“KONGSBERG completed 2010 with yet another strong quarter. The Group embarks on 2011 with a high level of activity, new and strengthened market positions in more areas, and a substantial project portfolio,” says CEO Walter Qvam.
“The Group is also exploring many important new market opportunities. The good profit margins in 2010 are a result of favourable project mix and continuous improvement work throughout the organisation with a view to project implementation, capital and logistics optimisation, administration and utilisation of the Group’s marketing system. The strong focus on continuous improvement has been, and will continue to be, crucial in all units in the Group,” says CEO Walter Qvam.
The Q4 EBITA came to MNOK 744 (MNOK 473). Operating revenues totalled MNOK 4 014, up 3.4 per cent from Q4 2009. This resulted in an EBITA margin of 18.5 per cent (12.2 per cent). New orders totalled MNOK 3 327 during the quarter (MNOK 3 147). Earnings per share (EPS) came to NOK 4.45 (NOK 2.58) in Q4.
In 2010, KONGSBERG earned operating revenues of MNOK 15 497, an increase of 12.2 per cent relative to 2009. The EBITA was MNOK 2 216, an improvement of MNOK 840 year on year. The Group booked new orders in 2010 valued at MNOK 13 584 (MNOK 17 605), translating into a strong year-end order backlog of MNOK 17 759 (MNOK 19 892). Earnings per share (EPS) came to NOK 12.46 (NOK 6.83) in 2010. The Board of Directors will propose a dividend for 2010 of NOK 3.75 per share (NOK 2.00) to the General Meeting. This is in accordance with the Group’s dividend policy.
Kongsberg Maritime and Kongsberg Protech Systems earned EBITAs of nearly NOK 1 billion each, and Kongsberg Defence Systems showed good improvement in terms of operating revenues, performance and margins.
100 Norwegian kroner = 17.0686 U.S. dollars
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Source:Kongsberg, February 14, 2011;