Kongsberg plans Oslo listing for demerged maritime company

Kongsberg Group has tripled its operating revenues since 2016, and at the end of September 2025, had 15,000 employees and a historically high order backlog.

The group said the number of employees, revenue and financial results are now relatively evenly distributed between the two companies, and both have reached a size and financial robustness that enables them to operate independently.

“The units operate in different international markets that are undergoing change,” said Kongsberg Group president and chief executive Geir Håøy. “This places different demands on business models. Kongsberg Maritime holds a leading technology position and offers products and integrated solutions across a wide range of segments – from offshore vessels to the merchant fleet and naval segment,” he said.

“The consolidated technology and defence company Kongsberg addresses critical needs in defence, security and surveillance, delivering solutions for both civilian and defence applications.”

While the synergies between the two businesses have been reduced over time, after the demerger, the companies will continue to collaborate where it provides commercial advantages, for example in the installation of underwater sensors on autonomous vessels.

Upon listing, the shareholder structure in MAR will mirror that of the current Kongsberg Group, with each shareholder receiving one MAR share for each Kongsberg share held.

The Norwegian state, through the Ministry of Trade, Industry and Fisheries, has expressed support for the Kongsberg board’s proposal and the state’s ownership will not change as a result of the demerger.

The new maritime-focused business will be led by Kongsberg Maritime president Lisa Edvardsen Haugan, while the current Kongsberg chief financial officer, Mette Toft Bjørgen, will take this position in the new maritime business.

Kongsberg Defence & Aerospace president Eirik Lie will become president and chief executive of Kongsberg, while a recruitment process has been initiated for the new chief financial officer.

These changes will be effective from the completion of the demerger and a new MAR board of directors will be elected and effective from the time of listing.

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