CEO's perspective: Ambitious goals for a safer and more sustainable future

Across the globe, nearly half of the world’s population cast their votes in national elections in 2024, shaping new political landscapes. We are in the third year of an ongoing war in Ukraine, we have seen escalating tensions between world powers, and experienced the far-reaching consequences of conflicts in the Middle East. In addition to the geopolitical complexity, the impact of climate change has also become even more evident. 2024 has been recorded as the warmest year in modern history, marked by floods, storms, and droughts that have caused loss of life, devastation, and economic consequences in several parts of the world.

At KONGSBERG, we understand the importance of addressing the two major challenges the world faces: security and sustainability. Our technological solutions are uniquely positioned to meet the needs for enhanced defence capabilities and the urgent need for sustainable solutions. In 2024, our advanced defence systems have contributed to strengthening national security in several countries. Our innovative maritime technology continued to play a crucial role in the transition to zero emissions in the ocean and energy industries. This reflects a simple truth: what we do matters.

"Our mission has always been the same - to help create a better future by designing innovative systems and solutions to meet global challenges."

2024 has been another record year for KONGSBERG. We have brought new talents on board and increased the number of employees to over 14,600. The mix of solid experience with new perspectives continues to strengthen our ability to innovate 
and deliver solutions that meet the world's needs. Our success is built on decades of dedication, continuous innovation, and a strong commitment to quality. Our mission has always been the same - to help create a better future by designing innovative systems and solutions to meet global challenges.

Looking ahead, we see increased demand across all our markets. The long-term need for stronger national defence capabilities and sustainable solutions presents us with significant opportunities in the time to come.

At the end of 2024, our order backlog has reached an all-time high of NOK 128 billion. This is a testament to the trust we have in our markets. At the same time, we view the commitment we have made to our customers with great humility and respect. Whether it concerns increased security, better energy efficiency, reduced greenhouse gas emissions, monitoring of operations, or the environment. Our order backlog is proof that we are helping to solve critical challenges.

The sustainability reporting for 2024 marks the transition from voluntary reporting following the GRI standard to the more comprehensive and mandatory ESRS standard. This transition contributes to improve reporting quality and increase 
transparency on sustainability. With standardised reporting, sustainability data becomes more precise and comparable across companies.

KONGSBERG is uniquely positioned to address the important trends that continue to shape the future. Facing upcoming opportunities and challenges, we remain steadfast in our goal: to protect people and the planet.

I extend my sincere gratitude to all my colleagues for their dedication and contributions. I also wish to thank customers, suppliers, owners, and other key partners for their support in making 2024 a remarkable year for KONGSBERG. Together, we are forging a future that is both secure and more sustainable.