Viking Shows Growth

Press Release
Tuesday, March 19, 2013

Marine and fire safety equipment manufacturer and service provider Viking Life-saving Equipment A/S has reported its ninth year of growth – capturing market share from competitors in a difficult business climate and delivering record turnover of DKK 1,584 billion and PBT of 115 million DKK.



According to CEO Henrik Uhd Christensen, the company’s results are due to Viking’s investments in long term growth, which are proving their worth in a worldwide market that has virtually stagnated during 2012.



“Our estimates are that the market experienced limited growth during 2012, primarily due to a positive development within the offshore sector” says Henrik Uhd Christensen. “With our competitors struggling to maintain market share, Viking’s growth of 10% in turnover is a remarkable achievement that indicates a healthy market position.”



“Even though the company’s annual growth rate decreased from 21% to 10% compared with 2011, we’re satisfied with the result and on track to achieve our long term objectives,” says Henrik Uhd Christensen.



One of the pillars of Viking’s success is its broad portfolio of offerings with the market’s widest range of safety product and services, as well as customized safety concepts.
 


During 2012, Viking’s focus was on customized solutions tailored to each shipowner’s actual needs. The company’s offshore business experienced solid growth, largely due to strong demand for Viking’s customized products for the offshore sector.



Growth was also evident in the important Passenger segment, where Viking provides the highest evacuation capacity in the market - up to 908 people evacuated in just 30 minutes.



The cargo segment was buoyed by an increased marketshare within agreements for service and equipment exchange, the so-called “Viking shipowner Agreements,” that match shipowner needs in a difficult market. An accomplishment supported, according to Viking’s CEO, by the company’s far-reaching network of servicing stations and breadth of service offerings.


Viking grew its global presence again in 2012 with branch offices and servicing stations in Brazil (Recipe and Sao Luis), Sweden (Gothenburg and Smögen), India (Chennai), China (Ning Bo), and the Ukraine (Odessa).
 


During 2012, Viking also made investments in the development of new saftey products and services. At the end of the year, Viking acquired a German company specialized in the servicing of maritime fire equipment to help drive the marine fire protection business.



Henrik Uhd Christensen said, “The key reasons we’ve been able to achieve our financial objectives are our closeness to customers and our continuous development. We’re constantly in contact with customers, working to refine our understanding of their needs. We use this insight to fine-tune products and concepts so that we can maintain a strong competitiveness.”


 

Key Figures Viking Life-Saving Equipment A/S                   
                             
     MIO. DKK               2012        2011          2010          2009            2008    
     Net turnover          1.584       1.442        1.259         1.136            1.074    
     Operating profit    128          121            98               92                 92    
     PBT                        115          102            83               78                 74    
     Profit after tax        79            71              62               59                 55    
     Assets                   1.319      1.105         940             823               857    
     Equity                     559         493            445            377               316    
     Avg. no. of employees    1.694     1.557    1.397    1.237    1.253    
                                   

 

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.

Garamendi Introduces Bipartisan GPS Backup Bill

Congressman John Garamendi (D-Fairfield, CA), the Ranking Member of the House Transportation and Infrastructure Subcommittee on the Coast Guard and Maritime Transportation,

Soo Locks Open for Great Lakes Shipping Season

At 12:01 a.m. on Wednesday, the U.S. Army Corps of Engineers officially opened the Soo Locks for the start of the 2015 Great Lakes shipping season.   The locks at Sault Ste.

Offshore

Nations Convene for Arctic Maritime Discussion

Citing an increasing need to ensure safety, security and stewardship of Arctic waters, member countries of the Arctic Council gathered at U.S. Coast Guard Headquarters

Advanced Drillships a Burden for Owners as Business Slows

Not so long ago, advanced drillships costing more than half a billion dollars each and capable of operating in ever-deeper waters practically guaranteed big profits for oil-rig operators.

Russia May Allow More Firms to Offshore Oil

Russia may allow more oil companies to access its offshore projects, Energy Minister Alexander Novak said on Friday.   "In general, the access can be extended," Novak told reporters in Moscow.

Marine Equipment

3D Machining Puts Wind in the Sails

With ESPRIT CAM software, Armor Mécanique has the wind in its sails; 50% time savings, better quality and new markets thanks to 3D machining Established in 1984

Rolls-Royce Propulsion for Polar Research Vessel

Rolls-Royce informs it has been awarded a contract by shipbuilder Fincantieri to supply a fully integrated propulsion system for Norway’s new Polar Research Vessel,

Plans in Place to Test Intermodal River Transport

The Paducah-McCracken County Riverport Authority and Ingram Barge Company has announced plans to assess the viability of Intermodal River Transportation, utilizing

Maritime Safety

USCG Conducting Ice Flushing Operations

The Coast Guard cutter fleet is flushing ice through the Great Lakes river systems to prevent ice jams and facilitate commercial shipping as the shipping season

Nations Convene for Arctic Maritime Discussion

Citing an increasing need to ensure safety, security and stewardship of Arctic waters, member countries of the Arctic Council gathered at U.S. Coast Guard Headquarters

Garamendi Introduces Bipartisan GPS Backup Bill

Congressman John Garamendi (D-Fairfield, CA), the Ranking Member of the House Transportation and Infrastructure Subcommittee on the Coast Guard and Maritime Transportation,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.3352 sec (3 req/sec)