Kongsberg's orders and profit soar on defence systems demand
The group, whose defence equipment are used by militaries including the U.S. armed forces and many European countries, saw its quarterly order intake rise 63% from a year earlier to 20.74 billion Norwegian crowns ($2 billion), half of which was for the defence and aerospace unit. The division, Kongsberg's second biggest making up around 40% of its revenue, had last year secured deliveries of critical equipment to Ukraine while also contributing to the completion of F-16 fighter jets and training of Ukrainian soldiers on its systems. The unit's order intake more than doubled over 2024 amid a surge in demand for defence equipment in light of the war in Ukraine and the escalating conflict in the Middle East.
Reuters
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53 minutes ago