Financial Statement 2015 - GC Rieber Group

PROFIT AND LOSS STATEMENT

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE (Norwegian) 2015 2014

Operating income and expences

Operating income and expences Operating income 4 2 220 868 1 937 453
Operating income and expences Other operating income 61 708 70 821
Operating income and expences Gains (losses) on sale of fixed assets 6 19 147 155
Operating income and expences 1 Total operating income 2 301 723 2 008 429
Operating income and expences Cost of sales 8 601 316 486 268
Operating income and expences Payroll expense 5,15,26 418 997 400 047
Operating income and expences Depreciation of fixed assets and intangible assets 6,7 410 478 317 592
Operating income and expences Write-down of fixed assets and intangible assets 6,7 281 619 43 891
Operating income and expences Other operating expenses 10,26 651 421 451 912
Operating income and expences 1 Total operating expenses 2 363 832 1 699 710
Operating income and expences
Operating income and expences 1 Operating profit -62 109 308 718

Financial income and expenses

Financial income and expenses Profit (loss) from investments in associated companies 11 79 -545
Financial income and expenses Profit (loss) from investments in joint ventures 12 36 088 23 373
Financial income and expenses Profit (loss) from financial current assets 14 -24 588 -6 133
Financial income and expenses Write-down of financial non-current assets 0 -158 634
Financial income and expenses Interest income 22 522 32 954
Financial income and expenses Other financial income 25 52 280 36 830
Financial income and expenses Profit (loss) from disposal of subsidiaries 3 69 879 73 806
Financial income and expenses Interest expense -206 832 -170 043
Financial income and expenses Other financial expense 25 -91 763 -185 154
Financial income and expenses 1 Net financial income and expenses -142 335 -353 547
Financial income and expenses
Financial income and expenses 1 Profit before tax -204 444 -44 829
Financial income and expenses
Financial income and expenses Income tax expense 16 71 117 7 895
Financial income and expenses
Financial income and expenses 1 Profit for the year -275 560 -52 723
Financial income and expenses
Financial income and expenses Non-controlling interests -59 061 13 064
Financial income and expenses Controlling interests -216 499 -65 787

STATEMENT OF FINANCIAL POSITION
- ASSETS

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE (Norwegian) 31.12.2015 31.12.2014

Non-current assets

Intangible assets

Non-current assets Intangible assets Intangible assets 7 13 060 1 167
Non-current assets Intangible assets Deferred tax asset 16 91 340 157 767
Non-current assets Intangible assets Goodwill 7 4 378 9 577
Non-current assets Intangible assets 1 Total intangible assets 108 778 168 511

Tangible non-current assets

Non-current assets Tangible non-current assets Land 462 374 489 811
Non-current assets Tangible non-current assets Buildings 2 481 677 2 320 739
Non-current assets Tangible non-current assets Vessels and newbuilding contracts 4 777 351 4 063 619
Non-current assets Tangible non-current assets Plant and machinery 244 353 244 886
Non-current assets Tangible non-current assets Operating equipment 31 943 18 446
Non-current assets Tangible non-current assets 1 Total tangible non-current assets 6,24 7 997 698 7 137 500

Financial non-current assets

Non-current assets Financial non-current assets Investments in associated companies 11 0 699
Non-current assets Financial non-current assets Investments in joint ventures 12 179 160 135 980
Non-current assets Financial non-current assets Investments in shares and equity funds 13 30 396 49 035
Non-current assets Financial non-current assets Loans to associated companies and joint ventures 22 22 023 29 733
Non-current assets Financial non-current assets Other long-term receivables 20,26 17 927 10 285
Non-current assets Financial non-current assets 1 Total financial non-current assets 249 505 225 732
Non-current assets Financial non-current assets
Non-current assets Financial non-current assets 1 Total non-current assets 8 355 981 7 531 743

Current assets

Current assets Inventory 8,9,24 304 871 274 212

Receivables

Current assets Receivables Accounts receivable 10,24 187 719 264 491
Current assets Receivables Other receivables 69 747 137 162
Current assets Receivables 1 Total receivables 257 466 401 653

Investments

Current assets Investments Financial shares 14 22 524 30 734
Current assets Investments Financial bonds 14 55 289 60 131
Current assets Investments 1 Total investments 77 812 90 864
Current assets
Current assets Cash and bank deposits 19 934 995 766 409
Current assets
Current assets 1 Total current assets 1 575 145 1 533 138
Current assets
Current assets 1 Total assets 9 931 126 9 064 881

STATEMENT OF FINANCIAL POSITION
- EQUITY AND LIABILITIES

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE (Norwegian) 31.12.2015 31.12.2014

Equity

Restricted equity

Equity Restricted equity Share capital 27 29 400 29 400
Equity Restricted equity Share premium reserve 433 840 433 840
Equity Restricted equity Other restricted equity 574 574
Equity Restricted equity 1 Total restricted equity 463 814 463 814

Retained earnings

Equity Retained earnings Other equity 2 314 818 2 232 539
Equity Retained earnings 1 Total retained earnings 2 314 818 2 232 539
Equity Retained earnings
Equity Retained earnings Non-controlling interests 1 346 732 1 314 103
Equity Retained earnings
Equity Retained earnings 1 Total equity 17 4 125 364 4 010 455

Liabilities

Provisions for liabilities

Liabilities Provisions for liabilities Pension liabilities 15 63 663 82 268
Liabilities Provisions for liabilities 1 Total provisions for liabilities 63 663 82 268

Other non-current liabilities

Liabilities Other non-current liabilities Liabilities to financial institutions 21,24,25 4 854 688 3 798 608
Liabilities Other non-current liabilities Other non-current liabilities 21,23,28 370 901 330 802
Liabilities Other non-current liabilities 1 Total other non-current liabilities 5 225 589 4 129 410

Current liabilities

Liabilities Current liabilities Liabilities to financial institutions 18,24 125 731 209 877
Liabilities Current liabilities Accounts payable 151 532 170 452
Liabilities Current liabilities Taxes payable 16 7 748 10 234
Liabilities Current liabilities Public duties payable 29 373 31 472
Liabilities Current liabilities Dividends 17 20 193 61 779
Liabilities Current liabilities Other current liabilities 181 932 358 934
Liabilities Current liabilities 1 Total current liabilities 516 510 842 748
Liabilities
Liabilities 1 Total liabilities 5 805 762 5 054 426
Liabilities
Liabilities 1 Total equity and liabilities 9 931 126 9 064 881

STATEMENT OF CASH FLOW

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 2015 2014

a) cash flow from operations

a) cash flow from operations Profit before tax -204 444 -44 829
a) cash flow from operations Taxes paid -10 234 -23 219
a) cash flow from operations Loss/gain on sale of fixed assets -19 147 -155
a) cash flow from operations Loss/gain on disposal of subsidiaries -69 879 -73 806
a) cash flow from operations Depreciation 410 478 317 592
a) cash flow from operations Write-down of non-current assets 281 619 202 525
a) cash flow from operations Profit/loss from investments in associated companies -36 168 -22 827
a) cash flow from operations Interest received -22 522 -32 954
a) cash flow from operations Interest paid 206 832 170 043
a) cash flow from operations Change in inventory -30 658 3 621
a) cash flow from operations Change in accounts receivable 76 772 12 058
a) cash flow from operations Change in accounts payable -18 919 3 748
a) cash flow from operations Change in pensions 3 245 389
a) cash flow from operations Change in non-current receivables 68 -3 203
a) cash flow from operations Loss (profit) from financial current assets 24 588 6 133
a) cash flow from operations Unrealized agio loss (gain) -37 850 9 910
a) cash flow from operations Change in other accruals -185 853 -33 660
a) cash flow from operations 1 Net cash flow from operations 367 929 491 366

b) cash flow from investments

b) cash flow from investments Investments in tangible non-current assets and intangible assets -956 654 -1 098 073
b) cash flow from investments Investments in subsidiaries -11 882 0
b) cash flow from investments Sale of tangible non-current assets (selling price) 262 611 571
b) cash flow from investments Sale of shares in subsidiaries (selling price) 88 396 123 999
b) cash flow from investments Interest received 22 522 32 954
b) cash flow from investments Investments in other shares/securities -60 121 -130 781
b) cash flow from investments Sale of other shares/securities 97 613 129 668
b) cash flow from investments 1 Net cash flow from investments -557 514 -941 662

c) cash flow from financing activities

c) cash flow from financing activities Cash from new long-term debts 2 970 389 643 719
c) cash flow from financing activities Repayment of long-term debts -2 314 277 -274 436
c) cash flow from financing activities Net change in other non-current liabilities 40 099 137 946
c) cash flow from financing activities Net change in credit facilities -84 146 67 607
c) cash flow from financing activities Interest paid -206 832 -170 043
c) cash flow from financing activities Paid-in capital 1 901 0
c) cash flow from financing activities Dividends paid -61 779 -132 482
c) cash flow from financing activities 1 Net cash flow from financing activities 345 355 272 311
c) cash flow from financing activities
c) cash flow from financing activities 1 Net change in cash and cash equivalents (a+b+c) 155 770 -177 985
c) cash flow from financing activities
c) cash flow from financing activities 1 Cash and cash equivalents at the beginning of the period 766 263 931 431
c) cash flow from financing activities Currency gain (loss) on cash and cash equivalents 12 817 12 817
c) cash flow from financing activities 1 Cash and cash equivalents at the end of the period 934 849 766 263