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With sales of more than NOK 1.7 billion, 2019 became a record year for Stangeland.
From left, Stangeland Group CEO Olav Stangeland, Stangeland Maskin CEO Tommy Stangeland, CFO Egil Bue and CFO Jan Klingsheim, both Stangeland Group. Photo: Stangeland
In 2019, Stangeland Maskin had sales of just over NOK 1.7 billion and a pre-tax gain of NOK 102 million. This is what the group writes in a press release on Wednesday.
The Stangeland Group, which includes, among other things
Construction, crane, environment and recycling, real estate and finance, during the same period had a turnover close to NOK 2.5 billion and a pre-tax profit of NOK 199 million. Including the private interests of the Stangeland family, the total result for the year exceeded NOK 330 million.
tax.
– A very good year, says CEO Olav Stangeland. He emphasizes the long-term focus on all the businesses the group engages in, and believes that the strength that has built up over many years is due in part to investments in industries of which they have knowledge and experience.
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53 million in taxes
The Stangeland Group, which has a total of 960 employees and interests in almost 80 companies, approved NOK 1 billion in shareholders’ equity last year. Solid results also bring great value to the community. The Group’s taxable income for 2019 is close to NOK 53 million.
– Overall, this was a record year for us. We are very pleased with the turnover and earnings of the operating companies, not least considering a somewhat heavy market with some overcapacity, says CFO Egil Bue in the press release.
The group also delivered good results in finance and real estate in 2019.
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– Prepared for uncertainty.
Stangeland Maskin CEO Tommy Stangeland says the goal for the current year is full employment and cost control.
– At the same time, we are prepared for the uncertainty regarding the pandemic, as well as the large projects that are still pending. In such a situation, it is very important to have a solid spine. Regardless of the market, we want to be the employer and partner of choice, Stangeland says.
In 2019, the Group invested NOK 200 million in new equipment, otherwise, an amount similar to the previous year.
