Kongsberg Gruppen (KOG) Q3 2026 earnings summary

Executive summary

• Q3 APM revenue rose 50% YoY to MNOK 11,328; EBIT rose 66% to MNOK 1,861. Order intake reached MNOK 23,347 and backlog a record MNOK 174,243, including proportional 50/50 JV figures.

• Higher volumes and solid project execution supported growth, led by air defence, counter-UAS and missile programmes.

Financial highlights

• Q3 IFRS continuing-operations revenue was MNOK 10,842, EBITDA MNOK 2,152 and EBIT MNOK 1,762; APM figures including proportional JV shares were MNOK 11,328, MNOK 2,284 and MNOK 1,861, respectively.

• YTD APM revenue reached MNOK 30,951 versus MNOK 22,798 YoY; EBIT was MNOK 5,067 versus MNOK 3,232.

• Q3 operating cash flow was MNOK 4,102; quarter-end cash and cash equivalents, excluding JVs, were MNOK 6,365.

• Continuing-operations EPS was NOK 1.69 in Q3 versus NOK 1.11 YoY.

Outlook and guidance

• Record backlog of MNOK 174,243 supports high activity and strong revenue growth in 2027; MNOK 12bn was scheduled for delivery in Q4 2026.

• Continued solid growth is expected in 2026 and the years ahead; capacity and self-funded development investment are expected to remain elevated through 2027–2028.

• Financial ambitions are revenue of NOK 100bn in 2029 and NOK 150bn in 2033; capacity increases are on track to support backlog execution and future demand.