Investor Relations

Bulk Infrastructure is a leading provider of sustainable digital infrastructure in the Nordics. We are an industrial investor, developer, and operator of industrial real estate, data centers, and fiber networks.

Our headquarter is in Oslo with operational teams and sites in other places in the Nordics. We are in total approximately 70 employees and organized into three business areas of Industrial Real Estate, Fiber Networks, and Data Centers.

We believe in the value creation opportunity of enabling our digital society to be fully sustainable. Our ambition is to be the go-to player for anyone that wants to leverage the Nordics for data processing requirements of the future, whether in Denmark, Sweden, or Norway.

Bulk Infrastructure was established in 2006, and the founder and employees still hold the majority share of the company.

Over the years, we have developed more than 500 thousand sqm of industrial buildings including data centers as well as 10 thousand km of subsea and terrestrial fiber networks. We have a customer portfolio ranging from specialized local players to global giants within their fields and own strategic land parcels in several Nordic countries.

For inquiries regarding investor relations, please contact

Gaute Krekling, CFO. Bulk Infrastructure Holding AS.

Our Three Business Areas

Data centers

Bulk Data Centers is an industrial developer, owner, and operator of data centers and data center services across the Nordics. Bulk has a portfolio of assets, capabilities and partners to serve any data center customer requirement in a fast, secure, cost-efficient and sustainable way. The base portfolio consists of three strategic assets located in Oslo (OS-IX), Kristiansand (N01) and Esbjerg (DK01) with international connectivity.

We have in-house expertise in data center design, engineering and operations that combined with our industrial real estate development experience and fiber network deployments allow us to shape the full value chain of the data processing infrastructure.

Bulk Industrial Real Estate

Bulk Industrial Real Estate is a Nordic real estate developer, specializing in industrial buildings, large modern warehouses, cross-dock terminals, and logistics parks.

The business area was established in 2006 and has already developed and delivered to customers more than 500,000 m² of high quality, flexible, and energy-efficient facilities as of 2022.

Bulk Fiber Networks

Bulk Fiber Networks owns and controls fiber infrastructure with the purpose of enabling the Nordics for large scale data processing. We operate fiber cables from Bergen to Oslo and Oslo via Kristiansand to Stavanger and Esbjerg (DK), and are part-owner of the Havfrue cable connecting the US with Northern Europe, and the Havhingsten system connecting Ireland and UK to Esbjerg, and the Havsil system connecting Kristiansand to Esbjerg.

Our fiber infrastructure is modern with high capacity including both subsea and terrestrial systems. We can offer fiber to carriers, large scale data center customers and others that want to produce bandwidth services on top of our infrastructure. Bulk considers itself as an infrastructure provider within fiber, being a partner rather than a competitor to traditional carriers.

Reports & Announcements

Bulk Infrastructure Holding AS is a private limited company. The company’s shares are registered at Euronext VPS in Oslo, Norway. In connection with the Group restructuring in 2020, Bulk Infrastructure Holding AS, former Bulk Infrastructure AS, was established as a holding company of Bulk Infrastructure Group AS.

Financial reports for Bulk Infrastructure Holding AS are listed below.

The merge was implemented from 1. January 2020 with full continuity for tax purposes and from an accounting perspective as of 1 January 2020

Annual reportsHalf year reports
First Half Report 2022
2021First Half Report 2021
2020First Half Report 2020


First Half Report 2019

2018First Half Report 2018
2017First Half Report 2017
2016First Half Report 2016

Bulk Infrastructure Group AS is a subsidiary of Bulk Infrastructure Holding AS, and has one senior unsecured bond issued of MNOK 1,000 listed at Oslo Børs with ISIN NO0010865876. Financial reports for Bulk Infrastructure Group AS are listed here.


Analyst coverage

Arctic Securities

Gustav Larsson

Dir.: +46 8 446 860 93
Mob.: +46 730 622 931

ABG Sundal Collier

Glenn Kringhaug

Dir.: +47 22 01 61 62
Mob.: +47 48 01 61 62

Nordea Markets

Samu Wilhelmsson
Dir: +358 (09) 53007505
Mob: +358 40 509 4022


The majority shareholder of Bulk Infrastructure Holding AS is Bulk Industrier AS, controlled by the founder Peder Nærbø, with 50.9%.
BentallGreenOak LP (BGO) owns 16.3% of the shares, and have committed further capital to support future growth.
Geveran Trading Co. Ltd., a private company controlled by John Fredriksen, holds 12.6% of the shares.
Others, including employees in Bulk Infrastructure, own 20.2% of the shares. About ~70% of Bulk’s employees own shares in the company.
Ownership figures are updated as of 30th of June 2022.

Green Bond

In September 2022, Bulk Infrastructure Group AS completed a new senior unsecured green bond issue of NOK 500 million, with an expected maturity date 15 September 2026. The net proceeds from the bond issue will be used in accordance with the green bond framework.

Green Finance Framework

Green Finance Framework - Second Opinion by CICERO

Investment Criteria

We believe our investment criteria will ensure good investment decisions. We have a strong capital reallocation capability that makes it robust to fundamental changes in market dynamics.


Target infrastructure opportunities that enable or deliver a fundamentally more sustainable global society.


Invest in infrastructure that is critical for the global, modern society.


Invest with an industrial mindset with patience and focus on scalability from the start.


Invest in opportunities where Bulk can leverage its system value, e.g. competence, track record, assets, properties and market position.

Our Values

One Bulk, one set of values that guide our mission to create a
more sustainable future.


We respect our customers and the environment, striving to develop digital infrastructure and industrial real estate solutions that are ethical and responsible.

Creative Power

We approach complex problems with creativity and willingness to challenge conventional thinking.


We are passionate about solving our customers’ challenges.

We believe sustainability is a race the world cannot afford to lose. We must run it together united with our fellow businesses, entrepreneurs and innovators to ensure the future of our resources, our creative power, our planet.