Annual Report 2010

Consolidated income statement for the year ended 31 December

(NOK million)Note20102009
Operating revenues 7 13,768 12,745
Raw materials, work in progress and finished goods 26 (1,193) (1,334)
Changes in inventories 1 (37)
Personnel expenses 27 (4,711) (4,533)
Depreciation and amortisation 11,12 (588) (662)
Other operating expenses 28 (5,702) (5,280)
Operating profit before income from associated companies, impairment loss and other revenues and expenses 1,575 899
Income from associated companies 13 36 (67)
Operating profit before impairment loss and other revenues and expenses 1,611 832
Impairment loss 11,12 (110) (161)
Other revenues and expenses 8 1,909 (236)
Operating profit (loss) 3,410 435
Financial income 29 180 206
Financial expenses 29 (191) (362)
Profit (loss) before taxes 3,399 279
Taxes 30 (468) (94)
Net income (loss) continuing operations 2,931 185
Net income (loss) discontinued operations 31 - 327
Net income (loss) 2,931 512
Net income (loss) attributable to non-controlling interests 137 117
Net income (loss) attributable to owners of the parent 2,794 395
Earnings per share (NOK) 32 27.04 4.74
Earnings per share continuing operations (NOK) 32 27.04 0.81
Diluted earnings per share (NOK) 32 27.01 4.74
Diluted earnings per share continuing operations (NOK) 32 27.01 0.81
Earnings per share - adjusted (NOK) 32 9.72 4.42
Diluted earnings per share - adjusted (NOK) 32 9.71 4.42

Consolidated statement of comprehensive income for the year ended 31 December

(NOK million)20102009
Net income (loss) 2,931 512
Change in fair value of investments available for sale 14 (129) 207
Translation differences (247) (1,035)
Hedging of net investment in foreign operations (4) 784
Tax effect hedging of net investment in foreign operations 30 1 (219)
Comprehensive income 2,552 249
Comprehensive income attributable to non-controlling interests 141 116
Comprehensive income attributable to owners of the parent
2,411 133

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