VARD GROUP AS

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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.

Keywords

buildinglargeshipsboard

Organization

CEO: CM
Cathrine Kristiseter Marti1975
Chairman of the board: AM
Alberto Maestrini1959
Years since formation: 27 years; since Sep 8, 1998
Type: Limited company
VAT registered: Yes
Number of employees: 826

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 2023: 5,727,010,334; NOK
Annual total result 2023: -87,932,656; NOK
Total equity 2023: 22,840,522; NOK

Last update: Dec 31, 2024

Management

Management / administration

Name	Role	Shares
CM Cathrine Kristiseter Marti 1975	Managing Director/CEO	-

Board

Name	Role	Shares
AM Alberto Maestrini 1959	Chairman	-
LM Luigi Matarazzo 1965	Board Member	-
AQ Andrea Qualizza 1967	Board Member	-
GC Giuseppe Coronella 1963	Board Member	-
AD Attilio Dapelo 1961	Board Member	-
AO Arne Otto Rogne 1962	Board Member	-
HK Henning Karleif Øye 1981	Board Member	-
JI Jørn Inge Hestnes 1968	Alternate Member	-
RS Ravinthrakumar Suntharalingam 1960	Board Member	-
KD Kristin Frøynes Devold 1971	Alternate Member	-
TS Tore Sunde 1965	Alternate Member	-

Others

Name	Role	Shares
D DELOITTE AS	Auditor	-

Last update: Jul 16, 2024

Ownership

Company shareholders

Name	Share class	Number of shares	Share
S Stx Osv Holdings Ltd	Ordinary shares	267,956	100 %

Shares owned by the VARD GROUP AS

Name	Share class	Number of shares	Share
V VARD PIPING AS	Ordinary shares	100	100 %
V VARD ENGINEERING BREVIK AS	Ordinary shares	1,500	100 %
V VARD ELECTRO AS	Ordinary shares	1,000	100 %
V VARD INTERIORS AS	Ordinary shares	500	100 %
V VARD DESIGN AS	Ordinary shares	4,000	100 %
S SEAONICS AS	Ordinary shares	46,639,721	100 %
I ISLAND OFFSHORE XII SHIP AS	Ordinary shares	189,556	46.91 %
I ISLAND DILIGENCE AS	Ordinary shares	67,000	39.38 %
A AUKRA OVERNATTING AS	Ordinary shares	386	38.99 %
B BREVIK TECHNOLOGY AS	Ordinary shares	510	34 %
S SOLSTAD SUPPLY AS	Ordinary shares	91,992	26.66 %
H HAMNSUNDSAMBANDET AS	Ordinary shares	1	5.26 %
Å ÅKP AS	Ordinary shares	200	2.4 %
H HAREID FASTLANDSAMBAND AS	Ordinary shares	200	2.08 %
P PROTOMORE KUNNSKAPSPARK AS	Ordinary shares	200	1.42 %
K KRISTIANSUND OG NORDMØRE NÆRINGSFORENING AS	Ordinary shares	425	0.29 %
M MØREAKSEN AS	Ordinary shares	212	0.29 %
S SOLSTAD OFFSHORE ASA	NO0003080608	1,027	< 0.01 %
U ULSTEIN GROUP ASA	NO0010003411	2,500	< 0.01 %

Last update: May 24, 2024

Group structure

VARD GROUP AS
Total operating income 2023: NOK 5,727,010,334
Operating profit 2023: NOK -212,681,517
Employees: 826

Financials

in NOK

Summary

Year	2023	2022	2021
Total operating income	5,727,010,334	6,002,249,000	6,194,241,000
Annual Total Result	-87,932,656	-426,318,000	-766,629,000
Total assets	15,010,417,044	9,390,141,000	8,224,752,000
Total liabilities	14,987,576,522	9,279,368,000	7,687,660,000
Total equity	22,840,522	110,773,000	537,092,000

P&L

Year	2023	2022	2021
Total operating income	5,727,010,334	6,002,249,000	6,194,241,000
Total operating costs	5,939,691,851	6,395,441,000	6,852,663,000
Operating result	-212,681,517	-393,192,000	-658,422,000
Financial income/costs	124,748,861	-30,505,000	-107,652,000
Profit before tax	-87,932,656	-423,697,000	-766,074,000
Total tax & extraordinary income/cost	0	2,621,000	555,000
Annual Total Result	-87,932,656	-426,318,000	-766,629,000

Balance overview

Year	2023	2022	2021
Total fixed assets	3,898,882,352	2,427,341,000	2,631,889,000
Total current assets	11,111,534,691	6,962,800,000	5,592,863,000
Total assets	15,010,417,044	9,390,141,000	8,224,752,000
Short term debt	14,937,576,522	9,229,368,000	7,637,660,000
Long term debt	50,000,000	50,000,000	50,000,000
Total liabilities	14,987,576,522	9,279,368,000	7,687,660,000
Contributed capital	8,719,751,897	8,719,752,000	8,719,752,000
Retained earnings	-8,696,911,375	-8,608,979,000	-8,182,660,000
Total equity	22,840,522	110,773,000	537,092,000
Total equity and liabilities	15,010,417,044	9,390,141,000	8,224,752,000

VARD GROUP AS980 100 820

VARD GROUP AS

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Organization

Ownership

Financials

Management

Management / administration

Board

Others

Ownership

Company shareholders

Shares owned by the VARD GROUP AS

Group structure

Financials

Summary

P&L

Balance overview

Classification