Bonum doubled last year
Bonum delivered at group level a turnover of 581 million kroner with an operating profit of 107 million kroner. With this, the company lands well within
Bonum AS doubled turnover again this year and achieved an annual profit of 95 million kroner
Bonum delivered at group level a turnover of 581 million kroner with an operating profit of 107 million kroner. With this, Bonum lands well within its own target of doubling turnover, says Thomas Bergum Bø, managing director and partner at Bonum AS.
Are you satisfied with the development and the figures for 2016?
Yes, now you are referring to Bonum's consolidated accounts. This does not show the whole picture either at the top or bottom. The actual turnover is not shown until the property is sold to the end user and is thus a poor measure in the way Bonum operates today. Bonum has sold property and property portfolios to a value of approximately double that in 2016. Some of the projects have also been done in collaboration with investors where Bonum has not owned the entire project itself, answers Bergum Bø.
What challenges are greatest in the phase you are in now, and what are the goals for 2017?
The biggest challenges in the growth are behind us, and Bonum is now at a level we are comfortable with. Bonum has taken the step up to larger projects and we concentrate primarily on 50 plus units and our signature projects, he says and continues: "As for the target, it is clear, Bonum shall double the 'land bank' to 10 billion kroner in realisation value during 2018."
What do you think about the market going forward and what will it mean for you?
It will be exciting to see what happens with the market in the second half. That we shall come down from the peak is hardly a secret, but as long as the fundamental conditions in the Norwegian economy are good and interest rates remain low, the downturn will probably be short-lived, this time too. For our part, the short-term aspect does not matter so much, as our projects are long. But should there be a sudden and prolonged decline, it is naturally negative for most in real estate, also for Bonum. We do not believe that will happen and rather hope that opportunities will open up as the market comes in to a hopefully soft landing, he says.
