Kongsberg Maritime to strengthen marine propulsion offering through acquisition of Berg Propulsion

Kongsberg Maritime ASA (OSE: KMAR) today announced an agreement to acquire the Swedish company Berg Propulsion AB. The company is a leading designer and manufacturer of integrated propulsion and electrical systems for the maritime market.

The acquisition represents a strategic step to strengthen Kongsberg Maritime's propulsion portfolio. Berg Propulsion is a well-established player delivering complete propulsion solutions. The company has demonstrated strong growth and a profitable market position in recent years.

Financial details of the transaction are undisclosed, but the acquisition is priced at approximately the same EV/EBITDA level as the current pricing of Kongsberg Maritime ASA.

"This acquisition is central in our growth plan and strengthens our ability to serve a broader range of customers and vessel segments. Berg Propulsion complements our portfolio in a highly attractive way, and together we will deliver greater value through a wider offering, stronger lifecycle support, and shared expertise", says Lisa Edvardsen Haugan, CEO of Kongsberg Maritime.

Complementary The combination of Kongsberg Maritime and Berg Propulsion brings together two highly complementary businesses. While KM has a strong position in high-value, performance-driven segments, Berg Propulsion has built a leading presence in volume segments such as general cargo and product tankers.

"Joining forces with Kongsberg Maritime is an exciting opportunity for Berg Propulsion. Our businesses complement each other well, and together we can create new opportunities for our customers and employees. We look forward to contributing our strengths while also benefiting from Kongsberg Maritime's global scale and aftermarket capabilities", says Philip Chaabane, CEO of Berg Propulsion.

At the same time, Kongsberg Maritime will further strengthen its position as a global lifecycle partner for propulsion solutions.

Preserving agility and culture Following completion, Berg Propulsion will operate as a separate brand and standalone business unit within Kongsberg Maritime's Propulsion & Handling division. This approach ensures that Berg's strong culture, agility and customer focus are maintained.

"We look forward to benefit from Berg's culture and speed, while leveraging our global capabilities to support their continued growth and execute on the synergies", says Per Håvard Siljan Hjukse, EVP Propulsion &. Handling at Kongsberg Maritime.

A key objective of the combination is to utilize each other strengths to generate further growth.

"The transaction will unlock significant potential in the aftermarket. Berg Propulsion's large installed base and future deliveries can be supported through KM's extensive global service network. We also see cross selling opportunities, such as our Energy & Control products into Berg Propulsion's core segments, and Berg's propeller systems into naval where KM has strong positions", he continues.

Kongsberg Maritime will benefit from Berg Propulsion's strong entrepreneurial culture, lean operations and speed in execution. At the same time, Berg Propulsion will gain access to KM's global scale, systems expertise and structured capabilities.

The combined offering The combined propulsion portfolio will cover a full spectrum of technologies, including:

* Controllable pitch propellers and thrusters

* Hybrid and electrical propulsion systems

* Integrated vessel control solutions

Together, Kongsberg Maritime and Berg Propulsion will offer the most comprehensive commercial propeller ranges in the market, spanning vessel sizes from standard tonnage to advanced applications.

In 2025, Berg Propulsion generated revenues of approximately MEUR 160, reflecting strong growth the last five years, while Kongsberg Maritime, as part of the Kongsberg Group in 2025, generated revenues of MNOK 27,123, corresponding to a growth of 10 per cent compared to 2024.

The transaction is subject to certain conditions, including customary regulatory approvals.

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and the EU Market Abuse Regulation (MAR). This stock exchange announcement was published by Runi Wesetrud Huse, VP Investor Relations, Kongsberg Maritime ASA, on July 12, 2026, 23:21 CEST.

ABOUT THE COMPANIES Kongsberg Maritime is a global leader in maritime technology Kongsberg Maritime delivers advanced solutions to the merchant fleet, offshore, fishing, and naval vessels, setting new standards for safe, efficient, and sustainable operations - both for new builds and existing fleets. In close collaboration with customers and research environments, the company develop technology that solves real challenges at sea. Today, more than 30,000 vessels operate with Kongsberg Maritime's systems on board. Kongsberg Maritime has more than 8,300 employees in 35 countries.

Berg Propulsion is headquartered in Gothenburg, Sweden and employs approximately 400 people. The company is a specialist provider within propulsion solutions, trusted for delivering reliable, efficient, and customized systems, supported by worldwide lifecycle support, keeping customers moving forward with confidence. Berg Propulsion has an installed base of approximately 4,000 vessels.

More information: Access the news on Oslo Bors NewsWeb site