Key figures 2014

 
 

2014 SUMMARIZED

-       Profit of NOK 1.1 billion
-       Net asset value increased with 29 percent, to NOK 7.7 billion
-       21 percent value increase on equity portfolio

P/L
Sundt, consisting of the holding companies Helene Sundt AS, CGS Holding AS and the investment company Sundt AS, had an after tax profit of NOK 1120 millions against NOK 514 millions in 2013. The net asset value increase was 29 percent (NOK 1700 millions) against 26.5 percent (NOK 1200 millions) in 2013.

PANDOX
Pandox AS, owned 50/50 together with Eiendomsspar, had income from rent in 2014 at SEK 1729 millions, and a cash flow of SEK 888 millions. Pandox did not aquire any new hotels in 2014, but sold 14 hotels in Sweden and one in the UK for a total of SEK 2700 millions with a profit of SEK 900 millions. Pandox paid dividend of SEK 890 millions to Sundt and Eiendomsspar.

EQUITY PORTFOLIO
The market value of the equity portfolio increased with 21 percent and was at years end around NOK 1 billion.

AIRCRAFTS
Sundt’s commitment in aircraft related business had a profit of around NOK 25 millions, where the main contributions came from Norwegian Special Mission AS (68 percent ownership) with NOK 14 millions and Sundt Air with NOK 5 millions.