Strategy and ambitions

As a Group, we are very well positioned, operating in markets that are being strongly driven by the mega-trends of sustainability and security and where the delivery of innovative and improved technological solutions will be important for success. We see huge potential to grow and expand within our core markets.

Geo-political instability and conflict, an escalating environmental and resource emergency, increased societal fragility and economic uncertainty, and the adoption of new technologies are all impacting the way we do business and how we prioritise. Against this backdrop, we will constantly review and adapt our strategy, structure and actions. We will seek to meet our customers’ needs, manage our own risks, and seek the most valuable opportunities for KONGSBERG.

In all that we do, we have a clear ambition to deliver consistent and lasting value for our shareholders and for all our stakeholders. Over the long-term, we believe that the greatest shareholder value will be created by considering and acting on the opportunities and risks, viewed from a social development, environmental and economic perspective, and by engaging with all our stakeholders in an open and transparent manner in line with our purpose “to protect people and planet by innovating technology today, for a better tomorrow”.

We will achieve this by realising our ambitions within five focus areas:

Technology leadership:

We have a core foundation of knowledge, systems, partnerships and suppliers, built up over many years. Together with our people and culture, this forms the backbone of how and why wecan deliver competitive solutions to our customers. At the heart of our strategy, we want to be a leader for developing, applying, delivering and supporting technology to our customers. We understand that sustainability, security, safety and efficiency are all essential factors in product and technology development, and we will keep developing our deep domain knowledge in new and existing areas and keep applying state-of-the-art technologies to deliver the most advanced, sustainable and competitive solutions to our customers.

Customer-first mindset:

We are committed to addressing our customers’ most complex problems and we aim to be their preferred partner in finding the smartest and most sustainable solutions. Our leading positions are a result of the deep domain competence we have built up over many years and of the long-standing relationships we have with our customers, built on trust and a constant commitment to putting the customer first. We shall be present where it is relevant for our customers and, together with our strategic partners, we shall deliver the sought-after leading edge and integrated solutions.

Active portfolio management:

Our business areas provide vital solutions to our customers in the defence, space, energy, maritime and ocean-related sectors and we have built up leading positions in specific niches and sectors within our chosen core markets. We shall seek to reate value and have solid domain competence in each of these segments. We will continually assess the growth opportunities and competitive positions of our segments, and we will manage and adapt our portfolio in accordance with our value creation principles and our strategic focus on sustainability and security.

First and foremost, we shall pursue growth in our core markets, where we have strong market positions and attractive market fundamentals as well as selectively in new and adjacent ones and will look for opportunities where we can leverage off our deep domain knowledge and technological competencies across the Group, to create consistent and long-term value. We will prioritise organic growth, but we will also consider inorganic opportunities, where the strategic rationale is compelling. 

A thriving workplace:

At KONGSBERG, we value our people as our most important resource. We shall have a skilled, dedicated, and diverse workforce and a safe and thriving culture that encourages and facilitates for agility and collaboration and allows for our employees to perform at their best.

Sustainable change and operational excellence:

Our activities and processes are guided by core beliefs of sustainable change and operational excellence, with the aim of achieving long-term sustainable improvements that create value. We shall move the company in a sustainable direction and have a focus on green and sustainable improvements that create lasting value for our customers, suppliers and society as a whole.

Our values to be Determined, Innovative, Collaborative and Reliable will continue to underpin and guide the way we act. At all times, we shall also seek to navigate KONGSBERG in the best possible way through a rapidly shifting external landscape.