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DNV announce 2021 results

IIOC member DNV has announced its 2021 results in its 2021 Annual Report.

Overall revenue rose to 21464m NOK, an increase of 2.6%, 7.8% at constant currency.

Within this, Business Assurance delivered revenue of 2892m NOK, a decline of 19.6% on 2020. However, DNV notes that, in early 2021, ‘Business Assurance was split into two new business areas – Business Assurance and Supply Chain and Product Assurance. Due to the reorganization, the 2021 figures are not comparable with those of 2020. In total, Business Assurance and Supply Chain and Product Assurance achieved growth of 8.5%.’

In summarising 2021, DNV states that, ‘Faced with increasingly dynamic and volatile risks related to quality, safety, cyber security, pandemics, and natural disasters, companies are increasingly seeing management systems as an organizational tool to ensure business continuity and resilience management and contribute to the Sustainable Development Goals (SDGs).

Following the first pandemic peak, DNV’s management system certification portfolio has shown a strong recovery. This has been true for all ISO standards, including the main ones, i.e. quality (ISO 9001), environment (ISO 14001), and occupational health and safety (ISO 45001). The migration period to ISO 45001 finally closed in 2021 and all customers were successfully moved to the new standard within the deadline. Moreover, remote auditing continued to prove its relevance in 2021. In a DNV customer survey on remote audits, over 75% of the respondents said they believe a mix of remote and physical audits will be the future norm and that remote audits will become as effective as traditional onsite ones in two to three years. In response to this trend, Business Assurance continued to evolve our offering of both remote and physical audits’.

DNV also note that new requirements in automotive and aerospace have contributed to growth for DNV in these sectors. In the food sector, DNV comments that, ‘The food and beverage industry proved resilient during the pandemic and there was a strong recovery in food safety certification in 2021.’ In addition DNV saw, ‘Intensified focus on information security’, such as ISO/IEC 27001 and ISO/IEC 27701.

The outlook for Business Assurance is described as such, ‘The demand for DNV’s management system certification services is expected to decline due to the cyclical challenge of a lower baseline of recertification audit days following a peak year in 2021. The effects of these developments are moderated by initiatives to increase market shares and reduce attrition.’

The Annual Report can be seen here, with full details at the DNV website here.


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