Financial Result 2023

The Annual Report has been presented and adopted at the Company's Annual General assembly on 27th April 2023

In 2023, the shipyard did not have any newbuilding activities. The main activities during 2023 were within the repair segment, in which the Company managed to keep a steady and high occupancy during the entire year due to active sales promotion and customer-targeting work.
The revenue is especially impacted positively by a handful of larger rebuilding projects containing
much steel work.

Throughout the year, material costs have been incurred again in 2023 for maintenance of
existing and investment in a new crane, among other things, just as various efficiency measures
and cost-effective measures have been introduced and contributed positively to the annual results.

The realised results for the period are significantly higher than expected at the beginning of the year. This is despite the disadvantages, which the shipyard has been impacted by as a consequence of the flood on 20 October 2023.

For several years, the green agenda has been the Company's strategic guide for the development
of the shipyard and the work performed. The Company wishes still to focus on the creation of
sustainable solutions and services to the Company’s customers. This applies to both the value chain of the Company and to how the Company acts towards their community, employees and the investments made in the new facilities.

In 2023, the Company was re-certified according to the quality management standard ISO
9001:2015 and the environmental management standard ISO 14001:2015 regarding newbuilding,
maintenance and repair of ships. 

The full Financial report can be found HERE