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The Olav Thon Group: Half Year Report 2024

The board of the Olav Thon Group presents the half year report for 2024.

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Highlights of the half year report1:

  • The Olav Thon Group posted profit before tax of NOK 1 304 (94) million.
  • Fair value adjustments of property and financial instruments (including joint ventures/associates) totalled NOK -701 (-1 743) million 2.
  • Profit before tax, fair value adjustments/depreciation and currency result amounted to NOK 2 063 (2 216) million 2.
  • The Group’s financial position is solid. At the end of H1, its equity ratio was
    56 % (57 %), while its liquidity reserves were NOK 12 654 (10 425) million.
  • The shopping centre portfolio owned by the Group had retail sales of NOK 29 745 (28 461) million in Norway, and SEK 7 398 (6 853) million in Sweden.
  • The annual rental income level in the property portfolio was NOK 7 320 (6 560) million and the vacancy rate was 3,7 % (3,8 %).
  • At the end of H1, Thon Hotels had 13 893 (13 887) rooms in 94 (93) hotels in Norway and abroad.

1) The report for H1 2024 has not been prepared in compliance with the requirements in IAS 34. The figures in brackets are for the corresponding period last year. (Certain 2023 figures might be changed as a result of changed calculation method).

2) Taxes in joint ventures and associated companies included.