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  #61  
Old 08-05-2019, 12:58 PM
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Originally Posted by LadyFinn View Post
Million profit for the royal children's company - for the 10th consecutive year
Crown Princess Victoria, Prince Carl Philip and Princess Madeleine once again make a million profit in their company Gluonen.
The company, which invests in Swedish securities, made a profit of just over SEK 1.4 million after tax last year.
This comes after the record profit in 2017 of just over SEK 3.2 million.
Gluonen AB is an asset management company owned by the royal family. The capital was already given to the children of the king as small, about 35 years ago, as a gift from the king.
- Today, the royal children each own about 32 percent. The king and queen still own a few percent, says Jan Lindman, Court Treasurer and CEO of Gluonen.
The Gluonen Board of Directors is tasked with managing the money for the family in the long term through long-term investments in, above all, the Swedish stock market.
The royal children's share portfolio is currently worth more than SEK 35 million (calculated July 22, 2019). The equity portfolio is characterized by well-known Swedish companies and brands and has a low risk profile. Among the central companies are Investor, Sandvik, Volvo and Atlas Copco.
After the big record year 2017, Jan Lindman describes last year as a middle year.
- The general index fell by a few percent, and it was the first time in seven years that the stock market actually fell. In the last quarter, the market fell quite sharply, but that it is going down a few years or two lies in the cards, we expect. It is the long-term development that counts.
Although the market went down slightly, Lindman is pleased with the result for 2018. The company reports a million profit for the 10th consecutive year.
The Royal children never pay out any dividends, but the money is reinvested in the company.
- It is long-term savings, and therefore no dividend has been paid out during my ten years in the company, says Jan Lindman.
Miljonvinst i kungabarnens företag – för tionde året i rad
Wow that’s great!
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  #62  
Old 08-18-2019, 02:33 PM
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The court has recently updated the pages of the Royal Finances at their website.

The Court Administration
The budget allocation for the Court Administration is approximately SEK 69 million (2017).
This has to cover the cost of The King's official duties, including travel and expenditure by the Office of the Marshal of the Realm and its staff departments, the Information Department, the Office of the Marshal of the Court (department that administrate The Royal Family's activities and households), as well as the Royal Stables (motorised and horse-drawn transport and the care of historic carriages and harness).
This allocation is released at the beginning of the year. The accounts are audited by external auditors.
The Palace Administration
The Palace Administration consists of the Office of the Governor of the Royal Palaces (management of the Royal Palaces and their grounds) and the Royal Collections (management and care of furnishings and art collections).
These two departments receive a total of some SEK 67 million (2017) from the State and in addition derive revenues from visitor and retailing activities at the various palaces. The budget allocation for the Palace Administration is disbursed monthly.
The Royal Djurgården Administration
The Royal Djurgården Administration (KDF), obtains revenue in the form of rents and leases to cover its expenses. This administration is a separate accounting unit in its own right.
The Royal Family's Private Finances
The Royal Family's private finances include Solliden, on the island of Öland, the grounds and pavilion of which are open to the general public, and Stenhammar, near Flen, which is leased from the State (by special testamentary disposition).
The same rules of taxation apply to the Royal Family as to other citizens.
Royal Finances - Sveriges Kungahus
Ekonomi - Sveriges Kungahus

H.M. The King's Household is also responsible for the planning and implementation of Prince Carl Philip's and Princess Sofia's official activities and representation.
H.M. The King's Household - Sveriges Kungahus

H.M. The Queen's Household is also responsible for the planning and implementation of Princess Madeleine's official activities and representation.
H.M. The Queen's Household - Sveriges Kungahus
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  #63  
Old 08-18-2019, 03:42 PM
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If my calculation is right, it is about 12 million Euro. Is this the complete budget? In my country the monarchy costs around 100 million Euro, while in Sweden there is a massive Royal Palace in Stockholm, with daily ceremonial changing of the guard, more royal residences in perfect cobdition, etc. I can not imagine that the upkeep, heating, maintenance of the Royal Palace Stockholm alone (one of the biggest royal palaces in the world) is all included in 12 million Euro?
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  #64  
Old 08-18-2019, 03:53 PM
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It certainly seems very little, even the court's costs being €6.4million seems pretty low. The palaces costing the same seems very odd to me but the Palaces do charge entrance fees so maybe the €16 entrance fee for an adult brings in enough to keep the Palace going, I found an annual report for 2018 which has slightly bigger figures - SEK71million for the Court and 68.2million for the Palace administration.

Plus the report stated 849,631 people visited the Royal Palace (I imagine not all were for the top price of €16 but still thats a lot - €13.59million in entrance fees just for the Royal Palace if everyone paid top price). Plus the Palace administration rents out some property I think so I guess all together it must be enough to keep everything up and running.

Edit - if I read the next page I'd have seen that actually the accounts state the Palace Administration received SEK69million from the State but made SEK115million from entrance fees, shop sales, rents, forestry and other. In total the Palace Administration had operating costs of SEK191 (€17.8million)
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  #65  
Old 08-18-2019, 04:47 PM
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Indeed, these figures don't cover all expenses related to the Royal Family or the Royal Palaces, but is divided among several Governmental authorities.

The Changing of the Guard is managed by the Swedish Armed Forces and various regiments take turn in guarding the Palaces. Thus is the costs covered by the Armed Forces, as well as when in comes to grenadiers and other soldiers taking part in state visits, formal audiences or other state functions. The security of the Royal Family, other than that of the Royal Guard, is covered by the Police, both from day-to-day business as special events. Of course the Security Services takes the largest part in this.

The grant for The Royal Palaces should cover the maintenance and public showings of the Palaces, the Parks and gardens, as well as the preservation of the Royal Collections, with its furnitures
and paintings and so on (and on and on). The Palaces are owned by the National Property Board (SFV) and I assume they cover the more serious maintenance and renovations of the Palaces. Such as, the ongoing 30 year old facade renovation of the Royal Palace of Stockholm.

To give some further insights I will give some basic figures from The Annual Report 2018 (millions SEK).

The Royal Court
Revenues: (total) 84.524
Grant from the state: 70.991
Fees and other revenues*: 13.334

Expenses: (total) -84.379
Staff: -59.054
Operating expenses: -24.957

The Royal Palaces
Revenues: (total) 185.282
Grant from the state: 69.053
Fees and other revenues**: 115.276
Contributions: 912

Expenses: (total) -191.097
Staff: -118.053
Operating expenses: -63.729
Depreciations: -8.125

* The fees mostly comes from services for administration provided to the Royal Foundations and the Royal Palaces.
** The fees mostly comes from the entrances fees to The Royal Palaces, The Royal Gift Shops and rent.

The Annual Report is available here, only in Swedish though:
https://www.kungahuset.se/download/1...telsen2018.pdf
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  #66  
Old 08-18-2019, 05:15 PM
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Thanks!

It seems the same across all monarchies, some report a lot more cost areas than others. For example Spain is often viewed as the cheapest yet their Royal costs don't include the upkeep of Palaces, travel on jets, overseas visits etc whereas the Dutch and UK (and possibly others) do include these. Until you can compare across every RF accounting in the same way its impossible.
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  #67  
Old 09-15-2019, 01:50 PM
Courtier
 
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So that children company of there’s what does it consist of?
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  #68  
Old 09-18-2019, 06:28 AM
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The King and the Royal court gets a raise of apanage to SEK 146,4 million, SEK 1,715 million more than before.
In 2018 the court got 1752 inquiries of a member of the royal family attending at an event. The members of royal family attended at 900 events (in 2017 at 875 events).
Now it is estimated that the apanage will be around SEK 148 million in 2021.
Så mycket höjs kungens anslag i budgeten _ Aftonbladet
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  #69  
Old 10-09-2019, 12:28 AM
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Million success for Prince Daniel and his company
Prince Daniel's former gym chain, Balance, struggled for a long time with weak profitability. He was the principal owner of the company, but ended up being active after the marriage with Crown Princess Victoria in 2010. In 2018, Daniel sold Balance to Sats.
During 2018, Daniel's company Fornwij AB had a successful year.
The company, whose business is described as “owning and managing real estate” shows very good results in its quarterly report.
In 2017, profit after financial items was SEK 1.4 million. In 2018, the corresponding result reached SEK 5.4 million - an increase of SEK 4 million.
Fornwij AB now has equity of just over SEK 8.6 million.
The revenue consists of dividends from other companies that Prince Daniel owns through his company. For example, the parent company Fornwij owns 70 percent of the company Lapada AB, which in turn owns just over 80 percent of Master Training AB.
Prince Daniel started Master Training AB in the 1990s with an acquaintance, and through that Prince Daniel has made several warm contacts.
Prince Daniel was working at the company's luxury gym in central Stockholm when he met his future wife, Crown Princess Victoria.
At the time he acted as personal trainer in Victoria, whereupon friendship became love.
Master Training AB breeds "wellness, fitness, personal training and skiing and golfing events".
Its turnover has been steadily at just over SEK 20 million per year. Profit after tax has landed at between three and four million SEK.
However, Prince Daniel has not paid any dividends, but left the profits in the company.
Prins Daniel_ Succéår för hans bolag

Daniel owns 100% of the shares of Fornwij AB.
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  #70  
Old 11-09-2019, 03:52 PM
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Press release from the government

Investigation on the public rewards system, the general flag days and the grant for the court

The government has commissioned a committee to review the public reward system and the general flag days and to consider the shape of Parliament's grant for the court.
Within the framework of the review of the public reward system, the Committee shall, inter alia, investigate whether the forms of allocation of the various public rewards of the government and administrative authorities should be changed. The assignment also includes reviewing whether the opportunities for citizens to nominate individuals for public rewards should be expanded.
The Committee will also propose amendments to the regulation of the general flag days, with the aim of reducing the number of royal flag days at the next change of the Head of State. The Committee shall also decide whether one or more new public flag days should be introduced.
The Committee is also instructed to elaborate, in consultation with the Court, principles for the so-called. apanage, and consider how the design of Parliament's grant for the court can contribute to the royal house's official commitments being primarily carried out by a limited number of its members. The assignment is not a consequence of the king's previous message about which members of the royal family he expects to be able to take official assignments.
The assignment is in line with Parliament's announcements from spring 2018, which had its background in a cross-border agreement reached in the Parliament's Constitutional Committee between the Social Democrats, the Environment Party, the Center Party, the Liberals, the Moderates and the Christian Democrats.
Former Speaker of the Riksdag Björn von Sydow will chair the Committee.
Utredning om det offentliga belöningssystemet, de allmänna flaggdagarna och anslaget till hovet - Regeringen.se

The assignment must be presented no later than June 15, 2021. If the committee deems it appropriate, it may submit one or more sub-reports.
Det offentliga belöningssystemet, de allmänna flaggdagarna och utformningen av anslaget till hovet - Regeringen.se
Translation

There may be fewer in the royal family who will receive tax money in a few years. In the background, there is concern about increased costs as the family grows.
An investigation will call for a smaller part of the family than today to stand for the royal duties and millions are reserved for them.
Currently, there are eighteen public flag days and six of them are royal. According to the directives, the committee aims to reduce royal flag days so that it is only flagged for the birthdays and name days of the head of state and the heir to the throne. If that were the case today, Queen Silvia would be without flag days.
Kunglig kostym kan snöras åt _ Aftonbladet
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  #71  
Old 12-27-2019, 02:27 PM
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On Thursday, December 19, the members of the parliamentary committee (Ju 2019: 09) were appointed to investigate the public reward system, the general flag days and the design of the appropriation for the court.
Kommittén om det offentliga belöningssystemet, de allmänna flaggdagarna och utformningen av anslaget till hovet (Ju 2019_09) Kommittéberättelse 2019_Ju09 kommittén, se dir. 2019_76 - Riksdagen
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  #72  
Old 07-23-2020, 05:22 AM
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The court: Cultural heritage is affected when castle visitors are absent
The royal palaces have been severely affected by the corona crisis. The visitors are absent and this year a loss of approximately 75 percent of the revenue is expected. According to the governor of the Royal Palaces, it risks affecting the cultural heritage.
During the spring, the royal castles have been closed to visitors due to the corona pandemic. On July 1, four of the eleven royal castles reopened, but there will be few visitors. On a normal day during the high season, around 10,000 visitors may come to the Royal Palace, but now there will only be between 100 and 200. Due to the fact that there will hardly be any tourists, 75 percent of the revenue is estimated to be lost this year. In a normal year, tourists generate SEK 105 million. This year, revenues are estimated to be only 27 million.
- We have not hired hourly and summer employees, which is about 300 people. Then it is of course the case that when we have fewer employees, the management of parks will be not be done in the way we normally do. It has effects on the care of the cultural heritage, says Staffan Larsson, governor of the Royal Palaces.
The state provides grants to the court. Part to the so-called court administration which finances the king's task as head of state and part to the so-called palace administration which goes to preserve the royal castles and parks. But the care of them is paid for about 80 percent of income from, among others, tourists.
- This division of the apanage is decided by the government and the Riksdag, so we have nothing to say about it.
The Royal Family has not received any government subsidy to cope with the crisis, but according to Staffan Larsson, talks are underway with the Ministry of Finance.
- We want nothing more than to show this fantastic cultural heritage and no one gets happier than us when we see all the people out in our parks. But if you then take care of them, it costs money, says Staffan Larsson.
Hovet_ Kulturarv påverkas när slottsbesökare uteblir _ SVT Nyheter

The royal family's finances have been hit hard by the corona crisis. Now Treasurer of the Court Jan Lindman tells more.
Svensk Damtidning has spoken with the court's chief financial officer Jan Lindman about the court's financial situation. He does not deny that the situation is tough.
- Our business can be divided into two parts. The castle administration, which takes care of tours of the various castles and our parks, for example. There we see a strong negative effect, as the number of visitors decreases sharply, says Jan.
- For that part, the situation is very problematic.
But for the other branch of the business, the court administration, the figures are not as bad.
- There we have seen a fairly neutral effect. We have, for example, had reduced travel costs.
For Jan and his colleagues, it is about making the two parts work in a kind of symbiosis.
- When the palace administration fights, the court administration must bear a little more of the common costs. So then there will be higher pressure on the court administration, says Jan.
- We can only hope that this passes soon. For the good of all, for the whole society.
Kungafamiljen i kris – hopplöst läge _ Svensk Dam
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  #73  
Old 07-23-2020, 06:22 AM
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Originally Posted by LadyFinn View Post
The court: Cultural heritage is affected when castle visitors are absent
The royal palaces have been severely affected by the corona crisis. The visitors are absent and this year a loss of approximately 75 percent of the revenue is expected. According to the governor of the Royal Palaces, it risks affecting the cultural heritage.

[...]

The Royal Family has not received any government subsidy to cope with the crisis, but according to Staffan Larsson, talks are underway with the Ministry of Finance.
- We want nothing more than to show this fantastic cultural heritage and no one gets happier than us when we see all the people out in our parks. But if you then take care of them, it costs money, says Staffan Larsson.
Hovet_ Kulturarv påverkas när slottsbesökare uteblir _ SVT Nyheter
I understand the necessity, but I wonder how a government crisis subsidy to the palace administration would be seen by the public, given that even in times when fewer were struggling there was often dissatisfaction over the costs of the monarchy.
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  #74  
Old 07-23-2020, 08:35 AM
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Originally Posted by tommy100 View Post
Thanks!

It seems the same across all monarchies, some report a lot more cost areas than others. For example Spain is often viewed as the cheapest yet their Royal costs don't include the upkeep of Palaces, travel on jets, overseas visits etc whereas the Dutch and UK (and possibly others) do include these. Until you can compare across every RF accounting in the same way its impossible.

The upkeep of the Spanish palaces is not paid for from the Royal Household's budget but rather by National Heritage (Patrimonio Nacional), which is the state agency that manages the royal sites. Whereas the Royal Household (Casa de S.M. el Rey) has only an 8-million euro budget, the National Heritage budget is normally in the 100 million range.


I believe something similar happens in Sweden. The King has the right of disposal, which is administered by the Royal Court and includes entrance fees, rents and allocation of premises to tenants, but the buildings are physically mantained by the State Property agency. If I am not mistaken, only the buildings in the Royal Djurgarden park (and perhaps the Drottingholm estate ?) are directly mantained by the Royal Court.
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  #75  
Old 07-31-2020, 02:44 PM
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The royal children's capital company Gluonen AB makes its best result ever.
The profit before tax was just over SEK four million.
- The Swedish and foreign stock exchanges did incredibly well last year. Then the company is also doing well. It is a stock market effect, quite simply, says Jan Lindman, the Court Treasurer and CEO of Gluonen.
Gluonen was formed in 1989 and is 96 percent owned by Crown Princess Victoria, Princess Madeleine and Prince Carl Philip. The remaining four percent is owned by the King and Queen.
Now the company has made the best result since the start just over 30 years ago. The profit after tax was almost SEK 3.2 million. Equity ended at SEK 30.7 million.
It is not a particularly active company but has a long-term investment strategy.
- We never take out any money but leave it in the company, and then invest it mainly in Swedish, large listed companies. This has been the case for a long time. We do not sell much of those shares, says Jan Lindman.
He does not want to say which shares it is about.
But it is already known that these are Swedish giants such as Investor, Lundbergs, Latour, Nordea, SEB, SKF and Getinge.
- The royal family wants to show that they believe in Sweden, he says.
They have not chosen to look at specific industries but have chosen to invest broadly.
The annual report, which has now been made public, states that parts of the holding have been sold.
Jan Lindman says that the only thing they have communicated before is that they have got rid of the holding in H&M.
How involved are the royal children in the management of the shares?
- They are involved in such a way that they want to get information about how it has gone. But not engaged in what investments we make.
Jan Lindman says that it has to do with the fact that the royal family is very well informed through all their visits to different places.
- Then it may be that they receive information that is not generally known. We don't want to have a discussion about it, so we don't consult them about what business we do. We tell afterwards what we have done.
Members of the royal family can, for example, sit on the Advisory Council on Foreign Affairs. and hear things about Sweden's relationship with other powers.
- Sometimes it can be about customs and regulations that can affect the companies. Then it is better that they are not involved.
Kungabarnens kapitalbolag Gluonen AB gör sitt bästa resultat
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