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The money runs in for the interior of Hagen

The yearly figures for 2018 show that Princess Gruppen AS was left with a profit after tax of NOK 28.79 million, compared to NOK 13.38 million at the bottom line the year before.

The company becomes proprietary to Sepas AS, which in turn is owned 50/50 by the medical investor Per Werner Madsens Periveco and Stein Erik Hagens Canica.

Also read: The smoke million runs in for Midelfart

Remarkably improved

“The cash flow of operations from operations is significantly improved and reflects the underlying revenue. The liquidity situation for the company is considered to be quite satisfactory, ”says the board's annual report.

The operating profit of the company, which is in Ski, and sells from textile and home interiors, amounted to NOK 37.48 million, compared to NOK 20.52 million. The proceeds, which are mainly due to sales of candles, decorations, cushions and blankets, curtains, bedding, amounted to NOK 897.72 million, up from NOK 878.92 million in 2017.

Most shops are located in large shopping centers.

In the same time as the revenue grew, the cost was almost flat, reaching NOK 1.83 million to NOK 860.24 million.

“The financial development of the company so far in 2019 was satisfactory. The board expects the company to show up in future improved revenue, & # 39; sets the annual report.

Also read: Today, Stein Erik Hagen gets hundreds of millions

4.37 billion in five years

The Princess Group, which was founded in 1957, has sold a total of NOK 4.37 billion over the past five years.

The company consists of a national chain of 150 stores, and last year worked 539 man-years. Loan costs in 2018 amounted to NOK 226.58 million, compared to NOK 22.66 million in 2017.

Salary of CEO Kai Jeroen Gulbrandsen amounts to NOK 1.43 million. He did not reply to Tuesday's question from Hegnar.nos.

Also read: The naked truth about Hagen's money case

Under the richest in Norway

Per Werner Madsen made a fortune when he built the chain of Maxi, which was later sold to Stein Erik Hagen. In connection with the announcement of Komplett Bank last autumn, Werner Madsen sold out completely, a deal that gave him about 200 million NOK.

In the current portfolio we find, among others, the interior chain Princess, which it owns together with Hagen.

Werner Madsen is on & # 39; a list of & # 39; A capital city of 400 the largest of Norway in a 394th place, with a net wealth in 2018 of NOK 750 million.

Stein Erik Hagen is ranked 11th, with a net worth of NOK 25 billion.

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