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Ulstein Group recorded revenues of USD 280 million and an operating profit of USD 20.5 million in 2025, figures not achieved since 2024. In 2024, these figures were USD 290 million and USD 18.5 million, respectively. The profit before tax in 2025 was USD 17.1 million (USD 12.6 million a year earlier).
"This result reflects the high level of dedication, competence, and adaptability that characterize our organization. We want to express our sincere gratitude to all employees for their great effort. Likewise, we thank our clients for their trust and excellent collaboration," said CEO, Gunvor Ulstein.
The year was characterized by intense activity across the Group. Several shipbuilding projects were delivered, while others were in various stages of completion, ensuring continuity of operations and efficient capacity utilization.
Ulstein strengthened its order book by securing several important contracts. Among them, a notable one is for two fiber optic cable-laying vessels for OMS Group in Malaysia, a milestone for the company in this segment. The project scope includes design, an integrated hybrid power and automation package, and construction at its own facilities.
Additionally, the design company in the Netherlands secured a significant ship design contract for Penta-Ocean Construction in Japan, as well as the design of two rock installation vessels for Van Oord, also in the Netherlands.
These projects demonstrate Ulstein's position in the growing international markets for fiber optic cable laying and offshore wind power, as well as its ability to offer advanced solutions tailored to each client's needs.
Parallel to the construction of new vessels, Ulstein continued to develop its aftermarket and service operations. This helps compensate for natural fluctuations in the shipbuilding market and strengthens the holding company's ability to continue growing over time. Services, upgrades, and long-term maintenance contracts constitute an important offering for clients worldwide.
While the market is influenced by a generally uncertain geopolitical environment, the company indicates that there are strong long-term opportunities, particularly in the offshore wind, maritime infrastructure, and cruise sectors.
"Norway has a unique opportunity to lead the global maritime industry. Thanks to a strong industrial environment and continuous investment in competencies, technology, and innovation, we can maintain growth and develop future-oriented solutions. This requires authorities to facilitate the right conditions," emphasized Gunvor Ulstein.
Source: Portal Portuario
