KONGSBERG DEFENCE & AEROSPACE IN BRIEF

The business area (BA) has long traditions of developing and manufacturing sophisticated systems in close collaboration with the Norwegian Armed Forces.

KONGSBERG's anti-ship missiles, command and weapon control systems and communications solutions have proven competitive in the export market, even though KONGSBERG is a small player by international standards. Alliances with major foreign defence enterprises are a key part of the BA's international marketing strategy.

The two most important events in 2007 were the production contract for the new Naval Strike Missile (NSM) with the Armed Forces' Logistics Organisation and the framework agreement with the US Army for weapon control systems for the CROWS programme.

In 2007, the BA earned MNOK 3 338 in operating revenues, compared with MNOK 2 997 in 2006, an increase of 11 per cent. The year's operating profit (EBITA) was MNOK 273, compared with MNOK 182 in 2006. The backlog climbed by 122 per cent, and totalled MNOK 7 232 at year-end 2007, compared with MNOK 3 253 in 2006. Roughly 60 per cent of the orders booked in 2007 were for the export market. Kongsberg Defence & Aerospace hired 218 new co-workers in 2007 and had 1 595 employees at year end.

1) The figures are presented before non-recurring items related to the settlement of the pension plan and gains on the disposal of property.
2) The figures are presented in accordance with IFRS (International Financial Reporting Standard), and jointly controlled undertakings are consolidated using the proportionate consolidation method.
3) The figures are adjusted for effects at the transition to IFRS, and the sale of yachting activities and jointly controlled operations are consolidated using the proportionate method of consolidation.
4) The figures are not adjusted for effects in connection with the transition to IFRS, but are presented according to NGAAP. Jointly controlled operations are reported as associates.