CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 79.75% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

Kongsberg Gruppen Q3 revenue beats estimates on defence demand

By Reuters News


Overview

  • Norway defence technology firm's Q3 revenue rose 50% yr/yr, beating analyst expectations

  • Company cites strong demand for missiles, air defence and remote weapon stations

  • Order backlog reached record NOK 174.2 bln in Q3


Outlook

  • Company says strong order backlog provides foundation for continued growth

  • Kongsberg sees continued strong demand across its defence and technology portfolio

  • Company says record-high order backlog gives visibility for future development


Result Drivers

  • DEFENCE DEMAND - Co said strong demand for missiles, air defence systems and remote weapon stations drove Q3 results

  • CAPACITY EXPANSION - Co said expansion of production capacity, including in Poland, supported ability to meet higher demand

  • UNDERWATER TECH - Co said contracts and acquisitions in underwater technology expanded portfolio and U.S. market presence


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q3 Revenue

Beat

NOK 11.30 bln

NOK 10.46 bln (8 Analysts)

Q3 Orders

NOK 23.30 bln


Analyst Coverage

  • The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"

  • The average consensus recommendation for the aerospace & defense peer group is "buy"

  • Wall Street's median 12-month price target for Kongsberg Gruppen ASA is NOK400.00, about 28.2% above its October 28 closing price of NOK312.10

  • The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 36 three months ago


Reuters Recommended Reads

  • Oct 29 - Kongsberg Q3 orders jump on strong missile, air defence demand

  • Oct 28 - Aselsan order backlog jumps to $30.7 bln as air defence demand surges

  • Oct 29 - Rheinmetall wins option order for 69 more Schakal combat vehicles


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.