26 PER CENT GROWTH AND EBIT OF NOK 1.46 BILLION IN THE QUARTER

In the first quarter of 2024, KONGSBERG maintained its positive trend by
achieving growth, solid financial results, and a robust order intake. Book/bill
above 1 in all business areas continues to grow the order backlog, which
increased to NOK 90.2 billion. 

"We've achieved a quarter of growth and strong results. Our key performance
indicators have progressed as anticipated, and our strong order intake and
expanding order backlog provide a solid basis for ongoing positive momentum in
the years ahead," says Geir Håøy, President and CEO of KONGSBERG

o	Strong growth across all business areas
o	The order backlog grows, and missile capacity is further expanded
o	Sustainability and safety are main drivers
o	Will continue to grow and deliver solid results


Order intake in the first quarter of 2024 was BNOK 12.7, equivalent to a
book/bill of 1.11. Revenue was BNOK 11.45 compared to BNOK 9.09 in the first
quarter of 2023, an increase of 26%. EBITDA was BNOK 1.82, up from BNOK 1.36 in
the first quarter of 2023 and the EBITDA margin was 15.9% against 14.9% in the
first quarter of 2023. EBIT was BNOK 1.46, up from BNOK 1.02 in the first
quarter of 2023 and the EBIT margin was 12.8%, up from 11.2% in the first
quarter of 2023.

Strong growth across all business areas
There was solid growth in all business areas in the first quarter compared to
the corresponding quarter in 2023. Growth was highest in Kongsberg Maritime and
Kongsberg Defence & Aerospace, which increased operating revenues by MNOK 778
and MNOK 1 394. There was also solid growth in Kongsberg Discovery and Kongsberg
Digital, which increased operating revenues by 16 per cent and 34 per cent
respectively.  

In total, KONGSBERG signed orders worth more than BNOK 12.7 in the first quarter
and increased the order backlog to BNOK 90.2. All business areas delivered
book/bill above 1 and increased their order backlog in the quarter. 

The order backlog continues to grow and missile capacity is further expanded.
The missile division in Kongsberg Defence & Aerospace, which has an order
backlog of MNOK 35, will during the second quarter commence transfer of
production to new and modern facilities. In March, KONGSBERG announced that an
additional MNOK 640 will be invested in increased production capacity for
missiles. The investment is supported by both the Norwegian authorities and the
EU's ASAP programme, which contribute MNOK 200 and MEUR 10 respectively of the
investment.

"The need for further increased production capacity is yet another confirmation
of KONGSBERG's leading position within anti-ship missiles. We have already
scaled production significantly in existing facilities, and with the new
production facility we will be able to deliver larger volumes more efficiently.
This is necessary as we see significant potential beyond the contracts we have
already secured," says Håøy.

The main drivers are sustainability and safety
KONGSBERG is exposed to sustainability and safety in all business areas. 

"At the same time as the world need more security, we will in collaboration
solve significant climate challenges. The transition to environment-friendly
energy and more efficient energy utilisation are key factors. We invest
significant resources in, and experience great demand for, systems and products
from our business areas that can help solve several of these challenges, which
is reflected in a record high order backlog. This makes me confident that we
will continue our growth and deliver solid results in 2024," concludes Håøy.

For more information please contact: 
Ronny Lie 
Group VP and Chief Communication Officer Kongsberg Gruppen ASA 
([phone]
[e-mail] 

Jan Erik Hoff 
Group Vice President 
Investor Relations Kongsberg Gruppen ASA 
([phone] 
[e-mail]

KONGSBERG (OSE ticker: KOG) is an international, knowledge-based group that
supplies high-technology systems and solutions to customers in a wide range of
markets such as defence, security, maritime, energy, aerospace, climate mapping
and subsea technology. KONGSBERG has more than 13,500 employees in 39 countries
and has a total turnover of NOK 40.6 billion in 2023.

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