RECORDING OF Q4 RESULTS WEBCAST
- The order intake was NOK 45.15bn corresponding to a book/bill of 1.42
- Operating revenues were NOK 31.8bn compared to NOK 27.4bn in 2021, an increase of 15.9%
- EBITDA was NOK 4.6bn, up from NOK 4.1bn in 2021, an increase of 12.6%
- The EBITDA margin was 14.5% compared to 14.9% in 2021
- Order intake was NOK 19.2bn compared to NOK 12.5bn in the fourth quarter of 2021, an increase of 53.6%
- Operating revenues were NOK 9.4bn compared to NOK 8.1bn in the fourth quarter of 2021, an increase of 16.5%.
- EBITDA was NOK 1.4bn against NOK 1.2bn in the fourth quarter of 2021, an increase of 21.2%
- The EBITDA margin was 14.8% compared to 13.3% in the fourth quarter of 2021
"We had a strong year with growth, solid results, and a good influx of new orders. This provides optimism, predictability, and a solid platform for further sustainable growth. We continued the strong trend from previous quarters, with NOK 9.4 billion in revenue and NOK 1.4 billion in EBITDA in Q4. With an order intake of more than NOK 19 billion in the quarter and more than NOK 45 billion in 2022, we continue to build a solid order backlog. We have almost doubled the order backlog over the past two years and by the end of 2022 we had secured orders worth NOK 63 billion to be delivered in the future," says Geir Håøy, President and CEO of KONGSBERG.
Based on the solid results for 2022 and KONGSBERG’s strong balance sheet, the Board of Directors proposes a dividend of NOK 12.00 per share, a total of NOK 2.1 billion, to the Annual General Meeting on 11 May 2023.
Our commitment to contribute to solve challenges
"The year 2022 will be recorded in history as a dark year because of Russia's brutal invasion of Ukraine. The new security situation in Europe has highlighted the need to strengthen nations' defence capabilities. We are also experiencing high and unpredictable energy prices and generally high inflation. At the same time, the world is in a transition towards more environmentally friendly energy sources with a significant need for emission reductions. KONGSBERG sees it as our duty to actively contribute to solving all these challenges. National security has risen higher on the world agenda, which has increased the demand for surveillance and defence equipment. Within our maritime markets, ambitions for reduced emissions are an important driver of demand, and we have great success with our solutions for renewable energy sources, such as offshore wind," says Håøy.
Growth in all business areas
There was a solid development in all business areas in 2022. Kongsberg Maritime increased its operating revenues by 15 per cent and increased the EBITDA margin from 12.0 to 12.6 per cent compared to the previous year. Kongsberg Defence & Aerospace increased its operating revenues by 17.7 per cent and delivered an EBITDA margin of 21.2 per cent. Kongsberg Digital increased its operating revenues by 17 per cent and has increased both the number of users, and the number of installed Kognitwin and Vessel Insight systems during the year.
Strong order intake
KONGSBERG signed orders for more than NOK 45bn in 2022 and the year ended with a record high order backlog of more than NOK 63bn. Kongsberg Maritime signed orders worth more than NOK 24.3bn and had a good order intake from both the newbuilding and the aftermarket. The business area experienced, among others, great success for its solutions to the offshore wind market, where orders worth about NOK 1.7bn were signed.
In Kongsberg Defence & Aerospace, the Naval Strike Missile (NSM) was the major driver for order intake for the past two years. In 2022, missile orders worth more than NOK 10bn were signed, the majority of which was signed in the last quarter of the year. In addition to several new customers for the missile, both Spain and the UK announced that they will acquire the NSM. In total, the missile division has an order reserve of NOK 21bn at the start of 2023.
New business area and good outlook for 2023
In December, KONGSBERG announced that the former Kongsberg Maritime Sensors & Robotics division will operate as a separate business area from 2023. The first reporting for the new area will be upon presentation of the Group's results for the 1st quarter of 2023.
"KONGSBERG is an ocean space expert. Our sensor and robotics solutions are important for the utilization and protection of the resources found in the sea, and Sensor & Robotics represents an area where we see significant potential for growth. We have a record high order backlog, and we are experiencing high degree of trust from our customers. This makes me confident that KONGSBERG will seize new opportunities, grow, and at the same time deliver solid results also in 2023," Håøy concludes.
For more information please contact:
Kommunikasjonsdirektør Kongsberg Gruppen ASA
(+47) 91 61 07 98
Jan Erik Hoff
Group Vice President
Investor Relations Kongsberg Gruppen ASA
(+47) 99 11 19 16