Financial Statement 2017 - GC Rieber Group

PROFIT AND LOSS STATEMENT

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 2017 2016

Operating income and expences

Operating income and expences Operating income 1 550 386 1 414 263
Operating income and expences Other operating income 107 102 96 103
Operating income and expences Gains (losses) on sale of fixed assets 0 6 300
Operating income and expences 1 Total operating income 1 657 487 1 516 666
Operating income and expences Cost of sales 717 105 601 700
Operating income and expences Payroll expense 310 752 377 235
Operating income and expences Depreciation of fixed assets and intangible assets 223 730 336 147
Operating income and expences Write-down of fixed assets and intangible assets -14 632 602 088
Operating income and expences Other operating expenses 384 087 410 795
Operating income and expences 1 Total operating expenses 1 621 041 2 327 965
Operating income and expences
Operating income and expences 1 Operating profit 36 446 -811 299

Financial income and expenses

Financial income and expenses Profit (loss) from investments in associated companies -8 915 26 784
Financial income and expenses Profit (loss) from disposal of subsidiaries 19 898 341
Financial income and expenses Interest income 5 068 10 482
Financial income and expenses Other financial income 51 338 40 105
Financial income and expenses Currency gain (loss) 9 056 6 428
Financial income and expenses Profit (loss) from financial current assets 7 766 791
Financial income and expenses Write-down of financial non-current assets -6 449 11 664
Financial income and expenses Interest expense -96 320 -191 343
Financial income and expenses Other financial expense -23 885 -77 555
Financial income and expenses 1 Net financial income and expenses -62 322 725 696
Financial income and expenses
Financial income and expenses 1 Profit before tax -25 876 -85 603
Financial income and expenses
Financial income and expenses Income tax expense -33 276 -10 419
Financial income and expenses
Financial income and expenses 1 Profit for the year -59 152 -96 022
Financial income and expenses
Financial income and expenses Non-controlling interests -39 462 -211 694
Financial income and expenses Controlling interests -19 690 115 672

STATEMENT OF FINANCIAL POSITION
- ASSETS

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 31.12.2017 31.12.2016

Non-current assets

Intangible assets

Non-current assets Intangible assets Intangible assets 19 773 16 778
Non-current assets Intangible assets Deferred tax asset 99 886 121 994
Non-current assets Intangible assets Goodwill 42 834 2 301
Non-current assets Intangible assets 1 Total intangible assets 162 493 141 073

Tangible non-current assets

Non-current assets Tangible non-current assets Land and buildings 1 669 311 1 657 439
Non-current assets Tangible non-current assets Plant and machinery 223 429 218 434
Non-current assets Tangible non-current assets Vessels and newbuilding contracts 1 717 984 1 899 580
Non-current assets Tangible non-current assets Operating equipment 52 311 29 828
Non-current assets Tangible non-current assets 1 Total tangible non-current assets 3 663 034 3 805 281

Financial non-current assets

Non-current assets Financial non-current assets Investments in associated companies and joint ventures 463 976 495 370
Non-current assets Financial non-current assets Loans to associated companies and joint ventures 16 960 4 310
Non-current assets Financial non-current assets Investments in shares and equity funds 26 516 27 054
Non-current assets Financial non-current assets Plan assets 654 320
Non-current assets Financial non-current assets Other long-term receivables 69 540 7 869
Non-current assets Financial non-current assets 1 Total financial non-current assets 577 645 534 924
Non-current assets Financial non-current assets
Non-current assets Financial non-current assets 1 Total non-current assets 4 403 172 4 481 277

Current assets

Current assets Inventory 289 330 279 365

Receivables

Current assets Receivables Accounts receivable 340 156 215 725
Current assets Receivables Other receivables 91 156 68 968
Current assets Receivables 1 Total receivables 431 312 284 694

Investments

Current assets Investments Financial shares 138 526 25 499
Current assets Investments Financial bonds 560 920 761 699
Current assets Investments Other current financial assets 17 028 0
Current assets Investments 1 Total investments 716 474 787 198
Current assets
Current assets Cash and bank deposits 414 110 680 239
Current assets
Current assets 1 Total current assets 1 851 226 2 031 495
Current assets
Current assets 1 Total assets 6 254 398 6 512 772

STATEMENT OF FINANCIAL POSITION
- EQUITY AND LIABILITIES

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 31.12.2017 31.12.2016

Equity

Restricted equity

Equity Restricted equity Share capital 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 2 117 569 2 218 410
Equity Retained earnings 1 Total retained earnings 2 117 569 2 218 410
Equity Retained earnings
Equity Retained earnings Non-controlling interests 630 345 682 381
Equity Retained earnings
Equity Retained earnings 1 Total equity 3 211 727 3 364 605

Liabilities

Provisions for liabilities

Liabilities Provisions for liabilities Pension liabilities 36 673 49 251
Liabilities Provisions for liabilities Other provisions for liabilities 474 6 908
Liabilities Provisions for liabilities 1 Total provisions for liabilities 37 147 56 159

Other non-current liabilities

Liabilities Other non-current liabilities Liabilities to financial institutions 2 117 499 2 310 862
Liabilities Other non-current liabilities Other non-current liabilities 375 975 359 329
Liabilities Other non-current liabilities 1 Total other non-current liabilities 2 493 474 2 670 191

Current liabilities

Liabilities Current liabilities Liabilities to financial institutions 109 470 54 585
Liabilities Current liabilities Accounts payable 193 369 167 780
Liabilities Current liabilities Taxes payable 7 196 8 019
Liabilities Current liabilities Public duties payable 43 548 29 951
Liabilities Current liabilities Dividends 36 770 36 770
Liabilities Current liabilities Other current liabilities 121 696 124 712
Liabilities Current liabilities 1 Total current liabilities 512 049 421 817
Liabilities
Liabilities 1 Total liabilities 3 042 670 3 148 167
Liabilities
Liabilities 1 Total equity and liabilities 6 254 398 6 512 772

Bergen, 03.april 2018

STATEMENT OF CASH FLOW

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 2017 2016

a) cash flow from operations

a) cash flow from operations Profit before tax -25 876 -85 603
a) cash flow from operations Taxes paid -10 607 -11 359
a) cash flow from operations Loss/gain on sale of fixed assets 80 -6 300
a) cash flow from operations Loss/gain on disposal of subsidiaries -19 -898 341
a) cash flow from operations Depreciation 223 730 336 147
a) cash flow from operations Write-down of non-current assets -8 183 590 424
a) cash flow from operations Profit/loss from investments in associated companies 8 915 -26 784
a) cash flow from operations Interest received -5 068 -10 482
a) cash flow from operations Interest paid 96 320 191 343
a) cash flow from operations Change in inventory -9 965 25 506
a) cash flow from operations Change in accounts receivable -124 430 -28 007
a) cash flow from operations Change in accounts payable 25 589 16 248
a) cash flow from operations Change in pensions -12 626 -11 711
a) cash flow from operations Change in non-current receivables -74 320 27 770
a) cash flow from operations Loss (profit) from financial current assets -7 766 -791
a) cash flow from operations Unrealized currency loss (gain) -8 266 11 536
a) cash flow from operations Change in other accruals 70 082 34 112
a) cash flow from operations 1 Net cash flow from operations 137 590 153 709

b) cash flow from investments

b) cash flow from investments Investments in tangible non-current assets and intangible assets -223 245 -221 975
b) cash flow from investments Investments in subsidiaries -88 010 -473
b) cash flow from investments Sale of tangible non-current assets (selling price) 11 378 17 890
b) cash flow from investments Sale of shares in subsidiaries (selling price) 1 412 1 170 993
b) cash flow from investments Interest received 5 068 10 482
b) cash flow from investments Investments in other shares/securities -501 006 -987 441
b) cash flow from investments Sale of other shares/securities 570 672 269 288
b) cash flow from investments 1 Net cash flow from investments -223 730 258 765

c) cash flow from financing activities

c) cash flow from financing activities Cash from new long-term debts 3 902 445 575
c) cash flow from financing activities Repayment of long-term debts -136 328 -825 084
c) cash flow from financing activities Net change in other non-current liabilities 16 646 -11 572
c) cash flow from financing activities Net change in credit facilities 54 885 -71 147
c) cash flow from financing activities Interest paid -96 320 -191 343
c) cash flow from financing activities Paid-in capital 11 304 9 777
c) cash flow from financing activities Dividends paid -36 770 -20 193
c) cash flow from financing activities 1 Net cash flow from financing activities -182 682 -663 987
c) cash flow from financing activities
c) cash flow from financing activities 1 Net change in cash and cash equivalents (a+b+c) -268 822 -251 512
c) cash flow from financing activities
c) cash flow from financing activities 1 Cash and cash equivalents at the beginning of the period 680 239 934 995
c) cash flow from financing activities Currency gain (loss) on cash and cash equivalents 2 693 -3 244
c) cash flow from financing activities 1 Cash and cash equivalents at the end of the period 414 110 680 239