The Norwegian state receives over NOK 18 billion in dividends from its direct ownership in 47 companies - almost 50 per cent more than the year before.

- Norwegian economy is doing well, and this also goes for companies partially or wholly owned by the Norwegian state. The profits in 2004 were record high and the state received more than NOK 18 billion in dividends. The revenues are important contributions in the governments effort to improve conditions for business and increase welfare, says Minister of Trade and Industry Børge Brende

The Ministry of Trade and Industry published today the State’s Ownership Report 2004. The report covers 47 directly owned companies managed by 12 different ministries and includes both ordinary commercial companies (as Norsk Hydro) and companies pursuing also other objectives (as the state hospitals). It is the first time that such a broad presentation of the State’s direct ownership has been published. It is a means introduced by the government to increase transparency of the management of state ownership in Norway.

By year-end 2004 the total value of the Norwegian state’s direct ownership were estimated at more than NOK 350 billion. The returns in 7 listed companies were on average 31 per cent through 2004.

- The public sector, including the National Insurance Scheme Fund and the municipalities, owns 36 per cent of the assets on the Oslo Stock Exchange. This is too high and the public sectors ownership should be further reduced. This should be done in a way which maximises the value of the state’s holdings, contributes to sound development of the companies and safeguards national interests, concludes Minister of Trade and Industry, Børge Brende.

• The State's Ownership Report 2004 (pdf 6677kB).