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After two years of losses, Trond Moen’s investment firm posted strong growth last year.
Ship sales, value increases and lower finance costs make 2023 a good year for Trond Mohn’s private investment company Meteva AS.
The final annual result was more than NOK 867 million.
The deficit doubled in 2021 compared to the previous year’s deficit of NOK 723 million, all as a result of a large negative adjustment.
The Bergen-based investor, who is known for his gift-giving, gave away 415 million Norwegian crowns last year, annual accounts show. That’s nearly 48 percent of profits.
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– Very happy
It is also three times that of 2022, and the company is making a loss.
The gift record was set in 2019 when Bergen billionaire Loss of DKK 812 million For charitable purposes.
Investors are particularly fond of donating to grassroots sports, research and hospitals.
– I will give more in the future. Giving is a great pleasure and I encourage other wealthy people to do the same,” Moen joined VG in December last year.
Receive dividends
But not everything will be abandoned.
Of last year’s profit of NOK 867 million, more than NOK 452 million was transferred to the company’s equity.
It appears that Moen allocated himself a dividend of NOK 49.9 million.
Strong financial performance
Meteva’s operating income of NOK 71.4 million was related to sales gains from the Island Champion vessel sold at the beginning of the year, Moen wrote in the annual report.
As the group is primarily engaged in investment activities, financial performance compared to the previous year is a measure of progress.
In 2023, the Group’s financial result was NOK 815 million, compared to a deficit of NOK 712 million in the previous year. Meteva AS’s revenue was NOK 806 million (-717).
The group’s annual result was NOK 877 million (-723).
The group’s equity capital stood at nearly NOK 3.2 billion at the end of 2023, up from nearly NOK 2.8 billion the previous year.
Booking is lower
On paper, Meteva’s market shares and mutual funds had a book value of nearly NOK 1.4 billion at the beginning of the year, close to the acquisition value.
The amount booked for the market bond was NOK 15.9 million and the acquisition cost was said to be more than NOK 860 million.
On the other hand, other investments in financial current assets amounted to slightly more than NOK 1.4 billion, and acquisitions were valued at nearly NOK 2.1 billion.
At the beginning of the year, total investments amounted to more than NOK 4.3 billion, with receipts of NOK 2.8 billion.
Sold the family business
capital Moen’s wealth is estimated at NOK 6 billion at the end of 2023, while investors have donated a total of more than NOK 5 billion to charitable purposes.
Wealth comes largely from Family business and pump manufacturer for sale Acquired by Frank Mohn AS in 2014 for $13 billion.
The sale resulted in Open conflict The relationship between Trond Mohn and his son Frederik Mohn.
The conflict continued until 2014when the son was bought outand The dispute was resolved. Since then they have two Among other things, cooperation on real estate projects.
– I think we have reconciled, and that feels good, added Moen Virginia last year.
Frederik Mohn invested much of his father’s inheritance in the drilling rig market and is now one of Transocean’s largest shareholders. capital His wealth was estimated at 8.7 billion kronor at the beginning of the year.
Honorary Doctorate
Over the past decade, Trond Mohn has donated billions of kronor to charity.
He also fell behind Trond Moen Research Foundationwho have made substantial donations to research projects at the University of Bergen and Bergen Health Centre, as well as at the University of Tromsø.
Maughan also holds honorary doctorates from both universities.
“I have great respect for our researchers and would compare them to top athletes. They work long hours, are focused and are a pleasure to work with. It is a great privilege to contribute to the research they are able to carry out,” adds Moen. Virginia Last December.
Donations in 2014 Trond Mohn, Marit Mohn and Frederik Mohn NOK billion The foundation was then called the Bergen Research Foundation.
The investor has not responded to E24’s inquiries so far on Tuesday.
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