VIKING shows its strength in a difficult market

Esbjerg, Denmark, 18 March, 2013: Leading marine and fire safety equipment manufacturer and service provider VIKING Life-saving Equipment A/S has reported its ninth year of uninterrupted growth – capturing market share from competitors in a difficult business climate and delivering record turnover of DKK 1.584 billion and PBT of 115 million DKK.

According to CEO Henrik Uhd Christensen, the company’s good results are due to VIKING’s investments in long term growth, which are proving their worth in a worldwide market that has virtually stagnated during 2012.

“Our estimates are that the market experienced limited growth during 2012, primarily due to a positive development within the offshore sector” says Henrik Uhd Christensen. “With our competitors struggling to maintain market share, VIKING’s growth of 10% in turnover is a remarkable achievement that indicates a healthy market position.”

“Even though the company’s annual growth rate decreased from 21% to 10% compared with 2011, we’re satisfied with the result and on track to achieve our long term objectives,” says Henrik Uhd Christensen.

One of the pillars of VIKING’s success is its broad portfolio of offerings with the market’s widest range of safety product and services, as well as customized safety concepts.  

During 2012, VIKING’s focus was on customized solutions tailored to each shipowner’s actual needs. The company’s offshore business experienced solid growth, largely due to strong demand for VIKING’s customized products for the offshore sector.

Growth was also evident in the important Passenger segment, where VIKING provides the highest evacuation capacity in the market - up to 908 people evacuated in just 30 minutes.  

The cargo segment was buoyed by an increased marketshare within agreements for service and equipment exchange, the so-called “VIKING shipowner Agreements,” that match shipowner needs in a difficult market. An accomplishment supported, according to VIKING’s CEO, by the company’s far-reaching network of servicing stations and breadth of service offerings.

“The fact that we have the strongest network and the widest portfolio at competitive prices makes us an attractive partner for many shipping companies,” says Henrik Uhd Christensen.

VIKING grew its global presence again in 2012 with branch offices and servicing stations in Brazil (Recipe and Sao Luis), Sweden (Gothenburg and Smögen), India (Chennai), China (Ning Bo), and the Ukraine (Odessa).

During 2012, VIKING also raised the bar for safety through investments in the development of new products and services. At the end of the year, VIKING acquired a German company specialized in the servicing of maritime fire equipment to help drive the marine fire protection business.

Henrik Uhd Christensen: “The key reasons we’ve been able to achieve our financial objectives are our closeness to customers and our continuous development. We’re constantly in contact with customers, working to refine our understanding of their needs. We use this insight to fine-tune products and concepts so that we can maintain a strong competitiveness.”

For further information please contact:

CEO, Henrik Uhd Christensen, tel. 7611 8100, e-mail huc@VIKING-life.com Global Marketing Manager, Elizabeth Pöckel Tel: +45 7611 8209, e-mail: edp@VIKING-life.com