VARD GROUP AS
Home - VARD
Together with our customers and partners, we utilize our innovation power to meet the world’s changing needs with modern shipbuilding facilities, new vessels, products and services.
Organization
- CEO
- Chairman of the board
- AM
- Years since formation
- 27 years
- since Sep 8, 1998
- Type
- Limited company
- VAT registered
- Yes
- Number of employees
- 829
Ownership
- Number of shares and share classes
- 267,956
- 1 share class
- Total number of shareholders
- 1
- person
- Belongs to group of
Financials
- Total operating income 2024
- 10,237,272,000
- NOK
- Annual total result 2024
- 364,753,000
- NOK
- Total equity 2024
- 387,593,000
- NOK
Last update: Sep 13, 2025
Management
Management / administration
| Name | Role | Shares |
|---|---|---|
| Managing Director/CEO | - |
Board
| Name | Role | Shares |
|---|---|---|
AM | Chairman | - |
LM 1965 | Board Member | - |
JI | Board Member | - |
KF | Alternate Member | - |
TS 1965 | Board Member | - |
| Board Member | - | |
CC 1977 | Board Member | - |
EO 1981 | Board Member | - |
LP 1967 | Board Member | - |
AV | Board Member | - |
RP | Alternate Member | - |
PB 1966 | Alternate Member | - |
| Alternate Member | - | |
MS 1989 | Alternate Member | - |
AH | Alternate Member | - |
MH | Alternate Member | - |
KP | Alternate Member | - |
FK | Alternate Member | - |
Others
| Name | Role | Shares |
|---|---|---|
| Auditor | - |
Last update: Sep 13, 2025
Ownership
Company shareholders
| Name | Share class | Total number of shares | Share |
|---|---|---|---|
| Ordinary shares | 267,956 | 100 % |
Shares owned by the VARD GROUP AS
| Name | Share class | Total number of shares | Share |
|---|---|---|---|
| Ordinary shares | 100 | 100 % | |
| Ordinary shares | 1,500 | 100 % | |
| Ordinary shares | 1,000 | 100 % | |
| Ordinary shares | 500 | 100 % | |
| Ordinary shares | 4,000 | 100 % | |
| Ordinary shares | 46,639,721 | 100 % | |
| Ordinary shares | 386 | 38.99 % | |
| Ordinary shares | 91,992 | 26.66 % | |
| Ordinary shares | 1 | 5.26 % | |
| Ordinary shares | 200 | 2.4 % | |
| Ordinary shares | 200 | 2.08 % | |
| Ordinary shares | 200 | 1.42 % | |
| Ordinary shares | 425 | 0.29 % | |
| Ordinary shares | 212 | 0.29 % | |
| NO0010003429 | 2,500 | < 0.01 % |
Last update: Jun 2, 2025
Group structure
- Total operating income 2024: NOK 10,237,272,000Operating profit 2024: NOK -358,327,000Employees: 829
Financials
in NOK
Summary
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total operating income | 10,237,272,000 | 5,727,010,334 | 6,002,249,000 | 6,194,241,000 |
Annual Total Result | 364,753,000 | -87,932,656 | -426,318,000 | -766,629,000 |
Total assets | 16,818,301,000 | 15,010,417,044 | 9,390,141,000 | 8,224,752,000 |
Total liabilities | 16,430,707,000 | 14,987,576,522 | 9,279,368,000 | 7,687,660,000 |
Total equity | 387,593,000 | 22,840,522 | 110,773,000 | 537,092,000 |
P&L
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total operating income | 10,237,272,000 | 5,727,010,334 | 6,002,249,000 | 6,194,241,000 |
Total operating costs | 10,595,598,000 | 5,939,691,851 | 6,395,441,000 | 6,852,663,000 |
Operating result | -358,327,000 | -212,681,517 | -393,192,000 | -658,422,000 |
Financial income/costs | 565,458,000 | 124,748,861 | -30,505,000 | -107,652,000 |
Profit before tax | 207,132,000 | -87,932,656 | -423,697,000 | -766,074,000 |
Total tax & extraordinary income/cost | -157,621,000 | 0 | 2,621,000 | 555,000 |
Annual Total Result | 364,753,000 | -87,932,656 | -426,318,000 | -766,629,000 |
Balance overview
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
Total fixed assets | 3,323,751,000 | 3,898,882,352 | 2,427,341,000 | 2,631,889,000 |
Total current assets | 13,494,550,000 | 11,111,534,691 | 6,962,800,000 | 5,592,863,000 |
Total assets | 16,818,301,000 | 15,010,417,044 | 9,390,141,000 | 8,224,752,000 |
Short term debt | 16,380,707,000 | 14,937,576,522 | 9,229,368,000 | 7,637,660,000 |
Long term debt | 50,000,000 | 50,000,000 | 50,000,000 | 50,000,000 |
Total liabilities | 16,430,707,000 | 14,987,576,522 | 9,279,368,000 | 7,687,660,000 |
Contributed capital | 8,719,752,000 | 8,719,751,897 | 8,719,752,000 | 8,719,752,000 |
Retained earnings | -8,332,159,000 | -8,696,911,375 | -8,608,979,000 | -8,182,660,000 |
Total equity | 387,593,000 | 22,840,522 | 110,773,000 | 537,092,000 |
Total equity and liabilities | 16,818,301,000 | 15,010,417,044 | 9,390,141,000 | 8,224,752,000 |
Classification
Type of organization
Limited company
Classification of institutional sector
INNL
Domestic sectors
A_IKKE-FIN
Non-financial corporations
2100
Private non-financial incorporated enterprises