HAV Group ASA: Third quarter 2023 financial results

(Fosnavåg, Norway, 24 November 2023) HAV Group ASA (HAV Group, OSE: HAV) reported revenue of NOK 193 million in the third quarter of 2023, an increase from NOK 136.6 million in the same quarter last year. As guided in the second quarter presentation, HAV Group expected weaker operating result in the second half 2023. EBITDA* for the third quarter ended at NOK -17.0 million (5.3). Order intake in the quarter was strong at NOK 288 million (61).

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HAV Group presents at Redeye Theme: Cleantech

On November 28th, at 10:25 AM, CEO Gunnar Larsen will present the latest developments in the HAV Group at Redeye.

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Webcast: Invitation to presentation of Q3 2023 financial results

HAV Group ASA invites investors, analysts and journalists to a webcast presentation of its third quarter 2023 financial resul

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Successful test of hydrogen fuel cell with control system for HAV Hydrogen and Norwegian Electric Systems

HAV Hydrogen and Norwegian Electric Systems (NES) have completed a successful laboratory test of a hydrogen fuel cell in combination with a maritime control system. The successful test is a continuation of the FreeCO2ast project that has developed a high-capacity hydrogen-based energy system that can be retrofitted onboard ships.

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HAV Group completes acquisition of Undheim Systems

HAV Group ASA has today successfully completed the acquisition of Undheim Systems AS, a provider of dynamic positioning (DP) systems for vessels. Undheim Systems will be integrated with HAV Group’s subsidiary Norwegian Electric Systems (NES) to develop semi-autonomous and autonomous vessel capabilities.

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Financial results for the second quarter of 2023

(Fosnavåg, Norway, 30 August 2023) HAV Group ASA (HAV Group, OSE: HAV), the enabler of the green transition at sea, reported revenue of NOK 200.3 million in the second quarter of 2023, an increase from NOK 159.9 million in the same quarter last year. The operating result (EBIT) was NOK 59.6 million in the second quarter, versus NOK 13.9 million last year. Revenue and profits are positively affected by a reversal of a previously accounted provision of NOK 46.9 million.

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Webcast: Invitation to presentation of second quarter and half-year 2023 financial results

HAV Group ASA invites investors, analysts and journalists to webcast presentation of the second quarter and half-year financial results 2023.

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Excited to be a part of "Business on the Rock" conference!

Gunnar Larsen, CEO of HAV Group, and Siv Remøy-Vangen, Managing Director of Norwegian Electric Systems, will be sharing insights during the conference Friday 4 Agust 2023 in Rauma, Norway.

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HAV Group chosen to develop ESVAGT SOV

Reference is made to the stock exchange announcement dated 5 July 2023 regarding HAV Group’s ship design business being chosen to develop another methanol-fuelled offshore wind service operation vessel (SOV) for ESVAGT. HAV Group has now signed the final contract with ESVAGT’s chosen shipyard.

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HAV Group targets green transition for short sea transport

6 June 2023 – By combining technologies and competence from all its subsidiary companies, HAV Group has launched a commercial initiative to provide complete solutions for emission reduction in short sea transport.

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HAV Group becomes industrialization partner for ammonia cracking technology close to market breakthrough

​31 May 2023 – HAV Group ASA has agreed to become industrialization partner for Pherousa Green Technologies AS (Pherousa), which is developing an ammonia cracker capable of converting ammonia to fuel cell quality hydrogen.

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HAV Group ASA to acquire dynamic positioning and autonomous vessel capabilities

9 May 2023 – HAV Group ASA has agreed to the principal terms of an agreement to acquire Undheim Systems AS, which is a provider of dynamic positioning (DP) systems for vessels. The planned technology acquisition is a strategic move that accelerates HAV Group's plans to offer digital functionality that meets the global maritime market's needs for decision support tools and autonomous ship operations.

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Subsidiary NES to support superyacht

HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) has been awarded a contract to provide equipment deliveries and system integration services in connection with the upgrade of an undisclosed superyacht.

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HAV Hydrogen obtains DNV Approval in Principle for containerized H2 system for ships

Six months after announcing its plans to launch a deck-based containerized hydrogen (H2) energy systems for ships, HAV Group ASA’s subsidiary HAV Hydrogen today unveils details of the system that has received Approval in Principle (AiP) from DNV. The AiP is an important milestone for HAV Hydrogen in bringing the new Zero Emission Pod system onto the market and engaging with customers on the first commercial installations of the system.

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Webcast: Invitation to presentation of fourth quarter 2022 financial results

HAV Group ASA invites investors, analysts and journalists to the presentation of the fourth quarter financial results 2022.

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Esvagt/Crowley JV chooses HAV Design for US windfarm SOV

CREST, which is Crowley and ESVAGT’s US joint venture, has chosen HAV Design to develop a newbuild service operation vessel (SOV) destined for the Coastal Virginia Offshore Wind project.

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Cemre chooses NES for twin hull SOVs

Cemre Shipyard has awarded HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) a contract to deliver energy design, and smart control systems for two “Windkeeper” service operations vessels (SOV) that the Turkish shipyard is building for GC Rieber Shipping.

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HAV Design secures US offshore wind market breakthrough

CREST has chosen HAV Group ASA’s subsidiary HAV Design to develop a newbuild service operation vessel (SOV) destined for a US offshore wind project.

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Volstad Maritime orders NES battery pack for another subsea construction vessel

Volstad Maritime has contracted Norwegian Electric Systems AS (NES) to deliver the battery package and associated control system for battery charging to the M/S Deep Cygnus subsea construction vessel.

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Volstad Maritime picks NES for another offshore vessel upgrade

Volstad Maritime has contracted HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) to deliver the battery pack and associated control system for battery charging to the Grand Canyon II offshore construction vessel.

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Financial results for the third quarter of 2022

HAV Group ASA (HAV Group, OSE:HAV) reported revenues of NOK 136.6 million in the third quarter of 2022, up from NOK 80.6 million in the same quarter in 2021 due to the project based business model, and an EBIT of NOK 0.8 million (10.8). Despite short-term uncertainty, the momentum for sustainable solutions in the shipbuilding market is expected to yield solid opportunities and HAV Group reiterates the 2025 revenue outlook of NOK 1.3 billion.

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HAV Group presenting at Fourth Annual Renewables and Clean-Tech conference

HAV Hydrogen’s Kristian Osnes will be one of the speakers at Fearnley Securities Fourth Annual Renewables and Clean-Tech conference.

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Webcast: Invitation to presentation of third quarter 2022 financial results

HAV Group ASA invites investors, analysts and journalists to the presentation of the third quarter financial results 2022.

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Ulstein and Olympic choose BWTS from subsidiary Norwegian Greentech

Ulstein Verft has contracted HAV Group subsidiary Norwegian Greentech to deliver the ballast water treatment systems (BWTS) to two wind farm service vessels that the Norwegian shipyard is constructing for Olympic Group.

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Subsidiary to equip offshore construction vessel with battery pack

Volstad Maritime has contracted HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) to deliver the battery pack and associated control system for battery charging to the Grand Canyon III offshore construction vessel.

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Norwegian Hydrogen Centre Officially Opened

HAV Group subsidiary HAV Hydrogen will be a part of HYDROGENi, a Norwegian Centre for Environment-friendly Energy Research (FME) focused on hydrogen and ammonia research and innovation. Yesterday, HYDROGENi officially launched its activities at its kick-off event in Oslo 5 October.

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HAV Group er medarrangør til Fosnavågkonferansen 2022

Ta del i vår sesjon der tema er "Grønn skipsfart og bærekraft på havet". Sted: Thon Hotel Fosnavåg, "Redarrommet" Dato: 29. september Tid: kl 13.00

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Tidewater orders NES battery package for PSV

Offshore service vessel provider Tidewater has contracted HAV Group ASA’s subsidiary Norwegian Electric Systems AS (NES) to deliver a battery package and associated control system for battery charging to be retrofitted on board the platform supply vessel (PSV) M.V. North Pomor.

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Financial results for the second quarter of 2022

HAV Group ASA reported revenues of NOK 159.9 million in the second quarter of 2022, down from NOK 303 million in the same quarter in 2021, and an EBIT of NOK 13.9 million (36.8). Fluctuations in turnover are to be expected due to the company's project-based business model. The development in the maritime market generates good opportunities, and HAV Group reiterates the 2025 revenue outlook of NOK 1.3 billion.

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HAV Hydrogen to introduce containerized H2 system for ships

HAV Hydrogen is set to launch a deck-based containerized hydrogen (H2) energy system for ships in order to fast-track the commercial use of hydrogen as ship fuel.

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Information about Q&A for HAV group's Q2 2022 presentation

Learn how to submit questions during the webcast presentation of Q2 on wednesday 31 August 2022

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Webcast: Invitation to presentation of second quarter 2022 financial results

HAV Group ASA invites investors, analysts and journalists to the presentation of the second quarter financial results 2022.

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Norwegian Electric Systems appoints managing director

Maritime industry supplier Norwegian Electric Systems has appointed Siv Remøy-Vangen as its new managing director.

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DEN STORE HYDROGENDEBATTEN

Gunnar Larsen, CEO i HAV Group, stiller i panelet til den store hydrogendebatten som arrangeres 16. august under Arendalsuka.

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Volstad Maritime orders NES battery package for subsea construction vessel

PRESS RELEASE: Volstad Maritime has contracted Norwegian Electric Systems AS (NES) to deliver the battery package and associated control system for battery charging to the M/S Volantis subsea construction vessel.

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NES has enabled Havila Kystruten to sail fully electric

The battery pack delivered by NES enables the ship to sail emission-free and silently in and out of the world heritage fjord.

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HAV Group enables Havila Kystruten’s first zero emission cruise through the Geirangerfjord

Havila Kystruten`s newest ship, Havila Castor, made history in the Geirangerfjord on 2 June 2022 – operating the first zero emission cruise through the world heritage fjord. The ship is packed with sustainable solutions from HAV Group.

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DNV grants preliminary approval to HAV Group ASA

DNV has awarded HAV Group ASA preliminary approval for its hydrogen-based energy system.

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Webcast: Invitation to presentation of first quarter 2022 financial results

HAV Group ASA invites investors, analysts and journalists to the presentation of the first quarter financial results 2022.

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HAV Group ASA to acquire remaining Norwegian Greentech shares

HAV Group ASA (HAV Group, OSE: HAV) today announces the acquisition of the remaining 22.72 percent of the shares of fast-growing subsidiary Norwegian Greentech AS (Norwegian Greentech), bringing HAV Group’s total ownership to 100 percent.

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Hav Design chosen to develop Ørsted and UK-bound methanol-fueled SOV

ESVAGT has chosen HAV Design to develop an offshore wind service operation vessel (SOV) that will service renewable giant Ørsted’s UK East Regional programme.

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HAV Group receives preliminary approval for hydrogen-based energy system for ships

HAV Group ASA has been granted preliminary approval for the hydrogen-based energy system developed in the FreeCO2ast project. The approval is a major step towards the commercial use of hydrogen fuel by a commercial vessel.

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Royal Arctic Line takes delivery of two Greenland-based cargo vessels

Royal Arctic Line has taken delivery of two newbuild cargo vessels that will operate in Greenland. HAV Design has designed the vessels.

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Scandlines orders onshore ferry charging system from NES

Scandlines has awarded Norwegian Electric Systems AS (NES) a contract to deliver an onshore charging system to the ferry operator’s berth in Rødby, Denmark, for the newbuild zero emission ferry.

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We're hiring R&D Manager

HAV Group is looking for a forward-thinking and experienced R&D Manager with a burning desire to contribute to the green shift in maritime industry.

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Havila Capella tildelt «Next Generation Ship Award»

«Havila Capella» fikk prisen under Nor-Shipping-utstillingen i dag. Skipet er spekket med bærekraftige nyvinninger fra HAV Group-konsernet.

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New Hydrogen Research Centre in Norway

The Research Council of Norway invests NOK 200 million (EUR 20,271,400) in HYDROGENi: a new centre for environment-friendly energy research (FME) dedicated to hydrogen and ammonia.

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VARD orders BWTS for six more marine robotic vessels

Shipbuilding group VARD has awarded Norwegian Greentech a contract to deliver the ballast water treatment systems (BWTS) to six marine robotic vessels that will be built at Vard Vung Tau in Vietnam for an undisclosed shipowner.

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Financial results for the fourth quarter of 2021

HAV Group ASA reported revenue of NOK 224.5 million in the fourth quarter of 2021 (Q4 2020: NOK 143.1 million), with an operating profit of NOK 25.4 (-12.0), corresponding to a margin of 11.3%. The company reiterates the solid outlook and targets 2025 revenue of NOK 1.3 billion, with periodic fluctuations reflecting the project-driven strategy.

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Information about Q&A for HAV group's Q4 presentation

Learn how to submit questions during the webcast presentation of Q4 on Friday March 11 2022.

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HAV Group CEO guest in podcast "Aksjekaffe"

HAV Group CEO, Gunnar Larsen, recently joined Ida Bergitte Andersen Hundvebakke in her podcast "Aksjekaffe with IDA" to give listeners more insight into HAV Group’s different subsidiaries, our history, thoughts about the future and more.

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Webcast: Invitation to presentation of fourth quarter 2021 financial results

HAV Group ASA invites investors, analysts and journalists to the presentation of the fourth quarter financial results 2021.

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Norwegian Greentech’s BWTS secures US Coast Guard certification

Norwegian Greentech has received the important US Coast Guard (USCG) approval for its ballast water treatment system (BWTS).

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Cemre Shipyard selects NES to equip Scandlines’ zero emission ferry

Cemre Shipyard has awarded Norwegian Electric Systems AS (NES) a substantial contract to supply the battery and control systems, plus act as system integrator for a zero-emission ferry that the Turkish shipyard is building for Scandlines.

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Norwegian Electric Systems to establish new company in Turkey

Maritime industry supplier Norwegian Electric Systems AS (NES) is set to establish a new subsidiary company and open an office in Istanbul, Turkey, to provide even better services to Turkish and other shipyards in southern Europe.

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HAV Group ASA: NES to equip cable lay vessel for zero emission operations

29 December 2021 – Ship engineering company Peak Marine Tech AS has awarded HAV Group’s subsidiary Norwegian Electric Systems AS (NES) a contract to supply the battery and control systems to enable zero emission cable lay operations from the converted Fjord Connector cable lay vessel owned by Seaworks Kabel AS.

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HAV Group fuels Havila Capella’s maiden voyage

12 December 2021 – Havila Capella embarks on her maiden voyage from Bergen, Norway, today. HAV Group ASA and its subsidiary companies have been key contributors towards realising the “greenest” voyage along the Norwegian coastline.

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HAV Group to present at clean-tech conference

CEO Gunnar Larsen will present HAV Group at Fearnley Securities Annual Renewables & Clean-Tech Conference on Wednesday 24 November 2021.

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HAV Group feirer overlevering av Havila Kystrutens første kystruteskip

3. November 2021 – Når Havila Kystruten i dag tar levering på det første av selskapets fire kystruteskip, «Havila Capella», er det et skip spekket med miljøvennlige nyvinninger fra HAV Group-konsernet.

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Contract to HAV Group company

International shipping company Gearbulk has contracted HAV Group subsidiary Norwegian Electric Systems AS (NES) to provide the battery system for a new crane to be installed on board the general cargo vessel EMU Arrow.

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Fjord1 contracts NES for ferry conversions and charging stations

Norwegian ferry operator Fjord1 has contracted Norwegian Electric Systems AS (NES) to act as system integrator and deliver power control, distribution and battery systems to three ferries that will be converted from gas and diesel propulsion to zero emission battery operation.

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Preparing for further growth

Turnover has increased fivefold in just a few years, and Norwegian Greentech is now developing a team for further growth

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Major wind research centre kicks off its activities

The NorthWind research centre on wind energy launched its activities yesterday with its first General Assembly

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Zero emissions on the World Heritage fjords

HAV Design has signed a contract for two new battery-powered ferries, which means that the ferries at the gateway to the Geirangerfjord will also be quiet, clean, and green.

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Major modification contract for HAV Design

More than 120 vessels have been built using a HAV design. Now, HAV Design has been awarded its biggest redesign contract to date for major modifications to adapt a ship to changes in the market.

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HAV Design og Norwegian Electric Systems develops the world's most environmentally friendly salmon transporter

HAV Design has developed a live fish carrier with the smallest climate and environmental footprint in the world per kilo of transported salmon. The boat is ordered by Frøy AS and will be put into operation for Cermaq after delivery

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Turnkey delivery to offshore wind ship for NES

Norwegian Electric Systems has won a contract from Green Yard Kleven to deliver energy design and smart control solution to Rem Offshore’s new ship for the offshore wind service market, which will be the first in this segment with a fully-integrated NES bridge system.

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HAV Group ASA – new group for the green shift in the maritime industry

Four companies with special expertise in digitalisation, energy efficiency and zero-emission solutions in the marine and maritime industry are joining forces in HAV Group ASA.

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Developing hydrogen zero-emission vessels in new segment

A European player is set to use Havyard’s expertise in hydrogen and maritime technology to develop a new zero-emission ship concept

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New hard-working vessel for the salmon farming industry

Today, Norsk Fisketransport AS is taking delivery of a new Havyard wellboat that offers greater salmon capacity, enhanced fish welfare and a greener propulsion system

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First in the world to use the Raven bridge system

Havyard delivered the wellboat ‘Reisa’ to Norsk Fisketransport this week. Reisa is the first vessel in the world to boast the bridge system Raven INS developed by Norwegian Electric Systems.

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First in a new line of windfarm service vessels

On Friday, New Havyard Ship Technology in Leirvik handed over yet another windfarm service vessel to the Danish shipping company ESVAGT. Havyard thereby cements its position as the leading supplier of special vessels for the offshore wind industry.

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New Managing Director of Norwegian Electric Systems AS

Geir Larsen will take over as the new Managing Director of Norwegian Electric Systems and will further develop the company’s position in energy design and smart control as part of the green shift.

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First reefer vessel delivered to Royal Arctic Line

In 2018, Havyard Design & Solutions won a contract for the delivery of two ship designs to Royal Arctic Line A/S. Reefer vessel design was a new segment for Havyard and the first of the two ships, ‘Siuana Arctica’, has now been delivered from the Astilleros Zamakona yard in Spain.

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Havyard establishes company for hydrogen power for ships

Havyard’s complete hydrogen system for ships will be completed in 2021, and the group is now establishing a separate company to meet market demand for the solution, which will make it possible also for large ships to sail longer distances with zero emissions.

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New electric ferries become spearhead of unique virtual design tool

Norway's biggest ferry company has ordered two new ferries from Havyard Design & Solutions. They will be the first to benefit fully from Havyard LAB's new and unique three-step tool to become safer and more environmentally friendly. This could result in considerable savings.

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Zero-emission sightseeing vessels for cities and fjords

Havyard Design & Solutions (HDS) with a new design concept for zero-emission sightseeing vessels.

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Management change in Norwegian Electric System AS (NES)

Odd Gunnar Kleppe steps down as EVP / general manager

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