Share slam for Aksel Lund Svindal – lost 15 mill.

Aksel Lund Svindal’s wholly owned holding company, A Holdings, suffered a loss of just over NOK 15 million in 2020. This is shown in the accounts for last year. Over time, Svindal has hoarded shares in a number of companies and most of these are now in A Holdings, a company that was established in 2020.

At the end of the year, A Holdings had an equity portfolio with a market value of NOK 121.6 million. The most valuable shareholding today is in the video conferencing company Pexip, where Svindal owns shares worth NOK 53 million. He also owns shares in the Euronext Growth company Deep Value Driller, worth NOK 7.6 million.

Svindal was one of Norway’s best alpinists of all time. In his active career from 2002–2019, he won a total of 13 medals in the Olympics and the World Cup, of which seven gold, according to Store Norske Leksikon. Of Norwegian alpinists, only Kjetil André Aamodt has taken more.

Eaten up

The acquisition cost for the shares in the holding company was NOK 132.6 million. The accounts show that the former top alpinist’s company had a financial income of just over three million kroner. But this was more than eaten up by the share price of NOK 11 million and a financial cost of more than NOK 7 million.

In an email to DN, Bjørn O. Svindal, the former top alpinist’s father and business partner, writes that about half of the losses are realized losses.

– The other half is a write-down of shares assessed as current assets, Svindal writes.

About the shareholding in Pexip, he writes:

– We have great faith in Pexip.

According to the tax figures for 2019, Lund Svindal had a fortune of NOK 162.4 million. Lund Svindal also has several investments in companies that are not listed on the stock exchange, as well as real estate, so the real values ​​are probably higher.

Svindal is himself chairman of the board of A Holdings, while his father Bjørn O. Svindal is a board member. DN has not succeeded in getting any comment from Aksel Lund Svindal.

Founder factory

Svindal earned well with prize money throughout his career. In addition, he reached out to sponsorship agreements with, among others, Red Bull. He did not wait for retirement to put them to work. In 2015, he helped establish the entrepreneurial factory Norselabs, a company that invests in early-stage companies. Last autumn, state-owned Investinor invested NOK 100 million in the entrepreneurial factory.

Lund Svindal has become known as an investor with a heart for start-up companies. In connection with Investinor joining Norselabs, Lund Svindal described his approach to investments in the following way to DN:

– The team is number one for me. Of course, there are many analyzes you can do – sit and study numbers and graphs on screens or try to interpret how unemployment figures in the US turn out right now – but I do not think it’s that cool. “I think it’s cooler to meet people,” he said.

– Is this a gang that will really make it happen, I wonder. What they are going to do is of course absolutely essential, but do you have a good idea and no team? Absolutely no chance, he added.

In addition to the shares in Pexip and Deep Value Driller, Svindal’s holding company has shares in Aprila Bank, Maritime & Merchant Bank, Sparebank 1 Østfold Akershus, On & Offshore Holding and Ice Group. He also owns 100 percent of the company A Management as, which has not yet delivered results for 2020.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We want you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For further terms see here.

The post Share slam for Aksel Lund Svindal – lost 15 mill. appeared first on Newsy Today.

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