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2013 Highlights 

Olav Thon Eiendomsselskap again experienced good development in 2013.

  • Pre-tax profit rose by 27% to NOK 2,138 million.

  • The share price rose by 20% to a closing price of NOK 1,070, and the shares therefore gave a total return (including dividend) of 22%.

  • Equity per share increased by 14% to NOK 1,209.

  • The property operations were characterised by increases in property values and rental income. The value of the Group's property portfolio increased by 8% to NOK 33.0 billion, and the annual rental value for the property rose by 7% to NOK 2.3 billion. The vacancy rate in the property portfolio was maintained at 2%.

  • Turnover in the Group's shopping centre portfolio owned by the Group increased by 6% to NOK 38.8 billion.At the year-end, the Group had 60 shopping centres and managed 27 shopping centres for external owners.

  • Financially, development was characterised by an increase in interest-bearing debt by 6% to NOK 15,178, while the loan-to-value ratio fell to 46%. The Group's average interest rate fell to 4.61%.