Kongsberg Gruppen Asa · OSL:KOG
Kongsberg Gruppen Asa — Investor Day (2026)
67 slides from Kongsberg Gruppen Asa's investor day presentation, 2026
Slide 1: Capital Markets Day 2026
CAPITAL MARKETS DAY 2026 See Statement of Proprietary information
Slide 2: Agenda
Agenda CEO presentation Eirik Lie CFO presentation Martin Wien Fjell Defence Systems Kjetil Reiten Myhra Missiles & Aerostructures Øyvind Kolset Discovery Camilla Kiss Q&A All
Slide 3: See Statement of Proprietary information
See Statement of Proprietary information
Slide 4: Protechting People and Planet
Protechting People and Planet Eirik Lie CEO See Statement of Proprietary information
Slide 5: Disclaimer
Disclaimer • This presentation contains certain “forward-looking information and statements” within the meaning of applicable laws and regulations. These statements include, but are not limited to, statements regarding the Company’s expectations, plans, strategies, business outlook, market opportuni
Slide 6: The world today
The world today →US focus on Homeland and China →Europe needs to handle own security →Conflicts in the Middle East →Global Defence Ramp-up See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 7: Strong market growth
Strong market growth Defence procurement, addressable USD bn, nominal 700 125 485 82 255 257 188 51 RoW* 62 320 Europe 216 145 United States 2020 2025 2030 Source: Janes *Addressable market CAPITAL MARKETS DAY 2026 See Statement of Proprietary information
Slide 8: Defence industry disruption
Defence industry disruption Evolving threats require innovative solutions → Full spectrum air defence – from Counter-UAS to anti- tactical ballistic missiles → ‘Affordable mass’ to match cost and threats → Strike capabilities to eliminate threats early → Evolving threats impacting maritime domain AI
Slide 9: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned Space World-leading provider of ground station services and Europe’s largest LEO satellite manufacturer with offerings from Strike missiles the deep sea Premier supplier, selected by 15 nations, adding affordable mass capacity to space Air defence Most sold air defence system in
Slide 10: Well positioned for growth
Well positioned for growth Core portfolio growth Rapid innovation Dual-use technology High volume Source: Janes CAPITAL MARKETS DAY 2026 See Statement of Proprietary information
Slide 11: Market-leading affordable mass missiles
White Spike Market-leading affordable mass missiles → Scalable, high-volume production Rusty Dagger → Field-proven solutions • US contracts → Strike and air defence missiles • Complementary to KONGSBERG portfolio See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 12: Delivering on our backlog
Priority #1 Delivering on our backlog Norway US Australia See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 13: What we said
CMD 2024 What we said See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 14: Our revenue ambition
Our revenue ambition 2029, NOK 2033, NOK 100 Billion 150 Billion EBIT 16% CAPITAL MARKETS DAY 2026
Slide 15: See Statement of Proprietary information
See Statement of Proprietary information
Slide 16: Continued, profitable growth
Continued, profitable growth Martin Wien Fjell CFO See Statement of Proprietary information
Slide 17: A history of profitable growth
A history of profitable growth Operating revenues EBIT and EBIT-margin NOK billion 5.5 4.0 34.7 6,0 NOK billion, % of sales 25% 3.5 5,0 15.8% 20% 3.0 4,0 2.5 15% 8.0% 2.0 3,0 1.5 10.5 2,0 10% 1.0 1,0 0.8 5% 0.5 - - 0% 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 LTM 2016 2017 2018 2019 2020 202
Slide 18: Three strong divisions
Three strong divisions Group 15,8 % 15,1 % Defence Systems Missiles & Aerostructures Discovery 13,9 % 13,3 % Revenue (NOK billion) & EBIT (%) 15.4 18 25% 21.2% 17.3% 16.9% 20.3% 23% 16 14.3 12 14 18.7% 21% 17% 9 17.0% 17.5% 10 10.3 17% 34,7 19% 13.1% 8 13.0% 15% 9.8 12 7.9 8.1 32,8 18.6% 17% 7 15% 8
Slide 19: Financial ambitions mid- and long-term
Financial ambitions mid- and long-term Operating revenues Key revenue growth drivers: NOK billion 150 → Deliver on existing backlog, win and execute on a solid core portfolio pipeline → Evolve Full Spectrum Air Defense and C-UAS 100 → Broaden missile portfolio → Disrupt traditional naval technology
Slide 20: Patria
ASSOCIATED COMPANY (49.9%) → All Business Areas continue to grow, with the armored vehicle segment remaining a key driver Patria → Profitability improvement remains a priority, supported by a dedicated program and operational leverage – Business update & key figures* → Backlog at record-high levels
Slide 21: Capital allocation is key to secure profitable growth
Capital allocation is key to secure profitable growth 3. Competitive Shareholder 1. Solid Balance Sheet 2. Invest for Organic Growth 4. Portfolio Management Remuneration Our operation requires good → Investments in capacity and → Stable or growing ordinary Actively manage the business liquidity and
Slide 22: 1. Solid Balance Sheet
CAPITAL ALLOCATION 1. Solid Balance Sheet KONGSBERG defines a solid balance sheet as maintaining an Investment Grade-rating 1 Operating as a credible defense supplier and partner to nations NIBD / EBITDA Customer requires a solid financial position. Long term rating Outlook confidence KONGSBERG ther
Slide 23: 2. Invest for organic growth – PP&E
CAPITAL ALLOCATION 2. Invest for organic growth – PP&E Capital expenditures PP&E (NOK billion), % of revenue 3,0 25% KONGSBERG continues to invest for growth 2,5 2.4 20% 2,0 15% → Capacity expansions ongoing: → Missile factories in Australia and USA 1,5 10% → Assembly, Poland 7.1% → Assembly, USA 1,
Slide 24: 2. Invest for organic growth – R&D
CAPITAL ALLOCATION 2. Invest for organic growth – R&D Expensed and capitalized R&D (NOK billion), % of revenue 1.3 1,4 25% 1,2 20% Investing in R&D to maintain and take on 1,0 15% new positions → Customer funded R&D programs, such as 3SM, 0,8 0.5 10% 0,6 remain important for KONGSBERG 3.8% → Speed o
Slide 25: 2. Invest for organic growth - NWC
CAPITAL ALLOCATION 2. Invest for organic growth - NWC Net working capital has developed strongly Net working capital (NOK billion), % of revenue → Long-term, construction-type contracts based on customer specifications 2,0 0.3 25% → Advance and progress payments customary, 2019 2020 2021 2022 2023 2
Slide 26: 3. Shareholder Remuneration
CAPITAL ALLOCATION 3. Shareholder KONGSBERG maintains its dividend policy → Aim to provide competitive shareholder remuneration Remuneration → Stable or growing ordinary dividends → Supplemented by discretionary special dividends and/or share buybacks 5.7 Dividend per share (NOK) Total shareholder r
Slide 27: 4. Portfolio Management – M&A
CAPITAL ALLOCATION 4. Portfolio Management – M&A M&A Strategy → M&A remains a tool to fulfill our strategic objectives → Typical features of an M&A target → Offers products that complement product portfolio → Provides access to technology → Provides access to markets or sales channels See Statement
Slide 28: JVs and partners critical for innovation, capacity and growth
JVs and partners critical for innovation, capacity and growth Joint ventures Partners Proven for private and public collaboration through shared companies’ strategy Essential to business Reporting: Reporting segment: Reporting segment: Reporting segment: Share of net income from joint Discovery Defe
Slide 29: See Statement of Proprietary information
See Statement of Proprietary information
Slide 30: Delivering Integrated Defence Capabilities
Defence Systems Delivering Integrated Defence Capabilities Kjetil Reiten Myhra EVP See Statement of Proprietary information
Slide 31: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned Space World-leading provider of ground station services and Europe’s largest LEO satellite manufacturer with offerings from Strike missiles the deep sea Premier supplier, selected by 15 nations, adding affordable mass capacity to space Air defence Most sold air defence system in
Slide 32: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned with offerings from Air defence the deep sea Most sold air defence system in the world, selected by 18 nations to space Remote weapon systems ~80% global market share Counter-UAS Industry-leading supplier of anti-drone solutions CAPITAL MARKETS DAY 2026
Slide 33: Defence Systems
Defence Systems Advanced Air & Coastal Naval Land Emerging Solutions Defence Systems Systems Systems Business Air Surveillance Full Spectrum Air Defence Naval Combat Systems Remote Weapon Stations Vanguard Digital Towers Coastal Defence Mine Countermeasures Medium Caliber Turrets Unmanned Systems Co
Slide 34: Remote Weapon Stations (RWS)
Remote Weapon Stations (RWS) The leading RWS worldwide with more than 30,000 units produced Common Remotely Operated Weapon Station (CROWS) in the US Integrates a wide range of guns and effectors Platform agnostic CAPITAL MARKETS DAY 2026
Slide 35: Medium Caliber Turret (MCT)
Medium Caliber Turret (MCT) Uncrewed 30mm turret in production for the U.S. Marine Corps, US FMS customers and C-UAS programs Uncrewed Dual-role capability Lightweight and high precision Versatile and upgradeable Reference programs • USMC Amphibious Combat Vehicle (ACV) • USMC Advanced Reconnaissanc
Slide 36: Anti-Drone (C-UAS) solutions
Anti-Drone (C-UAS) solutions KONGSBERG is at the forefront with cost-effective mass-producible C-UAS solutions U.S. Marine Corps’ MADIS program deployed in the Pacific since 2024 Typhon C-UAS operational in Ukraine since 2024 Polish drone wall program underway with Polish partners PGZ and APS Rapid
Slide 37: NOMADS
NOMADS Manoeuvre air defence Short-range air defence (SHORAD) Extreme mobility Platform agnostic IRIS-T missile AIM-9X-2 missile CAPITAL MARKETS DAY 2026
Slide 38: NASAMS
NASAMS World leading combat proven air defence selected by 18 nations! AMRAAM AMRAAM ER AIM-9X-2 CAPITAL MARKETS DAY 2026
Slide 39: Full Spectrum Air Defence (FSAD)
Full Spectrum Air Defence (FSAD) Growing our air defence solutions into Long-Range Air Defence (LRAD) and Anti-Tactical Ballistic Missile (ATBM) segments Integrated Air and Missile Defence (IAMD) Defends against a wide threat spectrum Low operational cost Open and modular architecture Real-time inte
Slide 40: Vanguard
Vanguard Modular and cost-effective solutions for the future, optimized for uncrewed augmentation Breaking the cost-curve: As civilian as possible and only as military as necessary Inherent MUM-T capabilities Supports strike firepower rivalling frigates Selected with SALT Ship Design for the design
Slide 41: Capital Markets Day 2026
CAPITAL MARKETS DAY 2026 See Statement of Proprietary information
Slide 42: Capital Markets Day 2026
CAPITAL MARKETS DAY 2026 See Statement of Proprietary information
Slide 43: Enabling Scalable Strike Capabilities
Missiles & Aerostructures Enabling Scalable Strike Capabilities Øyvind Kolset EVP See Statement of Proprietary information
Slide 44: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned Space World-leading provider of ground station services and Europe’s largest LEO satellite manufacturer with offerings from Strike missiles the deep sea Premier supplier, selected by 15 nations, adding affordable mass capacity to space Air defence Most sold air defence system in
Slide 45: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned with offerings from the deep sea to space Strike missiles Premier supplier, selected by 15 nations, adding affordable mass capacity CAPITAL MARKETS DAY 2026
Slide 46: 4 Business Units
Missiles & Aerostructures 4 Business Units Sub-sonic Super-sonic Aerostructures Emerging Missile Programs Missile Programs and MRO Business → Naval Strike Missile → Supersonic Strike Missile → F-35 parts & panels → Affordable Mass Missiles → Joint Strike Missile → AMRAAM Control & Actuator → MRO for
Slide 47: NSM - Naval Strike Missile
NSM - Naval Strike Missile Superior operational performance and survivability against all enemy defense systems → 5th Generation Strike Missile → Selected by 15 nations → Order backlog growing rapidly See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 48: NSM Coastal Defence System
NSM Coastal Defence System Significant strike power achieved with low-cost systems → CDS Selected by 4 nations → Manned & unmanned vehicles → Growing market interest See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 49: JSM - Joint Strike Missile
JSM - Joint Strike Missile The only powered strike missile integrated internally into F-35 → Based on NSM technology → Selected by 5 key customers → Multiple potential platforms in addition to F-35 See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 50: Supersonic Strike Missile – 3SM
Supersonic Strike Missile – 3SM State-of-the-art Supersonic Strike Missile under development in cooperation with DIEHL, MBDA Germany → Operational in mid 2030’s → Long-range missile for heavily defended maritime and land targets → Complementary to NSM and JSM See Statement of Proprietary information
Slide 51: US based developer of innovative and disruptive products within counter-UAS and cruise missiles
US based developer of innovative and disruptive products within counter-UAS and cruise missiles → Low-cost, scalable missile systems Rusty Dagger White Spike Paladin → Cruise missile and precision strike concepts → Counter-drone (C-UAS) solutions and autonomous systems See Statement of Proprietary i
Slide 52: Expanding production
Expanding production Investment in production capacity to meet demand → Building missile factories in USA and Australia → Expanding supply chain to increase resilience See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 53: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned with offerings from the deep sea to space Strike missiles Premier supplier, selected by 15 nations, adding affordable mass capacity CAPITAL MARKETS DAY 2026
Slide 54: See Statement of Proprietary information
See Statement of Proprietary information
Slide 55: Technology from deep sea to space
Discovery Technology from deep sea to space Camilla Kiss EVP See Statement of Proprietary information
Slide 56: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned Space World-leading provider of ground station services and Europe’s largest LEO satellite manufacturer with offerings from Strike missiles the deep sea Premier supplier, selected by 15 nations, adding affordable mass capacity to space Air defence Most sold air defence system in
Slide 57: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned with offerings from the deep sea Space to space World-leading provider of ground station services and Europe’s largest LEO satellite manufacturer Underwater capabilities Leading supplier of sensors and autonomy technology CAPITAL MARKETS DAY 2026
Slide 58: Competitive advantages
Competitive advantages → Domain knowledge → Rapid innovation → Dual-use See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 59: Technologies for dual-use
Technologies for dual-use SY 50 HUGIN RADius Satellite Fish finding Pipeline inspection Relative positioning Weather data Naval Sonars HUGIN DR100 Space for Defence Mine detection Counter-UAS CAPITAL MARKETS DAY 2026
Slide 60: Underwater Defence Technology
Underwater Defence Technology Sovereign underwater capabilities Strong defence-market focus World-leading autonomy Advanced sensor technology Used by 5 NATO nations See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 61: Rapid Innovation
Rapid Innovation Under development HUGIN family See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 62: Space for defence
Space for defence Provide multi-sensor information fused into a common picture with minimal time delay for defence purposes. → Connectivity & Communications → Intelligence, Surveillance, and Reconnaissance (ISR) & Targeting → Missile Early Warning → Responsive Space See Statement of Proprietary info
Slide 63: KONGSBERG Value Chain within space
KONGSBERG Value Chain within space Small Satellite Advanced Satellite Satellite Launch Ground Network Space based Platforms Sensors Factories(AIT) Defence systems
Slide 64: Positioned to capture growth in Space for Defence
SATCOM CONSTELLATIONS Positioned to capture growth in Space for Defence ISR CONSTELLATIONS FIXED GROUND STATIONS SPACEPORT RESEARCH/MANUFACTURING DEPLOYABLE COMMAND POSTS DEPLOYABLE GROUND STATIONS See Statement of Proprietary information CAPITAL MARKETS DAY 2026
Slide 65: Capital Markets Day 2026
CAPITAL MARKETS DAY 2026 See Statement of Proprietary information
Slide 66: Uniquely positioned with offerings from the deep sea to space
Uniquely positioned Space World-leading provider of ground station services and Europe’s largest LEO satellite manufacturer with offerings from Strike missiles the deep sea Premier supplier, selected by 15 nations, adding affordable mass capacity to space Air defence Most sold air defence system in
Slide 67: Proportionate figures according to ownership
APM Proportionate figures according to ownership Defence Systems Missiles & Aerostructures Discovery KONGSBERG BNOK - LTM IFRS Adj.1 APM IFRS Adj. APM IFRS Adj.2 APM IFRS Adj.1,2 APM Revenue 15.3 0.1 15.4 10.3 - 10.3 7.0 1.1 8.1 33.5 1.2 34.7 EBIT 2.9 0.0 2.9 1.7 - 1.7 1.2 0.2 1.4 5.2 0.3 5.5 Order