Kvaerner’s Executive Management Team Cuts Own Salaries
Kvaerner is implementing a broad range of precautions to mitigate the effects of the covid-19 virus. Focus is on protecting life and health for people in Kvaerner, at our business partners and in the societies around us. In addition, the company works to reduce the effects on ongoing operations and future business opportunities. Kvaerner’s Executive Management Team has decided …
Kvaerner Invests to Increase Productivity and Competitiveness
Kvaerner is taking new steps to increase competitiveness and position the company for future growth. At the Group’s advanced facilities at Stord, the capacity in the yard area, storage area and offices is expanded. In addition, Kvaerner establishes its own inhouse capacity to supply insulation boxes, which often makes up …
Kvaerner: Targets FPSO Market
Kvaerner establishes two new focus areas to grow its operations within both oil and gas projects and in renewable industries. With the new focus areas, the group is aiming for around 40 per cent growth within a few years, compared to revenues in 2018. The company will continue to be …
Kværner ASA: Q1 Results 2019: Solid Q1 Performance, Expects Increased Annual Revenues
The results for the first three months in 2019 is the 31st quarter in a row where Kvaerner delivers solid, positive results. Per 31 March, the revenues were NOK 2 158 million including joint ventures. The corresponding EBITDA was NOK 137 million, and the EBITDA margin was 6.3 percent. The first quarter …
Kvaerner: Jan Arve Haugan Steps Down to become CEO of Aker Energy
Jan Arve Haugan resigns as President & CEO of Kvaerner, and from 1 March 2018, he will start his new role as CEO of the newly established oil company Aker Energy. Idar Eikrem, Executive Vice President and Chief Financial Officer in Kvaerner, is appointed interim CEO. Haugan has been President & …
Kværner ASA: Wins Nord Stream 2 Export Gas Pipeline Facilities
The Swiss operating company Nord Stream 2 AG and Kvaerner have signed a contract for delivery of onshore facilities for a new Russian gas export pipeline. The contract value is somewhat above NOK 600 million. The planned new Nord Stream 2 pipeline across the Baltic Sea will provide reliable, affordable …
Kvaerner: Appoints Idar Eikrem as New CFO, Eiliv Gjesdal Steps Down
Kvaerner’s executive vice president & CFO, Eiliv Gjesdal, has decided to seek new challenges outside Kvaerner, and will step down from the role as CFO as of 6 April 2016. He will work with special tasks until his notice period ends 30 June 2016. “Eiliv Gjesdal started as CFO in …
Kvaerner: Q3 Results – Figures Up 36% qoq
Kvaerner’s financial result (adjusted EBITDA) for the third quarter grew to NOK 148 million. This is an increase of 36 percent from the previous quarter when the result was NOK 109 million. With the last new contract for a third substructure for the Johan Sverdrup platforms signed in October, the …
Kvaerner: Q2 Results – Revenue Up 9%
Growing order intake and activity level in a challenging market. Kvaerner’s order intake in the second quarter was NOK 5 674 million, an increase from NOK 5 360 million in the same quarter last year. The company has also continued the high activity level with revenues for the quarter of …
Kvaerner: Q1 Revenues Up yoy
High revenues continued in spite of challenging markets. Kvaerner continued the high activity also in the first quarter of 2015 and revenues ended at NOK 3 525 million. The order intake was good in spite of the challenging markets, which enabled Kvaerner to maintain the order backlog level from year-end. In …