2012 Annual report

“

2012 was a very good year for Ferd. It was a year in which we continued to create enduring value and leave clear footprints,  which is our vision, and we did this while remaining loyal to our values.

 

Introduction by
Johan H. Andresen Jr.
Chairman of the board

Read English transcript

Value-adjusted equity

19 600

NOK million

Value-adjusted equity

Value-adjusted equity
Return on equity

23%

 

Return on equity (%)
value-adjusted

Return on equity
Operating revenue

3 937

NOK millioner

Operating revenue

Operating revenue
Profit for the year

3 629

NOK million

Ferd AS
Profit for the year

Profit for the year
-
+

Higlights 2012

  • Ferd achieved a very good return in 2012 of NOK 3.7 billion, equivalent to 23%
  • Most of Ferd’s business areas reported good earnings
  • Successful process to find a new partner for Aibel
  • Ferd has received sizeable redemptions from Herkules following the sales of Pronova and Beerenberg
  • Ferd has both capacity and capital available for new investments

Organization chart

We will create enduring value and leave clear footprints

This describes the vision that we will strive to achieve. By value we mean more than just financial return - value is also created through personal development and growth. Equally we shall not forget the role we play as a significant and valuable member of society as a whole. Enduring value signals that we intend to create something more than just short-term 'bubbles' - we stand for sound and worthwhile projects of enduring value.

By leaving clear footprints we mean that we want our activities to leave lasting, significant and visible results in their wake. This also acknowledges that a trail is clearest if many follow it - our ambition is for all our companies, units and employees to be driven by the same overriding principles whilst retaining each company's particular identity and freedom of action.

Ferd will focus on being a pro-active long-term owner of strong companies with international potential as well as operating as a financial investor, making use of its core expertise in finance, business development and networking

The mission statement confirms that Ferd will continue to be involved both as an active owner of companies and as a financial investor. This combination of roles has historically generated good results for the group, and over the years Ferd has built up its expertise in both areas. Our corporate mission underlines the group's commitment to taking a long-term approach and stresses that we do not intend to base our business on making a quick 'turn'.

Moreover the statement stresses that we will not only be a long-term owner, but will also play an active role in the companies where we have a dominant position. This means that the group is committed to developing the expertise needed to support our companies in their continuing development. A particular challenge in this area is to ensure that our companies can benefit from each other's areas of particular strength and expertise.

Ferd has defined two sets of values that will play an important role in realising the business vision for which we strive. 

Corporate Values:

Credibility
This means that everyone can be confident that we keep our promises - that we will implement our strategies and meet our goals. Even though Ferd is a family-owned company, credibility requires openness in our relationship with the media and the outside world as a whole.

Spirit of adventure
This represents our willingness to take the initiative and see new opportunities - and also our readiness to accept that we can make mistakes. We want our people to be ready to take the initiative and make the extra effort, but they must also feel secure that we understand that not everything can be 100 percent successful. Our spirit of adventure means a commitment to progress and to seeing new opportunities beyond the distant horizon. It also means that all our employees will have the opportunity for personal development and the satisfaction of creating new adventures for the group.

Teamwork
Ferd can only realise its goals if everyone works as a team with mutual respect for each other. This is what creates synergies and a sense of shared purpose both within each company and between all the companies in the group.

Long-term view
The continuity, reliability and integrity which characterise the group will continue to be central aspects of our personality.

  

Operational Values

Expertise
If we are to be a pro-active owner and partner, the group needs to build up a store of knowledge and expertise in important common areas.We have defined finance, business development and networking as key areas of expertise for the group as a whole.

Networking
We strive to develop and make good use of the group’s network of contacts, both between our industrial companies and between our industrial and financial activities as a whole in order to create benefits such as synergies between our activities. We must also make full use of the group’s network of international contacts in the best interests of every individual unit.

Capital
Our strong capital base and healthy liquidity represent an important competitive advantage, and give us the capacity to provide the financial resources needed to develop and grow both the industrial and financial investment activities of the group.

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2013

Ferd

Strandveien 50
1324 Lysaker

Postboks 34
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Phone 67 10 80 00
Fax 67 10 80 01

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