DOF GROUP ASA
Sector unknown·DOFG · Oslo Børs·Fiscal year to 31/12/2024
Exposure profile
Derived from what the company itself writes. Empty directions mean the report doesn't mention themes of that type.
In their own words
Grouped by theme, from the management review in the annual report. A · The company itself is a verbatim quote, B · From the report is without a verified quote.
Oil
Raw materials and inputs
InputNegative impact: weakens
“E1-5 Energy consumption and mix Energy consumption and mix 1 Fuel consumption from coal and coal products (MWh) 2 Fuel consumption from crude oil and petroleum products (MWh) 3 Fuel consumption from natural gas (MWh) 4 Fuel consumption from other fossil sources (MWh) 5 Consumption of purchased or acquired electricity, heat, steam and cooling from fossil sources (MWh) 6 Total fossil energy consumption (MWh) (calculated as the sum of lines 1 to 5) Share of fossil sources in total energy consumption (%) 7 Consumption from nuclear sources (MWh) Share of consumption from nuclear sources in total energy consumption (MWh) 8 Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen etc) (MWh) 9 Consumption of purchased or acquired electricity, heat steam and cooling from renewable sources (MWh) 10 The consumption of self-generated non-fuel renewable energy (MWh) 11.”
Annual report 2024A · The company itself
Market
“There has been growth across all segments, with a strong performance from the subsea segment where we have experienced a significant growth in the activity level together with improved rates and project margins.”
Annual report 2024A · The company itself
Chains out: this strengthens Plastics and polymers
Shipping and logistics
End markets
Market
“There has been growth across all segments, with a strong performance from the subsea segment where we have experienced a significant growth in the activity level together with improved rates and project margins.”
Annual report 2024A · The company itself
Chains in: Carbon tax and ETS prices weakens, Global trade volumes strengthens, Fuel strengthens
Utilities
End markets
Market
“DOF Denmark A/S is a leading provider of marine services for offshore energy sectors. The entire fleet comprises 13 anchor handling vessels, eight subsea support vessels, one cable layer vessel along with one new build contract. DOF Denmark A/S specialises in towing, mooring, and installing floating units and employs around 1,400 offshore and 260 onshore staff.”
Annual report 2024A · The company itself
Wind power
Technology
Market
“Longer term, I am confident the offshore floating wind market will provide additional opportunities to expand our backlog.”
Annual report 2024A · The company itself
Chains in: Interest rates weakens, Energy security strengthens
Chains out: this strengthens Steel, strengthens Rare earths and critical raw materials, strengthens Renewables auctions and subsidies, strengthens Power grid expansion
Financial regulation
Regulation
DriverNegative impact: weakens
“Financial covenants in loan agreements The Group is in compliance with all covenants in the loan agreements in 2024, and expect to comply with the applicable covenants in 2025. After the refinancing in March 2025 new covenants will be applicable and replace covenants for all loan facilities, except covenants related to the Norskan Offshore Ltda facility.”
Annual report 2024A · The company itself
DriverNegative impact: weakens
“The new tax legislation ensuring a global minimum tax for multinational enterprises with consolidated group revenue of at least EUR 750 million. DOF Group ASA is subject to this law and expects to remain within the EUR 750 million limit.”
Annual report 2024A · The company itself
Climate change and extreme weather
Macro
DriverNegative impact: weakens
“Useful life and economic life of the Group vessels are estimated to be 30 years and is based on knowledge of the market and years of operations of these types of vessels. Residual value after 30 years is set to zero based on an assumption that environmental requirements related to disposal of vessels are estimated to offset the scrap value of the steel.”
Annual report 2024A · The company itself
Chains out: this weakens Agriculture and food production
Cybersecurity (products and services)
Technology
DriverNegative impact: weakens
“Exposure to data breaches, cyber attacks and unauthorized access to employee data PI Direct Breach of data privacy legislation may result in significant fines for the organisation !”
Annual report 2024A · The company itself
Chains in: Cyber attacks and IT security risk strengthens
Chains out: this strengthens Digitalisation
Electricity
Raw materials and inputs
InputNegative impact: weakens
“E1-5 Energy consumption and mix Energy consumption and mix 1 Fuel consumption from coal and coal products (MWh) 2 Fuel consumption from crude oil and petroleum products (MWh) 3 Fuel consumption from natural gas (MWh) 4 Fuel consumption from other fossil sources (MWh) 5 Consumption of purchased or acquired electricity, heat, steam and cooling from fossil sources (MWh) 6 Total fossil energy consumption (MWh) (calculated as the sum of lines 1 to 5) Share of fossil sources in total energy consumption (%) 7 Consumption from nuclear sources (MWh) Share of consumption from nuclear sources in total energy consumption (MWh) 8 Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen etc) (MWh) 9 Consumption of purchased or acquired electricity, heat steam and cooling from renewable sources (MWh) 10 The consumption of self-generated non-fuel renewable energy (MWh) 11.”
Annual report 2024A · The company itself
Chains in: Data centres strengthens, Electrification strengthens
Chains out: this strengthens Power grid expansion
Geopolitical uncertainty
Macro
DriverNegative impact: weakens
“Compensation expectations may negatively affect DOF’s ability to attract and retain the required competence AI Direct High consequence low probability incidents can have fatal or serious consequences for workers PI Direct Increased operational activity in areas with high security risk may negatively affect health, safety and wellbeing of DOF workforce PI Direct Increased operational activity in areas with high security risk requires additional security risk management measures and resources !”
Annual report 2024A · The company itself
Chains out: this strengthens Defence budgets, strengthens Energy security, strengthens Tariffs and trade policy, weakens Global trade volumes, strengthens Sea freight and freight rates, weakens Reconstruction of Ukraine
Global trade volumes
Macro
DriverPositive impact: strengthens
“This growth continued throughout 2024 with high demand for our services and we are well positioned for further growth in 2025.”
Annual report 2024A · The company itself
Chains in: Tariffs and trade policy weakens, Geopolitical uncertainty weakens, Business cycle and GDP growth strengthens
Chains out: this strengthens Shipping and logistics
Interest rates
Macro
DriverNegative impact: weakens
“With the refinancing now in place, the Group has further improved its financial position by addressing all near term maturities and done the necessary amendments for the Group to commence dividend payments in Q2 2025.”
Annual report 2024A · The company itself
Chains in: Public debt and fiscal policy strengthens, Inflation strengthens
Chains out: this weakens Construction, weakens Real estate, weakens Wind power, weakens Housing market, weakens Office and commercial property, weakens Residential rental, weakens Residential construction
Natural gas
Raw materials and inputs
InputNegative impact: weakens
“E1-5 Energy consumption and mix Energy consumption and mix 1 Fuel consumption from coal and coal products (MWh) 2 Fuel consumption from crude oil and petroleum products (MWh) 3 Fuel consumption from natural gas (MWh) 4 Fuel consumption from other fossil sources (MWh) 5 Consumption of purchased or acquired electricity, heat, steam and cooling from fossil sources (MWh) 6 Total fossil energy consumption (MWh) (calculated as the sum of lines 1 to 5) Share of fossil sources in total energy consumption (%) 7 Consumption from nuclear sources (MWh) Share of consumption from nuclear sources in total energy consumption (MWh) 8 Fuel consumption for renewable sources, including biomass (also comprising industrial and municipal waste of biologic origin, biogas, renewable hydrogen etc) (MWh) 9 Consumption of purchased or acquired electricity, heat steam and cooling from renewable sources (MWh) 10 The consumption of self-generated non-fuel renewable energy (MWh) 11.”
Annual report 2024A · The company itself
Asia and emerging markets
Geography
Geography
“DOF was awarded two subsea contract awards for offshore execution in 2025 in the APAC region, including saturation diving services utilising DSV Skandi Singapore in Malaysian waters for a duration of 30 days, and construction support services utilising one of DOF’s multipurpose vessels in Indonesia for a duration of seven weeks. The awards have an estimated combined value of over USD 30 million.”
Annual report 2024A · The company itself
Geography
“DOF was awarded a FPSO installation project for offshore execution in Q2 2025 in Africa, utilising two of DOF’s AHTS vessels. The award includes project management, engineering, logistical services and offshore execution, with value between USD 15 million and 25 million.”
Annual report 2024A · The company itself
Europe
Geography
Geography
“DOF was awarded a SURF project in the Atlantic region with execution in 2H of 2025 in Africa, utilising six vessels. The award includes project management, engineering, logistical and execution services to install flexible flowlines, risers, cables and associated subsea structures. DOF shall also install a floating production unit on behalf of the client.”
Annual report 2024A · The company itself
Packaging
Raw materials and inputs
InputNegative impact: weakens
“The Group`s right-of-use assets per 31 December 2024, are mainly related to the lease of offices and to the lease of the vessel Stril Explorer from 2023. In addition, the Group has from April 2024 leased the vessel Maersk Installer (renamed to Skandi Installer) from Maersk Supply Service A/S (DOF Danmark), this vessel was classified as a right-of-use vessel until the acquisition of DOF Denmark on 1 November.”
Annual report 2024A · The company itself
Chains out: this weakens Beer and beverages
Competitors mentioned in the report
No named competitors in the report.
Financial figures
| Revenue latest fiscal year | 1.39 bn USD |
| Revenue growth vs. the year before, same method | 22.7 % |
| EBITDA reported by the company | N/A |
| Net debt debt incl. leasing minus cash | N/A |
| Diluted EPS per share | 0.93 USD |
Source: annual report (ESEF) A. See the report
Criteria
| Profit | ✓ |
| Growing | ✓ |
| Healthy balance sheet | N/A |
Only the criteria that can be computed from financial statements on this page. The remaining criteria (such as price and dividend) need a share price and are in the analysis.
Figures are in the report's currency (USD), not converted to DKK. Quotes are shown as the company's own words in the report's original language.