GMC with a sharp jump in revenue
The industrial group GMC celebrated its 50th anniversary in 2023 with a significant increase in revenue. “We are optimistic about the future,” says the CEO.
In March 1973, five young comrades from Stavanger established the shipyard GMC in Verksgata – among them Gunnar Magne Christensen, who gave the company its name and is still chairman and owner. Today it is an industrial group consisting of five subsidiaries and almost 250 employees.
The 50th anniversary last year was marked by a sharp jump in revenue, which ended at 633 million kroner. The previous year, the corresponding figure was 497 million. Only once before, in 2014, has total revenue been higher.
The profit before tax was NOK 21.2 million, compared to NOK 19.7 million the previous year.
– We are satisfied with the financial results this year, but very pleased with the development the company had, says CEO Thomas André Vang.
Rigs for 50 new years
GMC provides several different services to the offshore and marine industry, including repair and maintenance, ventilation solutions, and electrical and automation work.
“All our subsidiaries are on the right track now,” is Vang's summary.
Like many other companies, GMC is also trying to gain a foothold in new industries. Vang highlights floating offshore wind and closed fish farms as two markets it is targeting.
“The outlook is very good, and we are optimistic about the future. The company is in the midst of transformation, and now we are gearing up for the next 50 years,” says Vang .
Published in Stavanger Aftenblad 10.07.2024. Read the full story here.
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