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.

Walking the talk is vital for us. Walking the talk means putting your words into action - showing that you mean what you say by actively doing it. A good value-creating culture is formed when everyone gets to participate and feels ownership of and commitment to the company’s vision. During 2023, we made significant efforts to support and live up to our vision.

Some concrete examples:

• ‍Further accelerating the development of new products & services, by using more resources than ever on R&D.
• We ordered and started installing one of Norway’s largest solar power plants on our factory roof in Molde. This will provide 1 350 000 kWh of renewable energy every year.
• We continued to invest to ensure world-class manufacturing and a minimal footprint from our integrated value chain, with the highlight in December 2023 when we placed our single-largest investment order ever.
• Got certified in ISO27001 – Cyber Security
• We signed an agreement with CEMAsys to provide software to implement complete “Greenhouse gas accounting” for scopes 1-3. This will ensure that we both take the necessary measures to reduce our carbon footprint based on actual figures.
• Signed contracts for numerous vessels that will lead the way in the green maritime transition.
• Our people are our most important asset, by far. Attracting, developing, and retaining the best people is at the heart of our corporate strategy. All-time high recruitment milestones were reached during 2023, welcoming 81 new employees, including 23 new apprentices.

In this third issue of the Brunvoll Sustainability Report, you can find more examples of our ESG (Environmental, Social and Governance) efforts. Humankind is facing severe challenges for the time being, with the geopolitical uncertainties and the macroeconomic situation being what it is. Despite this, the most severe challenge is undoubtedly the ESG concerns around the world. Therefore, we are very proud of our ESG work and efforts during 2023, but we are not content, cannot rest and must keep our focus and efforts going forward.

The outlook for Brunvoll’s markets for the coming years, both in renewables and other traditional segments, is encouraging. However, as a 112-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.

Our values, Reliable, Committed and Responsible are core elements of our strategy. 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, acting in line with our core values.

Together, we can Walk the talk!

Kåre Øyvind Vassdal
Group CEO, Brunvoll