Accounting statistics for non-financial limited companies, 2002

Transport and communication companies experienced the largest decrease in net profit. The industry reported a positive net profit of NOK 7 billion in 2001, but the figures for 2002 show a loss of NOK 13 billion. About 57 per cent of joint stock companies reported a positive net profit, amounting to NOK 191 billion in 2002.

Increased dividends

In spite of the relatively large reduction in net profit, proposed dividends increased from NOK 107 billion to NOK 108 billion. The item "other financial income" has increased sharply in the last two years. This may be due to the fact that a significantly higher share of dividends is distributed between joint stock companies.

Decrease in operating profit

Operating profit in the joint stock companies fell from NOK 209 billion in 2001 to NOK 184 billion in 2002. The fall came as a result of a 4 per cent increase in operating costs, coupled with a more modest increase in operating income. Depreciation costs and write-downs had the strongest growth, up by 13 per cent from 2001 to 2003. Payroll expenses rose by 7 per cent in the same period, whereas raw materials and consumables used went up by 2 per cent.

Equity

Equity increased from NOK 1 325 billion in 2001 to NOK 1 333 billion in 2002. Invested equity went up by almost 6 per cent, while retained earnings went down by 6 per cent. The reduction in retained earnings must be seen in light of the fact that proposed dividends were higher than net profit for the fiscal year 2002. In 2002, owners of joint-stock companies invested NOK 89 NOK in their companies, resulting in an increase in invested equity.

About the statistical basis

The statistics are based on a representative sample of 71 761 non-financial joint-stock companies. The data are based on a questionnaire from the tax authorities that documents revenues, expenses, liabilities and equity as part of the filing of tax returns. The tax questionnaire covers company accounts, not consolidated accounts.

The tax questionnaire shows accounting values and aggregates, based on accounting and tax legislation. The values do not necessarily provide a good picture of the real value or market value of the assets. Similar investments may be entered differently in different companies and may also be entered differently in terms of accounts and taxes.

Tables:

• Table 1 Selected accounting figures. Income statement. 2000-2002. NOK million
• Table 2 Selected accounting figures. Balance sheet at 2000-2002. NOK million
• Table 3 Selected accounting figures by industry section. Income statement. 2002. NOK million
• Table 4 Selected accounting figures, by industry section. Balance sheet at 31 December 2002. NOK million