Ulstein Group has gone negative in 2015 – NRK

CEO Gunvor Ulstein says the decline in offshore made 2015 a challenging year.

– We are in challenging times and therefore we focus on restructuring and development in new areas says Ulstein. Ulstein Group has in recent decades been focusing on the design and construction of ships to supply vessel companies. Now we are sure that they go demanding times ahead and we must adapt to it, says the CEO.

Also read: Good numbers for Ulstein Group

Wind, cruise and yacht

Ulstein Group now adds a lot of effort into entrepreneurs within the growing market for wind power and ships needed for the construction of wind turbines. Besides, there is much interesting going on in the design of both cruise ships and yacht market, especially boats that go in demanding waters. Gunvor Ulstein hope they will manage to pull off contracts from such shipowners soon.

siblings Tore Ulstein and Gunvor Ulstein controls Ulstein Group

Photo: Ulstein Group

His brother Tore Ulstein says in a comment that the offshore wind industry is growing. The goal is to get down to a cost level that makes projects become independent of government subsidies. Ulstein Group wants to develop ships and solutions that reduce the use of fuel and thus get down emissions to the environment.

oceans

Havromsbaserte businesses currently account for more than 70 percent of Norwegian export earnings. The future will depend on how we manage our oceans and invest in new knowledge. The siblings say they hope Ulstein Group to succeed in exploiting opportunities and is prepared to work across business clusters for success.

Ulstein Group’s figures for 2015
Revenues in 2015 : 2.33 billion (2014: 2.70 billion. NOK)
earnings in 2015: -95.2 million kroner (2014: 184.1 mill. NOK)
profit before tax in 2015: – 134, 7 million kroner (2014: 167.7 mill. NOK)

also read: NHO president about the future: – Several robots, fewer people.