Annual reports for non-financial limited companies, account statistics, 2008

According to preliminary figures, non-financial limited companies had NOK 602 billion in operating profit in 2008. The operating profit margin went up from 13.7 per cent in 2007 to 15.2 per cent in 2008. The increasing profitability in the operation was however counteracted by a strong increase in financial expenses. Substantial write-down of financial assets and foreign currency losses resulted in a total deficit of NOK 43 billion in financial items. Operating result before tax was thus NOK 559 billion. Return on equity fell from 18.4 per cent in 2007 to 8.1 per cent in 2008; which is the lowest since 2002.

Downturn hits mainland Norway

Petroleum activities and ocean transport counted for 29 per cent of total operating income for non-financial companies in 2008, but contributed 70 per cent of operating profit and 72 per cent of operating result before tax. Operating result before tax for mainland Norway went down by nearly NOK 350 billion from 2007 to 2008. In petroleum activities and ocean transport, operating profit before tax went up by over NOK 70 billion. Return on equity decreased from 18.3 per cent to 4.7 per cent in mainland Norway, while it remained at about 18 per cent in petroleum activities and ocean transport.

Tables:

• Table 1 Selected accounting figures for limited companies. Income statement. NOK million
• Table 2 Selected accounting figures for limited companies. Balance sheet at 31 December. NOK million
• Table 3 Key figures for limited companies