KONGSBERG increased its operating revenues by 12 per cent and grew all its
business areas compared to the second quarter of last year. The EBITDA was just
over NOK 1 billion and the order intake came to almost NOK 11 billion.

2nd quarter: 
    The order intake was MNOK 10,945 compared to MNOK 5,554 for Q2 2021 (+ 97 %)
    The operating revenues were MNOK 7,567 compared to MNOK 6,762 for Q2 2021 (+
12 %)
    The EBITDA was MNOK 1,012 compared to MNOK 993 for Q2 2021
    The EBITDA margin was 13.4% compared to 14.7% for Q2 2021

"KONGSBERG maintained its good progress and had strong growth in its order
intake and operating revenues in the second quarter. The order backlog has
increased to about NOK 54 billion. Kongsberg Maritime had a record-high order
intake during the quarter and its operating revenues grew by 14%, while
Kongsberg Defence & Aerospace increased its operating revenues by 10 per cent
and produced an EBITDA margin of more than 20% despite continued delays in
weapon station deliveries. Kongsberg Digital increased both its operating
revenues and recurring operating revenues. All the business areas have grown and
I'm very pleased with the quarter," says Geir Håøy, President and CEO of
KONGSBERG. 

Strong order intake
Kongsberg Maritime (KM) had an order intake of NOK 6.6 billion, which is 57 per
cent higher than in Q2 2021. There was strong order intake both from the after-
market and for deliveries to new vessels. At the same time, there is also a very
good order intake from the Sensors & Robotics area, among other things linked to
the Hugin family of autonomous subsea vessels. 

The order intake of Kongsberg Defence & Aerospace (KDA) came to NOK 4.1 billion,
equal to a book-to-bill ratio of 1.52. A new significant contract for deliveries
to the F-35 programme and a start-up order for deliveries of the Naval Strike
Missile (NSM) to Australia were just two of the agreements entered into during
the quarter. 

Kongsberg Digital (KDI) continued to sign up new customers for its digital
solutions, and the number of both customers and installations in operation
increased. This included a contract for the delivery of a further four digital
twins to one of the world's largest oil and energy companies, as well as a
contract with Mediterranean Shipping Company for the digitalisation of almost
500 vessels.

In total, the Group's order backlog increased by NOK 3.9 billion during the
quarter and now stands at NOK almost 54 billion.

Vigilance and continual measures
The world is currently experiencing increasing inflation, logistics difficulties
and component shortages. This also affects KONGSBERG both directly and
indirectly.

"KONGSBERG's deliveries consist to a large extent of systems and products
composed of a considerable number of components. Even with the beforementioned
delays linked to remote weapon stations, we feel we have a generally good
overview of the component situation. We are also affected by high inflation.
This requires an extra level of vigilance, and we are continually implementing
measures to neutralise any negative consequences. For some of our order backlog,
we have inflation adjustment clauses in the contracts. The part of the order
backlog that does not have such clauses mainly consists of contracts with a
shorter delivery horizon or where the cost picture is tied to subcontractors,"
says Håøy.

Solid foundation for continued growth
"The current turbulent state of the world leads to more unpredictability in the
short term than we have had for the past few years. At the same time, we have a
solid foundation and a record-high order backlog. Our positions in both
established and new markets have never been stronger. This makes me confident
that KONGSBERG will grasp new opportunities and while also dealing with the
external challenges. In total, we expect our operating revenues to continue to
grow and we are on schedule to achieve our ambitions for 2022," 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 a leading global technology corporation
delivering mission-critical systems and solutions with extreme performance for
customers that operate under extremely challenging conditions. We work with
nations, businesses and research environments to push the boundaries of
technology development in industries such as space, offshore and energy,
merchant marine, defence and aerospace, and more. KONGSBERG has over 11,000
employees located in more than 40 countries, creating a total revenue of NOK
27.5bn in 2021.
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