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KONGSBERG establishes sensors and robotics as a new business area

Kongsberg Gruppen (KONGSBERG) is a frontrunner in shaping the maritime future by
developing new opportunities throughout the ocean space. To continue this
journey, KONGSBERG has started the process of establishing Sensors & Robotics as
a new business area. The area has until now been a division under Kongsberg
Maritime. 

Kongsberg Maritime and Sensors & Robotics will be managed as two separate
business areas from 1st of January 2023. KONGSBERG will provide restated
historical financial figures for the two business areas when the businesses are
successfully separated, and prior to first external reporting of Sensors &
Robotics - during 2023. 

"The market development and trends we see accelerating, both for Kongsberg
Maritime and Sensors & Robotic, require tight approach and focus. Establishing a
new business area, and at the same time focusing Kongsberg Maritime, will make
us even more agile and unique, and strengthen our business as whole," says CEO
in KONGSBERG Geir Håøy.  

The new business area aims to grow through intensified development of advanced
underwater sensor technology and solutions within underwater acoustics, sonars,
marine and vessel robotics, and positioning systems. 

"The world is currently experiencing several challenges related to climate,
energy, food supply, and security. It is KONGSBERGs commitment to utilize our
knowledge and technologies to develop sustainable innovations directed towards
solutions and concepts solving," says CEO in KONGSBERG Geir Håøy.  

Accelerating growth in underwater technology
In recent years, Sensors & Robotics has experienced strong growth delivering
advanced ocean sensor technology and solutions to both commercial customers and
governments world-wide. The technology is among others utilised in markets such
as research, naval, fishery and offshore energy. The area's core technologies
include underwater acoustics, fish finding technology, marine and vessel
robotics, and positioning systems for safe navigation and operations.

"KONGSBERG is continuously looking for new opportunities to grow its business.
By establishing Sensors & Robotics as a new business area in KONGSBERG, we aim
to accelerate growth in markets for underwater technologies through more focused
investments in research and development as well as other growth initiatives. It
is KONGSBERG's firm belief that this organizational decision will enable a
positive development for both KM and Sensor & Robotics going forward," says
Håøy.

Strengthened core focus for Kongsberg Maritime
Kongsberg Maritime is KONGSBERG's largest business area with more than 7,000
employees across 32 countries. With Sensors & Robotics as a separate business
area it is KONGSBERG's ambition to further strengthen the core areas of
Kongsberg Maritime.

"From a KM perspective, the size and diversity of its portfolio has increased
significantly the last few years. Going forward the key focus is to secure and
further grow the position as the leading maritime system integrator. The
maritime industry is in the midst of a transformation, perhaps one of the
largest shifts at sea in the history. Going forward KM will continue to be a
technology partner and to further strengthen its portfolio and investments to
enable even smarter, greener, safer, and more efficient operations at sea," says
KM President, Lisa Edvardsen Haugan.


KONGSBERG (OSE-ticker: KOG) is an international, knowledge-based group that
supplies high-tech systems and solutions to customers in the energy, merchant,
navy and defence and aerospace industries. KONGSBERG has more than 12,000
employees in 40 countries and a total revenue of NOK 27.5bn in 2021. Follow us
on: kongsberg.com, Facebook, Twitter and LinkedIn.

Click here for more information

© Oslo Bors ASA, Source Oslo Stock Exchange

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