KONGSBERG increased its operating revenues by 29 per cent and recorded solid
growth in all business areas compared to 3rd quarter last year. The order intake
was NOK 11.3 billion and the order backlog increased to NOK 69.2 billion. In
addition, KONGSBERG signed a record NOK 16 billion contract with Poland, which
will be included in the order backlog when the contract becomes effective. 

3rd quarter 2023*:
-	The order intake was BNOK 11.3, corresponding to a book/bill of 1.14
-	Operating revenues was BNOK 10.0 compared to BNOK 7.7, an increase of 29 %
-	EBITDA was BNOK 1.6, up from BNOK 1.4 
-	EBITDA-margin was 16.3 % compared to 17.6 %
-	EBIT was BNOK 1.3, up from BNOK 1.0
-	EBIT-margin was 12.7 %, compared to 13.4 % 

*) compared to 3rd quarter 2022

Accumulated as of 3rd quarter 2023*:

-	The order intake was BNOK 33.3, corresponding to a book/bill of 1.18
-	Operating revenues was BNOK 28.7 compared to BNOK 22.4, an increase of 28 %
-	EBITDA was BNOK 4.4 up from BNOK 3.2
-	EBITDA-margin was 15.2 % compared to 14.3 %
-	EBIT was BNOK 3.3 up from BNOK 2.2
-	EBIT-margin was 11.6 %, up from 10.0 %

*) compared to accumulated as of 3rd quarter 2022

All business areas contribute to solid growth
The strong growth continued, and all KONGSBERG business areas contributed
significantly to the solid progress. Kongsberg Defence & Aerospace continued to
grow, particularly driven by missiles and weapon stations. Kongsberg Maritime
had increased activity in both the newbuilding and aftermarket. In Kongsberg
Discovery, the growth came mainly from deliveries to fisheries and research
vessels.

-We continued our growth and delivered close to NOK 10 billion in operating
revenues and an operating profit of NOK 1.3 billion in the quarter. So far in
2023, revenue growth is 28 per cent compared to last year. The Group's order
backlog is now more than NOK 69 billion. At the same time, we see significant
opportunities ahead, which will enable further backlog growth", says President
and CEO Geir Håøy of KONGSBERG.

Significant investments for continued growth
KONGSBERG has an order backlog of more than NOK 69 billion and is positioned for
further growth in the years to come. This requires increased capacity in terms
of employees, equipment, as well as new and more efficient production and
buildings. So far this year, more than NOK 1.4 billion has been invested in
property, plant and equipment. Of this, more than NOK 600 million is related to
the new missile factory being built in Kongsberg. The factory will be completed
summer 2024. In addition, KONGSBERG invests in new and existing facilities in
several locations in and outside Norway. 

Continuous investments are made in product development, both related to the
development of new systems and further development of existing ones. 

-KONGSBERG has an extensive product portfolio related to security, surveillance
and reduction of climate footprint through alternative energy sources and more
efficient energy utilisation. Every year, we invest considerable amounts in new
solutions and further development of the existing portfolio. If the world is to
achieve its climate ambitions, everyone must contribute. At the same time, it is
important that these investments become financially sustainable. Investing in
product development is therefore one of the most important things we can do for
a sustainable future, says Håøy. 


Record deal in Poland
In September, Kongsberg Defence & Aerospace signed an agreement with Poland for
delivery of a Naval Strike Missile (NSM) coastal defence system worth NOK 16
billion. This is the largest single contract in KONGSBERG's history. The coastal
defense system uses the NASAMS command and control system with the NSM. The
contract will be included in the order backlog when it becomes effective in
connection with signing the export financing.

-This is the largest single contract in KONGSBERG's history, and an important
milestone in our more than 200-year history. Poland has been a long-term partner
and we are proud to have signed this agreement. With the changed security
situation in Europe, Poland is determined to secure important defence
capabilities, and for KONGSBERG as an industrial partner, this ensures
predictability to invest and continue to build capacity to meet these needs,
says Håøy. 

Will continue to grow and deliver solid results
At the end of the 3rd quarter, KONGSBERG had an order backlog of NOK 69.2
billion, of which NOK 10.5 billion will be delivered in the 4th quarter 2023. 

-At our Capital Markets Day in 2022, we stated our ambition to deliver revenue
of more than NOK 40 billion in 2025. Our growth rate is higher than previously
anticipated, and we will most likely reach this goal ahead of schedule. But it
doesn't stop here. We have a record-high order backlog and we have never
experienced stronger demand for the total KONGSBERG portfolio. KONGSBERG's
ambition is to continue our growth journey, 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-tech systems and solutions to customers in the energy, merchant,
navy and defence and aerospace industries. Kongsberg has more than 12,000
employees in 39 countries and had total revenues of NOK 31.8bn in 2022.

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