Annual Report and Sustainability Report 2019

YEAR 2019

Important milestones 2019

KONGSBERG

  • Strong growth, both organic and through acquisitions.
  • Closed two acquisitions: Rolls-Royce Commercial Marine and Aerospace Industrial Maintenance.
  • Entering 2020 with a record high order backlog.
  • Became a significantly larger company and a more complete supplier within our product areas.

KONGSBERG DEFENCE & AEROSPACE

  • Won KONGSBERG’s largest contract ever for an air defence system for Qatar with a value of NOK 5.6 billion.
  • Other important contracts include NASAMS to Australia, JSM to Japan, mobile ground based air defense to the Norwegian defense and several contracts for remote-controlled weapon stations (RWS).
  • Good growth and profitability and high levels of activity.
  • Order intake of NOK 16 billion and an order backlog of NOK 20 billion at the year-end.

KONGSBERG MARITIME

  • The integration of Commercial Marine was the largest ever integration in KM. MNOK 260 of cost synergies were realised in 2019. The aim to realise a total of MNOK 500 has been brought forward by two years and will be realised by the end of 2020.
  • The business area is growing in 2019, also adjusted for acquisitions. There is a strong order intake, despite the new-build market being generally sluggish.
  • Successful delivery of comprehensive KONGSBERG technology for Johan Sverdrup field phase 1 and the start of phase 2.
  • Awarded contract for state-of-the-art semi-submersible drilling rig worth MNOK 350 for Keppel Offshore & Marine.

KONGSBERG DIGITAL

  • Kognifai Dynamic Digital Twin contract with Norske Shell for the Nyhamna gas production plant and a digitalisation partnership with Shell.
  • Launch of Vessel Insight, a data infrastructure solution for the maritime sector.
  • Turnover: MNOK 800, 25 per cent growth.
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