Olav Thon Gruppen - Årsrapport 2015 - <big><span style="color:#1a388a">English summary</span></big>

English summary

Olav Thon Group posted a good profit for 2015 which, despite increased expenses linked to the modernisation of the hotel portfolio, was on a par with the profit posted last year.

HIGHLIGHTS OF THE GROUP'S ANNUAL REPORT

OPERATING INCOME


Olav Thon Group's operating income amounted to NOK 9,383 (8,788) million.

 

PROFIT



Profit before tax was NOK 1,667 (1,681) million.

 

EQUITY


Equity increased to NOK 13,382 (11,683) million, while the equity ratio was 29% (27%). The net asset value is considered to be significantly higher.

 

PROPERTY PORTFOLIO


The property portfolio's rental income at the end of the year was NOK 4,900 (4,560) million, while the vacancy rate was 2% (2%).

 

SHOPPING CENTRE SALES


Retail sales for the shopping centre portfolio owned by the Group increased by 8% to NOK 61.7 (57.2) billion. At the end of the year, the Group owned 76 shopping centres and managed 31 for other owners.

 

THON HOTELS


At the end of the year, Thon Hotels had 11,482 rooms in 78 hotels in Norway and abroad.

 

LIQUIDITY RESERVE


The Group's liquidity reserve ended the year at NOK 6,892 (7,783) million.

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