In 2023, NOVA Spektrum Foundation, Norway’s primary venue for trade fairs, events, and concerts, reached record-breaking turnover levels, marking a significant milestone for the organization. These positive outcomes pave the way for the foundation to enhance its vision of establishing the most progressive meeting hub in the Nordic region, catering to business, cultural, and organizational sectors. Despite the challenges posed by the COVID-19 pandemic, the NOVA Spektrum Foundation achieved a remarkable turnover of Nkr578 million (EUR 52.5 million) in 2023, marking its highest-ever revenue. The foundation closed the year with an impressive EBITDA of Nkr103 million (EUR 8.9 million), showcasing a notable improvement of approximately Nkr12 million (EUR 1 million) compared to the previous year, and the second-highest result in its history. Total EBIT amounted to Nkr55 million (EUR 4.8 million).
In 2023, the two arenas hosted a collective total of 123 major events, attracting approximately 640,000 visitors, reflecting the enduring appeal and importance of physical gatherings. Gunn Helen Hagen, CEO of the NOVA Spektrum Foundation, expresses immense satisfaction with the robust performance in 2023, emphasizing the pivotal role of physical meeting spaces in contemporary times. Despite predictions during the pandemic suggesting a shift towards digital and hybrid meeting formats, Hagen asserts that physical events, concerts, shows, and exhibitions remain as vibrant and relevant as ever. She underscores the unparalleled advantages of physical meeting venues in fostering dialogue, trust, and creative processes crucial for individual and business success. As a result, digital and hybrid meetings no longer hold the same allure as they did during the pandemic, with physical gatherings proving to be the preferred choice for achieving effective sales and marketing goals, as observed from the perspective of their exhibitor clients.
For several years, the NOVA Spektrum Foundation has diligently pursued plans to transform Oslo Spektrum into the foremost meeting hub in the Nordic region for business, cultural, and organizational activities. This endeavor involves the construction of a new congress and cultural auditorium adjacent to the existing arena. The approval of these plans by the Oslo City Council in 2023 marked a significant milestone. Presently, preparations are underway for the commencement of construction on the extension, slated to begin in 2025. The recent positive outcomes play a crucial role in realizing the foundation’s aspirations of establishing a state-of-the-art congress and cultural auditorium with a capacity of approximately 3000 attendees.
Situated merely a minute away from Norway’s largest public transport hub and a mere 20-minute drive from Oslo Airport Gardermoen, the new auditorium promises unparalleled accessibility. Construction is set to commence in June 2025, with the targeted completion of the new structure by the latter half of 2028. These new facilities are poised to elevate Norway and Oslo’s appeal as premier destinations for major conferences and congresses. Gunn Helen Hagen, CEO of the NOVA Spektrum Foundation, expresses enthusiasm for the ongoing efforts to create and facilitate national and international meeting venues that foster trade, knowledge-sharing, and inspiration.
Established in 1920, the NOVA Spektrum Foundation’s core mission is to establish and oversee meeting spaces in the form of trade fairs, events, and concerts. The foundation owns and operates NOVA Spektrum (formerly known as Norway Trade Fairs) and Oslo Spektrum, strategically located near Oslo city center and in close proximity to Norway’s primary airport, Oslo Airport Gardermoen.
