Latest news with #KongsbergGruppen
Business Insider
11-07-2025
- Business
- Business Insider
Kongsberg Gruppen (NSKFD) Gets a Sell from Kepler Capital
Kepler Capital analyst Martin Granviken maintained a Sell rating on Kongsberg Gruppen on July 9 and set a price target of NOK270.60. The company's shares closed yesterday at $32.80. Don't Miss TipRanks' Half-Year Sale Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. According to TipRanks, Granviken is ranked #6885 out of 9822 analysts. Currently, the analyst consensus on Kongsberg Gruppen is a Moderate Sell with an average price target of $32.15, representing a -1.97% downside. In a report released on June 25, Pareto also downgraded the stock to a Sell with a NOK297.00 price target.
Reuters
08-05-2025
- Business
- Reuters
Kongsberg's profit soars in 1st quarter on defence systems demand
May 8 (Reuters) - Norwegian defence equipment maker Kongsberg Gruppen ( opens new tab reported an 81% higher first-quarter core profit on Thursday, driven by demand for its missiles and air defence systems among others.
Yahoo
08-05-2025
- Business
- Yahoo
Kongsberg's profit soars in 1st quarter on defence systems demand
(Reuters) -Norwegian defence equipment maker Kongsberg Gruppen reported an 81% higher first-quarter core profit on Thursday, driven by demand for its missiles and air defence systems among others. Its operating earnings before depreciation and amortisation (EBITDA) soared to 3.29 billion Norwegian crowns ($318.3 million) in the first quarter on the year. ($1 = 10.3369 Norwegian crowns) (Reporting by Marta Frąckowiak in Gdansk; Editing by Milla Nissi-Prussak)
Yahoo
21-02-2025
- Business
- Yahoo
Speed up defence output by 'militarizing civilian ships', Kongsberg suggests
By Sabine Siebold BERLIN (Reuters) - Adapting civilian platforms for military use can speed up defence production while increasing standardization, the CEO of Norway's Kongsberg Gruppen said, as pressure to boost military spending in Europe grows under President Donald Trump. "The processes need to be simplified so that we get the speed up," arms manufacturer Kongsberg's Geir Haoy told Reuters in an interview published on Friday. See for yourself — The Yodel is the go-to source for daily news, entertainment and feel-good stories. By signing up, you agree to our Terms and Privacy Policy. "What we see is that, even from the defence side now, the question is: How can we utilize commercial products and systems and put them into military systems and militarize them?" Last week, the Trump administration shocked European allies by telling them they must take care of their own security and rely less on the U.S., while announcing talks with Russia to end the war in Ukraine. U.S. Secretary of Defense Pete Hegseth pushed Europeans to hike military spending to 5% of GDP, warning "stark strategic realities" would prevent the U.S. from being primarily focused on the security of Europe. European defence stocks rose after these remarks. As many countries are working on modernizing and increasing their navies, Haoy said one solution would be to standardize vessels by basing them on civilian platforms and militarizing them, thus mitigating the problem of differing standards and platforms. "You make them as civilian as possible and as military as necessary. That means that you can actually speed up production, get the cost down - and you get a very sophisticated vessel," he said. Haoy referred to Ukraine where multiple supply chains for different weapons systems were difficult to support and cost additional time and money. "If we could standardize more, use civilian platforms, militarize them and put the capabilities and capacities on board, that is what we think is one solution to speed up the capacities." Besides building their own capacities, big defence companies should also focus on securing their supply chains which normally consist of smaller, medium-sized companies that "cannot easily take that kind of investment upfront", he said. "That is what we are trying to understand here in Europe now: How can we sustain this supply chain even with bigger capacity, and how can we source this?"
Reuters
21-02-2025
- Business
- Reuters
Speed up defence output by 'militarizing civilian ships', Kongsberg suggests
BERLIN, Feb 21 (Reuters) - Adapting civilian platforms for military use can speed up defence production while increasing standardization, the CEO of Norway's Kongsberg Gruppen said, as pressure to boost military spending in Europe grows under President Donald Trump. "The processes need to be simplified so that we get the speed up," arms manufacturer Kongsberg's ( opens new tab Geir Haoy told Reuters in an interview published on Friday. "What we see is that, even from the defence side now, the question is: How can we utilize commercial products and systems and put them into military systems and militarize them?" Last week, the Trump administration shocked European allies by telling them they must take care of their own security and rely less on the U.S., while announcing talks with Russia to end the war in Ukraine. U.S. Secretary of Defense Pete Hegseth pushed Europeans to hike military spending to 5% of GDP, warning "stark strategic realities" would prevent the U.S. from being primarily focused on the security of Europe. European defence stocks rose after these remarks. As many countries are working on modernizing and increasing their navies, Haoy said one solution would be to standardize vessels by basing them on civilian platforms and militarizing them, thus mitigating the problem of differing standards and platforms. "You make them as civilian as possible and as military as necessary. That means that you can actually speed up production, get the cost down - and you get a very sophisticated vessel," he said. Haoy referred to Ukraine where multiple supply chains for different weapons systems were difficult to support and cost additional time and money. "If we could standardize more, use civilian platforms, militarize them and put the capabilities and capacities on board, that is what we think is one solution to speed up the capacities." Besides building their own capacities, big defence companies should also focus on securing their supply chains which normally consist of smaller, medium-sized companies that "cannot easily take that kind of investment upfront", he said.
