Kongsberg to spin off Kongsberg Maritime

Lisa Edvardsen Haugan, president of Kongsberg Maritime, will lead the new stand-alone Kongsberg maritime business following the demerger.

The board of Norway’s Kongsberg Gruppen ASA today proposed to demerge and list Kongsberg Maritime on the Euronext Oslo Stock Exchange, while consolidating Kongsberg Defence & Aerospace and Kongsberg Discovery into a single entity.

With security and sustainability high on the international agenda., the board has assessed that focused and specialized businesses will be best suited to take advantage of the opportunities this presents.

“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,” says Eivind Reiten, chair of the Kongsberg Gruppen board. “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.”

“The units operate in different international markets that are undergoing change. This places different demands on business models,” said Geir Håøy, president and CEO of Kongsberg Gruppen. “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 defense applications,”

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Stock exchange listing

The planned spin-off of Kongsberg Maritime will be structured as a demerger combined with a separate stock exchange listing. Shares in the new parent company for Kongsberg Maritime (“MAR”) will be issued directly to Kongsberg’s shareholders at the time of the demerger, without raising new capital or selling existing shares. Upon listing, the shareholder structure in MAR will mirror that of Kongsberg, with each shareholder receiving one MAR share for each Kongsberg share held. The company’s largest shareholder with a 50% stake, the Norwegian state, through the Ministry of Trade, Industry and Fisheries, has expressed support for the board’s proposal. The state’s ownership will not change as a result of the demerger. The demerger is expected to be completed, and trading in MAR shares to commence, durings second quarter 2026.

The new maritime business will be led by Lisa Edvardsen Haugan, president of Kongsberg Maritime. Mette Toft Bjørgen, currently CFO of Kongsberg Gruppen will take the position of CFO in the new maritime business. Eirik Lie, president of Kongsberg Defence & Aerospace, will become the new president and CEO of Kongsberg Gruppen and a recruitment process is initiated for the new CFO. The changes will be effective from the completion of the demerger. A new board of directors for MAR will be elected and effective from the time of listing.

• Download Kongsberg’s presentation on the proposal HERE