Kongsberg Gruppen (No_rec, TP: NOK) - Maintaining pace
We expect Kongsberg Gruppen to end 2021 on a high note, with Q4e EBITDA of NOK1,174m (results due at 07:00 CET on 11 February). KDA looks to have had a particularly strong quarter – we estimate EBITDA of NOK639m, along with a record-high NOK34,170m order backlog. We expect a 2021 DPS of NOK10, comprising a NOK5 ordinary dividend (in line with the 40–50% payout policy) and a NOK5 extraordinary dividend. Due to DNB Markets’ role in the potential listing of Kongsberg Digital, we have no recommendation or target price.Kongsberg Gruppen supplies technology systems and solutions to customers engaged in the oil and gas industry, the merchant marine, and the defense and aerospace industries. Co.'s operating segments are Kongsberg Maritime, which delivers products and systems for commercial vessels and offshore installations, as well as for seabed surveys, surveillance, training simulators and fishing vessels and fisheries research; Kongsberg Defence Systems, a supplier of defence and space-related systems; Kongsberg Protech Systems, which provides weapon guidance system Protector RWS for military use; and Kongsberg Oil & Gas Technologies, a supplier of solutions to the international oil and gas industry.
DNB Markets is the investment banking arm of DNB Bank ASA and is focused primarily on the Nordic region, as well as internationally on niches such as global shipping, energy and related services, and seafood. DNB Markets offers services in FICC, Equities and Investment Banking advisory from offices in Oslo, Stockholm, London, Singapore and New York. Equity research coverage is offered on c250 Nordic companies. DNB was ranked no.2 in Extel Nordic Research 2017. The DNB Markets’ Credit and FICC Macro & FX Research teams are repeatedly highly rated by Prospera Nordic Institutional Investor Surveys.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.