Kongsberg to Spin Off Maritime Unit, Combine Defense Businesses in Strategic Split

Kongsberg Gruppen has proposed spinning off its Kongsberg Maritime business in a separate stock market listing and consolidating its Kongsberg Defence & Aerospace and Kongsberg Discovery units into a single technology and defense company.

The group said sustainability and security trends have driven strong growth over the past decade and are expected to continue shaping demand, making focused specialist businesses better positioned for global opportunities.

The Norwegian state, which owns 50% of Kongsberg, has expressed support for the transaction, according to the company.

Kongsberg Maritime is proposed to be separated from Kongsberg Gruppen and become an independent company, with plans to list the business in the first half of 2026.

Shares in the new company will be distributed to existing Kongsberg shareholders on a one-for-one basis, with no new capital raised.

Once listed, Kongsberg Martiime President Lisa Edvardsen Haugan will lead the new company.

“We are heading towards an exciting new future. In Kongsberg Maritime, we are ready to take the next step and stand on our own. Globally, the maritime industry is set to double by 2035, and we are uniquely positioned to take part in the upcoming value creation. We have the people and the knowledge needed to solve the technological challenges the maritime sector will face in the coming years,” said Edvardsen Haugan.

Kongsberg said the maritime arm will build on its global market position across commercial and naval segments and pursue opportunities in dual-use solutions. The consolidated technology- and defense-focused business will continue to offer systems for defense, security and surveillance applications.

“This will further strengthen competitiveness in our efforts to create value in a world where security and sustainability are expected to dominate in the coming decades. Individually, the companies will gain better navigation opportunities and execution capabilities within their respective markets. Both companies will continue to have significant national strategic importance with headquarters in Norway,” added Eivind Reiten, Chair of the Board of Kongsberg Gruppen.

“The units operate in different international markets that are undergoing change. 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. The consolidated technology and defense company KONGSBERG addresses critical needs in defence, security, and surveillance, delivering solutions for both civilian and defence applications,” noted Geir Håøy, President and CEO of Kongsberg Gruppen.

Kongsberg has tripled revenue since 2016 and has 15,000 employees. The demerger plan is scheduled to be published in December 2025, with shareholder approval expected in January and listing targeted for April 2026.