OSLO (dpa-AFX) - Kongsberg Gruppen ASA (KOG.OL, NSKFF), on Monday reported lower net income in the second quarter, while income from continuing operations increased from the previous year, with strong revenue growth.
Looking ahead, the company said that with investments planned through through 2027 and 2028, it continues to expect to triple revenues to NOK 100 billion by 2029 and to NOK 150 billion by 2033. Over the same period, the firm targets an operating margin of at least 16 percent.
For the second quarter, profit attributable to equity holders of the parent dropped to NOK 1.60 billion from NOK 1.62 billion in the previous year. Earnings per share were NOK 1.82 versus NOK 1.85 last year.
On a continuing operations basis, earnings per share grew to NOK 1.62 from NOK 1.07 a year ago.
EBITDA jumped to NOK 1.93 billion from NOK 1.34 billion in the prior year.
Operating revenues grew to NOK 9.89 billion from NOK 7.63 billion in the previous year. Including the proportional share of 50/50 joint ventures, revenue increased to NOK 10.39 billion from NOK 7.92 billion in the previous year.
Order intake surged to NOK 17.07 billion from NOK 11.19 billion in the previous year.
Order backlog rose to NOK 157.54 billion from 116.61 billion in the same period last year.
On Friday, Kongsberg Gruppen closed trading 4.19% lesser at NOK 299.50 on the Oslo Stock Exchange.
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