Financial Statement 2016 - GC Rieber Group

PROFIT AND LOSS STATEMENT

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE 2016 2015

Operating income and expences

Operating income and expences Operating income 4 1 414 263 2 220 868
Operating income and expences Other operating income 96 103 61 708
Operating income and expences Gains (losses) on sale of fixed assets 6 6 300 19 147
Operating income and expences 1 Total operating income 1 516 666 2 301 723
Operating income and expences Cost of sales 8 601 700 601 316
Operating income and expences Payroll expense 5,15,26 377 235 418 997
Operating income and expences Depreciation of fixed assets and intangible assets 6,7 336 147 410 478
Operating income and expences Write-down of fixed assets and intangible assets 6,7 602 088 281 619
Operating income and expences Other operating expenses 10,26 410 795 651 421
Operating income and expences 1 Total operating expenses 2 327 965 2 363 832
Operating income and expences
Operating income and expences 1 Operating profit -811 299 -62 109

Financial income and expenses

Financial income and expenses Profit (loss) from investments in associated companies 11,12 26 784 36 168
Financial income and expenses Profit (loss) from disposal of subsidiaries 2 898 341 69 879
Financial income and expenses Interest income 10 482 22 522
Financial income and expenses Other financial income 25 40 105 46 539
Financial income and expenses Currency gain (loss) 6 428 -35 211
Financial income and expenses Profit (loss) from financial current assets 14 791 -24 588
Financial income and expenses Write-down of financial non-current assets 11 664 0
Financial income and expenses Interest expense -191 343 -206 832
Financial income and expenses Other financial expense 25 -77 555 -50 811
Financial income and expenses 1 Net financial income and expenses 725 696 -142 335
Financial income and expenses
Financial income and expenses 1 Profit before tax -85 603 -204 444
Financial income and expenses
Financial income and expenses Income tax expense 16 -10 419 71 117
Financial income and expenses
Financial income and expenses 1 Profit for the year -96 022 -275 560
Financial income and expenses
Financial income and expenses Non-controlling interests -211 694 -59 061
Financial income and expenses Controlling interests 115 672 -216 499

STATEMENT OF FINANCIAL POSITION
- ASSETS

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE 31.12.2016 31.12.2015

Non-current assets

Intangible assets

Non-current assets Intangible assets Intangible assets 7 16 778 13 060
Non-current assets Intangible assets Deferred tax asset 16 121 994 91 340
Non-current assets Intangible assets Goodwill 7 2 301 4 378
Non-current assets Intangible assets 1 Total intangible assets 141 073 108 778

Tangible non-current assets

Non-current assets Tangible non-current assets Land and buildings 1 657 439 2 944 051
Non-current assets Tangible non-current assets Plant and machinery 218 434 244 353
Non-current assets Tangible non-current assets Vessels and newbuilding contracts 1 899 580 4 777 351
Non-current assets Tangible non-current assets Operating equipment 29 828 31 943
Non-current assets Tangible non-current assets 1 Total tangible non-current assets 6,24 3 805 281 7 997 698

Financial non-current assets

Non-current assets Financial non-current assets Investments in associated companies and joint ventures 11,12 495 370 179 160
Non-current assets Financial non-current assets Loans to associated companies and joint ventures 4 310 22 023
Non-current assets Financial non-current assets Investments in shares and equity funds 13 27 054 30 396
Non-current assets Financial non-current assets Plan assets 15 320 0
Non-current assets Financial non-current assets Other long-term receivables 20,26 7 869 17 927
Non-current assets Financial non-current assets 1 Total financial non-current assets 534 924 249 505
Non-current assets Financial non-current assets
Non-current assets Financial non-current assets 1 Total non-current assets 4 481 277 8 355 981

Current assets

Current assets Inventory 8,9,24 279 365 304 871

Receivables

Current assets Receivables Accounts receivable 10,24 215 725 187 719
Current assets Receivables Other receivables 22 68 968 69 747
Current assets Receivables 1 Total receivables 284 694 257 466

Investments

Current assets Investments Financial shares 14 25 499 22 524
Current assets Investments Financial bonds 14 761 699 55 289
Current assets Investments Other current financial assets 0 0
Current assets Investments 1 Total investments 787 198 77 812
Current assets
Current assets Cash and bank deposits 19 680 239 934 995
Current assets
Current assets 1 Total current assets 2 031 495 1 575 145
Current assets
Current assets 1 Total assets 6 512 772 9 931 126

STATEMENT OF FINANCIAL POSITION
- EQUITY AND LIABILITIES

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE 31.12.2016 31.12.2015

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 2 218 410 2 314 818
Equity Retained earnings 1 Total retained earnings 2 218 410 2 314 818
Equity Retained earnings
Equity Retained earnings Non-controlling interests 682 381 1 346 732
Equity Retained earnings
Equity Retained earnings 1 Total equity 17 3 364 605 4 125 364

Liabilities

Provisions for liabilities

Liabilities Provisions for liabilities Pension liabilities 15 49 251 63 663
Liabilities Provisions for liabilities Other provisions for liabilities 6 908 0
Liabilities Provisions for liabilities 1 Total provisions for liabilities 56 159 63 663

Other non-current liabilities

Liabilities Other non-current liabilities Liabilities to financial institutions 21,24,25 2 310 862 4 854 688
Liabilities Other non-current liabilities Other non-current liabilities 21,23,28 359 329 370 901
Liabilities Other non-current liabilities 1 Total other non-current liabilities 2 670 191 5 225 589

Current liabilities

Liabilities Current liabilities Liabilities to financial institutions 18,24 54 585 125 731
Liabilities Current liabilities Accounts payable 167 780 151 532
Liabilities Current liabilities Taxes payable 16 8 019 7 748
Liabilities Current liabilities Public duties payable 29 951 29 373
Liabilities Current liabilities Dividends 17 36 770 20 193
Liabilities Current liabilities Other current liabilities 5 124 712 181 932
Liabilities Current liabilities 1 Total current liabilities 421 817 516 510
Liabilities
Liabilities 1 Total liabilities 3 148 167 5 805 762
Liabilities
Liabilities 1 Total equity and liabilities 6 512 772 9 931 126

STATEMENT OF CASH FLOW

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 2016 2015

a) cash flow from operations

a) cash flow from operations Profit before tax -85 603 -204 444
a) cash flow from operations Taxes paid -11 359 -10 234
a) cash flow from operations Loss/gain on sale of fixed assets -6 300 -19 147
a) cash flow from operations Loss/gain on disposal of subsidiaries -898 341 -69 879
a) cash flow from operations Depreciation 336 147 410 478
a) cash flow from operations Write-down of non-current assets 590 424 281 619
a) cash flow from operations Profit/loss from investments in associated companies -26 784 -36 168
a) cash flow from operations Interest received -10 482 -22 522
a) cash flow from operations Interest paid 191 343 206 832
a) cash flow from operations Change in inventory 25 506 -30 658
a) cash flow from operations Change in accounts receivable -28 007 76 772
a) cash flow from operations Change in accounts payable 16 248 -18 919
a) cash flow from operations Change in pensions -11 711 3 245
a) cash flow from operations Change in non-current receivables 27 770 68
a) cash flow from operations Loss (profit) from financial current assets -791 24 588
a) cash flow from operations Unrealized currency loss (gain) 11 536 -37 850
a) cash flow from operations Change in other accruals 34 112 -185 853
a) cash flow from operations 1 Net cash flow from operations 153 709 367 929

b) cash flow from investments

b) cash flow from investments Investments in tangible non-current assets and intangible assets -221 975 -956 654
b) cash flow from investments Investments in subsidiaries -473 -11 882
b) cash flow from investments Sale of tangible non-current assets (selling price) 17 890 262 611
b) cash flow from investments Sale of shares in subsidiaries (selling price) 1 170 993 88 396
b) cash flow from investments Interest received 10 482 22 522
b) cash flow from investments Investments in other shares/securities -987 441 -60 121
b) cash flow from investments Sale of other shares/securities 269 288 97 613
b) cash flow from investments 1 Net cash flow from investments 258 765 -557 514

c) cash flow from financing activities

c) cash flow from financing activities Cash from new long-term debts 445 575 2 970 389
c) cash flow from financing activities Repayment of long-term debts -825 084 -2 314 277
c) cash flow from financing activities Net change in other non-current liabilities -11 572 40 099
c) cash flow from financing activities Net change in credit facilities -71 147 -84 146
c) cash flow from financing activities Interest paid -191 343 -206 832
c) cash flow from financing activities Paid-in capital 9 777 1 901
c) cash flow from financing activities Dividends paid -20 193 -61 779
c) cash flow from financing activities 1 Net cash flow from financing activities -663 987 345 355
c) cash flow from financing activities
c) cash flow from financing activities 1 Net change in cash and cash equivalents (a+b+c) -251 512 155 770
c) cash flow from financing activities
c) cash flow from financing activities 1 Cash and cash equivalents at the beginning of the period 934 995 766 409
c) cash flow from financing activities Currency gain (loss) on cash and cash equivalents -3 244 12 817
c) cash flow from financing activities 1 Cash and cash equivalents at the end of the period 680 239 934 995