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Continued growth and performance

Kongsberg Gruppen posted 3rd Quarter operating revenues of MNOK 4 374 (MNOK 3 601), up 21 per cent compared with last year. The EBITA came to MNOK 310 (MNOK 191). Ordinary result before tax was 134 MNOK (139). The backlog of orders was valued to MNOK 6 368, compared with MNOK 6 610 at 31 December 2000.

"The positive trend continues for the Group`s third quarter. By the end of the quarter the operating profit before amortisation of goodwill (EBITA) is up 62% from last year. We ascertain continued growth and improved performance in both core business areas - Defence and Maritime," stated CEO Jan Erik Korssjøen.

"Within Maritime the Group has a strong influx of new of orders and a positive income statement both within the Offshore & Ocean Science and Ship Systems segments. The income statement in Yachting & Fishery is showing weaker performance, especially in USA after 11 September. Defence & Aerospace is showing an increasing level of activity. The main projects are on schedule and the backlog of orders is still high."

"Improved performance is expected in all main segments, except from Yachting & Fishery," says Jan Erik Korssjøen.