OC Industrier AS is a holding company whose activities include owning shares in companies in the Group. Group management is employed by OneCo AS, a subsidiary of OC Industrier AS.\u00a0<\/p>\n
OC Industrier AS is located in Oslo municipality with subsidiaries in Kristiansand, Oslo, Sandnes, Arendal, Bergen and Stockholm. The Group's operational activities are geographically limited to Norway and Sweden.\u00a0<\/p>\n
OneCo's business concept is as follows:\u00a0<\/p>\n
OneCo delivers concepts, services and expertise in electrical engineering<\/i>, automation and <\/i>telecommunications <\/i>as <\/i>builds <\/i>and <\/i>sustainable future and enables the green shift and digitalisation of society. The future is electric and OneCo connects it<\/i>.\u00a0<\/p>\n
OC Industrier operates within six business areas, which are described in more detail in the next chapter.\u00a0<\/p>\n
FO Telecom<\/strong> <\/p>\n\t The core business is related to the operation, maintenance and development of telecoms infrastructure (fixed and mobile) in Norway. FO Telekom had a turnover in 2021 of NOK 2,158 million, which is an increase of 4 % from the previous year. FO Telekom's ambition is to maintain its position as the market leader in Norway within telecoms.\u00a0<\/p>\n\t FO Electrical <\/strong><\/p>\n\t The core business is related to service and projects within electrical and electric power in Norway. FO Elektro had a turnover of NOK 1,433 million in 2021, which is an increase of 24 % from the previous year. FO Elektro's ambition is to be a leading electrical contractor in Norway.\u00a0<\/p>\n\t Business Unit Sweden<\/strong><\/p>\n\t The core business is related to service and projects within telecoms, electrical power and power\/IoT. FO Sweden had sales of NOK 580 million in 2021, a reduction of 11% from the previous year. FO Sweden's ambition is to increase profitability and sales through focused efforts in selected niches. <\/p>\n\t FO Infra<\/strong><\/p>\n\t The core business is related to transport projects (road and rail). FO Infra had a turnover of NOK 292 million in 2021, a reduction of 6 % from the previous year. FO Infra's ambition is to take a clear position as a main contractor within selected market segments and geographies in a market in strong growth.<\/p>\n\t FO <\/strong>Technologies<\/strong> <\/p>\n\t The core business is related to service and projects within security and automation in Norway. FO Technologies had a turnover of NOK 204 million in 2021, a reduction of 3 % from the previous year. FO Technologies' ambition is to become one of the leading players in high-security (electronic and physical) and selected segments within industrial automation.<\/p>\n\t FO <\/strong>Marine and Offshore<\/strong><\/p>\n\t The core business is related to maintenance and modifications within marine and offshore. In 2021, FO Marine and Offshore had a turnover of NOK 94 million, an increase of 57 % from the previous year. FO Marine and Offshore's ambition is to take a leading position as a repair yard with a dock, as well as offering hybridisation and other services related to the green shift. <\/p>\n The Group's operating revenues totalled NOK 4,760 million in 2021, compared with NOK 4,467 million in 2020. The Group's operating profit was NOK 103 million in 2021, compared with NOK -73 million in 2020. The Group's profit before tax was NOK 57 million, compared with NOK -107 million in 2020. The improvement is largely due to operations performing better than in 2020, when acquisitions and mergers had a negative impact on results, particularly in the Electrical Installations business area.<\/p>\n <\/p>\n The parent company's operating income totalled NOK 7.8 million in 2021, with a profit before tax of NOK -3.4 million.<\/p>\n <\/p>\n The cash flow analysis for 2021 shows that, at the end of the period, the Group had cash and cash equivalents of NOK 187.2 million. This is NOK 252.7 million less than in 2020.\u00a0<\/p>\n <\/p>\n Net cash flow from operating activities in 2021 is NOK 37.3 million. Net cash flow from investing activities is NOK -20.9 million.\u00a0<\/p>\n <\/p>\n The Group's current liabilities have been reduced by NOK 466.5 million from 2020, and non-current liabilities have been reduced by NOK 68.9 million compared with last year. last year. At the end of 2021, current liabilities totalled NOK 1,118.7 million, while non-current liabilities amounted to NOK 161.0 million.\u00a0<\/p>\n <\/p>\n Total assets at the end of the year totalled NOK 1,715.7 million, a reduction of NOK 298.4 million from the previous year.\u00a0<\/p>\n <\/p>\n The Group's equity at year-end totalled NOK 424.5 million, an increase of NOK 237 million compared with 2020. In 2021, the Group received NOK 200 million in new equity. The Group's equity ratio at the end of 2021 was 24.7 %, an increase of 15.4 % from the previous year.\u00a0<\/p>\n <\/p>\n The presentation of the company and consolidated financial statements is based on the going concern assumption, and the board of directors confirms that this assumption is present. In the opinion of the Board of Directors, the presented income statement and balance sheet with associated notes provide satisfactory information about the company's and the Group's operations and financial position as at 31 December 2021. Events after the balance sheet date are commented on in a separate section.\u00a0<\/p>\n Overview of objectives and strategy<\/strong><\/p>\n\t The Group's current strategy does not include the use of financial instruments, but this is subject to ongoing assessment. <\/p>\n\t Market risk <\/b><\/p>\n\t The Group is exposed to changes in interest rates, as the company's debt has floating interest rates. Furthermore, changes in interest rates may affect investment opportunities in future periods. The Group is not exposed to significant currency risk, but has both income and expenses in Swedish kronor through our operations in Sweden. <\/p>\n\t Credit risk<\/b><\/p>\n\t The risk of losses on receivables is considered to be low. Historically, the Group has not had any significant losses on receivables. The most significant loss provisions made in the last two years are related to two projects in the Electrical Installations business area, and are thus not related to credit risk. At the end of last year, outstanding trade receivables and earned, uninvoiced income totalled NOK 953 million.<\/p>\n\t Liquidity risk<\/b><\/p>\n\t The company considers the Group's liquidity to be satisfactory. At 31 December, the company had a total of NOK 187.2 million in bank deposits (including tax deductions) and no overdraft facilities. The group's overdraft facility has a limit of NOK 420 million, and the companies in the group are jointly and severally liable for drawings on this facility. In the opinion of the Board of Directors, the company has a healthy financial position and will be able to handle any unforeseen changes, as well as further growth. <\/p>\n The Board considers the working environment in the parent company and the Group to be good. In the autumn of 2021, a Group-wide employee survey was carried out that showed a high level of job satisfaction, a high level of trust between management and employees and a low turnover intention.<\/p>\n <\/p>\n There have been 60 injuries with absence beyond the day of injury in 2021. Most of the injuries have had injury absence of less than 3 days. Falls in rough terrain are the biggest cause of absence due to injury, along with minor cuts and crush injuries. A Group-wide HSE network has been established to propose measures to reduce the number of injuries. In addition, injuries, undesirable incidents and near-accidents are fixed agenda items in the AMU in the respective business areas.\u00a0<\/p>\n <\/p>\n Sickness absence for the Group in 2021 totalled 5.0 %, of which short-term absence accounted for 2.4%. Sickness absence is slightly below the industry average.<\/p>\n <\/p>\n The total proportion of women in the Group is 9 %. There are 13 % female managers with responsibility for personnel and results. At the end of 2021, Group management (corporate staff + business area managers) consisted of 1 woman and 12 men. The Group Board consists of 5 men.\u00a0<\/p>\n <\/p>\n There is a low level of part-time work in OneCo. At the end of the year, 16 women and 44 men were working in reduced positions. Part-time work is carried out at the initiative and request of the employee and in consultation with the manager. There is occasionally a need for a reduced position in connection with illness as part of temporary organisation measures. Job reductions have also been carried out to a very limited extent as an alternative to dismissal in downsizing processes. Part-time work is not considered to be a problem in the Group.\u00a0<\/p>\n <\/p>\n OneCo makes little use of temporary positions and, at the end of the year, less than 2 % of our employees were on temporary contracts. Temporary positions are used, among other things, in connection with particularly high workloads or when holidays are taken, mainly for administrative positions, and school pupils or students are often used in this work.\u00a0<\/p>\n <\/p>\n At the end of the year, the Group had 2,840 employees, including 257 women. An increase in the proportion of women among our employees will make a positive contribution to the working environment, results and quality of our deliveries. A better gender balance will contribute to a strengthened reputation and increased attractiveness as an employer for both genders. Our experience is that both genders master the profession equally well, and OneCo wants to help visualise the industry as an attractive industry for both genders.\u00a0<\/p>\n <\/p>\n The equal pay overview shows that women earn on average 89 % of men. The lowest pay gap is in operational positions. Please refer to the Group's equal pay report for more details, which is available at www.oneco.no.\u00a0<\/p>\n OneCo distances itself from any form of discrimination, whether based on gender, age, race, religion or other factors. OneCo works actively for an inclusive and health-promoting working life where none of our employees - or others who perform work for OneCo - should experience harassment, bullying or negative attention. In our employee survey, 2 % of our employees state that they have experienced bullying or harassment in the past three months, compared with 5% in the labour market in general. Measures have been implemented locally<\/p>\n <\/p>\n A large volume of our positions require good physical fitness and a strong body to cope with everyday tasks such as heavy lifting and demanding working positions over time. In addition, good hearing and eyesight are essential to avoid dangerous situations on construction sites. This affects our ability to employ people with disabilities in operational positions. In mercantile positions, this will be easier to achieve and we will, as far as possible, accommodate people who are temporarily or permanently disabled due to illness or injury.\u00a0<\/p>\n <\/p>\n OneCo does not keep statistics on ethnicity and the number of people with other national origins cannot therefore be quantified, but the proportion of employees with other nationalities is assumed to reflect the level in the population as a whole - or somewhat higher.<\/p>\n <\/p>\n Reference is also made to the Group's report on diversity, equality and discrimination, which is available at www.oneco.no.<\/p>\n Our CO2 emissions for 2021 are 11,537 tonnes, a decrease of 9 % from the 2020 baseline in our climate accounts. Emissions from our fossil-fuelled vans account for the majority of our greenhouse gas emissions. Switching to electric vans will make a positive contribution to reducing our climate footprint, together with other measures that have been or will be implemented. Through our adherence to SBTi and the GHG protocol, we have committed to reducing our own greenhouse gas emissions by 50% by 2030. We are confident that we will reach this target well before 2030. A full overview of our sustainability work, including the reduction of greenhouse gas emissions, can be found in our sustainability report, which is available at www.oneco.no.<\/p>\n The parent company, OC Industrier AS, has taken out directors' and officers' liability insurance that covers all subsidiaries. The insurance is on market terms. The insurance covers the insured party's liability for property damage, including personal liability for the Group's debts, arising from claims made against the insured party as a result of a liable act or omission in the insured party's capacity as CEO, board member, member of management, de facto director, shadow director or employee of the Group who may incur independent management liability. <\/p>\n With regard to the Group's future development, the business will depend, among other things, on macroeconomic conditions. At the time of publication of the Group's annual accounts, both the Norwegian and Swedish economies are characterised by high levels of sickness absence as a result of the coronavirus pandemic, and according to the authorities it is uncertain when this will be reduced. Demands for increased purchasing power in wage settlements, as well as the war in Ukraine, also add some uncertainty to the outlook for 2022. <\/p>\n <\/p>\n Through its operations, OneCo is well positioned in areas that are positively affected by the green shift and increased digitalisation in society. A large part of the Group's business is related to infrastructure that is considered critical to society in the areas of electrical, electric power, transport and telecommunications. For the Electrical, Infra and Technologies business areas, the situation in 2022 in terms of market development and order intake is better than at the start of 2021. For the Telecoms business area, a decline in the total market is expected in 2022. OneCo is well positioned in the various market segments (fixed and mobile), and the decline for OneCo is therefore expected to be lower than for the total market. For the business areas Sweden and Marine and Offshore, revenue is expected to be approximately at the same level as in 2021.<\/p>\n <\/p>\n In 2021, several initiatives were implemented to improve the Group's profitability, including a revision of the strategy for the business areas and for the Group as a whole. The Board therefore expects increased earnings in 2022 as a result of the measures implemented in the various business areas. The Board would like to emphasise that there will always be uncertainty associated with expectations of future developments, but that expectations for 2022 are characterised by optimism.<\/p>\n No circumstances have arisen after the end of the financial year that, in the opinion of the Board of Directors, are of significance when assessing the financial statements. Nor are the Board of Directors aware of any other matters that are important for assessing the company's position and results that are not disclosed in the income statement, balance sheet, cash flow statement and notes.<\/p>","protected":false},"featured_media":0,"parent":1807,"menu_order":0,"template":"","format":"standard","categories":[],"class_list":["post-4692","rapporter","type-rapporter","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\n\n\t\tExplanation of the financial statements\n\t<\/h2>\n\t
\n\t\tFinancial risk\n\t<\/h2>\n\t
\n\t\tWorking environment and gender equality\n\t<\/h2>\n\t
\n\t\tDiscrimination\n\t<\/h2>\n\t
The gender balance in OneCo is highly skewed and this in itself is a risk of discrimination. We have therefore set a Group-wide KPI to increase the number of female employees, both through new recruitment and through reduced turnover among women. Together with a number of other measures that will be implemented in 2022, we believe this will reduce the risk of discrimination based on gender.<\/p>\n\n\t\tExternal environment\n\t<\/h2>\n\t
\n\t\tInsurance for board members and the CEO \n\t<\/h2>\n\t
\n\t\tFuture development\n\t<\/h2>\n\t
\n\t\tEvents after the balance sheet date\n\t<\/h2>\n\t