Improved market situation and good operating efficiency
2009 was a good year for BWG Homes. After a very demanding 2008, the negative trend was broken and the external conditions for the Company’s operations took a positive turn. The housing market gradually improved during the year, and with good operating efficiency in all areas of the Group, BWG Homes was once again able to achieve satisfactory sales, margins and profitability.
In 2009, BWG Homes achieved a turnover of NOK 2 534 million and earnings before finance and depreciations (EBITDA) of NOK 274 million. Earnings before finance (EBIT) amounted to NOK 250 million, while earnings before tax was NOK 117 million. Earnings per share was NOK 0.96.
Strategic direction
- BWG Homes will generate good profita-bility with moderate risk by owning and developing leading residential builders. The
- Group’s companies will be leaders and represent strong brands in their markets.
- The Group will strive to achieve con-trolled organic growth by maintaining good profit margins.
- By giving priority to its own housing projects outside large urban centres and populated areas, BWG Homes seeks to achieve a more stable earnings trend than general market fluctuations might indicate.
- BWG Homes prioritises profitability and quality ahead of short-term top-line growth.
- Systematic training, development opportunities, good profitability and market alignment mean that BWG Homes is able to offer attractive and stable workplaces.
- BWG Homes will take an active role in consolidation processes in the Nordic market.
- Dividends to the Company’s shareholders will be an area of particular focus. The target is to pay between 50 and 70 per cent of profit in dividends to shareholders. A dividend is proposed if in the Board’s view it will not have an adverse impact on BWG Homes’ Group’s future growth ambitions or capital structure.
