Norway's Kongsberg Q1 revenue rises 26% but misses estimates

Kongsberg Gruppen ASA

06/05/2026 06:14

Overview

Norway defence technology firm's Q1 revenue rose 26% yr/yr but missed analyst expectations

Q1 EBIT increased 55% yr/yr, with EBIT margin at 16.6%

Order intake more than doubled to NOK 27 bln, driven by weapon stations and counter-drone systems

Outlook

Kongsberg expects 2026 revenue growth above 2025 levels

Company says record-high demand for solutions is driving outlook

Kongsberg sees strong demand across product portfolio due to increased defence investments

Result Drivers

DEFENCE DEMAND - Co said strong demand for defence products, especially weapon stations and counter-drone systems, drove Q1 growth

LARGE CONTRACTS - Major Q1 contract for counter-unmanned aerial systems to Poland contributed NOK 16 bln to order intake

GEOPOLITICAL TENSIONS - Co said rising geopolitical tensions and increased defence spending among NATO countries supported demand

Company press release: ID:nObiQm8MVa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Miss
NOK 9.20 bln
NOK 11.36 bln (3 Analysts)
Q1 EBIT
NOK 1.54 bln
Q1 EBIT Margin
16.60%
Q1 Orders
NOK 27 bln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the aerospace & defense peer group is "buy."

Wall Street's median 12-month price target for Kongsberg Gruppen ASA is NOK400.00, about 28% above its May 5 closing price of NOK312.50

The stock recently traded at 37 times the next 12-month earnings vs. a P/E of 30 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)