DNV prepares for new era of risk following another strong year
DNV remains on course to hit its ambitious growth target after achieving a record turnover in 2022.
Høvik, Norway, 30 March 2023 - DNV posted revenues of 25,031 million Norwegian Kroner (NOK) for the year, a year-on-year growth of 16.6%. Strong organic growth from all business areas was the main driver, whilst acquisitions of energy advisory, healthcare technology and certification companies contributed with a 2.3% revenue growth. DNV is well placed to achieve the 45% revenue growth target set out in the 5-year strategy that was launched in 2021.
Geopolitical upheavals and a global pandemic in the first part of the decade have heightened the need for trusted digital solutions, more resilient supply chains, and greener and more secure energy supplies. If the pandemic accelerated digitalization, the war in Ukraine placed a spotlight on energy security and decarbonization. As a leading provider of assurance and risk management services, DNV has further strengthened its position as a globally recognized and trusted voice on decarbonization and digitalization.
Remi Eriksen, DNV’s Group President and CEO, said, “We are entering a new era of risk characterized by ever more intelligent but complex digital systems and the rapid expansion of green energy accelerated by increased focus on energy security. Customers across the maritime, energy, food and healthcare industries are in more need for advice and assurance to keep their operations safe, efficient, sustainable, and compliant than ever before. Our strong performance is allowing us to invest in strengthening DNV’s portfolio with new services and innovation to boost our customers’ resilience in these times of rapid change.”
The transition to a low carbon energy system along with a greater reliance on digital solutions such as artificial intelligence and increasingly complex cyber-physical systems is shaping the operations of companies in all sectors. DNV is in part meeting the challenges of this new risk landscape through inorganic growth. In total, DNV acquired six companies last year and the company’s strong balance sheet will allow it to make further investments and acquisitions in areas strategically important in the Decade of Transformations.
The company has, for example, identified cyber security as one of the key areas of expansion. Escalating geopolitical tensions are resulting in greater focus on critical infrastructure and its resilience to cyber-attacks. This trend is a driving force behind increased demand for DNV’s cyber security solutions, and the basis for DNV’s decision to further increase its growth ambitions in this domain towards 2025.
Shipping continues its journey of transformation, with new fuels and technologies emerging. DNV continues to help the industry realize its decarbonization goals while tackling the related safety challenges.
“We are shaping the future of assurance to provide trust and help our customers keep their operations safe, efficient, sustainable, and compliant during this period of uncertainty and beyond,” added Eriksen.