VIKING Notes 2024 Total Revenue
VIKING Life-Saving Equipment notes a total annual revenue for 2024 of $500 million and pre-tax profit of $65 million.
2024 has seen growth in all customer segments, including commercial shipping, offshore, cruise and ferries, and defense and professional.
The figures in recent years mean that VIKING already reached its strategic goals for 2025 last year. The company has now entered a new strategy period and the growth is expected to continue, but at a more normal pace.
VIKING’s research and development efforts will primarily focus on developing new evacuation systems and new boats, including electric propulsion boats. After years of rising costs for raw materials, there will also be a focus on optimizing and simplifying the business through several strategic initiatives. Their main activities remain the production and servicing of life rafts, lifeboats, rescue systems, rescue and protective suits, firefighting suits and other maritime and offshore rescue equipment.
The annual report reflects that a tax case concerning previous years has just been decided by the High Court, in which VIKING lost. Tax and interest for the period amounted to an expense for the year of $13 million.