DNV reports record breaking 2023 results driven by decarbonization and digitalization

Classification society DNV on Tuesday (26 March) said DNV posted revenue of NOK 31,594 million for the year, a year-on-year growth of 26.2% (17.7% when considering currency effects).

2023 also saw record profits from strong performance across all business areas. These results were driven by tighter regulations within the industries DNV operates in, including an increased attention among customers on decarbonization and digitalization.

In its Annual Report 2023, DNV said it focused on providing tailored and practical solutions throughout the year, to challenges in decarbonization and digitalization, working together with customers and the industry to make sure this decade is a decisive success for them.

In 2023, DNV enhanced its Alternative Fuels Insight platform to accelerate the decarbonization of shipping. The upgrade includes the addition of new fuel types, improved fuel-price monitoring supported by Argus, and a crowdsourcing feature to gain input from users.

The Alternative Fuels Insight platform is an open and expanding platform for the latest information on alternative-fuel vessels, infrastructure, and bunkering.

DNV also published new guidelines for the safe installation of onboard carbon capture and storage (OCCS) systems on board ships. The guidelines were published amid growing pressure on the shipping industry to develop effective technologies to reduce emissions as part of the ongoing maritime energy transition.

Group President and CEO of DNV, Remi Eriksen, said: “Despite geopolitical instability and turbulent economic conditions, DNV has yet again delivered excellent results.”

“It demonstrates the resilience and relevance of our assurance and risk management position with our customers. I’m also glad to see that the growing demand for DNV’s services coincides with our customer satisfaction rates reaching a new high, demonstrating the excellent performance and expertise of our employees.” 

Six strategic acquisitions were made throughout the year within cyber security, aquaculture, and renewable energy. These new investments contributed to DNV’s record-breaking growth in 2023. 

“The acquisitions in 2023 are important for realising our strategy towards 2025, and we will see acquisitions high on our agenda also in 2024, Remi Eriksen said. 

DNV also grew the size of its workforce in 2023. The company has almost 15,000 employees from 122 nationalities delivering services in more than 100 countries. The increase in the number of employees represents a growth of around 15,5% from 2022.

Note: The full DNV Annual Report 2023 can be found here.

Photo credit: DNV
Published: 27 March 2024