THIS IS STRØMBERG GROUP
CEO’s introduction
The Strømberg Group again delivered very good results results in 2018. It gives us a good starting point to meet the demanding transformation within all our business areas.
The good result for 2018 was mainly affected of the sale of the property Heiane 4B in Bergen. In addition, Påbygg delivered the best results ever. We are very proud that we are able to develop solid production companies in Norway are in fierce competition with international players. We expect it positive earnings trend will continue into 2019 as the companies have significant order backlogs.
Within the business area Last and Bus we have had a negative trend in 2018. This is because of stricter requirements from Volvo Trucks resulting in margins under pressure. This has caused lower margins and results in total. We have initiated a number of measures to counteract this development and we expect that we will be able to reverse this trend in 2019.
The positive thing about 2018 was the signing of more contracts more than 500 buses to be delivered in spring and autumn 2019.
The industry is facing major changes, development of new technology affects the end product such as development of electric trucks and buses. The is about electrification, connected products to the internet and testing out self-driving buses and trucks. The development will be very demanding handle in the future without full focus from all employees and the ability to change workshop drive.
In the autumn of 2018, the Group entered into an agreement with Wilson ASA on the sale of six of a total of seven vessels. The vessels were partially delivered in 2018, and the remainder will be delivered in 2019. The settlement for the vessels was made through the purchase of shares in Wilson ASA. The Strømberg Group became the second largest shareholder in Wilson ASA.
For the Strømberg Group to remain one leading companies we must control our costs , we must prepare for the future with investments in infrastructure, expertise and digital product development. These will be areas of focus us in 2019 and the future.
I would like to thank all the staff for their good and enterprising efforts in 2018.
2019 will be another demanding year with constantly new demands us as a leading player in the market. I have great believe that we will do this with the good resources we have within each of the business areas.
Per Gunnar Strømberg Rasmussen
CEO
The group
Strømberg Gruppen AS was founded in 1998 and has since then expanded substantially. The group is one of Bergen’s largest businesses in terms of turnover. The Strømberg Group’s core enterprises are dealership activities and workshop operations for Volvo trucks and buses, property develop-ment, manufacturing and sale of truck bodywork, road transport equipment, and commodities. In addition, we deal with light rail buses, investment, sand, and shipping. The company’s objective is to maintain its position as a leading Volvo truck and bus dealer.
In 2018, the group’s turnover was NOK 2,1 billion and a profit after tax of NOK 130,8 million. The results are affected by the group’s minority interests, making the actual result a profi t of NOK 127,1 million in 2018. CORE VALUES Business integrity, honesty, and reliability consti- tute the core of the Strømberg Group’s values. We always endeavour to conduct ourselves with openness and trustworthiness internally as well as externally. Our business policy encompasses emoyees, qual- ity, and environment. Our employees are our most valuable resource and we constantly work on the enhancement of each employee’s competence and motivation.
Core values
Business integrity, honesty, and reliability consti- tute the core of the Strømberg Group’s values.
We always endeavour to conduct ourselves with openness and trustworthiness internally as well as externally.
Our business policy encompasses employees, qual- ity, and environment. Our employees are our most valuable resource and we constantly work on the enhancement of each employee’s competence and motivation.
Areas of activity
The Strømberg Group has six basic fields of operation. These include bodywork, truck and busdealerships, commercial property, shipping, sand, and financial investments.
Areas of activity
Our bodywork business is represented by Arka AS in Os municipality (south of Bergen), ARKA Rogaland AS at Orstad in Sandnes near Stavanger, Rolands AS at Mjåvann outside Kristiansand, and Nor Slep AS in Sandefjord.
These companies manufacture bodywork for trucks and distribution vehicles as well as importing and selling cranes and other relevant equipment. They have acquired a high level of expertise and carry out product repair and service. Nor Slep AS became part of the Group in 2015 and in 2018 Strønberg Gruppen holds 75 % in of the company’s shares. The rest of the shares are owned by the old shareholders.
Arka AS has offi ces in central Oslo and an ownership interest in Transrep AS, who performs repairs and services and builds small bodywork at the same address. The Group has an ownership interest of 50% in Transrep AS. The bodywork business had a turnover before elimination of approximately NOK 433,7 million in 2018.
Volvo dealership
Strømberg Gruppen is Norway’s largest Volvo and Renault dealer (approx. 32 %) and are conducting dealership activitieswithin sales of and service on vans, trucks, and buses through Trucknor AS (region 3) and Nordic Last og Buss AS (region 5).
We have a large number of service points throughout our entire dealership business, and with our killed employees always providing excellent service, our goal is a constant development of our business and further development of our customer relations.
Nordic Last og Buss AS consists of 14 workshop facilities situated from Saltfjellet in the south to Nordkapp in the north. Organisationally the company is divided into two areas: District South and District North, each with a general manger.
Trucknor AS owns 10 Trucknor companies in all. These companies are situated along the coast, from Stryn in the north to Arendal in the south, consisting of a total of 18 workshop facilities, with a total turnover of NOK 1.393 million in 2018.
Busnor
Busnor attends to the need for bus material not available in the Volvo range of products. Primarily they provide environmental friendly, cost effi cient high capacity buses for use in the larger cities. This material is provided as an alternative to light rail and tram, but also in order to increase the capacity of heavily loaded bus lines.
Commercial property
Rasmussen Eiendom AS is a considerable actor in the market with a rental space of 100.000 m2 and 53 tenants spread out on 20 buildings. The organisation has seen a steady growth throughout the later years as a result of the restoration of older buildings and the building of several new ones. Rasmussen Eiendom’s buildings consist of both old and new units – of buildings we have built and buildings we have bought. What they have in common is that they are all in very good repair.
Shipping
In 2018 the group sold all the shares in VSM AS. VSM provides technical follow-up with ISM/ISPS/MLC certification as a separate priority area for shipping companies in need of extra work effort during busy periods. The company has undergone controlled growth and currently has 14 employees on land and at offi ces in Bergen, Rotterdam, and Kaliningrad. VMS operates 17 ships and has an agreement with the Royal Norwegian Navy concerning operational support for their largest new construction, the logistic support vessel MAUD.
Sand
Financial Investments
Advanced Asset Management AS manages the Group’s liquid investments. In recent years, the Group has built a portfolio of liquid securities with a moderate risk profile. In the time ahead, additional capital will be added to the portfolio in order to build up the business area and make it an integral part of the Group.
The Board of directors in 2018
• Dagfinn Heradstveit
– Chairman of the board
• Per Gunnar Strømberg Rasmussen
– CEO and board member
• Svein Andreas Strømberg Rasmussen
– Board member
• Rolf Arne Rasmussen
– Board member
• Eldar Sætre
– Board member
