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Kongsberg orders increase by 5% as the company expands its defence capacity to meet demand

The Norwegian defence manufacturer Kongsberg Gruppen announced on Wednesday that it had received more orders for the second quarter 2025, which reflects an increase in military spending by European nations.

Kongsberg has customers from the defence, aerospace and maritime industries. It also serves energy, fishing, and the energy industry.

Geir Haiy, CEO of the company, said in a press release that "there is a need to enhance defence capabilities and we are expanding capacity to meet growing demand." In response to Russia's invasion in Ukraine, and the threat by President Donald Trump to reduce military support to the region, many European nations have committed to increase their defence budgets significantly.

Haoy stated that the company was experiencing record market activity. In the third quarter, 54% of orders were received by its Defence & Aerospace division.

Kongsberg stated that there was a high level of activity in relation to the delivery of subsea technologies and solutions.

The company's earnings before interest taxes, depreciation, and amortization (EBITDA), which is the quarterly profit before interest taxes, depreciation, and amortisation, rose by 28% to 2,33 billion Norwegian crowns. LSEG polled five analysts who expected an average of 2.25 billion Norwegian crowns. Orders and profits for the group also soared in the first quarter, boosted by Europe’s defence spending. $1 = 10.0974 Norwegian crowns (Reporting and editing by Milla Nissi-Prussak, Gdansk)

(source: Reuters)