Investment Companies Sundt got a surplus of seven billion in 2015. Net asset value rose from 7.7 billion to 13.7 billion, a return of 80 percent.
Net profit for the group was 6.968 million against 974 million in 2014 (adjusted). The return on equity was 80 percent (6 billion) versus 29 percent (1.7 billion) in 2014.
Extraordinary
Sundt, who poses holding companies Helene Sundt aS, CGS Holding aS and Sundt aS, was with Eiendomsspar aS owned hotel company Pandox which was listed in 2015.
– the extraordinary result is mainly due to the realization and highlighting the values that have built up over 13 years in the Swedish hotel company Pandox, says CEO Leif Askvig of Sundt in a message.
Pandox is after IPO still Sundts largest investment with a stake of around 30 percent.
dividends and bonus
After the extraordinary record result was approved dividends totaling one billion kroner for the purpose of long-term private liquidity and to avoid double taxation on interest income.
– These funds are placed in bank deposits and can be reinvested in the Sundt companies, says Askvig. After dividends lay net asset value of 12.7 billion.
Leiv Askvig received in 2015 a total of 78 million in salary and benefits, where 75 million, constitutes bonus. The agreement on the bonus is based on the long-term value growth for companies.
Decline in 2016
The figures for the first quarter of 2016 shows a decrease in value of around 700 million.
– mainly due to falling share price in Pandox and a stronger krone. The companies’ other investments have had a positive performance during the quarter, says Askvig in message
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