Note 1 - Beerenberg

Note 5
(Amounts in NOK 1,000)
According to IFRS 8.2, the Group is not obliged to disclose
segment information in accordance with IFRS 8 Operating
Segments. This note indicates information partially coinciding
with the mandatory disclosure requirements in IFRS 8,
but can not be read as full segment information in accordance
with IFRS 8.
In internal reporrting segments are grouped according to
three dimensions: Goods and service, enterprise areas and
geographic dimension. CEO (the chief operating decision
maker) and Group Management evaluates on a monthly
basis the operational and financial results of the segments.
The presented financial data is consistent with the financial
information used internally by executive management to
lead the business, to make strategic decisions and to allocate
resources.
Goods and services
Goods and services provided is divided into two segments.
These are ISS and BC. The ISS segment consists of traditional
insulation services, scaffolding and surface treatment.
The BC segment consists of services and products, including
more complex services which require greater expertise.
The Services includes the Benarx insulation product series
(in-house developed), cutting and removal, rope access techniques,
subsea isolation and Sveisolat / Habitat services.
ISS BC Consolidated
2012 2011 2012 2011 2012 2011
Sales revenue 1 009 058 1 068 215 427 236 349 386 1 436 294 1 417 601
Operating expenses 852 264 926 550 310 592 262 396 1 162 856 1 188 949
Gross profit 156 795 141 665 116 644 86 990 273 439 228 655
Admin & project support 100 732 100 732
EBITDA * 172 707 127 924
*) Operating profit/loss before depreciation and amortisation
Enterprise areas
The enterprise areas are identified based on the reports
that management uses when the companies’ results and
profitability are assessed at a strategic level. The Group is
organized into four enterprise areas: North West, North Sea,
Innovation & Technology Export and Subsea & Technology
Export. North West are contracts and projects managed
from the head office in Bergen, North Sea are contracts and
projects managed from the Stavanger office. Innovation
& Technolgoy Export and Subsea Technology & Export is
mainly export sales of proprietary technologies and services,
where the latter business area is the Subsea part of the
export focus.
North West
North Sea
Innovation &
Technology Export
Subsea &
Technology Export
2012 2011 2012 2011 2012 2011 2012 2011
Sales Revenue 810 093 967 103 539 471 395 455 29 086 36 216 57 644 18 827
Operating expenses 659 217 827 990 432 791 315 616 33 568 30 528 37 280 14 812
Gross Profit 150 876 139 113 106 680 79 839 (4 482) 5 688 20 364 4 015
48
Beerenberg CORP. AS Group group accounts 2012