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VARD ELECTRO AS

VARD ELECTRO AS878 634 772

Ships and boats
Limited company
Tennfjordvegen 113 6264 TENNFJORD, Norge

VARD ELECTRO 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.

Keywords

installationcompletionlargeshipsboard

Links

Organization

Chairman of the board
Years since formation
28 years
since Jun 18, 1997
Type
Limited company
VAT registered
Yes
Number of employees
402

Ownership

Number of shares and share classes
1,000
1 share class
Total number of shareholders
1
company
Belongs to group of

Financials

Total operating income 2024
2,617,257,052
NOK
Annual total result 2024
105,088,789
NOK
Total equity 2024
365,130,354
NOK
Last update: Jun 21, 2025

Management

Management / administration

NameRoleShares
Managing Director/CEO-

Board

NameRoleShares
Chairman-
Board Member-
Board Member-
Board Member-
Alternate Member-
Alternate Member-
Board Member-
Board Member-
Board Member-
Board Member-
Board Member-
Alternate Member-

Others

NameRoleShares
D
DELOITTE AS
Auditor-
Last update: Apr 28, 2025

Ownership

Company shareholders

NameShare classTotal number of sharesShare
V
VARD GROUP AS
Ordinary shares
1,000
100 %

Shares owned by the VARD ELECTRO AS

NameShare classTotal number of sharesShare
T
TELECOM NORDEN AS
Ordinary shares
500
5.88 %
M
MOBIT HOLDING AS
Ordinary shares
2,038
0.97 %
Last update: Jun 2, 2025

Group structure

  • Total operating income 2024: NOK 10,237,272,000
    Operating profit 2024: NOK -358,327,000
    Employees: 823

Financials

in NOK

Summary

Year2024202320222021
Total operating income
2,617,257,052
1,806,932,555
1,800,087,101
1,612,191,193
Annual Total Result
105,088,789
162,155,306
90,629,072
44,851,356
Total assets
2,809,520,277
1,909,346,000
1,549,396,073
1,517,976,518
Total liabilities
2,444,389,923
1,556,872,612
1,430,808,454
1,380,017,970
Total equity
365,130,354
352,473,388
118,587,619
137,958,547

P&L

Year2024202320222021
Total operating income
2,617,257,052
1,806,932,555
1,800,087,101
1,612,191,193
Total operating costs
2,513,095,524
1,732,363,977
1,678,047,236
1,518,833,707
Operating result
104,161,529
74,568,578
122,039,865
93,357,486
Financial income/costs
30,611,777
103,889,707
-5,727,349
-18,078,699
Profit before tax
134,773,306
178,458,285
116,312,516
75,278,787
Total tax & extraordinary income/cost
29,684,517
16,302,979
25,683,444
30,427,431
Annual Total Result
105,088,789
162,155,306
90,629,072
44,851,356

Balance overview

Year2024202320222021
Total fixed assets
152,319,485
149,731,120
133,892,381
122,788,736
Total current assets
2,657,200,792
1,759,614,880
1,415,503,692
1,395,187,782
Total assets
2,809,520,277
1,909,346,000
1,549,396,073
1,517,976,518
Short term debt
2,419,599,065
1,539,926,526
1,358,434,885
1,333,327,845
Long term debt
24,790,858
16,946,086
72,373,569
46,690,125
Total liabilities
2,444,389,923
1,556,872,612
1,430,808,454
1,380,017,970
Contributed capital
352,473,388
352,473,388
56,734,230
56,734,230
Retained earnings
12,656,966
0
61,853,389
81,224,317
Total equity
365,130,354
352,473,388
118,587,619
137,958,547
Total equity and liabilities
2,809,520,277
1,909,346,000
1,549,396,073
1,517,976,517

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
Standard industrial classification
C
Main industrial area
Manufacturing
30
Activity
Manufacture of other transport equipment
30.1
Main industrial group
Building of ships and boats
30.11
Industrial group
Building of ships and floating structures
30.115
Industrial group
Installation and completion work on ships more than 100 g.r.tons