Annual Report 2011

Consolidated income statement for the year ended 31 December

(NOK million)Note20112010
Operating revenues 7 14,378 13,768
Raw materials and finished goods 26 (1,159) (1,192)
Personnel expenses 27 (4,960) (4,711)
Other operating expenses 28 (6,113) (5,702)
Share of profit of associated companies 13 39 36
Gross operating profit (loss)   2,185 2,199
Depreciation and amortisation 11,12 (505) (588)
Gross operating profit (loss) after depreciation and amortisation   1,680 1,611
Impairment loss 11,12 (191) (110)
Other revenues and expenses 8 (50) 1,909
Operating profit (loss)   1,439 3,410
Financial income 29 82 180
Financial expenses 29 (190) (191)
Profit (loss) before taxes   1,331 3,399
Taxes 30 (499) (468)
Profit (loss)   832 2,931
Profit (loss) attributable to non-controlling interests   90 137
Profit (loss) attributable to owners of the parent   742 2,794
Earnings per share (NOK) 31 7.00 27.04
Diluted earnings per share (NOK) 31 6.99 27.01
Earnings per share - adjusted (NOK) 31 8.76 9.72
Diluted earnings per share - adjusted (NOK) 31 8.75 9.71

Consolidated statement of comprehensive income for the year ended 31 December

(NOK million) 20112010
Profit (loss)   832 2,931
Change in fair value of investments available for sale 14 94 (129)
Translation differences   (46) (247)
Hedging of net investment in foreign operations   7 (4)
Tax effect hedging of net investment in foreign operations   (2) 1
Comprehensive income   885 2,552
Comprehensive income attributable to non-controlling interests   92 141
Comprehensive income attributable to owners of the parent   793 2,411

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