Annual Report 2025
The Annual Report 2025 for AS Uglands Rederi and The J.J. Ugland Companies has now been published.
The Annual Report 2025 for AS Uglands Rederi and The J.J. Ugland Companies has now been published.
This was the 95th year of operation for Uglands Rederi. In 2025 the market rates for our bulk carriers were somewhat lower than in 2024 leading to lower results from operations. In the second half of the year the markets showed a positive development. In the 2022 financial statements a tax liability of NOK 77 million were charged to the accounts. This as a result of a ruling by the Norwegian Tax Administration which the company disagreed with and appealed to the Tax Appeals Board. The matter was considered last autumn by the Tax Appeals Board which ruled fully in our favour. As a result of this, tax has been reversed with NOK 115 million in the 2025 accounts.
For The J.J. Ugland Companies combined the total operating income increased greatly in 2025 to NOK 3 762 million with a result after tax of NOK 629 million. This was mainly due to AS Nymo which in 2025 achieved record turnover and results. Based on the strong result, tax payable from operations has been recorded with NOK 130 mill.
If you have questions to the annual report please contact the undersigned.
To read the full report, please follow this link: Annual Report 2025
Halvor Ribe
CFO
