Kongsberg Maritime AS

Kongsberg Gruppen (KONGSBERG) is an international technology corporation that delivers advanced and reliable solutions that improve safety, security and performance in complex operations and during extreme conditions. KONGSBERG works with demanding customers in the global defence, maritime, oil and gas and aerospace industries. We deliver systems for dynamic positioning and navigation, marine automation, cargo management and level sensors, maritime training simulators and position reference systems. Important markets include countries with large offshore and shipyard industries.

Company details

Kirkegårdsveien 45, P.O. Box 483 , Kongsberg , Norway 3601 Norway

Locations Served

Business Type:
Technology
Industry Type:
Oil, Gas & Refineries
Market Focus:
Globally (various continents)
Year Founded:
1814

Kongsberg Gruppen (KONGSBERG) is an international, knowledge-based group that supplies high-technology systems and solutions to customers in the oil and gas industry, the merchant marine, and the defence and aerospace industries.

The Group consists of the following four business areas:
 
Kongsberg Maritime

Kongsberg Maritime delivers products and systems for positioning, navigation and automation to merchant vessels and offshore installations, as well as products and systems for seabed surveying and monitoring, and for fishing vessels and fisheries research. The business area is a market leader in these areas.
 
Kongsberg Oil & Gas Technologies

Kongsberg Oil & Gas Technologies provides technology, products and services for surveillance, integration, analysis, simulation, quality assurance, and governance of drilling and production operations.
 
Kongsberg Defence Systems

Kongsberg Defence Systems is Norway's premier supplier of defence and aerospace-related systems. The portfolio comprises products and systems for command and control, weapons guidance and surveillance, communications solutions and missiles. Kongsberg Defence Systems also makes advanced composites and engineering products for the aircraft and helicopter market.
 
Kongsberg Protech Systems

Kongsberg Protech Systems delivers weapon control systems with the highly successful PROTECTOR Remote Weapon Station.

KONGSBERG aspires to achieve sustainable development, i.e. to strike a good balance between financial results and corporate social and environmental responsibility. This is because corporate social responsibility and the environment are to be integral parts of the Group's daily routines.

The UN defines sustainable development as development that meets the needs of the present without compromising the ability of future generations to meet their own needs. This is a demanding task in a world that faces formidable environmental and poverty-related challenges.

At KONGSBERG, corporate social responsibility means taking into account the communities in which the Group operates and which are affected by our activities. It also involves relations with our employees, society-at-large and external stakeholders.

WORLD CLASS - through people, technology and dedication

Objectives

KONGSBERG is to be an internationally-oriented, technology enterprise headquartered in Norway. Shareholders' assets will be protected and enhanced by using the Group's high level of knowledge to develop attractive solutions for the market, and to make constant operational improvements:

  • Improvement measures will be implemented continuously to promote profitability.
  • Growth and profitability will be generated through organic growth, acquisitions and structural initiatives.
  • The Group will be organised in a manner designed to exploit coherence and possible synergies.
  • Operations should be handled in an ethically, environmentally and socially responsible manner, maintaining a clear profile and a good reputation.

Strategy

Important initiatives for achieving the objectives include:

Markets

KONGSBERG's markets are characterised by stringent requirements for performance, quality and operational reliability. 80 per cent of the Group's operating revenues were earned outside Norway in 2009. KONGSBERG strives to develop its marketing system to help meet customers' needs in an efficient manner. Customer proximity and cooperation on the development of optimal solutions are crucial. Strategic alliance-building is a prerequisite for success in several of KONGSBERG's product areas.

Concentration on the business areas

The business areas are continuously reviewed to identify activities which do not occupy a natural place there, or which might better be developed under the auspices of other industrial constellations. The Group considers these areas thoroughly in an effort to conserve assets insofar as possible.

Acquisitions

Acquisitions are a key part of the corporate growth strategy in core areas. The goal of acquisitions is to exploit common technologies and achieve market synergies. Other motives include a desire to supplement the range of products, and to gain access to new markets or specialised technology. The desire for constant improvement in the Group's strategic market position plays a key role in its acquisition strategy.

Expertise

Knowledge and expertise are KONGSBERG's most important competitive parameters. Opportunities for human resources development are crucial to positive performance trends, making them a high priority. It is important to offer attractive, challenging jobs. Leadership development programmes are conducted systematically.

Corporate Social Responsibility and Ethics

KONGSBERG has a corporate Code of Ethics, an environmental policy and a policy for corporate social responsibility. These are basic elements in the efforts to achieve a corporate culture that supports profitable, sustainable development.

Technology

Product development costs are equivalent to approx. 10 per cent of KONGSBERG's operating revenues each year. A high level of activity in this field is a prerequisite for profitable organic growth. Product development may be funded by customers and/or equity-financed. The needs of the market invariably determine our direction, ambitions and solutions for product development. KONGSBERG's products are largely based on the following core competencies: software development services, engineering cybernetics, systems integration and signal processing.

Financial strategy

The Group's management attaches importance to having the financial wherewithal needed to ensure its freedom of action. Growth is to be funded mainly by earnings and the freeing up of previously tied-up capital. External funding is always based on a long-term perspective that is commensurate with the Group's business strategy. The Group's financial policy aims primarily at increasing predictability and reducing risk.

The KONGSBERG values are normative for how we behave and work, and characterise our cooperation within and outside the company.

Determined

We are known for our drive and persistence. We always strive to meet our customers' expectations. We set ambitious goals for ourselves and we are driven towards them with a clear and constant focus.

What we start, we finish. We do not give in.

Innovative

Always performing better is a vital part of who we are. We constantly innovate and implement improvements in all parts of our business - from our products, through our processes, to our customers' experiences.

We relentlessly pursue improvements, new ideas and new solutions.

Collaborative

Collaboration is fundamental to our business. We exchange ideas among ourselves, with our suppliers and partners, and we cooperate closely with our customers. We work as teams, we share knowledge and we value team success - to the benefit of our customers and our own competitiveness.

We collaborate as individuals and as an organization.

Reliable

Our customers and partners can trust KONGSBERG to deliver, always. Dealing with KONGSBERG means dealing with reliable
people, a reliable corporation and reliable products. KONGSBERG is a responsible organization characterized by integrity and concern for health, safety and the environment.

We are reliable people. We are responsible citizens.

THE BOARD’S REPORT ON CORPORATE GOVERANCE
KONGSBERG’s objective is to safeguard and enhance stakeholder value through profitable and growth-oriented industrial development in a long-term and international perspective.

Good corporate governance and corporate management shall reduce business-related risk, while the company’s resources shall be utilised in an effective and sustainable manner. The Group shall achieve its goals through further development of first-class competency centres, deliveries of market-leading systems, and products and services in its international market segments, as well as by operating in an ethical, sustainable and socially responsible manner. KONGSBERG is listed on the Oslo Stock Exchange and is subject to Norwegian securities legislation and stock exchange regulations.

How KONGSBERG understands the concept 

Corporate governance deals with issues and principles associated with the distribution of roles between the governing bodies in a company, and the responsibility and authority assigned to each body. Good corporate governance is distinguished by responsible interaction between owners, the Board and management, seen in a long-term productive
and sustainable perspective. It calls for effective cooperation, a defined division of responsibilities and roles between the shareholders, the Board and management, respect for the Group’s other stakeholders, and open, reliable communication  with the world around us. The Group’s value platform and ethical guidelines are a fundamental premise for
KONGSBERG’s corporate governance. 

Treatment of the topic in 2015 

The topic of corporate governance is subject to annual evaluations and discussions by the corporate Board. Amongst
other things, the Group’s management documents are reviewed and revised annually.

Business Development focuses on the long-term, strategic development of KONGSBERG. Its staff works closely with the business areas to shape the Group's future. The business areas focus on developing their own core activities. Business Development is also responsible for areas outside our current spheres of activity. In addition, Business Development advises the Group on issues involving the acquisition and disposal of business activities.

New opportunities

KONGSBERG constantly seeks new opportunities both inside and outside the Group. We are involved in developing promising ideas that will allow us to benefit from the technological and marketing expertise that exists in KONGSBERG.

KONGSBERG employees' high level of expertise in the broad range of high-technology fields means that ideas regularly turn up for projects that fall outside the Group's strategic target areas. Such ideas can be parlayed into new business activities outside the Group, preferably in collaboration with other industrial or financial players.

Have you got a good idea?

Contact us if you have ideas or plans for potential products or services. Ideas will be reviewed by us and our experts in the appropriate fields within the Group on the basis of their technological and commercial merits. When projects are outside our traditional areas of expertise, we bring our partners Kongsberg Innovasjon into the evaluations.

Kongsberg Innovasjon's goal is to create new businesses on the basis of the expertise that exists in the industrial cluster in the Kongsberg region.