Best result ever in Obos – builder

The result is measured against 2014, when the group made a profit of 1 819 600 000 respectively.

The Group’s total turnover last year was 9.50 billion, writes Obos in a statement.

– the result is primarily due to a very solid operating result. In addition Obos during the year sold off in Veidekke and AF Gruppen ASA. The sale of these shares gave an overall effect in the group of 895.5 million crowns, said CEO Daniel Kjørberg Siraj.

Tremendous growth

During the year got OBOS 23,668 new members. In addition, OBOS 5924 new members by the merger with Aalesund Boligbyggelag. At the end of the year, OBOS 393,923 paying members.

– We are now the largest residential developer in Norway and one of the largest in Scandinavia. In 2015 sold OBOS Group 3903 new homes, where OBOS’s share amounts to 3,432 homes, says CEO Daniel Kjørberg Siraj. In Oslo, the prices of existing homes through 2015 by 7.3 percent. Nationally, prices rose by 5.2 percent.

The total assets at year end 52.23 billion, compared with 43.47 billion the year before. The increase was 20 percent. Equity in the OBOS Group totaled 14.60 billion. The equity ratio at 31.12.2015 was 28.0 percent against 28.3 percent at the end of 2014.

– I want to thank all employees. The result is due to their untiring efforts throughout the year, says the CEO.

Housing construction

House building in OBOS occurs through the division for residential development. Sales of new homes was very good throughout the year. OBOS has during 2015 initiated 3492 homes and completed 2,259 new homes in Norway and Sweden. In 2015 sold OBOS Group 3903 new housing in Norway and Sweden, the 2931 housing in 2014. In Norway, it sold 2,379 homes. In Sweden, it sold 1,524 homes.

Operational revenues for residential construction in 2015 was at 8.19 billion. The corresponding figure for 2014 was 4.41 billion. Operational profit before tax was 385.9 million kroner, compared with 87.3 million kroner in 2014.

Management and consulting

Within housing administrative district has OBOS Group management agreements with 3,243 housing companies, with totaling 199,090 homes. This represents an increase of 9,343 homes during 2015. This includes dwellings that came through the merger with BBL Aalesund. Per 1 January 2015 managed OBOS 89,187 housing cooperative flats.

Operational revenues management and consulting business for 693.9 million kroner in 2015 and made a profit of 168.5 million, compared with NOK 172.7 million in 2014.

Commercial

OBOS Group owns approximately 565,000 square meters of business premises, office buildings and other commercial properties and manages approximately 3 million square meters of commercial property.

Operationally, the business area commercial property with a profit of 671.3 million kroner in 2015 to 594.6 million kroner in 2014. Turnover in 2015 at 972.8 million, compared with NOK 787.6 million in 2014.

Finance

Financial operations in OBOS consists of banking and insurance. In 2015 had the financial operations, an operational profit before tax of 113.5 million kroner, compared with NOK 146.4 million in 2014.

Saving Deposits from private customers and housing companies totaled 11.02 billion at year end, compared to 11 , 17 billion the year before. All savings deposits under 2 million was secured in Banks’ Guarantee Fund.

Lending to the private market amounted to 9.34 billion at the end of 2015. The corresponding amount in 2014 was 7.56 billion. This represents a growth of 23.6 percent for the residential market in 2015.

Lending to the corporate market, mainly consisting of residential investments, amounted to 10.26 billion on its balance sheet at year end, compared with 8.06 billion the year before. This represents an increase of 2.19 billion during 2015, an increase of 27.2 percent. Including loan portfolio transferred to oak Boligkreditt AS amounted to rise 14.1 percent.

Property

Second Hand Housing sales going through OBOS Real Estate AS and department for clarification of first refusal. OBOS sold 2,723 homes through these units in 2015. The total turnover for the business area operationally for 163.1 million kroner in 2015, compared with NOK 155.5 million in 2014. Profit before tax amounted to 12.6 million, compared with NOK 21.3 million in 2014.

In OBOS cooperative flats were sold 7,556 homes. The reactions took place through OBOS Estate agents and other brokers. When selling apartments in OBOS-affiliated cooperatives put members first refusal in 32 percent of sales.

Shareholdings

The equity investments in the OBOS group showing an operating profit before tax of 1.24 billion against 777.3 million kroner in 2014. the equity portfolio at year-end market value of 5.69 billion, compared with 4.47 billion in 2014. the largest holdings are in AF Gruppen ASA and Veidekke ASA. OBOS undertook in 2015 sales in both companies. The sale of these shares gave an overall effect in the group of 895.5 million kroner. OBOS is still the largest shareholder in both companies.

OBOS at the end of the year the second largest shareholder in the consulting engineering company Multiconsult, with a stake of 5.24 percent.