Havyard results
Norwegian shipbuilder Havyard Group has reported operating profits of NOK 112 million in 2016, although large write-downs have weighed down the financial results.
Operating profits (EBIT) for 2016 ended on NOK 112 million, which provides an EBIT margin of 5.6%. After write-downs of ship values in connection with ownership shares in offshore vessels, pre-tax results come in at NOK 23 million. All companies apart from Norwegian Electric Systems delivered positive results, with Havyard Ship Technology the biggest contributor with an EBIT of NOK 64 million.
Havyard started out in 2000 as a shipyard with 150 employees. From 2005 through the acquisition of Leine Maritime and the founding of Havyard Design & Solutions, and in 2007 through the establishment of Havyard Power & Systems, Havyard has developed into an international group with focus on ship technology.
Havyard developed further at sea and ashore through the formation of Norwegian Electric Systems in 2009, in 2012 by purchasing MMC and in 2011 by founding HPR.
The company says that ‘The change from ship technology to a maritime technology group is both a description of what we are today and a signal of what way we wish to take and develop the company in the future.’
By Jake Frith
