Kongsberg Gruppen ASA Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2024
July 10, 2024 at 04:30 am EDT
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Kongsberg Gruppen ASA reported earnings results for the second quarter and six months ended June 30, 2024. For the second quarter, the company reported sales was NOK 11,589 million compared to NOK 9,614 million a year ago. Net income was NOK 1,195 million compared to NOK 773 million a year ago. Basic earnings per share from continuing operations was NOK 6.79 compared to NOK 4.38 a year ago. Diluted earnings per share from continuing operations was NOK 6.79 compared to NOK 4.38 a year ago.
For the six months, sales was NOK 23,039 million compared to NOK 18,703 million a year ago. Net income was NOK 2,313 million compared to NOK 1,516 million a year ago. Basic earnings per share from continuing operations was NOK 13.15 compared to NOK 8.6 a year ago. Diluted earnings per share from continuing operations was NOK 13.15 compared to NOK 8.6 a year ago.
Kongsberg Gruppen ASA specializes in the development, manufacturing and marketing of technological equipment and systems for the maritime, oil and gas, defence and aerospace industries. Net sales break down by product family as follows:
- merchant ship and offshore drilling systems (49.2%): satellite positioning, monitoring and navigation systems, process automation systems, underwater communication systems, handling equipment, etc.;
- defence and aerospace systems (39%): command and control, surveillance and reconnaissance, tactical communication, remotely operated weapon stations, long-range missile systems, avionics structures and composite materials products, etc.;
- solutions for the sustainable management of marine resources and climate change monitoring (7.9%): primarily for offshore operations, fisheries, marine research, maritime operations, ocean-based energy production;
- other (3.9%): including digital solutions for the oil, gas and maritime sectors.
Net sales are distributed geographically as follows: Norway (19.8%), Europe (31%), North America (23.9%), Asia (18.9%), Australia (3.7%), South America (1.8%) and Africa (0.9%).
KONGSBERG GRUPPEN ASA 
