KONGSBERG Reports High Level of Activity in Q1 2013

As of 2013 Kongsberg Oil & Gas Technologies (KOGT) is reported as a seperate business area.

KONGSBERG had high level of activity in Q1 2013. Operating revenues totalled MNOK 4 033, up 5.1 per cent from Q1 2012. EBITDA came to MNOK 500 in Q1, compared with MNOK 550 in the same period last year. Kongsberg Maritime had very good order income in Q1 with MNOK 2 664 (MNOK 2 541), and new orders for the group totalled MNOK 3 885.

Earnings per share (EPS) were NOK 2.28 in Q1, compared with 2.63 in Q1 2012. KONGSBERG had an equity ratio of 38.8 per cent at the end of the quarter.

“We have seen a high level of activity during the quarter in terms of performance as well as markets, resulting in strong order intake, especially for our maritime operations”, says CEO Walter Qvam.

As of 2013, Kongsberg Oil & Gas Technologies (KOGT) is being reported as a separate business area. KOGT provides innovative subsea solutions, engineering services and decision-support systems for the international oil and gas industry. Its product portfolio features a combination of systems that are already well established on the market and innovative new solutions.

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Press Release, May 1, 2013