KONGSBERG MARITME IN BRIEF

Kongsberg Maritime is a market leader in dynamic positioning systems, automation and surveillance systems, process automation, satellite navigation and hydroacoustics. Important markets include countries with significant offshore and shipyard industries.

2007 was a very good year, with improved operating revenues and results, and with an EBITA margin in excess of 10 per cent for the first time. All the divisions have contributed to the healthy growth.

In 2007, Kongsberg Maritime had operating revenues of MNOK 4 850 compared with MNOK 3 553 in 2006, an increase of 37 per cent. The EBITA was MNOK 506 in 2007, compared with MNOK 329 the year before. The backlog of orders continued to rise throughout the year, and was MNOK 5 333 at year end. Revenues outside Norway aggregated MNOK 3 531 (73 per cent). The corresponding figure for 2006 was MNOK 2 736. The business area accounted for 58 per cent of the Group's total operating revenues.

Kongsberg Maritime hired 559 new co-workers in 2007 and had 2 510 employees in 25 countries 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.