English summary

Olav Thon Group posted a solid profit again in 2017 and achieved year-on-year profit growth.

HIGHLIGHTS OF THE GROUP'S ANNUAL REPORT

OPERATING INCOME


Olav Thon Group's operating income amounted to NOK 10,935 (10.172) million.

 

PROFIT



Profit before tax was NOK 2.314 (1.668) million.

 

EQUITY


Book equity increased to NOK 16.173 (14.557) million, while the equity ratio was 30% (28%). 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 5.450 (5.275) million, while the vacancy rate was 2,5% (3%).

 

SHOPPING CENTRE SALES


Retail sales for the shopping centre portfolio owned by the Group increased by 1,45 % to NOK 67.0 (66.0) billion. At the end of the year, the Group owned 79 shopping centres and managed 30 for other owners.

 

THON HOTELS


At the end of the year, Thon Hotels had 11.338 rooms in 80 hotels in Norway and abroad.

 

LIQUIDITY RESERVE


The Group's liquidity reserve ended the year at NOK 12.283 (7.173) million.