Annual reports for non-financial limited companies, account statistics, 2002

The total net profit for non-financial joint-stock companies went down from NOK 66 billion in 2001 to NOK 90 billion in 2002. In spite of reduced net profit, proposed dividends went up from NOK 91 billion in 2001 to NOK 101 billion in 2002.

About 60 per cent of the non- financial joint-stock companies had positive net profit in 2002, amounting to a total of NOK 188 billion. This group proposed NOK 93 billion in dividends for their shareholders. Companies with deficit had a total loss of NOK 122 billion in 2002.

Reduced profitability

The reduced profit for joint- stock companies led to a fall in the key figures that indicate profitability. Operating profit margin, which shows operating profit as a per cent of operating income, fell from 8.9 per cent in 2001 to 8.2 per cent in 2002. The return on total assets went down from 7.4 to 6.6 per cent. The largest drop in profitability was shown in return on equity, which fell from 6.6 per cent in 2001 to 4.8 per cent in 2002.

Increased strength of capital

The equity for non-financial joint-stock companies increased by almost 3 per cent from 2001 to 2002. Invested equity went up by almost 6 percent, while retained earnings went down by 1 per cent. The reduced retained earnings must be seen in relation to the increase in proposed dividends, but on average shareholders invest more in the joint- stock companies then they take as dividends.

The growth in equity was bigger than the growth in liabilities. The equity ratio, which shows equity as a per cent of total equity and liabilities, went up from 35.3 per cent in 2001 to 35.7 per cent in 2002.

Joint- stock companies with positive net profit in 2002, had a 10 per cent increase in equity compared to 2001. Companies with deficit in 2002 reduced their equity with almost 17 per cent. The increased invested equity is mainly invested in companies with positive net profit in 2002. Companies with deficit in 2002 received much less capital from their owners.

Tables:

• Table 1 Selected accounting figures for joint-stock companies. Income statement. 1999-2002. Million NOK
• Table 2 Selected accounting figures for joint-stock companies. Balance sheet at 31 December. 1999-2002. Million NOK
• Table 3 Key figures for joint-stock companies. 1999-2002
• Table 4 Selected accounting figures for joint-stock companies, by industry section. Income statement. Preliminary figures 2002. Million NOK
• Table 5 Selected accounting figures for joint- stock companies, by industry section. Balance sheet at 31 December 2002. Preliminary figures. Million NOK
• Table 6 Key figures for joint-stock companies, by industry section. Preliminary figures 2002
• Table 7 Selected accounting figures for joint-stock companies in Mainland Norway. Income statement. 1999-2002. Million NOK
• Table 8 Selected accounting figures for joint-stock companies in Mainland Norway. Balance sheet at 31 December. 1999-2002. Million NOK
• Table 9 Key figures for joint-stock companies in Mainland Norway. 2002