This weekend, Cegal celebrates its 25th anniversary, bringing employees from all over the world together for a birthday celebration.
The results from the year's first half show that the company is in strong shape and attractive in the market. In recent months, Cegal has signed contracts worth more than MNOK 500 with companies such as Harbour Energy, Interwell, and Equinor.
2025 has started strongly for the global technology company headquartered in Norway. In the first half, revenue increased 11% year-over-year to MNOK 944 million. Profitability has improved significantly: EBITDA is up 43% to NOK 197 million, and operating profit rose to NOK 74 million, from NOK 15 million in H1 2024.
Dagfinn Ringaas, CEO of Cegal, starts: “We are proud to celebrate 25 years with growth and improved profitability. The results show that our strategy to build a leading global technology company for the energy industry is working. We are getting closer to that goal.”
CEO Dagfinn Ringaas
Contracts worth NOK 500 million in May
Cegal has become an attractive partner in the market, signing several large contracts this year with companies including Aa Energi, Harbour Energy, Interwell, and Equinor.
Ringaas says: “The 5-year agreement with Equinor for our EnergyX hydrocarbon accounting software is groundbreaking.”
In May alone, Cegal signed contracts worth close to NOK 500 million.
Ringaas emphasizes: “These contracts clearly show that we have built a strong commercial organization, have a solid market position, and that customers value our unique combination of industry knowledge and technology expertise.”
He continues: “Data is the ‘currency’ of all energy companies. To manage this, they need applications and infrastructure, which is what Cegal delivers. We see strong demand from customers who need secure and stable infrastructure, better integration and efficiency in industrial applications, and more data-driven decision support. Increasingly, they want IT partners who understand the industry.”
A vital and attractive 25-year-old
Cegal was founded in Stavanger, Norway, in 2000, as a provider of secure and stable IT operations tailored to the oil and gas industry. In 2021, Cegal merged with Sysco, founded in 2001, which specialized in technology for the power and renewable sector.
The merger was well-received in the market. Since then, Cegal has delivered 9% growth in 2022 and 2023, and 3% in 2024. So far this year, revenue is up 11%. This growth puts Cegal on track to reach NOK 2 billion in annual revenue in 2025.
Ringaas says: “Cegal is on a mission to build a global tech powerhouse for the energy sector. Our course remains steady, and our operational priorities are unchanged. We have strengthened the company further to win a handful of key international tenders outside Norway, which - if won - will significantly strengthen our global position.”
Another top priority is to deliver world-class service in every customer interaction. To support this, Cegal has transitioned all customers to our brand-new global Customer Care Platform, which will further elevate service quality, increase automation, reduce reactivity, and ensure seamless ownership of all customer responsibilities.
Ringaas concludes: “Our largest customers challenge us both technically and professionally. That drives innovation and development, which benefits our entire customer base. We take insights from global players and make them available to all our customers.”