KEY DEALS

Encouraging first year results

11 years ago

2014 was the first full financial year of the DNV GL Group AS following the merger between the marine classification societies Det Norske Veritas and Germanischer Lloyd. “While both managing the ambitious merger and maintaining a full focus on providing premium service to our customers, we also increased our revenues by 10%, achieving an operating revenue of NOK 21,623 million,” said Henrik O. Madsen, DNV GL Group President & CEO.

The ambitious integration of two global companies, DNV and GL, was a complex achievement, successfully carried out by the 16,000 employees. DNV GL has during this merger manifested its leading positions in the global Maritime, Oil & Gas, Energy, Business Assurance and Software Industries. Organisationally, the company now operates from a common platform out of 380 locations and has operations in over 100 countries, offering a broader range of services.

Thomas Vogth-Eriksen, DNV GL Group Chief Financial Officer concludes that DNV GL delivered solid financial results in 2014: “We achieved operating revenues of NOK 21,623 million in 2014, an increase of NOK 1,919 million from 2013 (a pro-forma view in which the GL Group is fully included from 1 January 2013). Of the 10% revenue growth, 4% is organic growth in DNV GL. Less than 1% is non-organic growth, including acquisitions of Danish Standard Certification and Marine Cybernetics, and 5% is the result of currency effects. The currency effects accelerated in the last quarter of the year due to the NOK weakening against most major currencies”, he explained.

By Jake Frith