Kongsberg reports record-high new orders in Q1 2014
KONGSBERG operating revenues in the first quarter 2014 reached MNOK 3 941 (MNOK 4 033) and EBITDA of MNOK 446 (MNOK 500), resulting in an EBITDA margin of 11.3% (12.4%). New orders were strong in both the maritime and defence segments, totalling MNOK 8 565 (MNOK 3 885) in Q1 and bringing the Group's backlog of orders to the highest level since 2009, the Company said in a press release.
Kongsberg Maritime's (KM) operating revenues climbed by 17.8% compared with Q1 2013, while KPS and KDS saw declines in operating revenues. KDS' operating revenues and operating profit were adversely influenced by the development of the JSM Phase III being self-financed for large parts of the quarter.
EBITDA was mainly driven by KM's reporting of MNOK 341 in Q1 (MNOK 284). Q1 earnings before tax came to MNOK 329 (MNOK 376), and the profit after tax was MNOK 243 (MNOK 271), leading to earnings per share of NOK 2.02 (NOK 2.28/share). New orders in Q1 2014 totalled MNOK 8 565 (MNOK 3 885), translating into a book/bill of 2.17.
Kongsberg Gruppen (KONGSBERG) is an international, knowledge-based group that supplies high-technology systems and solutions to customers in the oil and gas industry, the merchant marine, and the defence and aerospace industries. The Group comprises four business divisions, including Kongsberg Maritime, Kongsberg Oil & Gas Technologies, Kongsberg Defence Systems and Kongsberg Protech Systems.
