Kongsberg Gruppen (KOG) CMD 2026 summary

Strategic Priorities and Market Positioning

• Focused exclusively on defense, security, and surveillance after divesting maritime business, with a dedicated leadership team and board.

• Positioned to benefit from rising global defense spending, especially in Europe and the U.S., with 70% of backlog from Europe and growing presence in North America and Asia-Pacific.

• Four growth drivers: repeat orders from existing customers, new customer acquisitions, product adaptation to new platforms, and dual-use technology deployment.

• Emphasis on joint ventures and partnerships, with proportional reporting of joint venture results in financials.

• Offers integrated solutions from deep sea to space, including ground station services, satellite manufacturing, strike missiles, air defense, remote weapon systems, and underwater autonomy.

Market Environment and Growth Outlook

• Global defense spending is rising, with Europe increasing self-reliance and a global ramp-up in procurement, especially in response to evolving threats and conflicts.

• Addressable defense procurement markets are projected to grow significantly by 2030, with notable increases in the US, Europe, and the rest of the world.

• Well positioned to outpace overall defense industry growth due to a future-ready product portfolio and scalable production capacity.

• Holds leading market shares in air defense (selected by 18 nations), remote weapon systems (~80% global share), and anti-drone solutions.

• Expanding missile production capacity with new factories in the USA and Australia to meet growing demand.

Financial Ambitions and Performance

• Revenue ambition raised to NOK 100 billion by 2029 and NOK 150 billion by 2033, aiming for EBIT margin above 16%.

• Revenue has tripled since 2016, with EBIT margin doubling to 15.8% and order backlog reaching NOK 152 billion.

• Revenue ambitions are based on Alternative Performance Measures, including proportional share of 50:50 joint ventures but excluding Patria.

• Growth supported by robust backlog, strong market fundamentals, and expanded production capacity in Norway, Australia, and the U.S.

• Capital allocation guided by four principles: solid balance sheet, organic growth investment, competitive shareholder remuneration, and strategic portfolio management.