Financial results Q4 2025: Concluding a year of solid performance and strong growth

At the Extraordinary General Meeting of Kongsberg Gruppen ASA (KONGSBERG) held on 22 January 2026, the demerger of Kongsberg Maritime was formally approved. The plan is to list Kongsberg Maritime ASA as an independent company on the Oslo Stock Exchange on 23 April 2026. In accordance with applicable accounting standards, Kongsberg Maritime is presented as operations held for distribution in the official financial statements with effect from the fourth quarter of 2025. Please note that the figures presented in this press release have been restated to reflect the legacy business – Kongsberg Gruppen including Kongsberg Maritime.

Highlights and key figures Q4 for KONGSBERG, including Kongsberg Maritime

• Solid order intake and a book-to-bill ratio above 1 across all business areas

• Order backlog continued to grow and now amounts to NOK 157,419 million

• Revenues of NOK 16,776 million, an increase of 21 percent from the fourth quarter of 2024

• EBIT of NOK 2,464 million for the quarter, up from NOK 1,730 million in Q4 2024

• EBIT margin of 14.7 percent for the quarter

“In the fourth quarter, KONGSBERG, including Kongsberg Maritime, delivered revenue growth of 21 percent compared to the same period in 2024. Profitability increased, as a result of a favourable project mix and high volume in Kongsberg Defence & Aerospace. At year-end, the Group had a total order backlog of NOK 157 billion. Of this, NOK 130 billion will remain with KONGSBERG going forward, while the remainder pertains to Kongsberg Maritime,” says Håøy.

Kongsberg Maritime supplies technology, systems and products for both newbuilds and aftermarket services across a wide range of vessel segments, from the traditional merchant fleet to more advanced vessels performing complex marine operations. A generally ageing global fleet, combined with increased demand for energy-efficient solutions and emissions requirements, is driving the need for fleet renewal. This underpins a long-term demand for the business area’s solutions.

Kongsberg Maritime delivered revenues of NOK 7,602 million in the fourth quarter, a year-on-year increase of 10 percent. For the full year 2025, operating revenues amounted to NOK 27,123 million, also representing 10 percent growth compared to 2024. Aftermarket deliveries accounted for approximately 53 percent of revenues in the fourth quarter and 54 percent for the full year.

Order intake for the quarter was NOK 7,801 million, corresponding to a book-to-bill ratio of 1.03, down from NOK 9,145 million in the fourth quarter of 2024. The newbuild market was the largest driver of order intake during the quarter. Full-year order intake in 2025 amounted to NOK 32,024 million, giving a book-to-bill ratio of 1.18 and representing a 13 percent increase from 2024. Kongsberg Maritime is well positioned through advanced technology deliveries across a range of vessel segments. Offshore was the largest segment for order intake in the quarter, and cumulatively as of the fourth quarter, the offshore segment accounted for 30 percent of the business area’s newbuild-related order intake.

“2026 will be a historic and exciting year. In April, Kongsberg Maritime will be separated from today’s Group and listed as an independent company. The two companies operate in different international markets in a world marked by rising geopolitical tensions, trade conflicts and uncertainty,” says Håøy. “This places different demands on the two businesses, both in terms of strategic priorities and business models, emphasizing the importance of adapting quickly to changing customer needs and value chains.”

Demand for Kongsberg Defence & Aerospace products such as air defence systems, missiles and remote weapon stations remains strong. The order backlog for missiles and air defence systems now amounts to approximately NOK 98 billion. To meet this demand, significant capacity expansions are being undertaken, including the construction of missile production facilities in both Australia and the United States. In December, we announced the acquisition of the U.S. missile company Zone 5 Technologies, as part of an important strategic initiative aimed at developing cost‑effective missiles that can be produced at scale and expanding air defence capacity.

Kongsberg Defence & Aerospace delivered revenues of NOK 7,937 million in the fourth quarter, an increase of 44 percent compared to the same quarter last year. The business area signed several major contracts during the quarter, resulting in an order intake of NOK 22,562 million and a book‑to‑bill ratio of 2.84. Full‑year order intake for 2025 totalled NOK 50,091 million, compared with NOK 54,382 million in 2024. At the end of the quarter, Kongsberg Defence & Aerospace held a record‑high order backlog of NOK 125,378 million, an increase of NOK 14,669 million during the quarter and up 25 percent from the fourth quarter of 2024.

Kongsberg Discovery is strongly positioned in seabed mapping and the sustainable management of ocean resources, while also gaining increasing exposure to defence and security markets. These global trends are expected to fuel continued demand, especially in areas such as offshore energy production, commercial fisheries, climate and environmental monitoring, and the protection of critical infrastructure.

Kongsberg Discovery delivered revenues of NOK 1,442 million in the quarter, a year‑on‑year increase of 16 percent. Full‑year revenues for 2025 amounted to NOK 5,130 million, also representing 16 percent growth compared to 2024. Order intake in the fourth quarter was NOK 1,759 million, corresponding to a book‑to‑bill ratio of 1.22, compared with NOK 1,300 million in the fourth quarter of 2024. All divisions recorded growth in order intake in the fourth quarter, with contracts for research vessels being the largest driver, in addition to HUGIN contracts.

“The results, order backlog and market positions at the end of 2025 provide a solid foundation for the two soon‑to‑be independent listed companies,” Håøy concludes.