Chairman's Statement

Dear Shareholders

VARD’s global presence with nine strategically located shipyards and several specialized subsidiaries in four continents allows VARD to collaborate closely with its wide network of partners and gain proximity to customers all over the world. The Company’s strength is enhanced by its links to Fincantieri Group, which shares the same philosophy in always placing our clients at the center of our attention, wherever their business is located and run.

VARD has over years, experienced several cyclical changes in its markets, and again, the company has proven the ability to quickly turn around, and gain new business opportunities. Backed by its impressive and proud shipbuilding history, VARD’s determination to stake out the course in new markets has been supported by an intrinsic attitude to create and enhance value for the clients’ business plans by implementing innovative solutions for the entire value chain.

VARD’s track record in delivering innovative solutions is the result of a clear strategy aimed at building safe, cost-effective and user-friendly vessels in which performance is complemented by integration of the hull and systems combined with an extended smart use of digitalization.

In addition, VARD can leverage on the synergy and cross-fertilization of the best practice and solutions between the Company and Fincantieri in order to deliver unique and bespoke products highly valued by the ship owners.

Determined to remain the best partner to our customers, we are constantly extending our interaction with them from the very early design stage to after ship delivery, making available our asset integrity maintenance tools and competences during the entire operating life of the vessel.

Among the outstanding professional skills and attributes of the VARD team, there are some I particularly value: the passion, the creativeness, the transparency and the pride of my colleagues working in a great team towards a common goal of creating opportunities and long-term values for all our stakeholders.

I deeply respect the strengths and unique shipbuilding know-how built over generations, and I am honored to be a part of VARD’s team.

On behalf of the Board of Directors, I would like to thank our shareholders and clients for your confidence in VARD.

Mr. Giuseppe Coronella
Chairman of the Board










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