Evotec continues to experience rapid growth, particularly in the offshore market. With an order backlog of around NOK 600 million, the company is targeting a turnover of NOK 500 million in 2025.

“We are seeing a significant increase in demand for our solutions, especially in offshore oil and gas as well as offshore wind. The market is growing rapidly, and we are well-positioned to meet the increased activity ahead,” says Jogeir Romestrand, CEO of Evotec.

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Offshore Strategy Showing Results

The orders include several major offshore projects, including advanced handling systems and subsea installations for vessels under construction.

Demand for Evotec’s solutions are rising quickly, driven by increased shipbuilding activity within subsea and multipurpose vessels.

“The overall volume in the offshore sector is very high right now, and we have secured deliveries for a large share of the subsea vessels currently under construction,” says Geir Henning Kalvatn, Sales Manager for Offshore Wind at Evotec.

Evotec’s LARS (Launch and Recovery Systems) are among the company’s most successful products. Today, it is increasingly common to deliver two LARS units per vessel, whereas previously only one was required.

“We are seeing more demand from vessel operators for advanced systems that ensure safer and more efficient operations. This has been a key driver behind our recent volume growth,” Kalvatn adds.

Evotec has also developed new systems for offshore cable laying and hopes to secure its first contract in this area soon.

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Activity Across Multiple Markets

While seismic activity is currently lower, Evotec is conducting several upgrade projects for existing clients.

“There’s still work to be done in modifications and upgrades—replacing outdated winches, deck handling equipment, and control systems,” says Nikolay Sundgot, Sales Manager for Aftermarket Services.

In the fisheries segment, Evotec has delivered equipment to over 15 vessels in the past two years, although no new contracts have been signed in this segment so far in 2025.

The aquaculture market has seen lower activity following the introduction of the resource rent tax, but the company is beginning to see signs of recovery, particularly within offshore farming installations.

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Focus on Flexibility and Growth

To support this growth, Evotec is strengthening its organization both in terms of staffing and geographic presence.

In addition to its headquarters in Ulsteinvik, the company has established an engineering department in Tønsberg, a satellite office in Ørsta, and a presence in Stavanger.

“The pandemic taught us that we don’t necessarily need to sit in the same office to work effectively. With decentralized offices, we are also able to recruit more broadly in a tight labor market,” says Romestrand.

Evotec expects the positive trend to continue through the rest of the year and already has several major projects under negotiation.

“We’re looking forward to a record year and would like to thank our employees, customers, and partners for the trust they place in us,” Romestrand concludes.