Economic contribution

For DNV GL, being sustainable means delivering long-term value in financial, environmental, social and ethical terms.

Why it matters

For any organization, robust financial performance is essential to long-term success. With a history stretching back to 1864, it has always been prerequisite for running our business, and it remains so today. Our economic performance is an important part of how we view sustainability. For DNV GL, being sustainable means delivering long-term value in financial, environmental, social and ethical terms.

Our business success generates many benefits for society. From creating direct and indirect employment, to paying taxes where we operate and ensuring good financial performance to maintain sustainable operations and invest in our future.

Progress in 2018

Revenue for the year was NOK 19,639 million with an operating profit of NOK 549 million. At the end of 2018, DNV GL Group had a total equity of NOK 15,951 million. We employed 12,101 employees paying a total of NOK 11,224 million in employee wages and benefits. Total tax expenses were NOK 160 million for the year. 

We continue to commit 5% of our annual revenues to research and innovation programmes, which helps us to fulfil our purpose to safeguard life, property and the environment.

Looking ahead

Our current business strategy runs until 2020. During 2019, we will start to develop a new strategy for beyond 2020 that will define our plans for robust financial and sustainable performance going forward.

Approach

We are solely owned by Stiftelsen Det Norske Veritas, a freestanding, independent Norwegian foundation whose long-lasting purpose is to safeguard life, property and the environment. This purpose is realized mainly through the 100% ownership of DNV GL Group AS.
 
Our owner requires DNV GL to run profitable operations and society at large benefits from the employment, taxes and other economic activity we create. As a result, many stakeholders rely on DNV GL to effectively manage our economic performance. Sustainable and profitable growth is a key criterion for our success. All business areas are expected to meet or exceed their annual revenue targets, but growth must not take place at the expense of profitability, quality and the integrity of our operations.

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Performance

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