Thursday, July 28, 2016

Frederik Wilhelm Mohn lost 1.5 billion. On stock speculation – OBI Online

Frederik Wilhelm Mohn lost a half billion kroner at the foreign shares of the investment company Perestroika. Nevertheless, he takes out NOK 150 million in dividends, writes Dagens Næringsliv.

According to the newspaper had overseas listed shares purchased for 2.74 billion shrunk to 1.25 billion by the end of 2015.

– I have no comments on the financial statements. Things go up and down, says Mohn, and does not wish to comment on what he will use the proceeds to.

Book equity was still 6.1 billion at the end of the year, only marginally down from 6.4 billion the previous year. The reason is the newspaper said that investment in the rig company Songa in 2015 was recorded at historical cost at 1.7 billion. The year before, the value of Songa shares set at 648 million.

Songa share price has fallen by over 60 percent since January.

Revenue in Perestroika fell in 2015 by over 50 percent from 6334 million to 2729 million. On the bottom line the company ended last year with a deficit of 3.060 million, down from a profit of 3.666 million in 2014.

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