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Kongsberg Gruppen ASA (KOG.OL)

KOG.OL on Oslo Stock Exchange

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Latest Key Developments (Source: Significant Developments)

Kongsberg Gruppen: contract with Norwegian Defence Materiel Agency
Monday, 27 Mar 2017 07:04am EDT 

KONGSBERG GRUPPEN ASA : THE NORWEGIAN ARMED FORCES PROCURES HUGIN AUTONOMOUS UNDERWATER VEHICLES FOR 155 MILLION NORWEGIAN CROWNS ($18.32 MILLION) .KONGSBERG MARITIME HAS SIGNED A CONTRACT WITH THE NORWEGIAN DEFENCE MATERIEL AGENCY (NDMA) FOR DELIVERY OF FOUR COMPLETE HUGIN AUV SYSTEMS.  Full Article

Kongsberg Gruppen signs NOK 2.30 billion revolving credit facility
Wednesday, 15 Mar 2017 11:46am EDT 

Kongsberg Gruppen ASA : Signs new revolving credit facility . Has signed 2.30 billion Norwegian crown ($267.3 million) revolving credit facility with a syndicate of five banks . New facility has a tenor of five years with two one-year extension options .New facility, which is for general corporate purposes, replaces existing revolving credit facility of 1.50 billion crowns Kongsberg has had since 2014.  Full Article

Kongsberg Gruppen establishes JV with thyssenkrupp Marine Systems and Atlas Elektronik
Thursday, 9 Mar 2017 04:00am EST 

Kongsberg Gruppen ASA : Kongsberg, thyssenkrupp Marine Systems and Atlas Elektronik enter into a comprehensive teaming agreement for submarines . Companies join resources and establish joint venture company in Norway .Shares in joint venture will be part-owned by both Norwegian and German partners.  Full Article

Kitron receives communications order from KONGSBERG
Wednesday, 15 Feb 2017 04:34am EST 

Kitron ASA : Receives communications order from KONGSBERG . Contract scope has an estimated value of 120 million Norwegian crowns ($14.29 million) .Deliveries will take place from 2017 to 2020.  Full Article

Kongsberg Gruppen says will have deliveries to new submarines
Monday, 13 Feb 2017 07:04am EST 

Kongsberg Gruppen ASA : Norwegian and German authorities initiates a comprehensive industrial cooperation on submarine and missile deliveries that could entail considerable contracts for Kongsberg Gruppen .Says Norwegian authorities announced that strategic partnership for submarine acquisition expands to include Kongsberg's «Naval Strike Missile».  Full Article

BRIEF-Kongsberg Gruppen Q4 EBITDA down at NOK 334 million
Wednesday, 8 Feb 2017 01:00am EST 

Kongsberg Gruppen ASA : Revenues in Q4 2016 are 3.95 billion Norwegian crowns ($475 million), 13.5 per cent reduction compared to Q4 2015 . Q4 EBITDA is 334 million crowns versus 493 million crowns year ago . Reduction is primarily due to offshore related activities, where revenues are down by 35 per cent . Quarterly EBITDA margin is 8.5 per cent, compared to 10.8 per cent in Q4 2015 . Proposes dividend of 3.75 crowns per share for fiscal year 2016 . For Kongsberg Maritime lower revenue are expected in 2017 compared to 2016, and there is still uncertainty in parts of order backlog . As for Kongsberg Defence Systems order coverage for 2017 is very good at start of 2017, which provides basis for somewhat increased revenue in 2017 . As for Kongsberg Protech Systems order coverage for 2017 is somewhat lower than in 2016 at start of the year . As for Kongsberg Protech Systems long-term potential for KPS remains same, but no growth is expected in 2017 .As for Kongsberg Digital no significant profit contribution is expected from KDI in 2017.  Full Article

Kongsberg gruppen Q4 EBITDA down at 334 million crowns
Wednesday, 8 Feb 2017 01:00am EST 

Kongsberg Gruppen ASA : Revenues in q4 2016 are 3.95 billion Norwegian crowns ($475 million), 13.5 per cent reduction compared to Q4 2015 . Q4 EBITDA is 334 million crowns versus 493 million crowns year ago . Reduction is primarily due to offshore related activities, where revenues are down by 35 per cent . Quarterly EBITDA margin is 8.5 per cent, compared to 10.8 per cent in Q4 2015 . Proposes dividend of 3.75 crowns per share for fiscal year 2016 . For Kongsberg Maritime lower revenue are expected in 2017 compared to 2016, and there is still uncertainty in parts of order backlog . As for Kongsberg Defence Systems order coverage for 2017 is very good at start of 2017, which provides basis for somewhat increased revenue in 2017 . As for Kongsberg Protech Systems order coverage for 2017 is somewhat lower than in 2016 at start of the year . As for Kongsberg Protech Systems long-term potential for KPS remains same, but no growth is expected in 2017 .As for Kongsberg Digital no significant profit contribution is expected from KDI in 2017.  Full Article

Kongsberg Gruppen signs contracts in Switzerland
Tuesday, 7 Feb 2017 02:00am EST 

Kongsberg Gruppen ASA :Signs new contracts for delivery of PROTECTOR RWS to Armasuisse for about 130 million Norwegian crowns ($15.7 million).  Full Article

Kongsberg Gruppen: Norway acquires Army Mobile Ground Based Air Defence
Monday, 6 Feb 2017 08:48am EST 

Kongsberg Gruppen ASA : Norway acquires Army Mobile Ground Based Air Defence .Deliveries are planned for 2018 to 2021.  Full Article

BRIEF-Kongsberg Gruppen: To be supplier in NOK 1 bln project for Norwegian Defence
Monday, 6 Feb 2017 03:35am EST 

Corrects headline to say the company is one of the suppliers in NOK 1 bln project, not signs deal for NOK 1 bln.Kongsberg Gruppen ASA :Says will be supplier in project which has total scope of about 1 billion Norwegian crowns($121.4 million) for Norwegian Armed Forces.  Full Article

More From Around the Web

BRIEF-Kongsberg Gruppen: contract with Norwegian Defence Materiel Agency

* THE NORWEGIAN ARMED FORCES PROCURES HUGIN AUTONOMOUS UNDERWATER VEHICLES FOR 155 MILLION NORWEGIAN CROWNS ($18.32 MILLION)