Annual Report 2011 - Kongsberg Maritime - Kongsberg Gruppen

INCOME STATEMENT AND
BALANCE SHEET
KONGSBERG GRUPPEN ASA
Income Statement 1 Jan - 31 Dec
Amounts in MNOK Note 2011 2010
Operating revenues 9 193 177
Payroll expenses 4, 5 (117) (96)
Depreciation (2) (2)
Other operating expenses 4 (123) (125)
EBIT (49) (46)
Interest from Group companies 51 57
Impairment on shares (22) -
Currency trading gains/ (loss) 13 4
Interest to Group companies (59) (26)
Other interest expenses (6) (26)
Other finacial expenses (2) (2)
Group contribution received 700 700
Net financial items 675 707
Earnings before tax (EBIT) 626 661
Taxes 6 (189) (187)
Profit for the year 437 474
Distributable and equity transfers
Proposed dividends 2 (450) (450)
Balance at 31 Dec
Amounts in MNOK Note 2011 2010
ASSETS
Non-current assets
Deferred tax asset 6 65 55
Fixed assets 7 7
Shares in subsidaries 3 2 215 2 215
Other shareholdings 57 79
Long-term receivables in subsidiaries 1 525 1 516
Other long-term receivables 46 45
Total non-current assets 3 915 3 917
Current assets
Receivables in subsidiaries 829 806
Cash and cash equivalents 1 318 1 800
Total current assets 2 147 2 606
Total assets 6 062 6 523
EQUITY AND LIABILITIES
Equity
Share capital 150 150
Total paid-in capital 150 150
Retained earnings 1 067 1 103
Total retained earnings 1 067 1 103
Total equity 2 1 217 1 253
Non-current liabilities
Pension liabilites 5 189 163
Long-term interest-bearing loans 7 500 800
Non-current liabilities to subsidiaries 1 644 1 891
Other non-current liabilites 29 29
Total non-current liabilites 2 362 2 883
Current liabilities
Dividends 2 450 450
Current financial liabilities 7 300 -
Other current liabilities 299 273
Bank overdraft facilities 1 434 1 664
Total current liabilities 2 483 2 387
Total equity and liabilites 6 062 6 523
2 INTRODUCTION
7 DIRECTORS’ REPORT AND
18 FINANCIAL STATEMENTS
64 CORPORATE GOVERNANCE
76 FINANCIAL CALENDAR AND ADDRESSES
KONGSBERG Annual Report 2011 55