Financial Results Q3 2025: Strong growth driven by defence and robust order intake

“We see strong demand for our products, resulting in increased operating revenues and solid profitability in the third quarter. Order intake remains robust from both defence and civilian customers, demonstrates that our solutions are highly relevant,” says Geir Håøy, President and CEO of KONGSBERG.

Key Figures and highlights

• MNOK 13,302 in revenues, 12 per cent growth from Q3 2024
• MNOK 2,022 EBIT in the quarter, up from NOK 1,868 million in Q3 2024
• Strong order intake and book/bill above 1 in all business areas
• Order backlog continues to grow and is now MNOK 142,251
• All business areas increased their order backlog during the quarter

Order intake in Q3 was MNOK 16,889, compared to MNOK 12,951 in the same quarter last year. This resulted in a book/bill for the quarter of 1.27. EBIT in Q3 was MNOK 2,022, corresponding to an EBIT margin of 15.2 per cent compared to MNOK 1,868 (15.7 per cent) in the same quarter last year.

Accumulated operating revenues as of Q3 2025 were MNOK 41,823, up 20 per cent from MNOK 34,963 in the same period last year. The order backlog at the end of Q3 2025 was MNOK 142,251, an increase of MNOK 45,386 since Q3 2024.

Adjusting for one-offs in Q3 2024 and portfolio adjustments, Kongsberg Maritime has an underlying growth of 2 per cent. Accumulated as of Q3 2025, operating revenues were MNOK 19,521, corresponding to a growth of 9 per cent compared to the same period in 2024.

Order intake in the quarter was MNOK 7,918, corresponding to a book/bill of 1.24, up from MNOK 6,953 in Q3 2024. Accumulated order intake in Q3 2025 was MNOK 24,224, corresponding to a book/bill of 1.24. Order intake was strong in the quarter, driven by orders from the newbuilding market, that was up 51 percent compared to Q3 2024. Offshore vessels were the largest contributor to the order intake. Among the highlights of the quarterly, the order intake in the quarter included delivery, design, and integrated solutions to the two new remote and autonomous Reach Subsea vessels.

“The maritime industry is at the beginning of a comprehensive transition to more energy-efficient solutions and renewable energy sources, and Kongsberg Maritime will be a leading player in this transition,” says Håøy.

A large part of the growth in the quarter was driven by increased activity in missile- and air defence deliveries. Accumulated operating revenues so far in 2025 was MNOK 17,383, up 28 per cent compared to 2024.

In August, Kongsberg Defence & Aerospace signed a contract with the United States Marine Corps for production of unmanned 30 mm turrets for the Amphibious Combat Vehicle program. There was also a good order intake related to air defence and anti-drone capabilities in the quarter. The order intake has come in the form of several individual contracts with relatively short delivery times.

At the end of the quarter, the business area had a record-high order backlog of MNOK 110,708, an increase of MNOK 1 466 during the quarter and an increase of MNOK 38,745 from Q3 2024. 

Accumulated operating revenues as of Q3 was MNOK 3,687, an increase of 16 per cent from the same period in 2024.

There is considerable international attention related to the need to protect and monitor critical infrastructure, both above and below sea level. Order intake in 3rd quarter was MNOK 1,682, corresponding to a book-to-bill of 1.52, compared to MNOK 1,229 in Q3 2024.

“With a global presence, close collaboration with governments, customers and suppliers, and an organization driven by high competence and innovation, we continue to create value by delivering solutions that make a difference for our customers and partners,” says Håøy.