Viking Grows For Seventh Straight Year

Tuesday, March 22, 2011

In 2010, VIKING Life-Saving Equipment, global manufacturer of safety equipment for the maritime, offshore and fire industries, once again generated growth in both its top and bottom lines.  Despite difficult market conditions, VIKING Life-Saving Equipment secured a slice of the emerging  upturn of the world market in 2010: the Group succeeded in achieving a record turnover of well over DKK 1,250 million, representing a growth of approximately 11% on 2009.

Last year's strategic focus areas – to increase the product range and expand the service solutions – thus had the intended effect, and an operating profit of DKK 97.6 million (a 6% increase on the previous year) was successfully achieved.  In addition, the opening of new service stations and a significantly expanded production led to an increase in employees from 1,237 in 2009 to approximately 1,500 in December 2010.

Broader product and service range

"The market increasingly demands service and support standards, and we have met that need.  Our primary initiative, the Shipowner Agreements, is the widest and yet the most flexible service agreement available within marine safety equipment," says VIKING CEO Henrik Uhd Christensen.

"Our customers have welcomed the opportunity to customize their agreement both for product types and for geography with great enthusiasm," said Christensen.  "Once the agreement is signed, the customer is provided with a reliable operational concept which puts a minimum pressure on the shipyard's resources, allowing it to focus on its core business without compromising on staff security or the shipyard's operating costs."

Global growth – also as an employer

In the autumn of 2010, VIKING acquired the former competitor HYGRAPHA Safety at Sea GmbH & Co., one of the world's leading independent wholesalers in marine safety equipment.  The integration has been very successful: HYGRAPHA continues under its own name but grants VIKING access to an expanded network and expertise, taking the Group a step closer to realizing its vision of becoming a one-stop shop for marine safety equipment.

VIKING's ambition for 2011 is to continue to increase its product range, its innovation in services and its local presence worldwide.  The organization is expected to increase even further in the year ahead, with the largest growth seen outside Denmark.

Founded in 1960 and born global, VIKING is a privately held market leader in maritime safety with group headquarters in Denmark.  The company provides essential safety and fire-fighting equipment to the following segments: passenger, cargo, offshore, defense, fishing, yachting and fire.  Products are manufactured at facilities in Denmark, Norway, USA and Thailand and include chute and slide-based marine and offshore evacuation and embarkation systems, liferafts, lifejackets, immersion suits, fire suits, work suits, pilot suits, transportation suits, man overboard (MOB) boats, davits and other life-saving appliances.

Source: Viking

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