rss icon Subscribe
desktop mobile

Kongsberg Revenue Up in Challenging Maritime

Image by Kongsberg Maritime

Laxman Pai

Norwegian technology enterprise Kongsberg Maritime announced that it increased operating revenue to NOK 5,490m (USD 593mln) from NOK 2,041m (USD 220mln) in the fourth quarter.

Growth excluding acquired business is 21%, said a press release from the Kongsberg Gruppen (KOG) company. This is among other things driven by a high level of activity in the LNG and after-sales markets as well as by growth in the Sensors & Robotics area.

"Our maritime operations are growing in a market where the newbuilding activity is at an all-time low, at the same time as the organisation is integrating Commercial Marine and achieving considerable cost savings. I'm very pleased about this," said Geir Håøy, President and CEO of Kongsberg.

Order intake of NOK 6,934m compared to NOK 3,859m in Q4 2018. This is an increase of NOK 3,075m, of which NOK 1,954m comes from Commercial Marine.

Meanwhile, Kongsberg increased its operating revenue and profit and ended 2019 with a record-high revenue and order backlog. Thethe order intake for the year 2019 was NOK 32.45Bln compared to NOK 16.57Bln in 2018. This is an increase of 96%. Growth excluding acquisitions is 56%.

Revenues of NOK 24.08Bln compared to NOK 14.38Bln in 2018. This is an increase of 67%. Growth excluding acquisitions is 16%.

"In 2019, Kongsberg finalized two strategic acquisitions that make us a much larger company and a more complete supplier in the industries we serve. We have achieved a record-high order intake and continued to grow in all business areas and have launched new systems and products. The integration of Commercial Marine has been very successful so far, as clearly shown by the underlying profitability in the area. In addition, KONGSBERG experienced a very sound end to the year," added Geir.

Feb 12, 2020

 QRCode for link to Kongsberg Revenue Up in Challenging Maritime story
 

Technology

Tech File: Automating Ballast Ops When Installing BWMS

Image: W&O/EMI

Installing ballast water treatment systems to comply with new regulations will require owners to

Seastema Autopilot Achieves DNV GL Type Approval

(Image: Seastema)

Naval automation and navigation systems supplier Seastema said its SEAS-PILOT HCS autopilot system

Seatronx Launches Digital Matrix SCC

Photo: Seatronx

Seatronx announced the launch of the Seatronx Digital Matrix Switching Command Control system (SCC).

Marine Equipment

WinGD’s Dual-fuel 12X92DF Engine Gains BV Type Apprval

WinGD’s dual-fuelled X92DF engine, the first in a series that will power nine ULCS for CMA CGM Group (Photo: WinGD)

The biggest and most powerful liquefied natural gas (LNG)-fueled engine ever built has received

Vestdavit to Equip US Navy Expeditionary Sea Base Newbuilds

The ESB 6 and ESB 7 are being built by NASSCO to the same design as the earlier ESB4, USS Hershal ‘Woody’ Williams, Woody, here pictured during sea trials (credit: NASSCO).

Boat launch and recovery systems supplier Vestdavit said it will deliver motion-compensated davits

Cox’s Diesel Outboard Enters Production

(Photo: Cox Powertrain)

UK-based engine manufacturer Cox Powertrain said its purpose-designed 300hp CXO300 diesel outboard