Introduction from the CEO

Our strategic vision is to improve our customers’ competitiveness by delivering systems and services that reduce life-cycle costs, have high operational reliability, and reduce emissions.

Global instability and macroeconomic risks are higher than they have been in a very long time. This means committing to our values Reliable, Committed and Responsible remains more critical than ever. Every day, we will continue to strive to make all stakeholders associate Brunvoll with these values. This is not always easy, nor will we ever see the end of this process, but we remain persistent in our efforts as we are acting in line with our core values.

Walking the talk is vital for us. This means aligning actions with words—practicing what we preach. A strong value-driven culture is built when everyone actively participates and feels a sense of ownership and commitment to the company’s vision. During 2024, we made significant efforts to support and live up to our vision.

Some specific examples:

• ‍Accelerating the development of new products and services by investing more resources than ever in R&D, with a strong focus on environmentally friendly solutions.
• One of Norway’s largest solar power plants, installed on our factory roof in Molde, began production in April 2024, surpassing our expected output.
• We continued investing to ensure world-class manufacturing with a minimal footprint from our integrated value chain. Our largest single investment—two machining centres—are now on their way to being installed in our factories in Molde and Volda.
• Started the process for membership in the Science Based Targets initiative (SBTi) and doing a double-materiality analysis.
• Signed contracts for numerous vessels within the Offshore Wind segment that will lead the way in the green maritime transition.
• Our people are by far our most important asset. Attracting, developing, and retaining top talent is at the core of our corporate strategy. By year-end, we reached a record-high number of apprentices, totaling 43.

This is the fourth edition of the Brunvoll Sustainability Report, and we are prouder than ever of the efforts made over the past year. Even if The European Commission has adopted new proposals in its Omnibus packages that will potentially simplify the regulatory requirements for Brunvoll in the future, we are in no doubt that ESG (Environmental, Social and Governance) must remain at the heart of our way of operating. Our roadmap to Net-Zero remains intact, and we will keep pushing forward in the coming years.  

The outlook for Brunvoll’s markets for the coming years, both in renewables and other traditional segments, is promising. However, as a 113-year-old family-owned group, it is essential to consider the long-term perspectives of building a sustainable business. Our focus on continuous improvement will remain very strong in all aspects of our business, including ESG efforts. We firmly believe that a sustainable business is good business.  

Thank you to all our stakeholders for your continued trust and long-term commitment!

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Kåre Øyvind Vassdal
Group CEO, Brunvoll