Business
Norway’s Kongsberg Gruppen Targets Sharp Rise in Revenue
Norwegian defense group Kongsberg Gruppen KOG -4.27%decrease; red down pointing triangle aims to more than quadruple its revenue in the coming years, buoyed by the development of new products and the continued rise in global military spending.
Presenting its new targets at an investor day, Kongsberg said it is aiming to increase revenue from 33 billion Norwegian kroner ($3.47 billion) in 2025 to 100 billion kroner in 2029 and 150 billion kroner in 2033. It targets an operating margin of over 16%, from 15.1% in 2025.
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