Strong continued growth for DNV

DNV delivers yet another set of record-breaking results, increasing revenues in 2023 by 26.2% compared with the year before. The company continues to grow within its strategic growth areas related to cyber security, aquaculture, and renewable energy. DNV also registered a solid growth in its number of employees.

DNV posted revenue of 31,594 million Norwegian Kroner (NOK) for the year, a year-on-year growth of 26.2% (17,7% when considering currency effects). 

2023 also saw record profits from strong performance across all business areas. These results were driven by tighter regulations within the industries DNV operates in, including an increased attention among customers on decarbonization and digitalization. 

Key figures

DNV Group (mill NOK)	2023	2022	2021	2020	2019
Operating revenue	31,594	25,031	21,464	20,911	21,551
EBITDA	5,386	4,159	3,672	3,481	3,529
EBIT/Operating profit	4,256	3,170	2,646	2,406	2,334
Profit before tax	4,195	2,971	3,158	2,173	1,985
Profit for the year	2,953	1,999	2,420	1,502	1,375
Liquidity	57.7%	56.7%	52.6%	49%	51.1%
Employees	14,841	12,848	11,903	11,632	11,854

“Despite geopolitical instability and turbulent economic conditions, DNV has yet again delivered excellent results. It demonstrates the resilience and relevance of our assurance and risk management position with our customers. I’m also glad to see that the growing demand for DNV’s services coincides with our customer satisfaction rates reaching a new high, demonstrating the excellent performance and expertise of our employees”, says Group President and CEO of DNV, Remi Eriksen.

Six strategic acquisitions 

Six strategic acquisitions were made throughout the year within cyber security, aquaculture, and renewable energy. These new investments contributed to DNV’s record-breaking growth in 2023. 

“The acquisitions in 2023 are important for realizing our strategy towards 2025, and we will see acquisitions high on our agenda also in 2024,”, says Remi Eriksen. 

DNV also grew the size of its workforce in 2023. The company has almost 15,000 employees from 122 nationalities delivering services in more than 100 countries. The increase in the number of employees represents a growth of around 15,5% from 2022. 

Source: DNV