VIKING delivers solid results inunpredictable market
BASEL: VIKING grows revenue and earnings in a market characterised by geopolitical uncertainty and lower growth rates.
After years of significant growth in key segments, developments have now normalised. Despite slowdowns in former growth markets, VIKING continues to deliver organic growth, solid results and satisfactory growth rates in new markets.
Revenue for the year totalled DKK 4.2 billion (DKK 4.0 billion in 2024), and profit before tax was DKK 471 million (DKK 452 million in 2024).
In a year when geopolitical unpredictability resulted in rough seas in a number of markets, VIKING stayed on course.
Even though the top line was impacted by the normalisation of former growth markets, both revenue and earnings still saw stable and positive development. Revenue for the year of DKK 4.2 billion (DKK 4.0 billion in 2024) and a profit before tax of DKK 471 million (DKK 452 million in 2024) were therefore considered satisfactory.
“From a period of significant growth in selected segments, we’ve transitioned to a situation of more subdued market developments and rising geopolitical uncertainty. Against this backdrop, we’re pleased to be delivering stable margins and continued top-line and bottom-line growth,” says VIKING CEO Henrik Helsinghof.
Overall growth across markets
The Commercial Shipping segment, which is the largest segment, was satisfactory, as were activity levels in the Cruise & Ferry segment.
The significant growth seen earlier in the Offshore Oil & Gas segment slowed in 2025. On the other hand, the Defence & Professional segment, which has been identified as a focus area in the new strategy period, grew strongly.
“The Defence & Professional segment is under development, and in 2025 it remained the smallest segment. But it is a market that suits us well, where we expect to see continued positive developments in the coming years,” says Henrik Helsinghof.
In 2025, developments were also positive in two key maritime safety service areas. With Marine Fire Service and Life Boat Service, VIKING provides global services in the form of inspection, maintenance and certification of fire-extinguishing systems as well as lifeboats, cranes and similar equipment.
“We are taking greater responsibility for safety at sea. In recent years, we’ve gone from focusing on liferafts to becoming a total supplier of maritime safety,” says Henrik Helsinghof.
Closer to customers
2025 marked the start of a new strategy period, BP28. An essential element of the new strategy is organisational restructuring, focused on making it simpler for customers to do business with VIKING.
“The idea is to get closer to customers with clearer structures and less complexity, making it easier to navigate our business. At the same time, we’ve moved more responsibility and decision-making power closer to our customers,” says Henrik Helsinghof.
He continues: “With the new segment-based structure, our customers have a single point of access for all enquiries and access to specialised expertise in their field. This means simpler collaboration, faster decisions and a more streamlined experience every time they work with us.”
During the year, other focus areas were efficient sourcing and robust production. As a result, efficiency has increased significantly, and more stable deliveries have been ensured in a more unstable world.
“A more subdued market has a bearing on how we run our business. We’ve achieved significant improvements in this area and made our delivery processes more robust, while at the same time strengthening our competitiveness,” says Henrik Helsinghof.
VIKING still expects modest growth rates in 2026, as reflected in the strategy:
“In a market characterised by lower growth, responsible development is an imperative. We must continue to develop our robust and profitable business,” concludes Henrik Helsinghof.
Key figures 2025
