Billion profit and triple turnover for Frederick Mohn

Billion profit and triple turnover for Frederick Mohn

Accounts for 2023 showed another $1 billion profit for Frederik Mohn of NOK 1.5 billion before taxes. Slightly down from 1.7 billion in 2022.

Perestroika generated operating profits of 847 million, almost three times what it was in 2022. Although operating profits have tripled since 2022, the annual profit is down from the previous year. This came as a result of a significant decrease in financial income.

Perestroika Group shares rose from NOK 5.5 to NOK 7 billion. Operating cash flow ended at NOK 645 million.

(million Norwegian krone) 2023 2022
Run result 846.7 309.8
Result before taxes 1,499.2 1,711.6
Result after tax 1,495.7 1,709.0
justice 6,973.0 5,523.9
religion 666.2 586.2

He bought a lot of Swedish real estate

One sector that Frederick Mohn has bought a lot of stock in over the course of the year is real estate.

Earlier this year, Finansavisen wrote about big gains in Mohn's real estate stocks, which weighed very well on Selvaag Bolig and JM. He still owns 3.4 million shares in Selvaag Bolig and 2.4 million shares in JM. This corresponds to a total value of approximately NOK 577 million.

The investor has also bought Swedish company Bonava. He owns 13.8 million shares, which is equivalent to about 115 million shares.

Lately, the party has certainly slowed down somewhat, with the prices of a number of real estate stocks falling over the past month. Bonava stock fell about 15 percent, and JM stock fell more than 7 percent. Selvaag Bolig fared somewhat better and was down nearly 4 percent.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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