Eye surgeon nets booming profits from salmon stocks

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Ole Morten Halvorsen (59) earned EUR 26.6 million after-tax in 2018.

Hegnar.no. report the fresh accounts of Halvorsen’s wholly-owned investment company OM Holding cashed in. In comparison, 2017’s after tax results were EUR 2 million.

According to the online news service, the shares of Halvorsen rose by almost EUR 20.8 million, and in addition, he received EUR 7.8 million in dividends. At the end of last year, Halvorsen had EUR 248.7 million in assets, of which EUR 196 million was market-based shares.

Salmon stocks are Halvorsen’s favourite, who is a senior consultant at Ullevål University Hospital, as well as working with visual surgery at a private clinic in Bærum, near Oslo, Norway.

At the end of last year, Halvorsen had six million shares in Grieg Seafood, which is its largest shareholding. In addition, he had 1.9 million shares in Austevoll Seafood, and 1.8 million shares in Lerøy Seafood. He also holds 692,000 shares in Mowi, and 383,000 shares in Bakkafrost. Halvorsen also has minor shareholdings in The Scottish Salmon Company (3,900) Stingray Marine Solutions (66), according to Dagens Næringsliv.

Halvorsen’s largest shareholdings at the end of last year included Grieg Seafood, Austevoll Seafood, Mowi and Lerøy Seafood.

However, his share portfolio is heavily mortgaged. The annual accounts for 2018 show that the company has close to EUR 134.8 million in debt to credit institutions.

Halvorsen seldom speaks in the media about its investment activities.