Log in
Log in
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     
Sign up
Or log in with
GoogleGoogle
Twitter Twitter
Facebook Facebook
Apple Apple     

ARENDALS FOSSEKOMPANI ASA

(AFK)
  Report
Real-time Oslo Bors  -  10:25 2022-11-30 am EST
224.50 NOK   -1.97%
11/15AFK ex dividend NOK 0,95 today
AQ
11/15ARENDALS FOSSEKOMPANI ASA : Ex-dividend day for interim dividend
FA
11/11Arendals Fossekompani ASA Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
CI
SummaryQuotesChartsNewsCalendarCompanyFinancialsConsensusFunds 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news
Days
:
Hours
:
Minutes
:
Seconds

Norway to hike taxes by $3 billion on power firms, fish farms

09/28/2022 | 03:27am EST

OSLO (Reuters) - Norway's centre-left government said on Wednesday it plans to increase taxes on electricity producers and fish farmers to raise an extra 33 billion crowns ($3 billion) a year.

"Energy producers and the aquaculture industry make billions of crowns on our common resources," the finance ministry said in a statement. "The government is now proposing that more of the value created should go back to society."

Shares in fish farmers such as Mowi, the world's largest, Leroy Seafood and SalMar fell on the news and were down between 15% and 19% at 0719 GMT, underperforming an Oslo benchmark index which was 3.4% lower.

While Norway has a $1.2 trillion sovereign wealth fund, the world's largest, the government says it plans to cut spending from the fund next year in order to curb inflation.

The extra taxes impose a resource rent tax on aquaculture and wind power, an increase in the resource rent tax on hydropower and an extraordinary tax on wind and hydropower due to the very high electricity prices.

Costs linked to taking in refugees, ongoing public construction projects, benefit payments and household power subsidies will rise by some 100 billion crowns in 2023, the government has said.

"In reality, we have two ways to close this gap: major cuts in welfare such as pensions, health, police and care for the elderly, or through tax increases," said Finance Minister Trygve Slagsvold Vedum, who is from the rural-focused Centre Party.

($1 = 10.8822 Norwegian crowns)

(Reporting by Terje Solsvik; Editing by Gwladys Fouche and Alexander Smith)


ę Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
ARENDALS FOSSEKOMPANI ASA -1.97% 224.5 Real-time Quote.-48.54%
LEROY SEAFOOD 1.52% 48.1 Real-time Quote.-31.29%
MOWI ASA 0.00% 153.65 Real-time Quote.-26.38%
NORSK HYDRO ASA -0.68% 72.58 Real-time Quote.5.12%
SALMAR ASA 3.73% 345.2 Real-time Quote.-45.26%
All news about ARENDALS FOSSEKOMPANI ASA
11/15AFK ex dividend NOK 0,95 today
AQ
11/15ARENDALS FOSSEKOMPANI ASA : Ex-dividend day for interim divide..
FA
11/11Arendals Fossekompani ASA Reports Earnings Results for the Third Quarter and Nine Month..
CI
11/11Arendals Fossekompani : Third quarter financial results
AQ
11/11Key information relation to cash dividend to be paid by Arendals Fossekompani ASA
AQ
11/10Arendals Fossekompani ASA Approves Cash Dividend, Payable on 23 November 2022
CI
11/10Arendals Fossekompani : Remuneration Report 2021
PU
11/10Arendals Fossekompani : Policy for remumeration of executive management in Arendals Fossek..
PU
10/31Tekna receives major order from leading aerospace OEM
AQ
10/28Arendals Fossekompani : Greenfact ramps up market analysis team
PU
More news
Financials
Sales 2021 4 196 M 421 M 421 M
Net income 2021 107 M 10,7 M 10,7 M
Net cash 2021 1 615 M 162 M 162 M
P/E ratio 2021 229x
Yield 2021 0,75%
Capitalization 12 324 M 1 238 M 1 238 M
EV / Sales 2020 2,53x
EV / Sales 2021 5,44x
Nbr of Employees 2 200
Free-Float 11,9%
Chart ARENDALS FOSSEKOMPANI ASA
Duration : Period :
Arendals Fossekompani ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends ARENDALS FOSSEKOMPANI ASA
Short TermMid-TermLong Term
TrendsNeutralBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 1
Last Close Price 224,50 NOK
Average target price 265,00 NOK
Spread / Average Target 18,0%
Managers and Directors
ěrjan Svanevik Chief Executive Officer
Lars Peder Fosse Fensli Chief Financial Officer
Jon Hindar Chairman
Heidi Marie Petersen Independent Director
Morten Sigval Bergesen Deputy Chairman