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November 28, 2015 4:44 AM ET

Commercial Services and Supplies

Company Overview of RenoNorden AS

Company Overview

RenoNorden AS provides waste collection and related recycling services for municipalities across Norway, Sweden, and Denmark. The company was founded in 2000 and is based in Frogner, Norway. RenoNorden AS operates as a subsidiary of RenoNorden ASA.

Lindebergvegen 3

Frogner,  2016


Founded in 2000


47 63 86 60 80


47 63 86 60 81

Key Executives for RenoNorden AS

Group Chief Executive Officer
Founder and Chairman
Chief Financial Officer
Age: 39
Executive Vice President of Business Development and M&A
Managing Director of Denmark
Compensation as of Fiscal Year 2015.

RenoNorden AS Key Developments

RenoNorden AS Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

RenoNorden AS announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total operating revenue of NOK 481,343,000 against NOK 414,217,000 a year ago. Operating profit was NOK 57,871,000 against NOK 60,097,000 a year ago. Profit before taxes were NOK 42,076,000 against NOK 53,222,000 a year ago. Profit for the period was NOK 34,019,000 against NOK 42,744,000 a year ago. Basic and diluted earnings per share from profit for the year were NOK 1.25 against NOK 7.83. Net cash generated from operating activities NOK 60,574,000 against NOK 52,646,000 a year ago. Purchase of equipment was NOK 3,256,000 against NOK 2,557,000 a year ago. Total CAPEX was NOK 13,667,000 against NOK 39,860,000 a year ago. EBITDA was NOK 95.0 million against NOK 81.5 million a year ago. EBIT was NOK 57.9 against NOK 60.1 million a year ago. For the nine months, the company, total operating revenue was NOK 1,338,213,000 against NOK 1,172,843,000 a year ago. Operating profit was NOK 133,351,000 against NOK 140,892,000 a year ago. Profit before taxes were NOK 97,654,000 against NOK 90,072,000 a year ago. Profit for the period was NOK 80,184,000 against NOK 42,486,000 a year ago. Basic and diluted earnings per share from profit for the year were NOK 2.81 against NOK 14.70. Net cash generated from operating activities NOK 149,747,000 against NOK 99,755,000 a year ago. Purchase of equipment was NOK 14,640,000 against NOK 40,968,000 a year ago. Total CAPEX was NOK 106,927,000 against NOK 87,000,000 a year ago. EBITDA was NOK 232.3 million against NOK 212.2 million a year ago. EBIT was NOK 133.4 against NOK 140.9 million a year ago. Net debt as on September 30, 2015 was NOK 1,062,198,000 against NOK 1,006,405,000 a year ago.

RenoNorden AS Announces Dividend Payable May 26, 2015

RenoNorden AS announced that a total dividends of NOK 50 million is planned to be paid out 26 May 2015 and the shares will trade excluding dividend of NOK 1.835 per share on 15 May 2015 subject to approval in the AGM.

RenoNorden AS Announces Executive Changes

Since RenoNorden completed a successful IPO last year, the company is strengthening its organizational capacity and capability to pursue strategic growth opportunities going forward. Jon Kristian Flesvik, who has been Executive Vice President and CFO of RenoNorden since 2009, will move into a new role as Executive Vice President of Business development and M&A, where his business knowledge and industry competence can be fully utilized. To replace Jon Kristian Flesvik as CFO, Øystein Disch Olsrød (43 years) has been appointed, effective from November 2, 2015. Øystein is present CFO at Tide ASA. Olsrød brings many years of experience from CFO positions in listed companies, most recently from a company very similar in structure to RenoNorden. He is educated State Authorised Public Accountant, and have served in different positions in accounting/finance, consultancy and as Managing Director. Flesvik will fulfill the role as CFO until Olsrød is in place, but in order to free up time for Flesvik to pursue his new role, Lars Sandodden Johansen will act as Assistant CFO during this period.

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