Kongsberg’s maritime-related units continued to bolster its performance in a profitable first quarter.
The Norwegian conglomerate reported a NOK 1.1bn ($102m) quarterly profit on Tuesday on the back of NOK 11.5bn in revenue, just over half of which came from its Kongsberg Maritime and Kongsberg Digital business segments.
“We have delivered another quarter with growth and good results,” said group chief executive Geir Haoy.
“Our key performance indicators have aligned with our projections, and our robust order intake and expanded backlog have set the stage for sustained progress in the coming years.”
Kongsberg Maritime — which develops ship designs and onboard systems for navies and commercial shipping — logged operating revenue of NOK 5.4bn, up from NOK 4.6bn over the same period last year.
The segment’s order intake swelled by NOK 6.2bn to NOK 20bn, and the company is bullish on future prospects as owners look to cut emissions from existing ships, and shipyards are fully booked.
Many of those orders have come from liner operators, and Kongsberg Maritime said it secured equipment delivery contracts to vessels exceeding NOK 50m each.
Kongsberg Digital, which provides software services to shipping and offshore oil and gas companies, brought in NOK 393m for the quarter.
It booked NOK 531m in new business during the quarter and its contract backlog stands at NOK 2.2bn, with high demand for digital twinning services and its Vessel Insight data collection and processing platform.
“Kongsberg Digital has significantly increased both operating revenues and recurring operating revenues in recent years,” the company said.
“There is considerable market interest in the business area’s digital solutions, encompassing both operational efficiency enhancements and climate-related aspects.”
