VIKING Meeting 2025 Goals Sooner Than Expected

VIKING Life-Saving Equipment A/S delivered outstanding results across its product areas and markets in 2023. In terms of revenue and, in particular, earnings, the company has met the goals set out in its BP25 business plan much earlier than expected. Work on the next business plan, BP28, with new strategic objectives, is well advanced, and is due to be approved later this year.

Net revenue increased for the second consecutive year by almost DKK 400 million to DKK 3.53 billion against DKK 3.14 billion in 2022. Pre-tax profit totaled DKK 436.2 million, up from DKK 330.8 million the year before.

“The annual result is remarkable because none of our product or market areas have developed negatively over the year, while the offshore segment has developed particularly strongly. The growing service business has with good reason been stealing the limelight for several years, but in 2023 product sales – on which everything else is based – developed even more impressively. We have seen high activity in all our business areas,” says Gert Lillebæk, CFO.

VIKING used to have excess production capacity within certain product categories, but order volumes for rescue boats are at an unprecedented high level, while our production of immersion suits and fire-fighting suits for the global market is also at an all-time high.

At the end of 2023, VIKING’s extensive service network covered a total of 279 authorized service stations worldwide, and the company’s global presence includes 36 of its own foreign subsidiaries represented in 79 locations. The investment in several full scope service stations is one of the reasons why the number of full-time employees increased by more than 200 to 3,294.

And VIKING’s employees are thriving. The annual job satisfaction survey shows record high satisfaction.

Key figures 2023: