Norway's Kongsberg Group Q4 exceeds forecast
Norwegian defence contractor, Kongsberg Group,?on Friday?reported a larger than expected increase?in its operating profit for the fourth quarter?and that the order backlog has increased by 11% during the last three months of 2025.
The earnings before interest and taxes rose by 42% in the quarter October-December 2024 compared to the same period in 2024. This was higher than the 2,070 billion crowns that analysts predicted.
Kongsberg, and its competitors have seen an increase in orders as Europe increases its military spending during a time of war in Ukraine. Also, U.S. president Donald Trump has demanded that NATO allies assume more responsibility for Europe's defenses.
In a recent statement, Geir Haoy, CEO of Kongsberg said: "We have a high demand for our products in a changing world. We've laid a solid foundation for future development."
Kongsberg Group, the maker of the Joint Strike Missile system for air defence, has increased its order backlog from 142.3 billion crowns in the third quarter to 157.4 billion crowns by the end of 2025, according to its report.
The share price of the?group has increased by 24% in the past year.
The company is
Due to spin-off
In April, the civilian-focused Kongsberg Maritime Unit was merged with its military counterpart.
(source: Reuters)
