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Industry

Kongsberg saw sales fall in first quarter

17 May 2018

Kongsberg has reported lower revenues for the first quarter of 2018, attributed to the year-on-year decline to a 10.9% decrease in its defence division that resulted from a fall in sales of missiles and air defence systems.

The Norwegian state-controlled group recorded revenues of NOK1.59 billion (USD195.91 million) over this period for the defence and aerospace division, and received new orders in this area totalling NOK798 million.

The overall group reported revenues of NOK3.55 billion, down on the NOK3.72 billion recorded in the equivalent quarter in 2017, representing a 4.5% decrease, with a total order intake of NOK2.94 billion. This was down from NOK3.45 billion the previous year.

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