Kongsberg Gruppen hits record high as profit soars on defence demand

Kongsberg Gruppen ASA

08/05/2025 10:01

** Shares Kongsberg Gruppen KOG.OL are up about 4.5% after the Norwegian defence equipment maker's Q1 earnings beat estimates, helped by European defence spending

** It posted Q1 EBITDA soaring 81% to NOK 3.29 billion  ($317.39 million) year-on-year

** DNB expected EBITDA to end at NOK 2.2 billion, which it said was in line with consensus estimates

** Kongsberg Gruppen's order intake rose 63% to NOK 20.74 billion from year ago, above DNB expectation of NOK 14.8 billion

** Half of the quarterly order intake is attributed to Kongsberg Gruppen's defence and aerospace unit, the company said

** Kongsberg said that demand for missile and air defence systems has contributed to a significant increase in its order backlog and has been an important driver for its capacity expansions

** The stock reached its highest price ever, and is among best performers on European STOXX 600 index .STOXX

($1 = 10.3658 Norwegian crowns)

 (Reporting by Marta Frackowiak)

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