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Annual Report 2012

Annual Report 2012

Statement of Financial

Statement of Financial Position – Parent Company(NOK '000)Figures in NOK '000 Note 31.12.2012 31.12.2011ASSETSProperty, plant and equipment 3 163 857Total tangible non-current assets 163 857Investments in subsidiaries 6 - 760 436Receivables, Group companies 7 456 563 309 690Related party receivables - 404Total financial non-current assets 456 563 1 070 530Total non-current assets 456 726 1 071 387Other receivables 6 363 2 306Cash and short-term deposits 18 095 216 007Total current assets 24 459 218 313TOTAL ASSETS 481 185 1 289 701EQUITY AND LIABILITIESShare capital 846 017 846 017Share premium - -Treasury shares -758 -758Other paid in capital - -Total paid in capital 845 259 845 259Retained losses -1 061 240 -237 200Total equity 11 -215 981 608 059Non-current portion of bond loan 9 8 969 639 350Loans, Group companies 7 17 620 22 325Pension liability 8 1 125 3 370Total non-current liabilities 27 713 665 045Current portion of bond loan 9 627 406 -Related party payables - 244Trade and other payables 42 047 16 353Total current liabilities 669 453 16 597Total liabilities 697 166 681 642TOTAL EQUITY AND LIABILITIES 481 185 1 289 701See accompanying notes that are an integral part of these financial statements.58

Cash Flow Statement – Parent Company(NOK '000)Figures in NOK '000 Note 2012 2011Profit/loss (-) before taxes -824 039 -1 029 807Amortisation of share-based payments - 2 498Impairment of financial assets 6, 7 10 468 1 051 758Loss on disposal of financial assets 6 760 436 -Depreciation 3 26 142Interest expenses 4 36 984 37 647Interest income 4 -39 977 -30 564Foreign currency (gain) loss 20 832 -37 884Other adjustments 20 657 3 048Change in pension liability -2 245 -1 098Change in current assets -3 653 -1 147Change in current liabilities 25 450 881Net cash flows from operating activities 4 937 -4 525Net cash flows from intercompany debt and receivables -180 660 -389 205Proceeds from sale of companies 6 - -Interest received 39 977 30 148Net cash flows from investing activities -140 683 -359 057Net proceeds from issuance of shares 11 - 286 697Payment of other financial costs -21 441 -Interest paid -37 255 -28 407Net cash flows from financing activities -58 695 258 290Net change in cash and cash equivalents -194 441 -105 292Effect of exchange rate changes on cash -3 471 16 864Cash and cash equivalents at 1 January 216 007 304 436Cash and cash equivalents at 31 December 18 095 216 007Of which:Restricted bank deposits including employee tax withholding accounts 5 378 3 149See accompanying notes that are an integral part of these financial statements.59

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