Cloudberry Annual report 2021 178 Alternative performance measures Reconcilliation of financial APMs (consolidated figures) NOK 1 000 FY 2021 FY 2020 EBITDA, incl associated companies (31 615) (29 822) EBIT, incl associated companies (41 361) (33 111) Equity ratio 84.5% 75.5% Net interest bearing debt (810 741) (341 919) NOK 1000 FY 2021 FY 2020 Long-term interest bearing debt 294 087 26 440 Short-term interest bearing debt 10 105 236 767 Cash and cash equivalent (1 114 934) (605 126) Net interest bearing debt (810 741) (341 919) NOK 1000 FY 2021 FY 2020 Operating profit (EBIT) (41 361) (33 111) Depreciations and amortizations 9 746 3 289 EBITDA (31 615) (29 822) Proportionate Financials The Group’s segment financials are reported on a proportionate basis. The Group introduces Proportionate Financials as the Group is of the opinion that this method improves transparency and earnings visibility, and also aligns with internal management reporting. The key differences between the proportionate and the consolidated IFRS financials are that associated companies are included in the financial accounting lines, the profit or loss statement and share of assets and net debt, with the respective proportionate ownership share, while in the consolidated financials associated companies are consolidated with the equity method. The consolidated revenues and profits are mainly generated in the Production segment. Activities in the Development segment will vary between deliveries to 3. parties or other companies controlled by Cloudberry, where revenues and profits are eliminated in the Consolidated Financial Statements, in the proportionate financials, internal revenue and expenses, are retained. Proportionate interest-bearing debt and NIBD does not include shareholder loans. From the consolidated IFRS reported figures, to arrive at the proportionate figures for the respective periods the Group has: Group eliminations: A: Added back eliminated internal profit or loss items and internal debt and assets, column A. Residual ownership interest: B: Replaced the equity accounted net profit from associated companies in the period with items in column C, D and E. Replaced the investment in shares in associated companies including historical share of profit or loss (asset value) with balance sheet items in column C, D and E. C: Reclassified excess value items included in the equity method to the respective line in the Profit or loss statement, and in the balance sheet. D/E: Included the proportionate share of the line in the profit or loss statement items (respectively: revenues, operating expenses, depreciations and amortizations and net finance items) and the balance sheet items (total assets, interest bearing debt and cash) for the respective associated company.
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