Stiftelsen Det Norske Veritas releases its annual report for 2018

Posted on May 24, 2019 | Comments Off on Stiftelsen Det Norske Veritas releases its annual report for 2018

Stiftelsen Det Norske Veritas is a free-standing, independent Norwegian foundation whose long-lasting purpose is to safeguard life, property and the environment. This purpose is realized mainly through the ownership of DNV GL Group AS. In addition, Stiftelsen Det Norske Veritas has a portfolio of financial investments. The Stiftelsen Det Norske Veritas group of companies (Det Norske Veritas) achieved revenues of NOK 19,644 million in 2018 and a net loss after tax of NOK 39 million.

Cover annual reports 2018 for Stiftelsen Det Norske VeritasStiftelsen Det Norske Veritas’ purpose is to safeguard life, property and the environment. Det Norske Veritas Holding AS is a fully owned subsidiary of Stiftelsen Det Norske Veritas and Det Norske Veritas Holding AS own 100% of DNV GL Group AS (DNV GL).

In December 2018 the real estate company Det Norske Veritas Eiendom AS was transferred from Det Norske Veritas Holding AS to DNV GL Group AS through a combined demerger – merger transaction. The transaction was effective from 1 January 2018. Det Norske Veritas Eiendom AS is the owner of the Veritas Centre at Høvik, in which the headquarters of Stiftelsen Det Norske Veritas and DNV GL are co-located.

Stiftelsen Det Norske Veritas had at the end of 2018 a NOK 557 million portfolio of financial investments in equity funds and money market funds. The portfolio of financial investments is invested in accordance with the financial investment policy decided by the Board of Directors. The portfolio of financial investments is diversified and highly liquid but with a certain exposure to the financial markets, and yielded a return of NOK -6 million in 2018.

If you want to download the report, please visit the page Annual reports.