DOCSLIB.ORG

Investor Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investor Presentation Kongsberg Gruppen ASA Q3 2008 WORLD CLASS – through people, technology and dedication AGENDA • Financial status at Q3 2008 • Status for the business areas • Updates • Appendix 2 Continued progress in Q3 Operating revenue EBITA / EBITA margin 3,000 2,561 350 331 14% 2,500 300 12% 1,967 2,000 250 225 10% 1,450 1,402 1,500 200 155 8% 150 137 6% 1,000 100 4% 500 50 2% 0 0 0% Q3 2005 2006 2007 2008 2005 2006 2007 2008 EBITA EBITA margin New orders Backlog 4,500 4,151 4,216 18,000 17,111 15,376 16,000 4,000 14,000 12,646 3,500 12,000 3,000 10,000 2,500 1,814 8,000 6,472 2,000 5,416 6,000 1,500 1,303 4,000 1,000 2,000 500 0 0 2005 2006 2007 At Q2 At Q3 2008 2008 Q3 2005 2006 2007 2008 3 Status 2008 YTD Operating revenue EBITA / EBITA margin 10,000 900 803 12% 7,666 800 8,000 10% 700 6,091 576 6,000 600 8% 4,320 4,652 500 4,000 6% 400 332 2,000 300 253 4% 200 0 2% 100 YTD 0 0% 2005 2006 2007 2008 2005 2006 2007 2008 EBITA EBITA margin New orders Backlog 14,000 18,000 17,111 12,430 11,991 16,000 12,000 14,000 13,071 12,646 10,000 12,000 8,000 10,000 6,000 5,210 8,000 6,472 4,441 5,416 6,000 4,000 4,000 2,000 2,000 0 0 YTD 2005 2006 At Q3 2007 AT Q3 2007 2008 2005 2006 2007 2008 4 Financial status for Q3 2008 Quarterly trends in operating revenue and EBITA Operating revenue 3,000 2,752 2,561 2,500 2,353 • Operating revenue up by 30 per cent 2,271 2,215 2,068 1,967 compared with the same quarter of 2,000 1,853 1,683 1,567 2007 1,500 1,402 • MNOK 7 666 YTD, up 26 per cent 1,000 from MNOK 6 091 at 30 September 500 2007 0 Q1 Q2 Q3 Q4 2006 2007 2008 • The EBITA came to MNOK 331 in Q3 2008, up 47 per cent year-on-year • The YTD EBITA is up MNOK 227 EBITA relative to Q3 2007 350 331 300 277 • The EBITA margin was 12.9 per cent 250 225 220 in Q3 (11.4 per cent), 195 196 200 155 • YTD: 10.5 per cent (9.5 per cent) 150 137 132 102 93 100 50 0 Q1 Q2 Q3 Q4 2006 2007 2008 5 Financial status at Q3 2008 New orders and the backlog of orders Backlog • The backlog of orders has increased by 18,000 17,111 16,000 35 per cent thus far this year 14,000 12,646 13,071 Up 11 per cent during the quarter 12,000 10,000 8,000 • New orders for the Group totalled MNOK 4 216 6,472 6,000 5,416 in Q3 (MNOK 4 151) 4,000 MNOK 11 991 thus far in 2008 (MNOK 12 430) 2,000 Good influx of new orders in both business 0 2005 2006 2007 Pr. Q3 2007 Pr. Q3 2008 areas New orders 16,000 14,338 14,000 12,430 11,991 12,000 10,000 7,672 8,000 5,683 6,000 4,000 2,000 0 2005 2006 2007 Pr. Q3 2007 Pr. Q3 2008 6 Financial status at Q3 2008 Cash flow YTD • Investments in tangible fixed assets Net cash flow YTD 2008 (MNOK) • The construction of a new composite plant – MNOK 320 EBITDA 935 Change in pre-payments from customers (64) • New factory for weapon control Change in other operational items (1 039) systems in the USA – MNOK 56 Cash flow from operating activities (168) Acquisition of fixed assets (584) • Acquisition of subsidiaries Acquisition of subsidiaries (535) • GlobalSim – MNOK 84 Other investing activities (43) • Hydroid – MNOK 404 Cash flow from investing activities (1 162) • GeoAcoustics – MNOK 42 Cash flow from finansing activities 525 Net change, bank deposits and cash equivalents (805) • KONGSBERG had net interest- bearing debt of MNOK 1 269 at 30 September Net interest-bearing debt at 30 September 2008 1 269 • At year end, the Group had net cash reserves of MNOK 242 7 Key figures Q3 Q3 YTD YTD 2007 2006 2005 2008 2007 2008 2007 Change, top line 30% 40% 26% 31% 24% 16% -4% EBITDA 379 268 935 706 966 627 536 EBITDA/employee (NOK 1 000) 78 65 200 180 246 179 156 EBITA 331 225 803 576 796 464 378 EBITA margin 12.9% 11.4% 10.5% 9.5% 9.6% 6.9% 6.5% EBT 180 202 616 492 685 390 314 Gearing ratio 47.3% 10.3% -9% 17% 19% Asset turnover ratio 1.00 0.96 0.90 Equity (%) 24.5% 25.4% 30% 23% 23% Book/bill 1.65 2.11 1.56 2.04 1.73 1.14 0.98 EPS 3.13 4.63 13.30 11.40 16.17 8.30 7.19 8 Kongsberg Maritime Status 9 Another strong quarter for Kongsberg Maritime Operating revenue EBITA / EBITA margin 1,600 1,456 250 14% 1,400 193 12% 1,174 200 1,200 10% 1,000 839 150 136 741 8% 800 82 93 6% 600 100 4% 400 50 200 2% 0 0 0% Q3 2005 2006 2007 2008 2005 2006 2007 2008 EBITA EBITA-margin Backlog New orders 8,000 7,357 2,500 7,000 6,597 2,137 1,918 6,000 5,333 2,000 5,000 1,500 4,000 3,054 1,085 3,000 2,158 1,000 857 2,000 1,000 500 0 2005 2006 2007 Pr. Q2 Pr. Q3 0 2008 2008 Q3 2005 2006 2007 2008 10 Kongsberg Maritime Status YTD Operating revenue EBITA / EBITA margin 5,000 4,502 600 534 14% 4,000 3,539 500 12% 377 10% 3,000 2,312 2,566 400 8% 2,000 300 244 190 6% 1,000 200 4% 0 100 2% YTD 0 0% 2005 2006 2007 2008 2005 2006 2007 2008 EBITA EBITA-margin Backlog New orders 8,000 7,357 7,000 6,386 5,886 7,000 6,000 5,469 6,000 5,333 5,000 5,000 4,000 3,326 4,000 3,054 3,000 2,760 3,000 2,158 2,000 2,000 1,000 1,000 0 0 2005 2006 Pr. Q3 2007 Pr. Q3 YTD 2007 2008 2005 2006 2007 2008 11 Kongsberg Maritime Quarterly trends in operating revenues and EBITA Operating revenue 1,800 1,663 • Revenues climbed by 24 per cent 1,600 1,456 1,383 1,400 1,338 1,311 relative to Q3 2007 1,174 1,200 1,027 • Up 27 per cent YTD 987 1,000 865 862 839 800 600 • The EBITA came to MNOK 193 at Q3 400 2008, up 42 per cent year-on-year 200 0 • Up 42 per cent YTD Q1 Q2 Q3 Q4 • The EBITA margin was 13.3 per cent 2006 2007 2008 (11.6 per cent) • YTD: 11.9 per cent (10.7 per cent) EBITA 250 196 YTD operating revenues, by division 200 193 2008 2007 145 150 136 130 129 24 % 22 % 111 93 100 84 85 67 50 11 % 12 % 64 % 67 % 0 Q1 Q2 Q3 Q4 2006 2007 2008 Offshore & Marine Oil & Gas Subsea 12 Kongsberg Maritime New orders and the backlog of orders Backlog • Backlog of orders up 38 per cent since year 8 000 7 357 end 7 000 6 597 6 187 6 000 • Up 12 per cent during the quarter 5 4695 333 5 000 4 686 4 000 3 687 2 9333 054 2 673 • Sales orders in this year's first three quarters 3 000 2 466 2 000 climbed by 8 per cent compared with the same 1 000 months of 2007 0 • Q3 rise of 11 per cent compared with 2007 Q1 - 06 - Q1 06 - Q2 06 - Q3 06 - Q4 07 - Q1 07 - Q2 07 - Q3 07 - Q4 08 - Q1 08 - Q2 08 - Q3 YTD new orders, by division New orders 8,000 2008 7,218 2007 7,000 6,386 20 % 5,886 6,000 24 % 5,000 4,408 4,000 3,566 10 % 3,000 11 % 2,000 70 % 65 % 1,000 0 2005 2006 2007 Pr. Q3 07 Pr. Q3 08 Offshore & Marine Oil & Gas Subsea 13 Kongsberg Maritime in Q3 • The BA has a high delivery rate in all segments • The subsea boom is continuing • Good influx of new orders during the quarter • The backlog of orders is record high • Continued focused marketing activities • The Group acquired GeoAcoustics Ltd. of the UK in Q3 14 Kongsberg Defence & Aerospace Status 15 Continued progress in Kongsberg Defence & Aerospace Operating revenue EBITA / EBITA margin 1,200 160 14% 1,076 138 1,000 140 12% 762 120 10% 800 686 100 85 76 8% 600 532 80 57 6% 60 400 40 4% 200 20 2% 0 0 0% Q3 2005 2006 2007 2008 2005 2006 2007 2008 EBITA EBITA margin Backlog New orders 12,000 2,500 2,193 9,681 2,083 10,000 2,000 7,603 8,000 7,232 1,500 6,000 4,000 3,124 3,253 1,000 693 2,000 500 418 0 2005 2006 2007 Pr.
Load more

Recommended publications
  • Annu Al Repor T and Sus Tainabilit Y
    SUSTAINABILITY REPORT ANNUAL REPORT AND 2014 “Overall, KONGSBERG had a good year in 2014, with good earnings and cash flows, growth in revenues, and record-high orders” 1 Introduction 8 Directors’ Report and Financial Statements 86 Corporate Governance 100 Shareholder’s information 104 Sustainability Report 149 Financial calendar and contact information CONTENT – ANNUAL REPORT AND SUSTAINABILITY REPORT 2014 Cover Key figures 2014 8 Directors’ Report and 86 Corporate Governance 104 Sustainability Report Financial Statements 87 The Board’s Report on 104 Content 1 Introduction 9 Short summary Business Corporate Governance 106 Introduction 2 Extreme Areas 88 Policy – Kongsberg Gruppen 118 Sustainable innovation performance for 10 Directors’ Report 2014 89 Articles of Association 123 What have we achieved? extreme conditions 25 Financial statements, – Kongsberg Gruppen 131 Systems of governance 4 President and CEO contents 90 The Board’s Report on The and key figures Walter Qvam 26 Consolidated financial Norwegian Code of Practice 6 This is KONGSBERG statements 149 Financial calendar and 73 Financial statements 100 Shareholder’s information contact information – Kongsberg Gruppen ASA 101 Shares and shareholders 83 Statement from the Board of Directors 84 Auditor’s Report KONGSBERG • Annual Report and Sustainability Report 2014 1 Introduction 8 Directors’ Report and Financial Statements 86 Corporate Governance 100 Shareholder’s information 104 Sustainability Report 149 Financial calendar and contact information KEY FIGURES 2014 2013 2012 2011
    [Show full text]
  • Kongsberg Gruppen ASA - Climate Change 2020
    Kongsberg Gruppen ASA - Climate Change 2020 C0. Introduction C0.1 (C0.1) Give a general description and introduction to your organization. Kongsberg Gruppen (KONGSBERG) is an international technology group that delivers advanced and reliable solutions that improve safety, security and performance in complex operations and under extreme conditions. KONGSBERG works with demanding customers in the global defence, maritime, oil and gas, fisheries and aerospace sectors. The Group is divided into three business areas. Our headquarters is in Norway, and we have operations in more than 40 countries. Per 31. December 2019 we had almost 11 thousand employees, and total revenue was MNOK 24.081 (about 2.738 billion USD). Kongsberg Gruppen ASA is listed on the Oslo Stock Exchange and is subject to Norwegian securities legislation and stock exchange regulations. The Norwegian state owns 50.001 per cent of the shares in the company. KONGSBERG’s deliveries are often of strategic importance for our customers, and contribute to the satisfaction of important societal needs and development trends within sectors such as safety, energy, transport and climate. It is important for KONGSBERG to hold technological and product positions where we are either world-leading or have the potential to become world-leading in the long term. KONGSBERG’s strategic goal is to utilise our technologies to develop sustainable solutions for today’s societal challenges. Our deliveries are facilitating a green switch in shipping, optimal management of the ocean’s resources, monitoring of the condition of the oceans using data and information from satellites, as well as greater security for society. This is positioning KONGSBERG as a highly attractive employer for the recruitment of new talent for value creation and growth going forward.
    [Show full text]
  • 2017-2018 Annual Investment Report Retirement System Investment Commission Table of Contents Chair Report
    South Carolina Retirement System Investment Commission 2017-2018 Annual Investment Report South Carolina Retirement System Investment Commission Annual Investment Report Fiscal Year Ended June 30, 2018 Capitol Center 1201 Main Street, Suite 1510 Columbia, SC 29201 Rebecca Gunnlaugsson, Ph.D. Chair for the period July 1, 2016 - June 30, 2018 Ronald Wilder, Ph.D. Chair for the period July 1, 2018 - Present 2017-2018 ANNUAL INVESTMENT REPORT RETIREMENT SYSTEM INVESTMENT COMMISSION TABLE OF CONTENTS CHAIR REPORT Chair Report ............................................................................................................................... 1 Consultant Letter ........................................................................................................................ 3 Overview ................................................................................................................................... 7 Commission ............................................................................................................................... 9 Policy Allocation ........................................................................................................................13 Manager Returns (Net of Fees) ..................................................................................................14 Securities Lending .....................................................................................................................18 Expenses ...................................................................................................................................19
    [Show full text]
  • Vanguard Total World Stock Index Fund Annual Report October 31, 2020
    Annual Report | October 31, 2020 Vanguard Total World Stock Index Fund See the inside front cover for important information about access to your fund’s annual and semiannual shareholder reports. Important information about access to shareholder reports Beginning on January 1, 2021, as permitted by regulations adopted by the Securities and Exchange Commission, paper copies of your fund’s annual and semiannual shareholder reports will no longer be sent to you by mail, unless you specifically request them. Instead, you will be notified by mail each time a report is posted on the website and will be provided with a link to access the report. If you have already elected to receive shareholder reports electronically, you will not be affected by this change and do not need to take any action. You may elect to receive shareholder reports and other communications from the fund electronically by contacting your financial intermediary (such as a broker-dealer or bank) or, if you invest directly with the fund, by calling Vanguard at one of the phone numbers on the back cover of this report or by logging on to vanguard.com. You may elect to receive paper copies of all future shareholder reports free of charge. If you invest through a financial intermediary, you can contact the intermediary to request that you continue to receive paper copies. If you invest directly with the fund, you can call Vanguard at one of the phone numbers on the back cover of this report or log on to vanguard.com. Your election to receive paper copies will apply to all the funds you hold through an intermediary or directly with Vanguard.
    [Show full text]
  • ANNUAL REPORT and SUSTAIN ABILITY REPORT 2018 01 Year 2018 02 About 03 Sustainability 04 Corporate 05 Directors’ Report and KONGSBERG Governance Financial Statements
    ANNUAL REPORT AND SUSTAIN ABILITY REPORT 2018 01 Year 2018 02 About 03 Sustainability 04 Corporate 05 Directors’ Report and KONGSBERG Governance Financial Statements 01 02 3 YEAR 2018 11 ABOUT KONGSBERG 4 Key Figures 2018 12 This is KONGSBERG 7 Important milestones 2018 14 Strategy and ambitions 8 President and CEO Geir Håøy 15 Vision 16 Our values 17 Corporate Executive Management 18 Business areas 28 The world of KONGSBERG 03 04 34 SUSTAINABILITY 75 CORPORATE GOVERNANCE 35 About the Sustainability Report 76 The Board’s Report on Corporate 36 Framework for the preparation of Governance Sustainability Report 77 Policy 37 Responsible Business Conduct 78 Articles of Association 38 Responsible Tax – our Tax Policy 79 Board of Directors 40 Organisation and Management Systems 80 The Board’s Report relating to “The 41 Focus areas 2018–2019 Norwegian Code of Practice for Corporate 67 Climate Statement and Key Figures Governance” 74 Auditor’s Report, Sustainability Interactive PDF with bookmarks Navigate in Contents and hyperlinked text (hyperlinks are underlined). You can 05 browse one page back or forward by using the arrows in the top right-hand corner. Use the menu button on the far left to go back to the table of contents. The chapters are also bookmarked, and you can find short cuts to these in the 92 DIRECTORS’ REPORT AND left-hand menu of the PDF Reader. FINANCIAL STATEMENTS 93 Directors’ Report 2018 111 Financial Statements and Notes 182 Statement from the Board 183 Auditor’s report 2018 187 Financial calendar 187 Contact KONGSBERG Annual
    [Show full text]
  • Shipshaped Kongsberg Industry and Innovations in Deepwater
    Shipshaped Kongsberg industry and innovations in deepwater technology, 1975-2007 by Stein Bjørnstad A dissertation submitted to BI Norwegian School of Management for the degree of PhD Series of Dissertations 7/2009 BI Norwegian School of Management Department of Innovation and Economic Organisation Stein Bjørnstad Shipshaped: Kongsberg industry and innovations in deepwater technology, 1975-2007 © Stein Bjørnstad 2009 Series of Dissertations 7/2009 ISBN: 978 82 7042 951 6 ISSN: 1502-2099 BI Norwegian School of Management N-0442 Oslo Phone: +47 4641 0000 www.bi.no Printing: Nordberg The dissertation may be ordered from our website www.bi.no (Research – Research Publications) 2 Abstract Shipshaped is a thesis on the emergence of an innovative offshore supplier industry. Multiple influences combined to the success of various techniques to extract oil and gas without fixed platforms; this thesis put particular emphasis on the relaxation of hierarchies in fostering innovation. Such disintegration occurred within firms in which empowered employees took on larger responsibilities and between firms. The pace of innovation accelerated where people were allowed to sort out things themselves rather than conforming to directions from above. Initially these conditions were more evident in offshore support services serviced by shipping companies, but practices pioneered in shipping eventually spread to the proper offshore oil industry. Two business units at Kongsberg, Albatross and Kongsberg Offshore, serves as a vantage point for this thesis. Kongsberg Offshore pioneered production systems that help oil companies control the flow of petroleum from a valve tree on the seabed rather than on fixed platforms. Albatross pioneered dynamic positioning, a technique that helps shipping companies maintain their position using propellers rather than mooring lines and anchors.
    [Show full text]
  • KOG †Rsrapport 99 Orig
    Kongsberg Gruppen – Annual Report 1999 Kongsberg Gruppen A network of ideas USA Kongsberg Gruppen ASA P.O. Box 1000 Denmark N-3601 KONGSBERG Annual Report 1999 Telephone: + 47 32 28 82 00 Fax: +47 32 28 82 01 www.kongsberg.com [email protected] Singapore South Korea Australia Greece Contents: Our international presence . 3 This is Kongsberg Gruppen . 5 Key Figures . 6 Highlights . 8 Directors’ Report . 10 Consolidated Accounts for Kongsberg Gruppen (The Group) . 17 Parent Company Accounts for Kongsberg Gruppen ASA . 30 Auditor’s Report . 32 Shares and shareholder relations . 34 Analytical Data . 36 Kongsberg Maritime . 40 Kongsberg Defence & Aerospace . 48 Business Development . 54 Property . 56 Addresses . 57 Financial calendar . 61 On the cover With their diversity, knowledge and enthusiasm, 3 400 employees in 20 countries work to generate added value for Kongsberg Gruppen, its shareholders and society-at-large. From top left: Lona Chang (46) – Finance Manager, Kongsberg Simrad Pte. Ltd. – Singapore Michael Santos Boyd (39) – Customer Support, Simrad Inc. – Seattle, Washington, USA Hwang-Yong Park (40) – Service Manager, Kongsberg Norcontrol Ltd. – Pusan, South Korea Maiken Thomassen (23) – Export Assistant, Simrad Shipmate AS - Støvring, Denmark Helge Morsund (47) – Program Manager Australia, Kongsberg Defence & Aerospace – Kongsberg, Norway Eirik Lie (33) – Project Manager Air Defence, Kongsberg Defence & Aerospace – Kongsberg, Norway 1 KOG Årsrapport 99 orig Eng 12.04.2000 09:49 Side 3 Our international presence Jan Erik Korssjøen We are proud to present the annual As a knowledge based corporation, it is CEO report for 1999. The year was charac- only natural that we pay close attention terised by strong performance in most to the development of high-technology of the Corporation's business areas, as based products.
    [Show full text]
  • Kongsberg Gruppen – Powerpoint
    Satellite Technology in Arctic governance Gunnar Pedersen and Richard Hall Kongsberg Satellite Services WORLD CLASS – through people, technology and dedication KSAT owner structure Kongsberg 50 % 50 % Norwegian Defense and Aerospace (KDA) Space Center (NCS) Kongsberg Satellite Services Tromsø Station SvalSat (Svalbard) Grimstad Station TrollSat (Antarctica) Business Segments Ground Station Services Earth Observation / 2 / 22-Oct-09 What does KSAT do? • Provide communications link for satellite owners • Uplink and downlink • Satellite commands go up • Data comes down • Exploit data received in real-time • Deliver the images anywhere in the world in real-time / 3 / 22-Oct-09 KSAT in the polar regions Trollsat 72° South Svalsat 78° North Tromsø 69° North / 4 / 22-Oct-09 Arctic Shipping and related Challenges • Safety, security and environment • Ice and icing • Metocean • Navigation in ice/ice infested waters • Knowledge about ships, their identity and position • Illegal pollution • Information access • Arctic area – large oceans - very few observation sites • Darkness and weather limit operations and information access • Communication and information distribution Satellite based monitoring - SAR ¾ Large area surveillance ¾ Independent of weather and light conditions ¾ Frequent overpassess in the high North (and South) ¾ Marine application: • Oil on sea • Vessels • Ice location • Ice condition Radarsat-2 • Wind • Waves / 6 / 22-Oct-09 Oil Service chain – main elements Sea state AIS for source identification Advanced processing Oil rigs, equipment installations, wrecks….. Know how , trained and experienced operators Auxiliary data / 7 / 22-Oct-09 Key users Coastal state authorities responsible for maritime surveillance Oil companies and oil industry associations / 8 / 22-Oct-09 Combining satellite images with AIS, (Automatic Identificaton System) -a powerful combination Oil spill outside the Norwegian coast, ships Combined with AIS, tracked back, one of the ship in the area.
    [Show full text]
  • Defense News Top 100
    Defense News Top 100 % of Last 2005 2005 2004 Revenue Rank Company Leadership Country Year’s Defense Total Defense from Rank Revenue* Revenue* Revenue** Defense Robert Stevens, President and 1 Lockheed Martin U.S. 1 36,465.0 37,213.0 98.0 34,050.0 CEO James McNerney, Chairman, 2 Boeing U.S. 2 30,791.0 54,845.0 56.1 30,464.0 President and CEO Ronald Sugar, Chairman and 3 Northrop Grumman U.S. 3 23,332.0 30,700.0 76.0 22,126.0 CEO 4 BAE Systems Mike Turner, CEO U.K. 4 20,935.2 26,500.2 79.0 20,344.0 William Swanson, Chairman 5 Raytheon U.S. 5 18,200.0 21,900.0 83.1 18,771.0 and CEO Nicholas Chabraja, Chairman 6 General Dynamics U.S. 6 16,570.0 21,244.0 78.0 15,000.0 and CEO Thomas Enders and Noël 7 EADS Netherlands 7 9,120.3 40,508.2 22.5 10,505.9 Forgeard, co-CEOs Michael Strianese, interim 8 L-3 Communications U.S. 13 8,549.2 9,444.7 90.5 6,133.8 CEO Denis Ranque, Chairman and 9 Thales France 9 8,523.3 12,176.1 70.0 8,868.6 CEO David Lesar, Chairman, 10 Halliburton 1 U.S. 10 7,552.0 20,994.0 36.0 8,000.0 President and CEO Pier Francesco Guarguaglini, 11 Finmeccanica Italy 11 7,125.7 12,728.1 56.0 7,670.6 Chairman and CEO George David, Chairman and 12 United Techologies U.S.
    [Show full text]
  • Annual Report and Sustainability Report 2016 01 02 03 04 INTRODUCTION DIRECTORS’ REPORT & FINANCIAL STATEMENTS CORPORATE GOVERNANCE SUSTAINABILITY
    01 02 03 04 INTRODUCTION DIRECTORS’ REPORT & FINANCIAL STATEMENTS CORPORATE GOVERNANCE SUSTAINABILITY ANNUAL REPORT & SUSTAINABILITY REPORT 2016 1 KONGSBERG • Annual Report and Sustainability Report 2016 01 02 03 04 INTRODUCTION DIRECTORS’ REPORT & FINANCIAL STATEMENTS CORPORATE GOVERNANCE SUSTAINABILITY • KONGSBERG • Vision, ambitions and values • Key figures • CEO Geir Håøy CONTENTS 01 02 INTRODUCTION 3 DIRECTORS’ REPORT & FINANCIAL STATEMENTS 14 KONGSBERG 3 Directors’ Report 2016 15 Vision, ambitions and values 5 Financial Statements and Notes 30 Key Figures 7 Statement from the Board 95 President and CEO Geir Håøy 10 Auditor’s Report 96 03 04 CORPORATE GOVERNANCE 100 SUSTAINABILITY 114 The Board’s report About the Sustainability Report 115 on Corporate Governance 101 Sustainable innovation 131 Policy 102 What have we achieved? 137 Articles of association 103 Climate and the environment 148 The Board’s report on the Norwegian Goals and reporting 152 Code of Practice for Corporate Governance 104 GRI 161 Auditor’s Report 166 This is an interactive PDF with bookmarks Navigate in Contents and hyperlinked text (hyperlinks are underlined by a dashed line). You can browse one page back or forward by using the arrows in the top left-hand corner. Use the menu button on the far left to go back to the table of contents. The chapters are also bookmarked, and you can find short cuts to these in the left-hand menu of the PDF Reader. 2 KONGSBERG • Annual Report and Sustainability Report 2016 01 02 03 04 INTRODUCTION DIRECTORS’ REPORT & FINANCIAL STATEMENTS CORPORATE GOVERNANCE SUSTAINABILITY • KONGSBERG • Vision, ambitions and values • Key figures • CEO Geir Håøy KONGSBERG Kongsberg Gruppen (KONGSBERG) is an international technology group that delivers advanced and reliable solutions improving safety, security and performance in complex operations and under extreme conditions.
    [Show full text]
  • Appendix 9A. the 100 Largest Arms-Producing Companies, 2003
    Appendix 9A. The 100 largest arms-producing companies, 2003 EAMON SURRY and THE SIPRI ARMS INDUSTRY NETWORK* I. Selection criteria and sources of data Table 9A lists the world’s 100 largest arms-producing companies (excluding China), ranked by their arms sales in 2003. The table contains information on the companies’ arms sales in 2002 and 2003, and their total sales, profit and employment in 2003. It includes public and private companies, but excludes manufacturing or maintenance units of the armed services. Only companies with manufacturing activities in the field of military goods and services are listed, not holding or investment companies. Chi- nese companies are excluded because of the lack of data. Companies from other countries might also have been included at the lower end of the list had sufficient data been available. Publicly available information on arms sales and other financial and employment data of the arms industry worldwide are limited. The sources of data for table 9A.1 include: company annual reports and Internet sites; a SIPRI questionnaire; and cor- poration news published in the business sections of newspapers, military journals and by Internet news services specializing in military matters. Press releases, marketing reports, government publications of prime contract awards and country surveys were also consulted. In the absence of data from these sources, estimates have been made by SIPRI. The scope of the data and the geographical coverage are largely determined by the availability of information. All data are continuously revised and updated and may change between different editions of the SIPRI Yearbook. The source for the dollar exchange rates is the International Monetary Fund (IMF), as provided in its International Financial Statistics.
    [Show full text]
  • Financial Statements and Notes Statement from the Board Auditor’S Report
    01 Year 2020 02 About 03 Sustainability 04 Corporate 05 Directors’ Report and KONGSBERG Governance Financial Statements Directors’ Report 2020 Financial Statements and Notes Statement from the Board Auditor’s Report Financial Statements and Notes Page Page KONGSBERG (GROUP) 135 Financial Statements and Notes 187 24 Cash and cash equivalents 136 Consolidated statement of income 188 25 Share capital 137 Consolidated statement of comprehensive income 189 26 Provisions 138 Consolidated statement of financial position 190 27 Other current liabilities as of 31 December 191 28 Assets pledged as collateral and guarantees 139 Consolidated statement of changes in equity 191 29 Statement on remuneration of the Group CEO 140 Consolidated statement of cash flow and Executive Management 141 Notes 194 30 Remuneration for Executive Management 141 1 General information and the Board 141 2 Basis for the preparation of the consolidated 197 31 Auditor’s fees financial statements 197 32 List of Group companies 142 3 Summary of significant accounting policies 199 33 Transactions with related parties 150 4 Fair value 200 34 Definitions and abbreviations 151 5 Management of capital and financial risks 201 35 Events after balance date 153 6 Discontinued operations 155 7 Acquisitions 158 8 Operating segments 161 9 Revenue recognition customer contracts KONGSBERG GRUPPEN ASA 165 10 Shares in joint arrangements and associated companies 202 Statement of income 166 11 Inventories 203 Statement of financial position as of 31 December 166 12 Personnel expenses 204 Statement
    [Show full text]