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DNV Annual Report 2007 Petrochemical 25 Food and Beverage 26 Transportation 28 Acting Now for a Sustainable Future Healthcare 30 IT and Telecoms 31 Finance 32

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DNV Annual Report 2007 Petrochemical 25 Food and Beverage 26 Transportation 28 Acting Now for a Sustainable Future Healthcare 30 IT and Telecoms 31 Finance 32 Det Norske Veritas annual report 2007 Content Purpose, values and vision 02 Concern for the environment 03 President’s introduction 04 Report of the Board of Directors 2007 06 The climate challenge 12 INDUSTRY SECTORS Maritime 16 Oil and gas 20 Cleaner energy 24 DNV annual report 2007 Petrochemical 25 Food and beverage 26 Transportation 28 Acting now for a sustainable future Healthcare 30 IT and telecoms 31 Finance 32 Det Norske Veritas CROSS INDUSTRY SERVICES Certification 34 Software 35 Research and Innovation 36 Consulting 37 Training 38 CORPORATE Living our values 40 Managing our own risks 44 Enhancing environmental awareness 46 Beyond business 49 Preventing fraud and corruption 50 Council, Board of Directors, Committees 52 FINANCIAL Financial review 58 Notes to the financial statements 63 Auditor’s report 73 Global Reporting Initiative Index 74 Det Norske Veritas annual report 2007 Content Purpose, values and vision 02 Concern for the environment 03 President’s introduction 04 Report of the Board of Directors 2007 06 The climate challenge 12 INDUSTRY SECTORS Maritime 16 Oil and gas 20 Cleaner energy 24 DNV annual report 2007 Petrochemical 25 Food and beverage 26 Transportation 28 Acting now for a sustainable future Healthcare 30 IT and telecoms 31 Finance 32 Det Norske Veritas CROSS INDUSTRY SERVICES Certification 34 Software 35 Research and Innovation 36 Consulting 37 Training 38 CORPORATE Living our values 40 Managing our own risks 44 Enhancing environmental awareness 46 Beyond business 49 Preventing fraud and corruption 50 Council, Board of Directors, Committees 52 FINANCIAL Financial review 58 Notes to the financial statements 63 Auditor’s report 73 Global Reporting Initiative Index 74 OUR VISION IS TO ENSURE A GLOBAL IMPACT FOR A SAFE AND SUSTAINABLE FUTURE FOR OUR CUSTOMERS AND, ULTIMATELY, SOCIETY AT LARGE. DNV IN BRIEF MAIN SERVICES DNV was established in 1864 and is an independent, 177 mobile offshore units to DNV class CLASSIFICATION Product Certification autonomous foundation with the purpose of safe- Projects completed or under way at more than DNV Classification Rules including IMO Regulations Personnel Certification guarding life, property and the environment. With 300 – Ships of all types 40 refineries around the world Climate change offices in 100 countries, DNV serves customers in the – Mobile and fixed offshore units More than 70 000 certificates issued worldwide maritime and oil and gas industries worldwide, as well – Submarine pipelines Corporate responsibility DNV’s system for safety rating (ISRS) is being used as other business segments such as the food and bever- Classification/certification of materials, equipment by 65 corporations in 20 countries covering 93 000 CONSULTING SERVICES age industry, automotive and IT and telecoms sector and marine systems employees Enterprise risk management DNV is an international organisation, and more than Safety Management Certification Information and communication technology 70% of its revenue arises from activities outside Norway. Over 100 000 samples of ships’ bunker fuel analysed Fuel testing DNV’s total income in 2007 was approximately 8 billion by DNV Petroleum Services in 2007 Safety, health and environmental risk management NOK. Considerable growth was registered, particularly CERTIFICATION Operations excellence DNV is focused on enhancing the positive impacts our in Asia; total operating profit for 2007 was satisfactory Certification of offshore installations Verification, inspection and testing and above the level for the previous year core business activities have on society. This is manifested both in how we conduct our business and how the Accredited quality management system certification to ISO Emergency response services Staff: 7 691 employees of 98 nationalities company is managed standards and industry sector specific quality standards such Loss control management Investment in research and development in 2007: as ISO/TS 16949 (automotive), TL 9000 (telecom), ISO 13485 Performance measurement 550 million NOK DNV has strengthened its position in all its main areas (medical devices), AS 9100 (aerospace), ISO 22000 (food) Training and competence building DNV secured 19% of the world order book in 2007, of activity in 2007. Considerable growth in the number and others equal to 741 ships. A total of 5 400 trading vessels, of employees, turnover and profitability ensures a sound Accredited environmental management system certification DNV performs its services in a truly independent manner. representing 121 million gross tons, were classed by financial foundation, which is required to secure the (ISO 14001 and EMAS), occupational health and safety As a self-owned foundation, there are no shareholders or DNV at year-end – an all-time high for DNV independence and integrity of DNV’s operations. (OHSAS 18001) and information security (ISO 27001) government representatives in any of its decision making bodies. All profit is reinvested in the foundation. KEY FIGURES (figures in mill. NOK) EMPLOYEES WORLDWIDE PRESENCE 4% 3% 5% 37% 18% 29% 2007 2006 2005 2004 2003 I Master 37% I Norway 29% 24% Operating revenue 8 126 7 297 6 683 5 945 5 753 I Bachelor 35% I Americas 12% Net profit 536 546 528 223 402 I Doctorate 4% 4% I Africa 1% I Technical 2% 2% I Asia and Oceania 26% Equity 4 492 3 895 3 239 2 699 2 169 1% Equity ratio (%) 64.9% 61.0% 59.3% 62.5% 50.8% I 2-year college 4% I Europe 24% I Other 18% I Middle East 3% 12% Return on assets (%) 14.4% 15.3% 16.4% 11.9% 15.2% 35% I Nordic and Baltic countries 5% 26% Cash flow 749 710 678 397 485 Employees as at 31 Dec 7 691 6 765 6 095 6 236 5 989 OUR VISION IS TO ENSURE A GLOBAL IMPACT FOR A SAFE AND SUSTAINABLE FUTURE FOR OUR CUSTOMERS AND, ULTIMATELY, SOCIETY AT LARGE. DNV IN BRIEF MAIN SERVICES DNV was established in 1864 and is an independent, 177 mobile offshore units to DNV class CLASSIFICATION Product Certification autonomous foundation with the purpose of safe- Projects completed or under way at more than DNV Classification Rules including IMO Regulations Personnel Certification guarding life, property and the environment. With 300 – Ships of all types 40 refineries around the world Climate change offices in 100 countries, DNV serves customers in the – Mobile and fixed offshore units More than 70 000 certificates issued worldwide maritime and oil and gas industries worldwide, as well – Submarine pipelines Corporate responsibility DNV’s system for safety rating (ISRS) is being used as other business segments such as the food and bever- Classification/certification of materials, equipment by 65 corporations in 20 countries covering 93 000 CONSULTING SERVICES age industry, automotive and IT and telecoms sector and marine systems employees Enterprise risk management DNV is an international organisation, and more than Safety Management Certification Information and communication technology 70% of its revenue arises from activities outside Norway. Over 100 000 samples of ships’ bunker fuel analysed Fuel testing DNV’s total income in 2007 was approximately 8 billion by DNV Petroleum Services in 2007 Safety, health and environmental risk management NOK. Considerable growth was registered, particularly CERTIFICATION Operations excellence DNV is focused on enhancing the positive impacts our in Asia; total operating profit for 2007 was satisfactory Certification of offshore installations Verification, inspection and testing and above the level for the previous year core business activities have on society. This is manifested both in how we conduct our business and how the Accredited quality management system certification to ISO Emergency response services Staff: 7 691 employees of 98 nationalities company is managed standards and industry sector specific quality standards such Loss control management Investment in research and development in 2007: as ISO/TS 16949 (automotive), TL 9000 (telecom), ISO 13485 Performance measurement 550 million NOK DNV has strengthened its position in all its main areas (medical devices), AS 9100 (aerospace), ISO 22000 (food) Training and competence building DNV secured 19% of the world order book in 2007, of activity in 2007. Considerable growth in the number and others equal to 741 ships. A total of 5 400 trading vessels, of employees, turnover and profitability ensures a sound Accredited environmental management system certification DNV performs its services in a truly independent manner. representing 121 million gross tons, were classed by financial foundation, which is required to secure the (ISO 14001 and EMAS), occupational health and safety As a self-owned foundation, there are no shareholders or DNV at year-end – an all-time high for DNV independence and integrity of DNV’s operations. (OHSAS 18001) and information security (ISO 27001) government representatives in any of its decision making bodies. All profit is reinvested in the foundation. KEY FIGURES (figures in mill. NOK) EMPLOYEES WORLDWIDE PRESENCE 4% 3% 5% 37% 18% 29% 2007 2006 2005 2004 2003 I Master 37% I Norway 29% 24% Operating revenue 8 126 7 297 6 683 5 945 5 753 I Bachelor 35% I Americas 12% Net profit 536 546 528 223 402 I Doctorate 4% 4% I Africa 1% I Technical 2% 2% I Asia and Oceania 26% Equity 4 492 3 895 3 239 2 699 2 169 1% Equity ratio (%) 64.9% 61.0% 59.3% 62.5% 50.8% I 2-year college 4% I Europe 24% I Other 18% I Middle East 3% 12% Return on assets (%) 14.4% 15.3% 16.4% 11.9% 15.2% 35% I Nordic and Baltic countries 5% 26% Cash flow 749 710 678 397 485 Employees as at 31 Dec 7 691 6 765 6 095 6 236 5 989 BUSINESS AREAS DNV operates in a wide range of industries internationally DNV IT GLOBAL SERVICES and is organised into four business areas: DNV helps finance, telecommunications, government, defence, aerospace and automotive sector organisations to achieve more DNV MARITIME effective IT risk management, encompassing greater efficiency DNV is one of the world’s leading classification societies.
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