Moreld offers comprehensive services to the offshore energy, renewable, marine, aquaculture, and onshore markets. We have an open dialogue with the market promoting an understanding of our business and the value we create.
Results for 2022:
Moreld doubled its EBITDA and halved its greenhouse gas emissions
Solid revenue and margin expansion
A strong oil and gas market contributed to an increase in revenue to 5.7 billion Norwegian kroner, which is a 15% increase compared to last year. The restructuring of Moreld is yielding results, with the company nearly doubling its earnings before interest, taxes, depreciation, and amortization (EBITDA) to over 296 million kroner in 2022. Depreciation related to goodwill in sold companies resulted in an operating loss of 99 million kroner. For the current year, strong growth and further margin increase are expected, supported by a record-high order backlog of over nine billion kroner.
Lower Carbon Emissions
The company has set ambitious goals to reduce greenhouse gas emissions from its own operations. In 2022, Moreld reduced its own emissions by 49% through targeted measures. Additionally, the company is working to reduce its customers’ greenhouse gas emissions. For the past year, Moreld has contributed to a reduction of 550 thousand tons of CO2e.
Ramping up hiring efforts
Moreld Group, with over 3,000 employees, has experienced increased activity, leading to the recruitment of over 200 employees in the company Apply alone. In total, Moreld Group hired over 400 new employees in 2022, and the increased activity continues with further recruitment in 2023.
“I am very pleased with last year, which was a successful year for the Moreld Group. The company has successfully undergone a transformation and is now positioned for further growth. The investments made in renewable energy are showing promising developments. I would particularly like to highlight the establishment of Moreld Ocean Wind, which has become a leading international company in floating offshore wind. The company has secured numerous study contracts with major international players. I would also like to emphasize the excellent collaboration we have with the major operators on the Norwegian continental shelf. In a busy year, we have carried out important work that contributes to strengthening the energy supply to Europe” said CEO Geir Austigard.