KONGSBERG Reports 50% Revenue Growth in Q3 2026 as Order Backlog Reaches NOK 174.2 Billion

Summary

Kongsberg Gruppen ASA (KONGSBERG) reported a 50 per cent increase in revenue to NOK 11.3 billion in the third quarter of 2026, supported by demand across its defence and technology portfolio. Order intake reached NOK 23.3 billion, compared with NOK 9.5 billion in the corresponding quarter last year, while the company’s order backlog increased to NOK 174.2 billion.

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Kongsberg Gruppen ASA (KONGSBERG, OSE: KOG) recorded revenue of NOK 11.3 billion in the third quarter of 2026, representing a 50 per cent increase compared with the same period last year. The company attributed the growth to sustained demand and higher activity across its business areas.

EBIT increased by 66 per cent during the quarter, while order intake rose to NOK 23.3 billion from NOK 9.5 billion in Q3 2025. The company reported a book-to-bill ratio of 2.06, with its order backlog reaching NOK 174.2 billion at the end of September 2026.

Eirik Lie, President and CEO of KONGSBERG, said:

“At a time when European security is being challenged, our task is to strengthen defence capabilities through technology, capacity and delivery performance. We are expanding our capacity, including in Poland, to meet growing demand. Our focus now is on executing on our strong order backlog, which provides a solid foundation for continued growth.”

Demand for missiles and air defence systems

KONGSBERG reported continued demand for its missiles, air defence systems and remote weapon stations during the quarter.

In July, the United States Air Force placed an order for additional Joint Strike Missiles (JSM) for its F-35 fleet. The company subsequently signed a framework agreement with the US Marine Corps covering the production and sustainment support of Naval Strike Missiles (NSM). In October, Denmark became the seventh country to announce its intention to procure JSM for its F-35 fighter aircraft.

The company also secured several air defence contracts, including a NOK 10 billion agreement with Belgium for the delivery of National Advanced Surface-to-Air Missile Systems (NASAMS). Belgium became the 18th country to order the system.

Additionally, KONGSBERG signed a contract to supply remote weapon stations for the Canadian Army’s Armoured Combat Support Vehicle programme. The systems form part of the company’s counter-drone technology portfolio.

Commenting on the company’s market position, Lie said:

“KONGSBERG’s market-leading solutions in missiles, air defence and remote weapon stations address some of the most pressing security and defence challenges facing the world today. At the same time, the underwater domain and satellite technology are becoming increasingly important to national security and resilience,” said Lie.

Underwater technology and acquisitions expand portfolio

KONGSBERG identified underwater technology as an increasingly important area for national security, critical infrastructure protection and maritime domain awareness.

During the third quarter, the US government awarded the company a USD 54 million contract related to autonomous underwater capabilities. US authorities also approved KONGSBERG’s acquisition of Sonatech, a move that expands its expertise in underwater acoustics and strengthens its presence in the US market.

The company also reported progress following its acquisition of Zone 5 Technologies in the second quarter of 2026. The acquisition added missile solutions designed for cost-effective production at scale. During Q3, Zone 5 was selected for a US Navy programme valued at USD 65 million.

Order backlog provides multi-year business visibility

KONGSBERG’s order intake for the first nine months of 2026 reached NOK 67 billion. During the third quarter alone, order intake amounted to NOK 23.3 billion, compared with NOK 9.5 billion in Q3 2025.

The order backlog increased by NOK 16.7 billion during the quarter to reach NOK 174.2 billion at the end of September. The company said the backlog extends across multiple years, providing visibility into future business activity.

Lie said:

“The current security environment requires industry to deliver rapidly, reliably and at scale. With a record order backlog and continued strong demand, we are well positioned to meet the needs of our customers and allies. Together with our suppliers, we have the capacity required to strengthen defence capabilities, enhance preparedness and ensure that we are ready to meet tomorrow’s needs,” said Lie.

FAQs

How much revenue did KONGSBERG report in Q3 2026?

KONGSBERG reported revenue of NOK 11.3 billion in the third quarter of 2026, representing a 50 per cent increase year-on-year.

What was KONGSBERG’s order backlog at the end of Q3 2026?

The company’s order backlog reached NOK 174.2 billion at the end of September 2026, following an increase of NOK 16.7 billion during the quarter.

What was KONGSBERG’s order intake in Q3 2026?

KONGSBERG recorded order intake of NOK 23.3 billion in Q3 2026, compared with NOK 9.5 billion in the corresponding quarter of 2025.

Which major defence contracts did KONGSBERG secure during the quarter?

Major developments included a NOK 10 billion NASAMS agreement with Belgium, a framework agreement with the US Marine Corps for Naval Strike Missile production and sustainment support, and a contract for remote weapon stations for the Canadian Army.

What underwater technology developments did KONGSBERG report?

The company received a USD 54 million US government contract related to autonomous underwater capabilities and secured US regulatory approval for its acquisition of Sonatech, expanding its underwater acoustics capabilities.