Corrected: BUZZ-Kongsberg Gruppen slumps after Q2 miss in orders, soft cash position

Kongsberg Maritime ASA

13/07/2026 08:31

Corrects 3rd bullet point to say company's cash position was lower than forecast, not larger than forecast
 ** Shares in Kongsberg Gruppen KOG.OL fall more than 7% after the Norwegian defence and technology company posted orders in Q2 below estimates, while a recent spin-off affected its cash flow more than expected
 ** Its order intake in the quarter soared to 17.07 billion Norwegian crowns ($1.75 billion), but SB1 Markets analysts say it came 0.5 billion crowns below their estimates, even if adjusted for a major contract in Kuwait that is yet to be booked
** SB1 notes that the company's cash position of around 3 billion crowns at the end of the quarter was lower than forecast, hit by the spin-off of Kongsberg Maritime KMAR.OL
** Kongsberg Maritime flags a record high order backlog in its Q2 report, but its shares are down 4.8%
** Kongsberg Gruppen shares set for a worst day since October
($1 = 9.7639 Norwegian crowns)

(Reporting by Boleslaw Lasocki)
((boleslaw.lasocki@thomsonreuters.com))