quarter in
2022 and all business areas delivered strong growth. The order intake in the
quarter was NOK 31.5 billion, corresponding to a book/bill of 2.64. NOK 16
billion of the order intake is related to the contract for the NSM coastal
defence system to Poland, which became effective in the 4th quarter,
additionally order intake in Kongsberg Discovery, Kongsberg Digital and in
Kongsberg Maritime's aftermarket was strong.

"The results and order intake in Q4 continued the trend from recent years. We
had record high activity levels and we signed contracts of considerable size
throughout the quarter. Kongsberg Maritime's orders for new vessels were reduced
in the quarter, but order intake from the aftermarket continues to increase.
Kongsberg Defence & Aerospace delivered an all-time high order intake quarter of
almost NOK 25 billion.  Kongsberg Discovery continues its success towards both
national and commercial customers. Kongsberg Digital continues to grow and
increased both the number of installations and users of the digital solutions",
says Håøy.

Anticipated growth ahead
In recent years, KONGSBERG has achieved strong results, demonstrated good
adaptability, delivered significant growth and improved results. The company's
order backlog at the end of 2023 was NOK 88.6 billion. Of this, NOK 30.8 billion
will be delivered during 2024. 

Kongsberg Maritime is exposed to newbuilds and aftermarkets in a wide range of
segments, from traditional merchant fleets to more advanced vessels performing
complex marine operations. A generally ageing vessel fleet and stricter
requirements related to emissions necessitate upgrades, gives expectations of
continued high activity also in the aftermarket. 

Kongsberg Defence & Aerospace has grown significantly in recent years and has an
order backlog of NOK 65.4 billion at the end of 2023. Anticipation of sustained
growth lie ahead, particularly driven by missile deliveries. In order to secure
deliveries on existing orders and meet the significant demand, investments are
being made in increased production capacity for missiles. The new factory will
be operational in summer 2024. 

Kongsberg Discovery has world-leading technology and deep domain knowledge
within fisheries, marine research, marine operations and monitoring of critical
infrastructure. There is great demand for technology in all these segments,
which provides the basis for continued growth.

There is considerable attention from the market for Kongsberg Digital's
solutions, both related to streamlining operations, as well as from a climate
perspective. Strong demand, as well as framework agreements already signed,
provides a solid foundation for sustained growth.

"KONGSBERG is an ocean space expert, and we have solutions that reduce the
climate footprint of the maritime industry. Our sensor and robotics solutions
are important for utilizing and taking care of the resources found in the sea.
We have security and defence solutions that are in demand from many parts of the
world, and we have digital expertise in both the energy and maritime sectors. At
the same time, we live in a world that faces many challenges where technology
will be an important part of the solution. We have a record-high order backlog
and have never been more strongly positioned. We continue to invest
significantly, both in expertise and capacity. This provides a good basis for
growth also in 2024," concludes Håøy.

For more information 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 an international, knowledge-based group that
supplies high-technology systems and solutions to customers in a wide range of
markets such as defence, security, maritime, energy, aerospace, climate mapping
and subsea technology. KONGSBERG has more than 13,500 employees in 39 countries
and has a total turnover of NOK 40.6 billion in 2023.

Følg oss på: kongsberg.com, Facebook, Twitter og LinkedIn