Financial Statement 2018 - GC Rieber Group

PROFIT AND LOSS STATEMENT

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE 2018 2017

Operating income and expences

Operating income and expences Operating income 4 1 844 797 1 550 386
Operating income and expences Other operating income 100 351 107 102
Operating income and expences Gains (losses) on sale of fixed assets 6 582 0
Operating income and expences 1 Total operating income 1 945 730 1 657 487
Operating income and expences Cost of sales 8 947 751 717 105
Operating income and expences Payroll expense 5,15,26 333 476 310 752
Operating income and expences Depreciation of fixed assets and intangible assets 6,7 231 825 223 730
Operating income and expences Write-down of fixed assets and intangible assets 6,7 -52 206 -14 632
Operating income and expences Other operating expenses 26 398 992 384 087
Operating income and expences 1 Total operating expenses 1 859 838 1 621 041
Operating income and expences
Operating income and expences 1 Operating profit 85 892 36 446

Financial income and expenses

Financial income and expenses Profit (loss) from investments in associated companies 11,12 -90 900 -8 915
Financial income and expenses Profit (loss) from disposal of subsidiaries 3 310 254 19
Financial income and expenses Interest income 5 192 5 068
Financial income and expenses Other financial income 25 32 032 51 338
Financial income and expenses Currency gain (loss) -4 114 9 056
Financial income and expenses Profit (loss) from financial current assets 14 -21 898 7 766
Financial income and expenses Write-down of financial non-current assets 1 680 -6 449
Financial income and expenses Interest expense -99 534 -96 320
Financial income and expenses Other financial expense 25 -25 408 -23 885
Financial income and expenses 1 Net financial income and expenses 107 304 -62 322
Financial income and expenses
Financial income and expenses 1 Profit before tax 193 196 -25 876
Financial income and expenses
Financial income and expenses Income tax expense 16 -24 621 -33 276
Financial income and expenses
Financial income and expenses 1 Profit for the year 168 575 -59 152
Financial income and expenses
Financial income and expenses Non-controlling interests 44 623 -39 462
Financial income and expenses Controlling interests 123 952 -19 690

STATEMENT OF FINANCIAL POSITION
- ASSETS

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE 31.12.2018 31.12.2017

Non-current assets

Intangible assets

Non-current assets Intangible assets Intangible assets 7 17 673 19 773
Non-current assets Intangible assets Deferred tax asset 16 87 366 99 886
Non-current assets Intangible assets Goodwill 7 32 908 42 834
Non-current assets Intangible assets 1 Total intangible assets 137 946 162 493

Tangible non-current assets

Non-current assets Tangible non-current assets Land and buildings 1 757 328 1 669 311
Non-current assets Tangible non-current assets Plant and machinery 265 346 223 429
Non-current assets Tangible non-current assets Vessels and newbuilding contracts 1 770 606 1 717 984
Non-current assets Tangible non-current assets Operating equipment 68 459 52 311
Non-current assets Tangible non-current assets 1 Total tangible non-current assets 6,24 3 861 739 3 663 034

Financial non-current assets

Non-current assets Financial non-current assets Investments in associated companies and joint ventures 11,12 937 005 463 976
Non-current assets Financial non-current assets Loans to associated companies and joint ventures 22 17 275 16 960
Non-current assets Financial non-current assets Investments in shares and equity funds 13 19 244 26 516
Non-current assets Financial non-current assets Plan assets 15 986 654
Non-current assets Financial non-current assets Other long-term receivables 20 7 240 69 540
Non-current assets Financial non-current assets 1 Total financial non-current assets 981 749 577 645
Non-current assets Financial non-current assets
Non-current assets Financial non-current assets 1 Total non-current assets 4 981 435 4 403 172

Current assets

Current assets Inventory 8,9,24 305 612 289 330

Receivables

Current assets Receivables Accounts receivable 10,24 304 647 340 156
Current assets Receivables Other receivables 104 317 91 156
Current assets Receivables 1 Total receivables 408 964 431 312

Investments

Current assets Investments Financial shares 14 214 794 138 526
Current assets Investments Financial bonds 14 414 391 560 920
Current assets Investments Other current financial assets 14 14 546 17 028
Current assets Investments 1 Total investments 643 730 716 474
Current assets
Current assets Cash and bank deposits 19 421 399 414 110
Current assets
Current assets 1 Total current assets 1 779 706 1 851 226
Current assets
Current assets 1 Total assets 6 761 141 6 254 398

STATEMENT OF FINANCIAL POSITION
- EQUITY AND LIABILITIES

NOK 1 000.

Kategori Underkategori isSum Beskrivelse NOTE 31.12.2018 31.12.2017

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 2 268 521 2 117 569
Equity Retained earnings 1 Total retained earnings 2 268 521 2 117 569
Equity Retained earnings
Equity Retained earnings Non-controlling interests 737 176 630 345
Equity Retained earnings
Equity Retained earnings 1 Total equity 17 3 469 511 3 211 727

Liabilities

Provisions for liabilities

Liabilities Provisions for liabilities Pension liabilities 15 37 214 36 673
Liabilities Provisions for liabilities Other provisions for liabilities 225 474
Liabilities Provisions for liabilities 1 Total provisions for liabilities 37 439 37 147

Other non-current liabilities

Liabilities Other non-current liabilities Liabilities to financial institutions 21,24,25 2 513 790 2 117 499
Liabilities Other non-current liabilities Other non-current liabilities 21,23,28 332 072 375 975
Liabilities Other non-current liabilities 1 Total other non-current liabilities 2 845 862 2 493 474

Current liabilities

Liabilities Current liabilities Liabilities to financial institutions 18,24 53 560 109 470
Liabilities Current liabilities Accounts payable 181 409 193 369
Liabilities Current liabilities Taxes payable 16 11 227 7 196
Liabilities Current liabilities Public duties payable 39 218 43 548
Liabilities Current liabilities Dividends 17 39 406 36 770
Liabilities Current liabilities Other current liabilities 83 508 121 696
Liabilities Current liabilities 1 Total current liabilities 408 329 512 049
Liabilities
Liabilities 1 Total liabilities 3 291 630 3 042 670
Liabilities
Liabilities 1 Total equity and liabilities 6 761 141 6 254 398

Bergen, 03.april 2018

STATEMENT OF CASH FLOW

NOK 1 000.

Kategori Underkategori isSum Beskrivelse 2018 2017

a) cash flow from operations

a) cash flow from operations Profit before tax 193 196 -25 876
a) cash flow from operations Taxes paid -7 402 -10 607
a) cash flow from operations Loss/gain on sale of fixed assets -582 80
a) cash flow from operations Loss/gain on disposal of subsidiaries -310 254 -19
a) cash flow from operations Depreciation 231 825 223 730
a) cash flow from operations Write-down of non-current assets -53 886 -8 183
a) cash flow from operations Profit/loss from investments in associated companies 90 900 8 915
a) cash flow from operations Interest received -5 192 -5 068
a) cash flow from operations Interest paid 99 534 96 320
a) cash flow from operations Change in inventory -16 282 -9 965
a) cash flow from operations Change in accounts receivable 35 508 -124 430
a) cash flow from operations Change in accounts payable -11 960 25 589
a) cash flow from operations Change in pensions -550 -12 626
a) cash flow from operations Change in non-current receivables 61 985 -74 320
a) cash flow from operations Loss (profit) from financial current assets 21 898 -7 766
a) cash flow from operations Unrealized currency loss (gain) -114 -8 266
a) cash flow from operations Change in other accruals -44 913 70 082
a) cash flow from operations 1 Net cash flow from operations 283 710 137 590

b) cash flow from investments

b) cash flow from investments Investments in tangible non-current assets and intangible assets -275 808 -223 245
b) cash flow from investments Investments in subsidiaries 0 -88 010
b) cash flow from investments Sale of tangible non-current assets (selling price) 4 669 11 378
b) cash flow from investments Sale of shares in subsidiaries (selling price) 0 1 412
b) cash flow from investments Interest received 5 192 5 068
b) cash flow from investments Investments in other shares/securities -755 830 -501 006
b) cash flow from investments Sale of other shares/securities 599 544 570 672
b) cash flow from investments 1 Net cash flow from investments -422 233 -223 730

c) cash flow from financing activities

c) cash flow from financing activities Cash from new long-term debts 1 164 636 3 902
c) cash flow from financing activities Repayment of long-term debts -836 731 -136 328
c) cash flow from financing activities Net change in other non-current liabilities -43 903 16 646
c) cash flow from financing activities Net change in credit facilities -55 910 54 885
c) cash flow from financing activities Interest paid -99 534 -96 320
c) cash flow from financing activities Paid-in capital 51 066 11 304
c) cash flow from financing activities Dividends paid -36 770 -36 770
c) cash flow from financing activities 1 Net cash flow from financing activities 142 854 -182 682
c) cash flow from financing activities
c) cash flow from financing activities 1 Net change in cash and cash equivalents (a+b+c) 4 331 -268 822
c) cash flow from financing activities
c) cash flow from financing activities 1 Cash and cash equivalents at the beginning of the period 414 110 680 239
c) cash flow from financing activities Currency gain (loss) on cash and cash equivalents 2 958 2 693
c) cash flow from financing activities 1 Cash and cash equivalents at the end of the period 421 399 414 110