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's revenue in 2022 totalled NOK 2,162 million, which is approximately the same level as last year. FO Telekom's ambition is to maintain its position as the market leader in Norway within telecoms. <\/p>\n\t FO Electrical <\/strong><\/p>\n\t The company's core business is related to service and projects within electrical, electric power and renewable energy in Norway. FO Elektro had a turnover of NOK 1,574 million in 2022, which is an increase of 10 % from the previous year. FO Elektro's ambition is to be a leading electrical contractor in Norway. <\/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. In 2022, FO Sweden's sales totalled NOK 589 million, a reduction of 2 % from the previous year. FO Sweden's ambition is to increase profitability and sales through focused efforts in selected niches.\u00a0<\/p>\n\t FO Infra<\/strong><\/p>\n\t The core business is related to transport projects (road and rail). In 2022, FO Infra had a turnover of NOK 256 million, a reduction of 12 % 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 242 million in 2022, an increase of 19 % 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>Ocean<\/strong><\/p>\n\t The core business is related to maintenance and modifications within Marine and Offshore. FO Ocean had a turnover in 2022 of NOK 119 million, an increase of 27% from the previous year. FO Ocean'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 4,942 million in 2022, compared with NOK 4,760 million in 2021. The Group's operating profit was NOK 122 million in 2022, compared with NOK 103 million in 2021. The Group's profit before tax was NOK 103 million, compared with NOK 57 million in 2021. The improvement is largely due to lower depreciation, amortisation and impairment losses in 2022, as well as a significant reduction in financing costs as a result of the changed capital structure.\u00a0<\/p>\n The parent company's operating revenues totalled NOK 7.2 million in 2022, with a profit before tax of NOK 84.4 million. The result is positively affected by group contributions received from subsidiaries.\u00a0<\/p>\n The cash flow analysis for 2022 shows that, at the end of the period, the Group had cash and cash equivalents of NOK 249.8 million. This is NOK 62.6 million more than in 2021.\u00a0<\/p>\n Net cash flow from operating activities in 2022 is NOK 189.5 million. Net cash flow from investing activities is NOK -14.9 million.\u00a0<\/p>\n The Group's current liabilities have increased by NOK 92.7 million from 2021, and non-current liabilities have increased by NOK 44.6 million compared with last year. last year. At the end of 2022, current liabilities totalled NOK 1,222.8 million, while non-current liabilities amounted to NOK 204.4 million.\u00a0<\/p>\n Total assets at the end of the year totalled NOK 1,798.6 million, an increase of NOK 82.9 million from the previous year.\u00a0<\/p>\n The Group's equity at year-end totalled NOK 370.4 million, a reduction of NOK 54.1 million compared with 2021. In 2022, the Group paid an additional dividend of NOK 140.4 million. The Group's equity ratio at the end of 2022 was 20.6 %, a reduction of 4.1 % from 2021.\u00a0<\/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 accompanying notes provide adequate information about the company's and the Group's operations and financial position as at 31 December 2022. 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 that have been made in recent years are related to projects within the Electrical Installations business area, and are thus not related to credit risk. At the end of 2022, outstanding trade receivables and earned, unbilled revenue totalled NOK 1,063 million.\u00a0<\/p>\n\t Liquidity risk<\/b><\/p>\n\t The company considers the Group's liquidity to be satisfactory. The group's overdraft facility has a limit of NOK 350 million, and the companies in the group are jointly and severally liable for drawings on this facility. At 31 December, the company had a total of NOK 249.8 million in bank deposits (including tax deductions) and no drawings on the overdraft facility. Available liquidity at 31 December thus totalled NOK 549.8 million. In the opinion of the Board of Directors, the Group 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 2022, 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. Compared with the corresponding survey conducted in 2021, there is a slight improvement in most areas.\u00a0<\/p>\n There have been 45 injuries with absence beyond the day of injury in 2022. Most of the injuries had an absence of less than 3 days. Falling injuries represent the most injuries, along with minor cuts and crush injuries. Injuries, undesirable incidents and near-accidents are fixed agenda items in AMU in the respective business areas.\u00a0<\/p>\n In the autumn of 2022, a Group-wide digital HSE campaign was conducted with a focus on IT security. The campaign was part of National Security Month.<\/p>\n Sickness absence for the Group in 2022 totalled 6.1 %, of which short-term absence accounted for 1.8 %. Sickness absence is slightly above the industry average.\u00a0<\/p>\n The total proportion of women in the Group is 9.6 %. There are 14 % female managers with responsibility for personnel and results. At the end of 2022, Group management (corporate staff + business area managers) consisted of 1 woman and 9 men. The Group Board of Directors consists of 5 men.\u00a0<\/p>\n There is a low level of part-time work in OneCo. At the end of the year, 16 women and 56 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 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 At the end of the year, the Group had 2,862 employees, 273 of whom were 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 The equal pay overview shows that women earn on average 99 % of men. The lowest salary difference is in operational positions, while the greatest difference is at management level. Reference is also made to the Group's report on diversity, equality and discrimination, which is available at www.oneco.no. <\/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.\u00a0<\/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.<\/p>\n The gender balance in OneCo is highly skewed and this in itself is a risk of discrimination. The target of 12% women by 2024 will probably not be reached.\u00a0<\/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.\u00a0<\/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 Emissions from our fossil-fuelled vans account for the majority of our own greenhouse gas emissions. The transition to electric vans contributes positively to a reduced climate footprint. We have not phased in as many electric vehicles as planned in 2022 due to delivery problems with our suppliers. This seems to have been resolved by the end of 2022 and we will continue the phase-in as planned in 2023.\u00a0<\/p>\n Through our adherence to SBTi and the GHG Protocol, OneCo has committed to reducing its greenhouse gas emissions by 50 % by 2030. A complete overview of our sustainability work, including our climate accounts, can be found in our Sustainability Report, which is available at\u00a0<\/p>\n www.oneco.no.\u00a0<\/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, due to claims made against the insured party as a result of a liable act or omission in the insured party's capacity as general manager, board member, member of management, \"<de facto director", "<shadow director" or employee of the Group who may incur independent management liability.\u00a0<\/p>\n With regard to the Group's future development, the business will depend, among other things, on macroeconomic conditions. At the time of presenting the consolidated financial statements, both the Norwegian and Swedish economies are characterised by high inflation, rising interest rates and reduced consumer purchasing power. The demand for increased purchasing power in the wage settlement, new rules for the hiring of labour and lower activity in the building and construction industry also increase uncertainty for 2023.\u00a0<\/p>\n Through its operations, OneCo is well positioned in areas that are positively affected by the green shift and increased digitalisation in society. Positive development is therefore expected to continue in our markets overall. A large part of the Group's business is related to infrastructure that is considered critical to society in the areas of electricity, electrical power, transport and telecommunications. For the Infra, Technologies and Ocean business areas, the situation in 2023 in terms of market development and order intake is better than at the start of 2022. For the Electrical and Telecoms business areas, a decline in the total market is expected in 2023 driven by short-term macroeconomic conditions, which may also have a negative impact on the Group. For the Sweden business areas, sales are expected to be approximately at the same level as in 2022.\u00a0<\/p>\n Measures have been implemented to improve profitability within the Group. The Board of Directors expects that the positive effects of these measures will partly compensate for the negative effects of increased inflation and falling activity levels. The Board would like to emphasise that there will always be uncertainty associated with expectations of future developments.\u00a0<\/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.\u00a0<\/p>","protected":false},"featured_media":0,"parent":1806,"menu_order":0,"template":"","format":"standard","categories":[],"class_list":["post-4808","rapporter","type-rapporter","status-publish","format-standard","hentry"],"acf":[],"yoast_head":"\n\n\t\tExplanation of the financial statements\n\t<\/h2>\n\t
<\/p>\n\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
\n\t\tExternal environment\n\t<\/h2>\n\t
<\/p>\n\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