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Financial information

On this page you will find financial highlights about The Olav Thon Group. You can also download full annual and half-yearly reports.

En gruppe mennesker som sitter ved et bord


Highlights in the Annual Report 2023:

Operating income

  • Total operating income amounted to NOK 13,625 (12,184) million.


  • Profit before income tax was NOK -4,359 (4,300) million.
  • Fair value adjustments of investement propterty and financial instruments amounted to NOK -8,337 (364) million.
  • Profit before income tax, fair value adjustmenst/depreciation and currency result amounted to NOK 4,332 (3,918) million.

Financial position

  • The Group’s equity at year end amounted to NOK 64,500 (67,758) million
    and its equity ratio was 56% (57%).
  • The Group’s loan-to-value ratio was 27% (27%).
  • Total liquidity reserves were NOK 10,731 (10,382) million.

Property Portfolio

  • The rental income level in the property portfolio at the end of 2023 was
    NOK 6,900 (6,140) million and the vacancy rate was 4.4% (4.4%).

Shopping Centre Retail Sales

  • Retail sales in the shopping centre portfolio owned by the Group amounted
    to NOK 79.6 (74.6) billion. At year end, the Group owned 71 shopping
    centres and managed 17 for other owners.

Thon Hotels

  • At year end, Thon Hotels had 14,057 (13,386) rooms in 94 (89) hotels in
    Norway and abroad.