Strong results for Omega 365 in 2022
Omega 365 achieved a revenue growth of over 20 percent in 2022, reaching approximately NOK 2.5 billion. CFO Kjell Tore Helgeland remarked, “We have gained more customers and delivered more than ever, resulting in a positive outcome.”
The Omega 365 Group, which comprises 30 companies, experienced growth at the group level due to progress in multiple businesses.
“Despite the various factors, we observed a positive development in all companies throughout 2022, with each one capturing a larger market share than before,” Helgeland stated optimistically.
Investing in growth
While the 2022 annual results were impressive, the company’s performance during the pandemic year of 2021 was even stronger. It is worth noting that in 2021, the group divested the HMSREG company, resulting in extraordinary financial income on the bottom line. One reason the 2022 results did not surpass the previous year was the group’s substantial investment throughout the year, including new hires in system departments and the development and enhancement of software products.
Helgeland explained, “To continually evolve and deliver better services to our customers, we must invest in our business. We are dedicated to building long-term customer relationships and expanding into new markets, which is crucial for steering our development in the right direction.”
Supporting the local community
The Omega 365 Group has experienced an average growth rate of 20 percent over the past 22 years. Since 2000, the number of employees has increased from 72 to an impressive 1,875 as of March 2023. The group’s headquarters in Ølensvåg is deeply rooted in the local community, contributing to growth in both business and activities for children, young people, and families.
CFO Kjell Tore Helgeland stated, “Omega 365 is a locally-owned company, and the management has always been committed to the local community they are part of. Among other initiatives, we played a significant role in establishing Medvind24 Næringshage locally and have supported numerous other projects. A robust local community is essential for our growth, as it revolves around people, and we need people to grow.”
He added that the group also supports charitable causes with its annual Christmas gift donation, which last year went to the Norwegian Refugee Council.
Optimism for 2023
Helgeland is confident that 2023 will be another successful year for the group.
“We’ve started the new year on a strong footing, maintaining the momentum from 2022. We’ve completed several major investment projects and can now reap the benefits, particularly in the software and subsea sectors. I believe growth in 2023 will be at least as strong as last year.”
He continued, “What could potentially hinder our growth is lack of access to skilled personnel. We likely could have achieved more with a larger workforce. Traditionally, we’ve had a strong presence in the oil, gas, and energy sectors. The renewable energy sector offers exciting opportunities for us going forward, in addition to continually seeking new markets for both software and personnel recruitment.”