KONGSBERG - News

KONGSBERG contract for delivery to NATO's Alliance Ground Surveillance (AGS)

Mon, 21 May 2012 08:40:00 +0200

During NATO's Summit in Chicago, KONGSBERG signed a EUR 28 million contract with Northrop Grumman ISS International Inc for the development of software to the NATO AGS program. KONGSBERG will develop solutions for storing, searching and retrieval of advanced sensor data from the RQ-4 Global Hawk. The contract extends over the next 3.5 years.

Photo: Northrop Grumman Corp.

NATO is in the process of acquiring the RQ-4 Global Hawk Unmanned Aerial Vehicles (UAVs) for ground- and sea surface surveillance, to which KONGSBERG, together with Cassidian and Selex Galileo, are the main-sub suppliers to Northrop Grumman ISS International Inc. The total industrial participation in the program will be coordinated by leading defense corporations in the 13 participating NATO AGS nations. The contract involves the purchase of five RQ-4 Global Hawk units and associated ground systems.

“We are very pleased to win this contract and to become a key contributor to this new NATO capacity. KONGSBERG is already a supplier to the NATO AWACS program and this new contract means that we are strengthening our presence in major NATO programs”, says Harald Ånnestad, President in Kongsberg Defence Systems

"This contract provides development tasks for completely new software and algorithms solutions. The technology is exciting and forward-looking and may be used in other areas in the defence and security context", says Eirik Lie, Executive Vice President in Kongsberg Defence Systems.

For more information, please contact:

Eirik Lie, Executive Vice President, Kongsberg Defence Systems, Mob +47 917 04 933.

Showcasing environmental monitoring

Mon, 14 May 2012 13:27:00 +0200

Thanks to monitoring systems from KONGSBERG, underwater operations can be more environment-friendly. The need for environment-friendly maritime operations is highlighted at Expo 2012.

More stringent environmental standards

Owing to increasing pressures on ocean territories, ever more stringent environmental standards are being set for vessels and offshore operations. Having real-time eyes and ears under water and on the seabed can reduce the environmental and economic consequences of such operations. By combining this information with satellite monitoring, users will get a decision-support system that can enable them to make better decisions.

This particular kind of technology is one of the main focal points at the world's fair 'Expo 2012' in Yeosu, South Korea, where KONGSBERG is one of the sponsors of the Norwegian pavilion. Sustainability, marine resources and the maritime sector are the main themes of this year's world's fair.

Minister of Trade and Industry Trond Giske, the Norwegian crown prince Haakon and Secretary

Kristine Gramstad from Ministry of Fisheries get a guided tour of the Norwegian pavilion where

KONGSBERG is one of the sponsors.

Technology will help promote more sustainable development

Along with Statoil, IBM and Det Norske Veritas (DNV), KONGSBERG is developing a system known as Integrated Environmental Monitoring which will be a sensor-based system designed to monitor the seabed in real time during drilling and production. The point is to prevent discharges of environmental toxins. As an advanced technology company that operates in more than 25 countries, KONGSBERG believes it is important that the Group's technology helps promote more sustainable development.

“From our technological vantage point, we see many ways in which we can contribute to more sustainable development. This is the technology of the future. Asia is a large and important market, so it is essential for us to maintain a presence there", comments Even Aas, Executive Vice President for Public Affairs at KONGSBERG.

The Norwegian king witnessed NSM demonstration

Thu, 10 May 2012 17:48:00 +0200

King Harald of Norway and Polish authorities witnessed a successful demonstration of KONGSBERG's Naval Strike Missile this morning.

The demonstration was part of the State visit by King Harald and Queen Sonja to Poland this week. The Polish Navy has signed a contract for the Naval Strike Missile (NSM) coastal artillery system made by KONGSBERG. Initially placed in 2008, the order currently carries a price tag of about NOK 1.5 billion.

The Norwegian king Harald and Executive Vice President, Harald Ånnestad of

Kongsberg Defence Systems.

“As head of KONGSBERG, I am very pleased to see not only growth in trade with our group, but also a general strengthening of industrial relations between our two nations", comments Walter Qvam, Chief Executive Officer of KONGSBERG, in connection with the state visit.

The demonstration was organised through cooperation between KONGSBERG and the Polish authorities. In addition to Norway's King, the demonstration was attended by the Norwegian Defence Minister Espen Barth Eide (Labour) and representatives of the Polish authorities. As a member of NATO and the EU, Poland is an important partner for Norway, and the country has seen strong growth in retail sales in recent years. While several other European countries have been marked by the financial crises, Poland has experienced healthy growth.

In his speech earlier in the day, CEO Walter Qvam underscored the importance of long-term industrial cooperation with Poland, pointing out the opportunities that this entails. "We can challenge each other and explore international industrial opportunities together", he said.

For further information, please contact:

Kyrre Lohne, Vice President, Strategic Communications, Kongsberg Defence Systems
mobile: + 47 920 60081

Seacor Marine chooses Kongsberg Maritime systems for world's first DP3 class crew boats

Wed, 09 May 2012 15:27:00 +0200

Annual General Meeting 2012

Mon, 07 May 2012 16:25:00 +0200

Kongsberg Gruppen ASA held its ordinary Annual General Meeting in Kongsberg today. The Board of Directors` Annual Report and Financial Statements for 2011 were approved unanimously. It was decided to pay a dividend of NOK 3.75 for 2011.

Roar Flåthen was elected as Deputy Board Member.

The Nominating Committee for the coming two-year period will be Sverre Valvik (re-elected), Knut J. Utvik (re-elected), and Alexandra Morris (re-elected).

The Board was given authorisation to buy treasury shares for a nominal value of up to NOK 7 500 000. The authorisation applies for 12 months from the date of the Annual General Meeting.

See the signed minutes here (pdf in Norwegian only. Will be translated)

Webcast Q1 2012

Thu, 03 May 2012 21:43:00 +0200

Results 1Q 2012

Thu, 03 May 2012 20:30:00 +0200

Kongsberg Gruppen (KONGSBERG) reported a solid first quarter in 2012.

Q1 operating revenues came to MNOK 3 836, and the EBITA totalled MNOK 482. This resulted in an EBITA margin for the Group of 12.6 per cent, compared with 13.8 per cent in Q1 2011. Earnings per share (EPS) came to NOK 2.66 in Q1 2012.

At 31 March, the Group had an equity ratio of 39.9 per cent and there was a satisfactory influx of new orders. Kongsberg Maritime is still seeing a positive trend, booking new orders valued at MNOK 2 541 this quarter, compared with MNOK 2 082 in Q1 2011.

“The Group is off to a satisfactory start for the year. It is especially gratifying to see that Kongsberg Maritime's 'Full Picture' strategy generated substantial new orders during the quarter", comments CEO Walter Qvam.

For more information, please contact:

Jan Erik Hoff, Vice President, Investor Relations & Reporting, mobile: + 47 991 11916
Ronny Lie, Communications Director, mobile: + 47 916 10798

Notification of the Annual General Meeting 2012

Mon, 16 Apr 2012 09:58:00 +0200

KONGSBERG's Annual General Meeting 2012 will be held on Monday, 7 May at 2 pm in the Conference Center at Kongsberg Technology Park. Shareholders who wish to attend the General Meeting are asked to notify by 4 May 12.00 pm.

Corporate Social Responsibility Report 2011

Thu, 12 Apr 2012 15:03:00 +0200

Annual Report 2011

Wed, 11 Apr 2012 14:29:00 +0200

Contract with French Renault Truck Defense on Remote Weapon Systems

Fri, 30 Mar 2012 09:15:00 +0200

KONGSBERG has booked an order on the remote weapons stations (RWS) valued at NOK 100 millions from the French Renault Truck Defense. The order is part of the NOK 500 million framework agreement with delivery of the PROTECTOR weapon control system to upgrade the French Army`s Renault VAB 4x4 armored personnel carriers. The order was disclosed on 2nd May 2008.

For further information, please contact:
President Egil Haugsdal, Kongsberg Protech Systems, tel: +47 32 28 77 20

Learned more about KONGSBERG

Thu, 29 Mar 2012 11:15:00 +0200

“ In my international work and conversations with authorities, it is useful to have some deeper understanding of KONGSBERG”, said Crown Prince Haakon when he visited KONGSBERG.

KONGSBERG is one of the large Norwegian corporations the Crown Prince meets when he travels around the world.

Wednesday March 28 he was on a three-hour working meeting with CEO Walter Qvam and the rest of corporate management in KONGSBERG.

The program included financial status, values and market position, growth, the pursuit of skilled labor, processing of the international market and the opportunities and challenges in the various markets.

Focus on social responsibility

The Crown Prince was enthusiastic about KONGSBERGs with corporate social responsibility, environmental and climate issues, human rights and ethical rules.

“I think it is great that you have a strong focus on this and think it is important”, said Crown Prince Haakon.

It was also discussed how to ensure the highest possible impact for the industry at state visits. In May, the Crown Prince and KONGSBERG attend EXPO2012.

- We focus on a joint push for Norway at EXPO2012 in South Korea, said a smiling Crown Prince.

At the same time he emphasized that it was exciting for him to represent Norway at different levels around the world, both in terms of culture and commerce.

From left: president Kongsberg Defence Systems Harald Aanestad, president Kongsberg Maritime

Geir Haaøy, Crown Prince Haakon Magnus, CEO KONGSBERG Walter Qvam and

Executive Vice President Public Affairs Even Aas.

Financial Statements 2011

Wed, 28 Mar 2012 15:20:00 +0200

The Board of Directors of Kongsberg Gruppen ASA has approved the financial statements for 2011. The group financial statements for 2011 are in accordance with the preliminary financial statements for 2011 dated 9 February 2012 and show a profit after tax of MNOK 1 430 and total equity of MNOK 5 484.

2012 is also expected to be a good year for KONGSBERG, cf. the description of prospects in the report for Q4 2011. However, for Kongsberg Protech Systems the uncertainty has increased, and due to changes in delivery schedules and delays in new orders, the business area's level of activity is expected to be lower in 2012 than in 2011.

The Annual Report for 2011 will be published on the company's website and notified to the Oslo Stock Exchange in April 2012, and the company's Annual General Meeting will be held on 7 May 2012.

For further information, please contact:

Mr Jan Erik Hoff, Vice President Investor Relations and Reporting
Phone (+47) 32 28 83 30, Mob (+47) 99 11 19 16

Contract for weapon control systems valued at a total of MNOK 108

Wed, 29 Feb 2012 08:49:00 +0100

KONGSBERG has received an order from General Dynamics Land Systems valued at MNOK 108 for the delivery of Protector weapon control systems for armored personnel carriers, Stryker, to the US Army. The Protector weapon control system protects military troops by allowing the vehicle's weapons to be operated from a protected position inside the vehicle.

For further information, please contact:
President Egil Haugsdal, Kongsberg Protech Systems, tel: +47 32 28 77 20

Orders worth 200 MNOK for deliveries to F-35 Joint Strike Fighter

Tue, 14 Feb 2012 14:45:00 +0100

KONGSBERG has received three orders with a total value of MNOK 200 for deliveries of Rudders & Vertical Leading Edges, Centre Fuselage Parts and Air to Air Weapon Pylons for F-35 Joint Strike Fighter.
Two of the orders are based on frame agreements signed in 2008 and 2009 with Lockheed Martin and Northrop Grumman. The orders include deliveries to 30 aircrafts.

The third order marks the start of deliveries to contracts partner Marvin Engineering Corporation.

For further information, please contact:
Terje Bråthen, Executive Vice President, Aerostructures, Kongsberg Defence Systems, Mob (+47) 90557641

Mr Christian Hauglie-Hanssen, Executive Vice President, F-35 Programme, Kongsberg Defence Systems, Mob (+47) 92060043

Performance in Q4 2011

Fri, 10 Feb 2012 07:00:00 +0100

KONGSBERG reports good performance in Q4 2011, laying a sound foundation for 2012.

Q4 revenues totalled MNOK 3 883. The EBITA came to MNOK 544. This results in an EBITA margin for the Group of 14.0 per cent, compared with 18.5 per cent in Q4 2010. Earnings per share (EPS) came to NOK 2.98 in Q4.
Accumulated operating revenues for 2011 added up to MNOK 15 128. This is roughly the same level as in 2010, resulting in an EBITA margin of 14.1 per cent.

At year end, the Group had net cash reserves of MNOK 2 191 and an equity ratio of 35.1 per cent.

“Despite the uncertainty in the world economy in 2011, KONGSBERG managed to maintain its operating revenues and profitability. KONGSBERG also continued to build a sound backlog of orders. All in all, the Group is well positioned in the shipping, offshore and defence markets at the beginning of 2012", comments CEO Walter Qvam.

For further information, please contact:
Jan Erik Hoff, Vice President, Investor Relations & Reporting
Telephone +37 322 88330, mobile +47 991 11916

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Webcast Q4 2011

Thu, 09 Feb 2012 11:20:00 +0100

KONGSBERG's live presentation of 4th quarter 2011:

Contract for Supply of Combat Management System to Norwegian Submarines

Mon, 16 Jan 2012 14:12:00 +0100

KONGSBERG has signed a contract for supply of the MSI-90U Mk 2 Combat Management System (CMS) to the Royal Norwegian Navy’s Ula class submarines. This contract is made between the Norwegian Defence Logistics Organisation and KONGSBERG. The contract value is approx. 200 MNOK.

KONGSBERG has for 40 years supplied Command & Weapons Control Systems to Norwegian, German and Italian submarines and this contract results in an important renewal of our product range for submarines. The contract is the result of a long term effort to strengthen our position as supplier of complete integrated Navigation, Sonar and Command & Weapons Control Systems for submarines.

"This new contract for delivery of the MSI-90U Mk 2 CMS is a continuation of the on-going contracts for delivery of the new Passive Sonar System and integrated Submarine Navigation System for the Ula class. In this context this is yet another very important reference contract for KONGSBERG”, says Executive Vice President Nils-Oddvar Hagen in Kongsberg Defence Systems.

MNOK 712 NSM contract with Poland approved

Wed, 28 Dec 2011 12:37:00 +0100

The contract that KONGSBERG announced on 7 December 2010 with the Polish Ministry of Defence for additional NSMs (Naval Strike Missiles) has been approved. This contract is an extension to the basic contract, which was signed on 30 December 2008. Compared with the press release published in December 2010, the scope and value of the contract has increased and the order for MNOK 712 will be booked in Q4 2011.

KONGSBERG has been contracted to supply an NSM-based Coastal Defence System to the Polish Navy. The Coastal Defence System is on track to commence in 2012, deliveries will encompass NSMs for use in conjunction with a command and weapon control system similar to KONGSBERG's renowned NASAMS air defence system. Earlier in 2011 NSM launched from the Polish Coastal Defence System again demonstrated its capabilities as the most advanced strike missile against land and sea targets.

KONGSBERG will be subcontracting with a large number of Polish enterprises, engaging them in close cooperation that will involve technology transfer and long-term partnerships. Some of the core components of the system, e.g. the radar system, communications system and the trucks to carry the launch ramps, are being developed and delivered by Polish industry.

KONGSBERG awarded major Nordic contract

Wed, 21 Dec 2011 11:10:00 +0100

The "Nordic" Remote Weapon Stations are

the most technically advanced RWS

ordered to date.

KONGSBERG has been awarded a framework agreement valued at MNOK 960 for delivery of PROTECTOR "Nordic" Remote Weapon Stations for the Norwegian and Swedish Armed Forces. The contract is an extension of the agreement disclosed 31 January 2011. At the same time a delivery contract valued at MNOK 380, within the framework agreement, was signed.

KONGSBERG has produced and delivered Remote Weapon Stations (RWS) for over a decade and this contract reflects one of the most technically advanced RWS ordered to date. The new order includes systems for both the Norwegian and Swedish Defence Forces, forming a solid foundation for cooperation in Nordic material programs.

The PROTECTOR Remote Weapon Station provides enhanced protection and security for the men and women serving in the armed forces by enabling operations to be conducted from a protected position inside the vehicle.

"Our systems have been used under extreme conditions for many years, and have proven to be a valuable asset for our customers and the soldiers serving in the field," says Egil Haugsdal, President Kongsberg Protech systems.

"These two customer nations are strategically important to KONGSBERG as key Nordic nations. Cooperation with both Norway and Sweden is an important focus in the company and we are looking forward to executing this program together with our customers."

The systems will be produced in Kongsberg, and deliveries are expected to commence medio 2012.

Developing Integrated Environmental Monitoring System

Tue, 13 Dec 2011 16:07:00 +0100

In order to reduce the environmental risks from oil and gas operations, a consortium consisting of KONGSBERG, IBM, and DNV will now develop a real-time environmental monitoring solution together with their client Statoil. The 150 MNOK project is led by KONGSBERG and will use integrated technology to create a step change for the operators’ access and operational usage of environmental data.

On behalf of the consortium, KONGSBERG has been awarded a contract by Statoil Research and Development Center in Trondheim for developing an Integrated Environmental Monitoring System.

The project value of 150 MNOK include Statoil`s project work and cash contribution and the consortium’s contribution. The contract period is 3 years ending with a solution ready for pilot implementation at an operational asset. The project is part of Statoil`s “New Energy and HSE” R & D program.

KONGSBERG has formed a consortium with four members with a unique technology base to fulfill the project scope. The consortium is lead by Kongsberg Oil & Gas Technologies, and includes Kongsberg Maritime Subsea providing sensor and communication technologies, IBM providing information integration and business analytics technology, and DNV providing marine environmental analytics and risk management practices. Statoil will have an active role in the project contributing with domain knowledge within offshore oil and gas operations.

The consortium represented by Karl Johnny Hersvik, Statoil, Jens Eirik Ramstad, Det Norske Veritas,

Morten Thorkildsen, IBM Norway, Vidar Hepsø, Statoil and Even Aas, KONGSBERG.

The purpose of the project is to demonstrate solutions for continuous environmental monitoring of operations in sensitive areas covering all phases of an offshore operation, i.e. from preparation, drilling, production and demobilization. A major benefit will be to include the environmental monitoring into the daily operation for early detection and reaction to potential environmental impact.

“KONGSBERG considers this project as an important step in its long-term strategy in developing integrated, continuous environmental monitoring systems to meet a growing demand for early detection and quicker response related environmental impact from offshore oil and gas activities”, says Even Aas, Executive Vice President KONGSBERG.

“Based on our global leadership in environmental risk management and offshore HSE, DNV’s motivation is to set the standard for environmental monitoring. The development of efficient solutions for early warning monitoring and analysis of operations in sensitive areas will be of an unparalleled value to the industry. A major benefit will also be the integration of environmental monitoring into the daily operation”, says Jens Eirik Ramstad, Associate Director in Det Norske Veritas.

330 MNOK satellite contract

Mon, 12 Dec 2011 09:02:00 +0100

TT&C services are part of KSAT's integrated

operations.

Kongsberg Satellite Services (KSAT) is awarded a contract for delivering ground station services to the American company GeoEye. The service will be delivered from the KSAT Ground Network. The Ground Stations will be operated from KSAT’s main office in Tromsø. The contract is for 5 years of operation. The contract value is apprx. MNOK 330.

KSAT is a commercial satellite centre owned 50 percent by KONGSBERG and 50 percent by the Department of Trade and Industry through the Norwegian Space Centre Property. KSAT is situated in Tromsø, Norway with ground stations in Tromsø, Svalbard, Grimstad, Dubai, South Africa, Singapore, Mauritius and the Antarctic. KSAT is immaculately located for both TT&C (Telemetri Tracking & Control), launch support, as well as data reception and Near real time Earth Observation services.

KONGSBERG wins Marine Automation Systems contract for two drilling rigs

Mon, 12 Dec 2011 02:15:00 +0100

KONGSBERG has been awarded a significant offshore automation contract with Daewoo Shipbuilding & Marine Engineering (DSME). The contract covers deliveries to two semi-submersible drilling rigs (Cat-D), with an option for KONGSBERG to deliver products and services for two more semi-submersible drilling rigs.

"This is what we call a 'Full Picture' solution from Kongsberg Maritime, as it includes systems for dynamic positioning, thruster control, bridge navigation, vessel automation, safety, riser management and environmental monitoring. Our strategy is to take on more responsibility in the value chain by offering a full range of Integrated Automated Marine Systems. This contract was won as a direct result of this approach. Close collaboration with the customer and a commitment to understanding the extreme contexts in which our technology is applied are important driving forces behind this award", says Geir Håøy, President Kongsberg Maritime.

Kongsberg Maritime will commence deliveries early next year, including engineering services at the yard in Korea. All key deliveries from KONGSBERG are scheduled for completion by December 2012. Startup, commissioning and trials are scheduled to be completed in Q1 and Q3 2014.

"The competition is strong and we are very pleased to have secured this contract. It is a clear demonstration of our capabilities in this field. I am also very pleased with the hard work performed by our international offshore team", concludes Tor Erik Sørensen, Executive Vice President Kongsberg Maritime.

KONGSBERG signs NASAMS Air Defence upgrade contract worth 360 MNOK

Tue, 29 Nov 2011 19:00:00 +0100

The new High Mobility Launchers means

increased mobility.

KONGSBERG has signed a 360 MNOK contract to deliver an upgrade of NASAMS air defence system to the Royal Norwegian Air Force. The NASAMS system is produced by KONGSBERG and Raytheon, and the upgrade will be delivered within a 2-year timeframe. The upgrade consists of deliveries of new High Mobility Launchers for increased mobility, upgrade of the existing FDC Command & Control centres and associated training facilities.

“We are very satisfied with the fact that NASAMS has been selected for an upgrade. NASAMS is the back-bone of Norwegian ground based air defence, and is the preferred medium range air defence system in NATO, says Eirik Lie, Executive Vice President, Kongsberg Defence Systems”.

Contract for weapon control systems valued at a total of MNOK 145

Fri, 11 Nov 2011 10:32:00 +0100

KONGSBERG has received an order from General Dynamics Land Systems valued at MNOK 145 for the delivery of Protector weapon control systems for armored personnel carriers, Stryker, to the US Army. The Protector weapon control system protects military troops by allowing the vehicle's weapons to be operated from a protected position inside the vehicle. For further information, please contact: President Egil Haugsdal, Kongsberg Protech Systems Tel: +47 32 28 77 20 KONGSBERG (OSE Ticker: KOG) is an international, knowledge-based group that supplies high-technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine industry, and the defence and aerospace industries. In 2010, KONGSBERG had a turnover of NOK 15.5 billion, and the Group had 5 681 employees in more than 25 countries. This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

Hans-Jørgen Wibstad appointed Chief Financial Officer at Kongsberg Gruppen ASA

Thu, 10 Nov 2011 09:20:00 +0100

Hans-Jørgen Wibstad (47) has been appointed Executive Vice President (EVP) and Chief Financial Officer (CFO) at the technology corporation KONGSBERG. He will also be member of Corporate Executive Management. He comes from a position as SVP Finance at STX Europe and has extensive executive management experience from CFO and CEO positions with several Norwegian and international shipping and offshore companies. Wibstad will succeed Arne Solberg on 1 January 2012. Solberg will be moving on to a new role, where he will address a variety of corporate assignments.

“We are very pleased that Hans-Jørgen will be our new CFO and we look forward to welcoming him to our team early next year”, remarks CEO Walter Qvam.

Hilde Øygarden appointed Executive Vice President, Head of Strategy and Analysis

Thu, 10 Nov 2011 09:06:00 +0100

Hilde Øygarden has extensive experience

from several corporate roles.

Hilde Øygarden (46) has been appointed EVP, Head of Strategy and Analysis, and she will join KONGSBERG's Corporate Executive Management on 1 January 2012. Øygarden has extensive experience from several corporate roles at KONGSBERG, most recently as Head of Finance and Reporting.

“Hilde will add considerable capacity, knowledge and experience to our strategy and analysis processes”, comments CEO Walter Qvam.

Capital Markets Day 2011

Thu, 10 Nov 2011 08:04:00 +0100

Presentations of the Group from the Capital Markets Day 2011:

KONGSBERG - Walter Qvam, Chief Executive Officer and Arne Solberg, Executive Vice President and Chief Financial Officer
Kongsberg Oil & Gas Technology - Pål Helsing
Kongsberg Defence Systems - Harald Ånnestad, Executive Vice President
Kongsberg Protech Systems - Egil Haugsdal, Executive Vice President
Kongsberg Maritime - Geir Håøy, Executive Vice President

For further information, please contact:
VP Investor Relations Jan Erik Hoff, tel: +47 322 88 330, mob: +47 991 11 916.

Good margins and a strong influx of maritime orders

Wed, 26 Oct 2011 07:00:00 +0200

Kongsberg Gruppen (KONGSBERG) reports good results also in Q3 2011.

The Q3 EBITA was MNOK 565, on a par with the corresponding quarter of 2010. Operating revenues totalled MNOK 3 460. This gives an EBITA margin of 16.3 per cent, compared with 14.9 per cent in Q3 2010. Q3 earnings per share (EPS) totalled NOK 3.18. YTD operating revenues at Q3 were at the same level as in 2010 and the EBITA was up MNOK 116, leading to a YTD EBITA margin of 14.1 per cent in 2011. At the end of Q3, the Group had net cash reserves of MNOK 728 and an equity ratio of 37.6 per cent.

"Our high technology platform, good sales and our focus on efficient operations contributes to the positive results for the Group. We are very pleased that the strong influx of new orders is continuing for our maritime businesses, and that the Group’s position in our niche defence technologies is very strong, comments CEO Walter Qvam.

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Webcast Q3 2011

Tue, 25 Oct 2011 22:17:00 +0200

KONGSBERG's live presentation of 3rd quarter 2011:

KONGSBERG signs deal with offshore intallation group

Mon, 24 Oct 2011 10:39:00 +0200

Major new project increases safety and reduces risk of flow line installation

Kongsberg Oil & Gas Technologies (KOGT), a wholly-owned subsidiary of Kongsberg Gruppen ASA, has signed an agreement to supply a flexible risers and umbilicals installation system for the ‘Capstan Reel Installation System’ (CRIS), to the Offshore Installation Group (OIG). The patented CRIS design simplifies the subsea installation process, enabling a reduction in installation time and risk, which translates to significant cost savings.

The CRIS is a sophisticated new product that will address the risk, safety and cost factors of offshore installations as production moves to deeper waters, further offshore. KOGT will develop, build, deliver to OIG and install the system as a complete ‘package’ on a dedicated installation vessel, which will be built and supplied by OIG.

With the CRIS, the installation tower and relevant tensioner clamps on a vessel are replaced by a reel that uses the capstan principle to ensure controlled installation. This significantly reduces the risk of damaging the riser, ensuring simpler, faster and safer product installation, without the need to work at great height. It also allows for simpler vessel architecture and the possibility to design multi-purpose installation vessels.

Kongsberg Oil & Gas Technologies is an international technology enterprise that delivers innovative and reliable technical solutions to the oil and gas industry. Headquartered in Sandvika, the company has production, sales and support facilities located in six different countries.

KOGT delivers innovative and technological subsea products and systems through EPC (Engineering, Procurement and Construction) projects. The company also has a series of IT solutions for drilling operations, production, reservoirs and subsea risers and flowlines. Its solutions optimise oil and gas operations through computer control, simulation, integration and analytical tools, as well as through engineering projects and consultancy services, all of which improve operational and financial value.

KOGT’s parent company, KONGSBERG (OSE ticker: KOG), is an international, knowledge-based group that delivers high-technology systems and solutions to customers in the oil and gas industry, the merchant marine, and the defence and aerospace industries. In 2010, the Group had operating revenues of NOK 15.5 billion, and it currently has some 6300 co-workers in more than 25 countries.

KONGSBERG strengthens position in space and surveillance

Fri, 21 Oct 2011 09:09:00 +0200

Kongsberg Defence & Aerospace AS, a wholly-owned company in the Kongsberg Group (KONGSBERG), has entered into an agreement to acquire 100% of the shares in Horten-based company Norspace AS. It is expected that the transaction will be completed by the end of October.

Norspace AS was established in 2003 and is an extension of the former AME Space and Alcatel Space Norway. Norspace AS currently has 95 employees and is world-leading in its field of supplying high-tech components and equipment to the international space industry. The company participates in a number of international space programmes, and the company's equipment is currently on board more than 140 satellites for customers all over the world.

KONGSBERG has for several years increased its activities in space and surveillance. Through the subsidiaries Kongsberg Satellite Services and Kongsberg Spacetec, the company is leading in services related to ground stations and satellite data. KONGSBERG currently operates a worldwide network of ground stations, including Svalbard and the Antarctic, and supplies high-tech solutions to NASA and ESA, among others. The acquisition of Norspace AS consolidates space operations in Norway and contributes toward strengthening KONGSBERG's commercial position within international space and surveillance.

The utility aspect of the exploitation of space is becoming more and more prominent, and Norway has very good prospects of being internationally competitive. We have a geographical advantage with infrastructure in the polar regions and we are leading in technology and expertise. The Horten-Kongsberg industrial cluster is strengthened by this acquisition, and combined with the prominent space community in Tromsø, Norway now has a powerful platform for further industrial development of the space sector.

“KONGSBERG has had strong faith in space and surveillance for some time. The significant contracts we recently have landed confirm this faith. The acquisition of Norspace enables us to exploit each other's expertise and market positions to grow and develop new products and markets. Both companies have demonstrated impressive development and ability to innovate in recent years, and we look forward to continue this progress and build new opportunities in a larger and more internationally robust company,” says Harald Ånnestad, CEO of Kongsberg Defence Systems.

For more information please contact:
Harald Ånnestad, President, Kongsberg Defence Systems, mobile: +47 920 60 087
Sverre Bisgaard, Administrerende Direktør, Norspace AS, Mob: 907 55 098

Invitation to Capital Markets Day

Thu, 13 Oct 2011 16:03:00 +0200

Kongsberg Gruppen ASA invites to Capital Markets Day on Thursday, 10 November 2011. The event will take place in Kongsberg Technology Park in Kongsberg.

Please note that a bus marked Kongsberg Gruppen will be departing from the main Oslo Bus Terminal to Kongsberg at 8:15 a.m. and returning at approx. 2:45 p.m. A light breakfast will be served on the bus.

Besides updates on the Group`s objectives, strategies and markets, some of KONGSBERG`s products and systems will be presented and demonstrated. Corporate executive management will be available throughout the event, and the presentations will be delivered in English.

If you would like to attend the event, please sign up by e-mailing office@kongsberg.com
by Monday, 7 November. Your registration must include your name and contact information.

Any questions may be directed to:
VP Investor Relations Jan Erik Hoff, tel. +47 322 88330 or +47 991 11916.
Manager Investor Relations Tor Egil Kili, tel. +47 322 89029 or +47 982 14019

KONGSBERG awarded simulator contract for the new Australian Air Warfare Destroyer program

Wed, 05 Oct 2011 09:41:00 +0200

Kongsberg Defence & Aerospace (KONGSBERG) is pleased to announce the award of a Command Team Trainer Simulation Infrastructure contract in the order of 50 MNOK under which KONGSBERG will support Raytheon Australia Pty Ltd (the Australian Air Warfare Destroyer Combat System Systems Engineer) in the delivery of this central component of the Hobart Class Air Warfare Destroyers Command Team Trainer.

The Simulation Infrastructure is based on KONGSBERG's PROTEUS Naval Training Technology and will provide the Hobart Class Command Team Trainer (CTT) with exercise control and a common synthetic environment for integration of the Aegis Weapon System and other Hobart class sensors and effectors. The Simulation Infrastructure also provides Link 11/16 and DIS interfaces for external joint collaborative training.

The contract is an extension of the Australian Tactical Interface (ATI) contract for the Air Warfare Destroyer (AWD) signed in June 2009 between KONGSBERG and Raytheon Australia, on behalf of the AWD Alliance.

“This contract is the result of long and dedicated work with the PROTEUS Naval Training Technology in Command Team Trainers, starting from our contract for the Ula Class submarine CTT, continuing through the Fridtjof Nansen class Frigate CTT and now the Hobart Class Air Warfare Destroyers CTT in a close cooperation with the Royal Australian Navy”, says Executive Vice President Nils-Oddvar Hagen.

For further information, please contact:
Mr Nils-Oddvar Hagen, Executive Vice President, Kongsberg Defence Systems,
Tel: +47 32 28 92 74, Mob: +47 92 06 00 92, Nils.Oddvar.Hagen@kongsberg.com

Acquisition of Evotec concluded

Fri, 30 Sep 2011 13:46:00 +0200

With reference to the press release we published 5. July 2011.

Evotec oil recovery handling system. Kongsberg Maritime AS, a wholly-owned subsidiary of Kongsberg Gruppen ASA, completed the acquisition of Evotec AS today.

Evotec AS addresses the maritime industry, developing and delivering technological management systems for the seismic, subsea and supply markets, among others. In these selected niches, Evotec AS has developed systems that have allowed the company to carve out a position as one of the market's leading suppliers. In addition, Evotec is building up a Service and After- market Department that has recently concluded service/framework agreements with key players in the market.

Evotec AS is located in the municipalities of Herøy and Ulstein and currently has about 55 employees.

"The acquisition of Evotec is in line with Kongsberg Maritime's 'Full Picture Strategy' and will enhance our delivery scope for seismic and anchor handling vessels among others. Evotec is an innovative enterprise with good systems and skilled employees. It will be an important player in Kongsberg Maritime's further efforts in the markets mentioned", comments Geir Håøy, president of Kongsberg Maritime.

Kongsberg Maritime in Greece

Fri, 23 Sep 2011 10:06:00 +0200

A new Kongsberg Maritime office in the port of Piraeus, Greece went operational on September 1st 2011. Kongsberg Maritime Hellas SA, has been established as a customer support & sales office to meet the procurement and service requirements of Greek shipowners and vessels sailing with Kongsberg Maritime systems in southern Europe.

With a large base of ferry operators and merchant vessel owners (totalling over 4000 vessels), Greece is an important market for Kongsberg Maritime. The company's Maritime Black Box VDR system is used by a significant number of Greek ferries whilst Blue Star Ferries will soon be using Kongsberg Maritime's K-Chief 600 automation systems aboard its vessels.

Kongsberg Maritime Hellas SA will perform service in the local area and in southern Europe, covering the majority of Kongsberg Maritime's automation and navigation systems. Recent investment in the LNG and shuttle tanker markets by Greek owners will also see the team supporting specialist systems including K-Pos Dynamic Positioning, Custody Transfer Systems and the K-Chief 700 automation system for offshore applications.

Kongsberg Maritime Hellas SA has 14 staff and the Board of directors consists of existing Kongsberg Maritime employees Rune Haukom, Leif Kristian Weum and chairman Morten Hasås, who states: "There are around 700 shipping companies in the Athens and Piraeus area so it was important for KONGSBERG to establish presence in Greece to better support our many clients in the country and region."

As one of the largest ports in the Mediterranean sea, Piraeus is classed as a top ten European container port. More than 24,000 vessels visit Piraeus each year.

Kongsberg Maritime's new Mexican service hub starts operation

Fri, 09 Sep 2011 10:02:00 +0200

Expanded support for Mexican offshore industry and international merchant vessels.

Kongsberg Maritime Mexico S.A. DE C.V., became fully operational out of its new facility in the city of Veracruz this summer. As an extension to Kongsberg Maritime's worldwide service network, the new service hub will offer service and support to DP vessels and merchant ships with Kongsberg Maritime navigation, automation and control systems on board.

Kongsberg Maritime Mexico was formally established in January 2011. Kongsberg Maritime New Orleans supported the planning and setup for its operational start this summer. The operation in Mexico currently has five employees, including three field engineers, who will continue to work closely with Kongsberg Maritime's established service team in New Orleans.

"The strategic decision to open a wholly owned Mexican subsidiary was taken based on the service requirements of our customers operating in the region," says Lars Kristian Moen, EVP Global Customer Support. "In addition to supporting the Mexican offshore industry, there are a large number of merchant vessels sailing through the region with Kongsberg Maritime systems on board. By establishing a Mexican service facility with a full stock of spares, we are better positioned to serve all of these vessels with fast acting, high quality service from a local hub."

Kongsberg Maritime already supports several state-of-the-art semi-submersibles with 'Full Picture' Integrated Automation Systems in the region, including Groupo R's new semi-submersible Centenario built at Jurong Shipyard and Seadrill's West Pegasus, commissioned at the same yard. The PEMEX owned Chemul accommodation unit also operates in Mexico with Kongsberg Maritime systems on board. This is in addition to a large number of OSV and AHTS vessels with Kongsberg Maritime Dynamic Positioning systems that can now be supported from Veracruz.

"The Mexican authorities seem to be ready to invest and open up for foreign oil companies to take part, especially in the deep water offshore exploration so having a service centre in this region will be a key differentiator for Kongsberg Maritime and a huge benefit to our customers in Mexico," adds Victor Proy, General Manager, Kongsberg Maritime Mexico.

Updated information regarding the CROWS program

Tue, 06 Sep 2011 14:23:00 +0200

KONGSBERG wish to contribute to give full information regarding the CROWS program to the market. US Army has announced new, revised information regarding the program. The changes imply a lower volume than previously announced by the US Army. KONGSBERG consider that the change is not a direct consequence of reduced need for CROWS-systems but rather a changed purchasing strategy due to the current budget situation in the USA. US Army estimates the upcoming tender to comprise 3 000 systems, in addition to spare parts and upgrades. Total value is estimated to MUSD 970. The change also expresses that there will be only one supplier. KONGSBERG's design is still the chosen design for the competition.

CROWS is a joint acquisition program for weapon stations for the US Army`s vehicle programs. A common solution will result in substantial efficiency gains in respect of protection, training, support and
further development. The Protector Weapon Control System protects military troops by allowing the vehicle's weapons to be operated from a protected position inside the vehicle.

The Hungarian arbitration tribunal declines KONGSBERG claim for compensation

Thu, 01 Sep 2011 08:40:00 +0200

Reference is made to previous financial reports, including the Annual Report for 2010, note 19, regarding the dispute between KONGSBERG and the Hungarian Ministry of Defence. In 2003, KONGSBERG concluded a contract with the Hungarian armed forces for the delivery of military radios. Since the Hungarian armed forces had less need for radios, the contract was updated in 2007, and the parties agreed that compensation should be negotiated by the end of 2009. The negotiation failed, and KONGSBERG filed an arbitration action against the Hungarian Ministry of Defence in 2010 claiming compensation. The court in Budapest has concluded against KONGSBERG. KONGSBERG has during the project made provisions. KONGSBERG will book a loss of approx. MNOK 60 in Q3 2011.

Presentation from the Pareto conference

Wed, 31 Aug 2011 15:48:00 +0200

Pareto Securities’ annual offshore and oil conference is being held on Wednesday, August 31^st and Thursday, September 1^st. KONGSBERG’s presentation was held by Geir Håøy, president of Kongsberg Maritime.

See the presentation here

Opened maritime milestone

Thu, 18 Aug 2011 08:49:00 +0200

To serve the Asian customers even better, Kongsberg Maritime today opened a new factory in Zhenjiang, China.

Both representatives from KONGSBERG and the Chinese authorities were present during the opening of the 25.000 square meters factory.

"The opening of this large and modern factory is an important milestone for KONGSBERG. It is one of the largest Norwegian establishments in China, and will be of great importance to our position in this important market, says President and CEO of KONGSBERG," Walter Qvam.

CEO Walter Qvam and Mr.Feng, Vice Mayor Zhenjiang City

China is the third largest nation in the world within shipping. Thus it is important for Kongsberg Maritime (KM) to be close to the Chinese shipyards, as well as other important Asian markets such as Singapore and Korea.

The new factory will house two Kongsberg Maritime subsidiaries; Kongsberg Maritime China Jiangsu (KMCJ) and Kongsberg Maritime China Zhenjiang (KMCZ). KMCJ now has 55 employees, and will expand to nearly 80 by the end of this year. The company produces sensors and tank management systems.

KMCZ is a joint-venture, in which Kongsberg Maritime has a 56.2 per cent stake. KMCZ has 200 employees, and produces switchboards and transformers for the maritime market.

Håvard Johnsen from Kongsberg Maritime in Trondheim, Norway, is the leader of KMCJ. KMCZ is led by Mr. Wu. Dagfinn Müller from Horten, Norway, is Deputy General Manager.

Factory overview, Zhenjiang, China.

Results Q2: A solid quarter with continued good profitability

Fri, 12 Aug 2011 06:52:00 +0200

Kongsberg Gruppen ASA (KONGSBERG) today reported second quarter 2011. The company maintains a high level of activity, and the ongoing efficiency initiatives contribute to favorable profit trends. The backlog of orders remains stable at a high level.

Quarterly highlights Q2 2011:

Operating revenues NOK 4 041 million
Earnings (EBITA) NOK 505 million
Backlog of orders NOK 17,8 billion
Earnings per share (EPS) 2,83
Equity ratio 36,9 %
High activity level, interesting opportunities being pursued

After closing the second quarter of 2011, KONGSBERG reports operating revenues of MNOK 4 041, compared to MNOK 3 958 in 2010. Earnings before interest and tax for the second quarter of 2011 were MNOK 505, up 8,4 % compared with 2010. Earnings per share increased to 2,83, while the equity ratio increased to 36,9 % during the second quarter of 2011.

“Our progress has been steady and our improvement programs continue to strengthen our profit margin. Our market share continues to strengthen and we are engaged in development initiatives to further increase our potential, for example in the offshore and oil service market. We pursue significant business opportunities in all our business segments, including the next phase of CROWS and the development of our missile range (NSM and JSM). KONGSBERG is well positioned in all our key segments and we have a healthy order backlog. This in combination is a good basis for our operations and profitability also in the remainder of 2011," says Walter Qvam, President and CEO of KONGSBERG.

The full quarterly report is published at www.kongsberg.com and www.newsweb.no.

For further information, please contact:
Jan Erik Hoff
VP Investor Relations
Tel: +47 322 88 330
Mob: +47 991 11 916

KONGSBERG (OSE Ticker: KOG) is an international, knowledge-based group that supplies high-technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine industry, and the defence and aerospace industries. In 2010, KONGSBERG had a turnover of NOK 15.5 billion, and the Group had 5 681 employees in more than 25 countries.

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities rading Act.

Webcast Q2 2011

Fri, 12 Aug 2011 06:29:00 +0200

KONGSBERG's live presentation of 2nd quarter 2011:

The Woods Hole Oceanographic Institution selects KONGSBERG AUVs

Wed, 13 Jul 2011 11:22:00 +0200

The Woods Hole Oceanographic Institution (WHOI) and the Consortium for Ocean Leadership (OL) announced that Hydroid, a KONGSBERG Company, will provide Autonomous Underwater Vehicles (AUVs) and docking stations to support the Pioneer Array of the Ocean Observatories Initiative (OOI).

The REMUS 600 autonomous underwater

vehicle (AUV). Hydroid will provide the

AUVs to support operations at the

Pioneer Array, a component of the

NSF-funded Ocean Observatories Initiative.

WHOI, an implementing organization on the OOI Program, awarded the contract for approximately $1 million to Hydroid for initial development and design modification of AUV systems to meet OOI specifications. Subsequent phases of the contract will lead to the delivery of production AUVs that will be used to collect data as a part of the OOI Pioneer Array located off the New England coast.

The Pioneer Array spans the continental shelf-break, where water depths drop quickly from about 100 meters to greater than 500 meters over a distance of about 40 km. The shelf break is a region of energetic and important ocean variability, a boundary region between cool coastal waters and warmer offshore and Gulf Stream waters. Biological productivity and variability are strong, and a goal of the Pioneer Array is to understand the interplay of physical and biological processes across many scales, from hundreds of meters to hundreds of kilometers. The Pioneer Array AUVs will be dedicated to sustained operation in the vicinity of the shelf break, with each vehicle capable of making more than 50 missions per year in water depths up to 600 m.

"AUVs are a critical tool to rapidly sample variability on dynamically relevant scales within the complex frontal system," said Al Plueddemann, a WHOI senior scientist and project scientist for the Pioneer Array. "This capability is key to improving our understanding of interactions between the continental shelf and slope."

Mobile platforms like AUVs provide oceanographers with the ability to deploy sensors and move them through space horizontally and vertically. Propeller-driven, battery powered AUVs look somewhat like an instrumented torpedo, though they are optimized for longer life at slower speeds while carrying a sensor payload. AUVs are able to carry a broad suite of sensors to conduct a diverse variety of observations. AUVs surface to obtain position fixes using GPS and also will enter the OOI communications network using satellite telemetry.

The OOI, a project funded by the National Science Foundation (NSF), is planned as a networked infrastructure of science-driven sensor systems to measure the physical, chemical, geological and biological variables in the ocean and seafloor. As a fully integrated system, OOI will collect and disseminate data on coastal, regional and global scales. Through a unique cyberinfrastructure, OOI will make ocean observing data available to anyone with an internet connection. Greater knowledge of the ocean’s interrelated systems is vital for increased understanding of their effects on biodiversity, climate change, ocean and coastal ecosystems, environmental health and climate.

WHOI and its partners, Oregon State University and Scripps Institution of Oceanography are responsible for the OOI coastal and global arrays and their autonomous vehicles.

About WHOI

The Woods Hole Oceanographic Institution is a private, independent organization in Falmouth, Mass., dedicated to marine research, engineering, and higher education. Established in 1930 on a recommendation from the National Academy of Sciences, its primary mission is to understand the ocean and its interaction with the Earth as a whole, and to communicate a basic understanding of the ocean's role in the changing global environment.

The innovative AISSat-1 celebrates one year in space

Tue, 12 Jul 2011 12:54:00 +0200

After one year in orbit, AISSat-1 has demonstrated its capabilities as a complementary asset to the land based AIS chain along the Norwegian coast line.

AISSat-1 is a nano satellite to

investigate space-based

Automatic Identification

System sensors in

low-Earth orbit to track

maritime traffic.

AISSat-1 is a Norwegian nano satellite, which primary mission is to investigate the feasibility and performance of a space-based Automatic Identification System (AIS) sensor in low-Earth orbit as a means of tracking maritime assets. After one year in orbit, the satellite’s technology has proved its efficiency and is classified as a success by the owner.

The satellite was built as a cooperation between the Norwegian Defence Research Establishment, Kongsberg Seatex, the Norwegian Coastal Administration and the Norwegian Space Centre. It is financed by the Norwegian Ministry of Trade and Industry. The Kongsberg Satellites Service’s ground station at Svalbard is used for downloading data.

"For Kongsberg Seatex this is a very nice milestone" says Gard Ueland, President of Kongsberg Seatex AS. "Our contribution to the satellite is the AIS receiver payload. We have demonstrated that our technology and knowledge is indeed adequate for this type of application. We look forward to continue developing our technology for many uses, including similar space-based vehicles in the future."

AISSat-1 has also shown its flexibility in situations where additional information about sea traffic is necessary. Data from the satellite was made available by the Norwegian Costal Administration to the Japanese authorities for search and rescue operations after the tsunami earlier this year.

To ensure the continuity of data from the experimental system and to further strengthen the coverage in the High North, the Norwegian Space Centre has decided to launch a second satellite, AISSat-2. The AISSat-2 will have close to the same orbit as AISSat-1, and the AIS payload is provided by Kongsberg Seatex. "Through AISSat-1 we have gained a lot of experience and know-how that will benefit future AISSat projects" states Gard Ueland.

Command & Weapons Control Systems extensions to Italian Submarines

Fri, 08 Jul 2011 09:41:00 +0200

KONGSBERG has signed a contract for extensions to the Command & Weapons Control Systems already under contract for delivery to the two new U212A 2nd Batch submarines under construction in Italy for the Italian Navy.

The contract was made between the Italian shipbuilder Fincantieri and KONGSBERG.

The extensions include;

introduction of the tactical data link systems Link-11 and Link-16
digital chart systems (ECDIS, WECDIS)
automatic radar tracking (ARPA)
automatic identification system (AIS)

KONGSBERG will also be responsible for integration of new sensor systems and the new developed Italian heavy-weight torpedo (NSP/Black Shark).

With the integration of these new capabilities, KONGSBERG’s Command & Weapons Control System (MSI-90U Mk 2) for conventional submarines will be among the most advanced in the world today.

"KONGSBERG has for more than 40 years developed and supplied Command & Weapons Control Systems to Norwegian, German and Italian submarines. This contract will result in an important renewal of our product range and strengthen our position as supplier of integrated Navigation, Sonar and Command & Weapons Control Systems for submarines. In this context, this is yet another important reference contract for KONGSBERG," says Nils-Oddvar Hagen, Executive Vice President in Kongsberg Defence Systems.

For further information, please contact:
Nils-Oddvar Hagen
Executive Vice President, Kongsberg Defence Systems
Tel: +47 32 28 92 74
Mob: +47 92 06 00 92
Nils.Oddvar.Hagen@kongsberg.com

KONGSBERG Sponsors FIS Ski Flying World Championships 2012 in Vikersund

Thu, 07 Jul 2011 08:22:00 +0200

KONGSBERG and the International Ski Federation (FIS) announced today that KONGSBERG, a leading high-technology supplier of industry, has become the presenting sponsor of the FIS Ski Flying World Championships 2012 in Vikersund (NOR).

“Extreme performances under extreme conditions are something we at KONGSBERG recognize and identify with, and we are very proud to be the main sponsor of next year's FIS Ski Flying World Championships,” says Walter Qvam, President and CEO of KONGSBERG.

"KONGSBERG was also the main sponsor for the test event for the World Championships in Vikersund in 2011. These FIS World Cup events were extremely successful and will be remembered for some spectacular jumps and great sporting moments on the world's biggest ski flying hill."

The FIS Ski Flying World Championships 2012, to be held from 23rd-26th February, represent the 22nd edition of the biennial event that has been staged since 1972.

“FIS is extremely pleased to welcome KONGSBERG on board as a partner for one of FIS’s landmark events. Ski Flying is the dream of every ski jumper and fascination of every ski jumping enthusiast. The three days of competition at Vikersund next February are again sure to thrill the world of sports," commented FIS President Gian Franco Kasper.

The Vikersund ski flying hill was recently rebuilt and officially opened last February with FIS World Cup competitions. It is considered to be the world's largest hill facility and local jumper Johan Remen Evensen promptly set the current world record of 246.5 meters during the inaugural event there on 11th February 2011.

The FIS Ski Flying World Championships award medals and the FIS world champion titles in an individual and a team event. The 2010 FIS Ski Flying World Championships in Planica (SLO) saw more than 80'000 on-site spectators in the course of three days. There are just five ski fllying hills in the world, in Harrachov (CZE), Vikersund (NOR), Planica (SLO), Kulm (AUT) and Oberstdorf (GER).

Interview with Christian Pirzer, CEO FIS Marketing AG, and Walter Qvam, CEO KONGSBERG.

For further information, please contact:
Ronny Lie
Vice President Corporate Communications
Mob: +47 91 61 07 98
Email: ronny.lie@kongsberg.com

About FIS
FIS is the governing body for international skiing and snowboarding, founded in 1924 during the first Olympic Games in Chamonix, France. Recognized by the International Olympic Committee (IOC), FIS manages the Olympic disciplines of Alpine Skiing, Cross-Country Skiing, Ski Jumping, Nordic Combined, Freestyle Skiing and Snowboarding, including setting the international competition rules. Through its 112 member nations, more than 6’000 FIS ski and snowboard competitions are staged annually. Specific initiatives are undertaken by FIS to promote snow activities as a healthy leisure recreation, notably for the young.

KONGSBERG acquires Evotec AS

Tue, 05 Jul 2011 09:13:00 +0200

Kongsberg Maritime AS, a fully owned subsidiary of KONGSBERG, has reached an agreement in principle with major shareholders in Evotec AS regarding acquisition of the company.

Evotec AS develops and delivers marine technology handling systems to market segments like seismic, offshore supply and subsea. Within these niches, Evotec AS has developed systems which have led them to be one of the leading suppliers in the market. Evotec AS is located in Herøy and Ulstein municipal with a total of approximately 50 employees.

"For us in Evotec AS this enables us to continue our already established business strategy with focus on both local and international presence. We will continue with our contribution and strong focus on being the frontrunner for new and innovative solutions for the markets covering Offshore handling systems," says Trond Myklebust, Managing Director i Evotec AS.

For further information, please contact:
Trond Myklebust
Managing Director, Evotec AS
Mob: +47 95 70 31 78

Geir Håøy
President, Kongsberg Maritime
Mob: +47 95 88 54 14

Ole Gunnar Hvamb
Executive Vice President, Offshore, Kongsberg Maritime
Mob: +47 95 88 53 70

Kongsberg Maritime is a global marine technology company providing innovative and reliable technology solutions for all marine industry sectors including merchant, offshore, subsea and naval. Headquartered in Kongsberg, Norway, the company has manufacturing, sales and service facilities in 18 countries. In 2010 the business area had a turnover of NOK 6.3 billion.

KONGSBERG signs contract on continued development of JSM

Thu, 30 Jun 2011 12:54:00 +0200

KONGSBERG has today signed a contract for the continued development phase II until 2013 of the JSM (Joint Strike Missile) with the Norwegian Defence Logistics Organization (NDLO). The value is 543 MNOK.

The JSM development started in 2008. A development contract worth 166 MNOK was signed in 2009.

The Norwegian Parliament “Stortinget” voted on 16 June 2011 in favour of starting JSM phase II now and the acquisition of four F-35s in 2016.

"It is of great importance that both the government and the Parliament have endorsed the continued development of the JSM. This shows strong political support for JSM. JSM meets Norway`s and its international F-35 partners operational needs, while the development and its production are important contributions to the industrial content of the F-35 program," says Walter Qvam, CEO of KONGSBERG.

The JSM is a new missile designed to fill an identified operational requirement on the F-35. JSM is the only missile under development that meets the operational requirements and can be internally carried on the F-35. The missile can also be integrated on other platforms.

"KONGSBERG has subcontracted a number of Norwegian companies to participate in the development and to qualify them for the future development and production phases. In a future situation with full-scale production, the JSM program will engage more than 450 employees at KONGSBERG and could generate significant work for more than 100 Norwegian subcontractors for decades," says Harald Ånnestad, President of Kongsberg Defence Systems.

For further information, please contact:
President Harald Ånnestad, Kongsberg Defence Systems
Mob: +47 920 60 087

Executive Vice President Pål Bratlie, Kongsberg Defence Systems
Mob: +47 930 57 243

This information is subject to disclosure requirements pursuant to §5-12 of the Norwegian Securities Trading Act.

NSM Demonstrates precise Land-Target Strike

Thu, 30 Jun 2011 12:13:00 +0200

KONGSBERG has conducted the first ever live-fire with the Naval Strike Missile (NSM) against a land target. This demonstration is a milestone in KONGSBERGs missile business extending the portfolio of operational capabilities from the sea-target domain to include precision strike against land targets.

The missile was launched from a land-based mobile vehicle platform which is part of the Polish Navy Coastal Squadron. The missile performed a tactical flight in excess of 150 km, before precisely hitting the specified land target.

“This firing documents the versatility of and positions NSM as the first choice for long range precision strike against heavily defended targets,” says Harald Ånnestad, President of Kongsberg Defence Systems.

The NSM is in series production for the Norwegian Navy, the Fridtjof Nansen class frigates and Skjold class coastal corvettes, and the Polish Navy Coastal Squadron system. Deliveries for the platforms are scheduled for 2011-2014.

The NSM is the only 5th generation long range precision strike missile in existence today. The missile combines unsurpassed penetration capability due to “low observable” shape, super sea skim, high-G random maneuvers and I3R seeker with Autonomous Target Recognition (ATR) providing programmable hit-point and optimized fuze-setting,

“With the demonstrated NSM capability we today provide the same strike capabilities that other concepts plan for the 2030 timeframe. In addition NSM has unsurpassed advantages in the littorals and a seeker with Autonomous Target Recognition (ATR),” states President Ånnestad.

KONGSBERG now market the following leading missile products:

Penguin for Naval Helicopters
NSM for Ships and trucks
JSM (Joint Strike Missile) for F-35

For further information, please contact:
President Harald Ånnestad, Kongsberg Defence Systems
Mob: +47 920 60 087

Executive Vice President Pål Bratlie, Kongsberg Defence Systems
Mob: +47 930 57 243