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Satisfactory 2015 results for DNV GL

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In 2015, DNV GL delivered satisfactory financial results and increased its operating revenue by 8.2%.
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Group President and CEO of DNV GL Remi Eriksen highlights: “Given the challenging market conditions, particularly in the oil & gas industry, the financial results are satisfactory. These have been achieved while capturing merger integration synergies to the benefit of our customers. Most notably, we launched the world’s most modern ship and offshore classification rules.

“Internally, we have worked to enhance our own operational efficiency and agility to meet the needs of our customers in changing and, in some instances, very challenging market situations,” Eriksen adds.

Thomas Vogth-Eriksen, DNV GL Group Chief Financial Officer, elaborates about DNV GL’s preliminary 2015 results: “We delivered improved financial results, with operating revenues of NOK 23,389 million - an increase of NOK 1,766 million from 2014 (8.2% nominal growth).  The weakening of the NOK versus major currencies ensured this growth. Currency-adjusted revenue declined by 4.8% as a result of the challenging market conditions in the oil & gas and maritime industries.

"The net profit for 2015 was NOK 1,223 million, compared to NOK 1,007 million for 2014. The net cash flow for the year was positive at NOK 227 million. The cash flow from operations was NOK 2,251 million in 2015 and reflects a strong overall performance that was also driven by positive currency effects," Vogth-Eriksen concludes.

DNV GL’s annual report will be available in early May 2016.