“We are more concerned with the long-term strategic opportunities and are yet to consider short-term goals”

News
336

Gustav Witzøe (67) and his son Gustav Magnar Witzøe (27) received an after-tax profit of EUR 218 million in the investment company Kvarv in 2019.

Turnover ended at EUR 1.7 billion, reports the publication E24.

SalMar billionaire heir Gustav Magnar Witzøe owns almost all the shares in holding and investment company Kvarv, but his father Gustav Witzøe controls through a-shares. Kvarv is also the parent company of Kverva, which in turn is the majority owner in SalMar.

When asked by E24 what 2020 looks like so far for Kvarv, Gustav Witzøe replied: “We are more concerned with the long-term strategic opportunities and are yet to consider short-term goals.

Read more: The salmon king’s huge new villa is one of the largest private homes in the country – see photos

According to the Norwegian regional newspaper Adressa, which first reported Kvarv’s results, the board wrote in its annual report that the Group made investments worth EUR 245 million in 2019 and that several million euros investments are also planned for the years ahead.

The newspaper added that Kvarv’s owners took out a dividend of EUR 23 million last year.