HAV Group has been awarded a contract for equipment deliveries to the Norwegian shipyard Havyard Leirvik. The contract is worth more than NOK 200 million, it is stated in a message on Monday.
The contract has been awarded to the HAV group’s business area for energy design and smart control systems, and the group’s contracting party is Norwegian Electric Systems, in which HAV owns 100 percent.
More details are not given at this time, but HAV Group will provide further details later.
The information provided is, however, enough to send the HAV Group share up 10 percent on Euronext Growth on Monday morning.
The price jump gives HAV Group a market value of just over NOK 340 million.
Profit fall last year
HAV Group refers to itself as a supplier of technology and services for the maritime and marine industry. Last year, the group had a turnover of NOK 617.1 million, compared to NOK 621.8 million the previous year. Ordinary operating profit ended at minus 7.9 million, after a profit of 2.0 million in 2022.
The fall in results was explained in the annual report as a generally lower level of activity.
At the turn of the year, however, the group had an external order reserve that was 25 per cent higher than a year earlier, which, according to CEO Gunnar Larsen, “reflects both a better market and our competitive advantage”.
“This order reserve gives us good visibility for 2024,” he said in a message at the end of April, in connection with the presentation of the annual report for 2023.
