Reitan’s result was billions worse than 2021
Photo: Ole Martin Wold/NTB
Reitan AS’s result for 2022 before tax ended at 1.9 billion compared to 5.6 the previous year.
For all of Reitan’s operations, total turnover was NOK 130 billion and pre-tax profit NOK 1.9 billion, writes The online newspaper.
The company thus increased its total turnover compared to the previous year, which was 115 billion. At the same time, profit before tax has thus been reduced from NOK 5.6 billion in 2021 to NOK 1.9 in 2022.
Last year’s result was affected by the turmoil in global markets. Reitan therefore has a write-down of real estate and financial investments of more than NOK 2 billion, the newspaper writes.
– As long as the underlying operation is as good as it is, I have a very relaxed relationship with a much worse outcome. Because it’s about paper losses on stocks and property, which we don’t intend to sell, says founder Odd Reitan at MN24.
The Reitan Group mainly operates in commodity trading, real estate and investment. The group operates, among others, Rema 1000, Narvesen, 7-Eleven and the YX petrol station chain in Norway, as well as several other supermarket and petrol station chains in the Nordic countries.
(© NTB)
