KONGSBERG signed new orders valued at NOK 5,015 million in the fourth quarter, and a cash flow of NOK 1,317 million. Accumulated for 2017 the Group has revenues of NOK 14,490 million, and an EBITDA of NOK 1,279 million.
Since the first space industry establishment in Tromsø in 1967 for research related activities, Kongsberg Satellite Services (KSAT) has grown to become a world leading and global commercial provider of satellite tracking and control, launch support and data reception.
Higher prices for fish and lower fuel prices have given the fishing industry a boost in recent years. Simrad in Spain, where the department in Villajoyosa recently took over a new 3,000-square meter premises, has noticed this.
KONGSBERG has a reduction in revenues in the third quarter of 2017, but restructuring measures improve profitability. The order backlog is at end quarter lower than previous quarters, but order intake within defence is expected to improve in the fourth quarter.
KONGSBERG has had good operational performance and strong cash flow in Q2 2017. Significant restructuring of the Group’s maritime business area has led to reduced costs, and important positions are being secured for future-oriented solutions and concepts.
When a pressured market created challenges for Kongsberg Maritime, developers drew up plans for how their business would survive. The solution was more integration and new vessel concepts based on a whole new strategy.