	1.1.2015 - 31.12.2015	1.1.2014 - 31.12.2014
TURNOVER	74 334	65 312
Change on inventories of finished goods and work in progress	54	101
Other operating income	243	19 714
Variable and fixed costs	-71 364	-63 856

OPERATING MARGIN	3 267	21 271
Deprecations and write-downs	-1 367	-1 386

OPERATING PROFIT	1 900	19 885
Share of result of associated company	231	170
Financing income and expences	-532	-228

PROFIT BEFORE EXTRAORDINARY ITEMS AND TAXES	1 599	19 827
Income taxes	-386	-3 885

PROFIT FOR THE FINANCIAL YEAR

1 212

15 492

MISSION STATEMENT

The company will continue its profitable growth strategy. In the long run, our goal is an annual growth of around 10% and continuous growth in profitability.

Business Segment Insights

CEO’s Review

Our way of working differentiates us from both traditional engineering
companies and component manufacturers.

Strong Growth in Substations

What is VEO’s secret behind this remarkable growth?

Norwegian Hydropower Companies Put Their Trust in VEO

VEO is one of the largest and most reliable operators even in massive contracts.

High Safety Requirements at Sea

The fact that VEO has its own switchgear factory is a competitive advantage.

The UK Invest in Waste-To-Energy Plants

In the next few years, 42 billion pounds will be invested in renewable energy in the UK.

Data Centres Require Operational Security and Top Components

Data centres are built as brown field and green field projects.

Reliable Production

Thanks to VEO’s expertise it was possible to replace the automation system without halting the processes.

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