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
Organization
- CEO
- HT
- Chairman of the board
- AQ
Andrea Qualizza1967
- 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
| Name | Role | Shares |
|---|---|---|
HT | Managing Director/CEO | - |
Board
| Name | Role | Shares |
|---|---|---|
AQ 1967 | Chairman | - |
GP 1970 | Board Member | - |
GO 1974 | Board Member | - |
TV 1967 | Board Member | - |
MS | Alternate Member | - |
JA | Alternate Member | - |
BO 1979 | Board Member | - |
| Board Member | - | |
| Board Member | - | |
CD 1981 | Board Member | - |
HT | Board Member | - |
OE 1986 | Alternate Member | - |
Others
| Name | Role | Shares |
|---|---|---|
| Auditor | - |
Last update: Apr 28, 2025
Ownership
Company shareholders
| Name | Share class | Total number of shares | Share |
|---|---|---|---|
| Ordinary shares | 1,000 | 100 % |
Shares owned by the VARD ELECTRO AS
| Name | Share class | Total number of shares | Share |
|---|---|---|---|
| Ordinary shares | 500 | 5.88 % | |
| Ordinary shares | 2,038 | 0.97 % |
Last update: Jun 2, 2025
Group structure
- Total operating income 2024: NOK 10,237,272,000Operating profit 2024: NOK -358,327,000Employees: 823
Financials
in NOK
Summary
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
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
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
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
| Year | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|
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
Category
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