Earnings Release • Dec 15, 2021
Earnings Release
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Volue – Insurance settlement of NOK 20 million received
Oslo, 15 December 2021: Volue published the final documentation following the 5 May 2021 cyber-incident in July earlier this year, and NOK 40 million was recognized as one-off cost in the second quarter 2021. An insurance settlement of NOK 20 million has been received and recognized as other income, reducing the financial impact related to the cyber incident with NOK 20 million. The amount received was the maximum payout under Volue’s insurance coverage and is in line with the Company’s expectations.
No cost from the cyber-incident was recognised in the third quarter 2021 figures and Volue does not expect to recognize any additional costs related to the cyber-incident.
For further information, please contact:
Ingrid Aarsnes, Head of IR & ESG, Volue +47 950 38 364, [email protected]
About Volue | www.volue.com
Volue is a market leader in technologies and services that power the green transition. Based on 50 years of experience, Volue provides innovative solutions, systems and insights to industries critical to society. Over 700 employees work with more than 2,200 customers across energy, power grid, water and infrastructure projects that ensure a sustainable, flexible and reliable future. The company is headquartered in Oslo, Norway and is active in 40+ countries.
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