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Brunvoll Holding Group
DIRECTORS’ REPORT
2014
Nature of our Business
Brunvoll Holding AS is the holding company for the subsidiaries
Brunvoll AS, Brunvoll Årø AS, Brunvoll Strandgata AS,
Brunvoll Oppdal AS, Årøhagen Eiendom AS, Høvdingbygget
Årø AS and Brødr Brunvoll Motorfabrikk AS.
The Group develops, manufactures and markets thruster
systems with associated proprietary control systems through
its subsidiary Brunvoll AS, as well as leasing real property
in Årøhaugen 3 in Molde through the company Årøhagen
Eiendom AS. The subsidiaries Brunvoll Årø AS and Brunvoll
Strandgata AS are real-estate companies that lease property
for the Group’s other activities. Høvdingbygget Årø AS is
currently building a new administrative building to be leased
to Brunvoll AS. This will be completed in the spring of 2016.
The business is located inMolde with a sales office in Germany.
The German sales office is not operated by employees of the
Group. In addition, we are represented by agents in 28
countries all over the world.
Going concern
The financial statements for the year have been prepared on a
going concern basis. The basis for this assessment is that the
Group has a strong financial position and operates in a market
in which we are competitive in quality, price and service.
The Group’s financial position can be described as follows:
The Group has sound finances and liquidity. Its long-term
liabilities amounts to NOK 58.7 million. Of this, long-term
loans represent NOK 49.7 million. At year-end, the Group has
a construction loan of NOK 22.9 million.
Human Resources, Health, Safety and
the Environment
Human Resources
Brunvoll Holding AS has two employees.
On 31 December 2014, the Group had 303 employees as well
as 29 apprentices, in total 332 full-time equivalents. This is
at the same level as in 2013. Of the Group’s 29 apprentices,
eight were enrolled in the program termed TAF («technical
and general subjects»), in which apprentices spend four years
in training alternating between a work-based setting and an
upper secondary school.
Health, Safety and Environment
We work systematically with health, safety, and environmental
matters in the Group, and implement preventive measures
based on specific action plans.
Average sickness absence during the reporting year amounted
to 3.5% of the total working hours in the Group, compared
with 3.6% during the previous year. The Group strives to
achieve a good and safe work environment through a clear HSE
policy, and we continuously carry out improvement measures.
The work environment in the Group is regarded as good.
The Group is not subject to any form of environmental licence,
and has no specific directives from state or municipal supervisory
authorities. In 2014, an improvement project was launched
with a focus on energy efficiency. Some hazardous waste is
produced, but this is disposed of in compliance with
regulations. The Group does not pollute the environment.
During the financial year, 17 injuries and accidents were
reported, of which 10 resulted in absence of more than one day.
As part of the initiatives to increase the safety of our employees,
risk assessments of work operations have been conducted
systematically in 2014.
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Annual Report 2014