Kongsberg shares fall after Q2 results miss expectations

Kongsberg Gruppen ASA

09/07/2025 08:52

** Shares of Norwegian defence manufacturer Kongsberg Gruppen KOG.OL are down around 7.2%, after it reported second-quarter results, order intake below expectations

** SpareBank 1 Markets finds the report "net soft," with a quarterly EBITDA coming in below its expectations and consensus

** "While the adjusted EBITDA-miss includes some softer project mix, which is set to fluctuate between quarters, we are likely to lower our FY25 revenues and EBITDA in the core segments (KM+KDA) by 1-2% and 1-3%, respectively, on the updated backlog coverage and Q2 figures," it adds

** It notes that despite the headline EBITDA-as-reported beat, the order intake also missed its expectations

** Arctic Securities also notes adjusted EBIT fell on lower margins and sequential declines in key segments KM and KDA

** Up to the previous session's close, shares were up 44.2%​ year-to-date

 (Reporting by Marta Serafinko in Gdansk)

 ((Marta.Serafinko@thomsonreuters.com; +48 58 769 66 00;))