OverviewSuggest Edit

Kvaerner is a provider of engineering, procurement, and construction services for offshore platforms and onshore plants of oil and gas operators. Its solutions include offshore wind solutions, onshore facilities, steel substructures, topsides, concrete solutions, floating structures, etc. Kvaerner's service lineup includes front-end development, marine operations, platform modification and upgrades, and decommissioning services. The company is an international contractor for operators and contractors within oil and gas, renewable energy, and in the field of engineering and fabrication. Kvaerner merged with Aker Solutions in November 2020.

StateClosed
TypePublic
Founded1853
HQLysaker, NO
Websitekvaerner.com
Employee Ratings2.9

Latest Updates

Employees (est.) (Dec 2019)2,800(+3%)
Revenue (FY, 2019)KR9 B(+26%)
Share Price (Nov 2020)KR9.3
Cybersecurity ratingBMore

Key People/Management at Kvaerner

Henrik Inadomi

Henrik Inadomi

Senior Vice President Corporate Support & General Counsel
Sturla Magnus

Sturla Magnus

Executive Vice President Process & Structures
Øyvind Berge

Øyvind Berge

Chief Financial Officer
Guro Høyaas Løken

Guro Høyaas Løken

Executive Vice President FPSOs
Kenneth Simonsen

Kenneth Simonsen

Executive Vice President Renewables
Karl-Petter Løken

Karl-Petter Løken

President & CEO
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Kvaerner Office Locations

Kvaerner has offices in Lysaker, Stavanger, Stord, Trondheim and in 5 other locations
Lysaker, NO (HQ)
Snarøyveien 20
Stavanger, NO
Gamle Forusveien 1
Stord, NO
Eldøyane 59
Trondheim, NO
Ranheimsvegen 10
Verdal, NO
Hamnevegen 7
St. John's, CA
215 Water St
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Kvaerner Financials and Metrics

Kvaerner Revenue

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Kvaerner's revenue was reported to be kr9.03 b in FY, 2019 which is a 25.1% increase from the previous period.
NOK

Revenue (Q2, 2020)

1.5b

Net income (Q2, 2020)

89.0m

EBITDA (Q2, 2020)

162.0m

EBIT (Q2, 2020)

115.0m

Market capitalization (10-Nov-2020)

2.5b

Closing stock price (10-Nov-2020)

9.3

Cash (30-Jun-2020)

1.7b

EV

860.4m
Kvaerner's current market capitalization is kr2.5 b.
Annual
NOKFY, 2017FY, 2018FY, 2019

Revenue

6.5b7.2b9.0b

Revenue growth, %

10%25%

Cost of goods sold

3.2b4.4b5.9b

Gross profit

3.4b2.8b3.1b
Quarterly
NOKQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Revenue

1.9b1.8b1.8b2.1b1.9b2.5b2.1b1.5b

Operating expense total

1.7b1.8b1.7b2.0b1.8b2.4b50.0m47.0m

Depreciation and amortization

26.0m27.0m28.0m41.0m42.0m65.0m50.0m47.0m

EBITDA

193.0m91.0m76.0m129.0m132.0m138.0m(128.0m)162.0m
Annual
NOKFY, 2017FY, 2018FY, 2019

Cash

2.8b3.2b2.3b

Accounts Receivable

744.0m349.0m264.0m

Prepaid Expenses

2.0m56.0m56.0m

Current Assets

4.4b4.6b4.2b
Quarterly
NOKQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Cash

2.8k3.0k2.9k2.9b2.7b2.4b2.0b1.7b

Current Assets

4.4k4.6k4.8k4.7b4.4b4.2b3.9b3.6b

PP&E

798.0828.0875.0989.0m1.0b1.1b1.2b1.1b

Total Assets

5.9k6.1k6.5k6.8b6.5b6.3b6.1b5.7b
Annual
NOKFY, 2017FY, 2018FY, 2019

Net Income

542.0m278.0m233.0m

Depreciation and Amortization

106.0m110.0m193.0m

Cash From Operating Activities

(113.0m)719.0m(98.0m)

Purchases of PP&E

(91.0m)(334.0m)(374.0m)
Quarterly
NOKQ1, 2018Q2, 2018Q3, 2018Q1, 2019Q2, 2019Q3, 2019Q1, 2020Q2, 2020

Depreciation and Amortization

26.0m53.0m258.0m41.0m83.0m148.0m50.0m97.0m

Cash From Operating Activities

(14.0m)322.0m349.0m(208.0m)19.0m(152.0m)(240.0m)(496.0m)

Purchases of PP&E

(26.0m)(100.0m)(202.0m)(70.0m)(151.0m)(267.0m)(31.0m)(52.0m)

Cash From Investing Activities

(26.0m)(106.0m)(209.0m)(69.0m)(171.0m)(276.0m)(10.0m)(72.0m)
NOKFY, 2017

Revenue/Employee

2.5m

Financial Leverage

1.8 x
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Kvaerner Operating Metrics

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Kvaerner Acquisitions / Subsidiaries

Company NameDateDeal Size
Aker Solutions Contracting AS
Kvaerner Americas Holdings Inc
Kværner AS
Kværner ASA
Kvaerner Canada Ltd
Kvaerner Contracting Ltd
Kvaerner Engineering & Technology (Beijing) Co Ltd
Kvaerner Finland Oy
Kværner Ghana AS
Kværner Holding AS
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Kvaerner Revenue Breakdown

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Kvaerner revenue breakdown by geographic segment: 88.3% from Norway, 10.5% from Europe and 1.3% from Other

Human Capital Metrics

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Kvaerner Cybersecurity Score

Cybersecurity ratingPremium dataset

B

81/100

SecurityScorecard logo

Kvaerner Online and Social Media Presence

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Kvaerner News and Updates

Aker Solutions to Merge with Kvaerner, Names New CEO

Aker Solutions announced a merger with Kvaerner and a new chief executive on Friday, forming a firm with $4 billion in revenue that will target the growing renewable energy market

Minutes of Kvaerner ASA’s Annual General Meeting 2020

24 March 2020 - The ordinary Annual General Meeting of Kværner ASA was held on Tuesday, 24 March 2020 at Snarøyveien 20, 1360 Fornebu, Norway.

Kvaerner maintains resilience and aims for zero dividend decision at AGM

19 March 2020 - Kvaerner is monitoring the development of the covid-19 virus development with deep concern and full commitment to apply all necessary measures to protect the life and health of our workforce, business partners and the society around us. Simultaneously, the company is implementing pre…

Kvaerner results up, dividend proposed

12 February 2020 – Kvaerner’s results forKvaerner results up, dividend proposed the fourth quarter and for the full year 2019 ended at planned levels. Operating revenues for the last quarter were NOK 2 789 million for the Field Development segment, where also revenues from joint ventures are include…

Kvaerner sells 1 430 429 shares to employees

23 January 2020 – On the 26 November Nordea Markets sold on behalf of Kværner ASA 1 430 429 shares in relation with the company's share purchase programme for employees. Following the transaction, Kværner ASA holds a total of 1 093 777 own shares. The price was based on the average volume weighted s…

Kvaerner guides for financial results and announces strategic cooperation at Capital Market Update

12 December 2019: During Kvaerner’s capital market update presentations today, the company comments on a series of news. The ambition to grow annual revenues above NOK 10 billion within 2023 is confirmed, and it simultaneously repeats that the financial results will in the short term first decline i…
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Kvaerner Blogs

Kværner ASA: Merger with Aker Solutions ASA to be completed

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFE…

On Track With Announced Merger Initiatives

Aker Solutions and Kvaerner are on track to implement the planned merger in mid-November. This will create a supplier that will enable customers, industry and societies to accelerate the transition to sustainable energy production. The post On Track With Announced Merger Initiatives appeared first o…

Correction in revenues for the Third quarter results 2020: Strong results, increased order backlog

28 October 2020 – In an international market with corona-related volatilities, Kvaerner increased EBITDA -results, order intake and backlog during the third quarter, compared to the same period last year. Simultaneously, the company strengthened its financial platform. A positive cashflow increased …

Third quarter results 2020: Strong results, increased order backlog

In an international market with corona-related volatilities, Kvaerner increased EBITDA -results, order intake and backlog during the third quarter, compared to the same period last year. The post Third quarter results 2020: Strong results, increased order backlog appeared first on Kvaerner.

Invitation to presentation of results for third quarter 2020

Kværner ASA’s results for the third quarter 2020, will be published through the Oslo Stock Exchange on Wednesday 28 October 2020 at 07:00 CET. The post Invitation to presentation of results for third quarter 2020 appeared first on Kvaerner.

Minutes of Kværner ASA’s Extraordinary General Meeting 25 September 2020

25 September 2020 – The Extraordinary General Meeting of Kværner ASA was held today, 25 September 2020 at Snarøyveien 20, 1360 Fornebu, Norway. All proposals on the agenda were adopted, including approval of the merger plan dated 17 July 2020 regarding the contemplated merger with Aker Solutions ASA…
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Kvaerner Frequently Asked Questions

  • When was Kvaerner founded?

    Kvaerner was founded in 1853.

  • Who are Kvaerner key executives?

    Kvaerner's key executives are Henrik Inadomi, Sturla Magnus and Øyvind Berge.

  • How many employees does Kvaerner have?

    Kvaerner has 2,800 employees.

  • What is Kvaerner revenue?

    Latest Kvaerner annual revenue is kr9 b.

  • What is Kvaerner revenue per employee?

    Latest Kvaerner revenue per employee is kr3.2 m.

  • Who are Kvaerner competitors?

    Competitors of Kvaerner include Dietsmann, Kiewit and Fluor.

  • Where is Kvaerner headquarters?

    Kvaerner headquarters is located at Snarøyveien 20, Lysaker.

  • Where are Kvaerner offices?

    Kvaerner has offices in Lysaker, Stavanger, Stord, Trondheim and in 5 other locations.

  • How many offices does Kvaerner have?

    Kvaerner has 10 offices.