Generations Rather than Financial Quarters
Turnover in the Group amounted to SEK 892 million (SEK 824 million in 2015). Profit after financial items was SEK 60.7 million (SEK 47.0 million). Operating profit before and after foundation provision amounted to SEK 76.3 million and SEK 60.3 million respectively, equivalent to an operating margin of 9 percent and 7 percent respectively.
At the end of the year there were 850 (805) employees, and of these 60 percent were architects and 33 percent engineers. Employee turnover was 13 percent (9 percent), with 151 (140) people starting and 106 finishing (69).
The Group’s average age was 40. Our largest individual market service was architect-related services, accounting for 85 percent of our turnover, which corresponds to SEK 758 million.
As per the balance sheet date, the Group’s 220 000 shares were allocated as follows: 122 partners owned 112 970 shares, two ownership foundations owned 5 590 shares and 494 other employees owned 101 440 shares. During the year the ownership group acquired 93 new shareholders. In 2016, 244 individuals purchased a total of 28 920 shares. There was high demand for shares and the decision was therefore taken to implement a new issue of 10 000 shares.
Since last year there has been increased geopolitical risk in Europe as well as in other parts of the world. It is unclear how this will impact on our current situation of a very strong economy but we are taking the prevailing uncertainty into account. In Sweden there is a great deal of discussion around whether we are in a housing bubble with low interest rates and rising housing prices. Simultaneously, there is a risk that urban development is hampered if we are unsuccessful in building the required number of residential buildings.
Our responsibility is to ensure the quality, form and design of all our projects at a time when the demand for housing is at its greatest. Thanks to the creativity and expertise of all our employees, we are taking a pioneering role in demonstrating how a sustainable society can be designed and operated. This is evident in the kinds of projects we are winning and being offered, as well as in the influence we can have in speaking out and supporting these issues through public debate. Ultimately, the proof of our commitment is in the measures we take to reduce our own environmental impact as we go about our business and our lives.
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