Record-high order backlog in Q2
Strong influx of new orders in Q2 leads to a record-high backlog of more than NOK 21 billion for KONGSBERG.
KONGSBERG reports Q2 2014 operating revenues of MNOK 4 263 (MNOK 4 097). EBITDA totalled MNOK 455 (MNOK 513), resulting in an EBITDA margin of 10.7 per cent (12.5 per cent). Overall, KONGSBERG saw a high influx of new orders again in Q2 with MNOK 5 714 (MNOK 3 773), equalling a book/bill of 1.34.
Strong order intake
In Q2, Kongsberg Maritime won new orders valued at MNOK 2 594 (MNOK 2 431), and Kongsberg Defence Systems followed up its record influx of new orders in Q1 with new orders in Q2 valued at MNOK 2 019 (MNOK 651). For Kongsberg Protech Systems, new orders in Q2 added up to MNOK 899 (MNOK 438), which was the second highest volume in a single quarter since 2011.
"We are very pleased with the strong order intake in Q2. Our maritime business continues its strong development, and within defence the order backlog increased also during this quarter", says CEO and President, Walter Qvam.
"Kongsberg Maritime has established very strong positions in all its markets. This has resulted in the signing of significant contracts in Q2 as well. Amongst the contracts won by Kongsberg Maritime is the delivery of safety and automation systems for Statoil's four platforms on the Johan Sverdrup field, and many new orders from shipyards in Asia. As regards defence, Kongsberg Defence Systems was awarded the development contract for phase III of the Joint Strike Missile, while Kongsberg Protech Systems booked orders for new systems, and also for upgrading and maintaining systems delivered earlier under the CROWS lll programme", adds Qvam.
"As regards Kongsberg Oil & Gas Technologies, cancellation and postponement of projects early this year lead us to initiating restructuring initiatives to meet a lower than expected projected volume. This situation has had a negative impact also in the second quarter. We expect the initiatives to bring improvements in the latter half of the year", says Qvam.
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