Key figures 2013
Record profit in 2013
In 2013 Sundt had an after tax profit of NOK 514 million against NOK 270 million in 2012. The net asset value increased with NOK 1.2 billion, 26.5 percent, to a total of NOK 6 billion.
Sundt consists of the holding companies Helene Sundt AS, CGS Holding AS, and the investment company Sundt AS. The focus is on long term investments and infrastructure. The hotel property company Pandox, Sundt’s largest investment, amounted to NOK 611 million alone of last year's increase in net asset value.
"2013 was a good year for Sundt," says CEO Leiv Askvig, who has the main responsibility for managing the assets of owners Helen and Christian Sundt. He explains the results with a strong development in financial and real estate investments, which alone contributed with NOK 420 million, against minus 16 million in 2012.
"We experience the same fluctuations as every financial investor, but our base capital enables us to operate with a long-term focus. At the same time we have the opportunity to increase our commitment and create values," says Askvig.
Jacob Iqbal is in charge of Sundt’s equity portfolio.
"Web browser company Opera Software turned out to be an especially good investment in 2013. We had an adjusted return of 78 percent on our total equity portfolio," says Iqbal.