27 Cloudberry Annual report 2021 Board of Directors report Total comprehensive income was NOK -70m (NOK -36m), which was attributable to Cloudberry shareholders, while NOK 0m was attributable to non-controlling interests. The total loss of NOK -70m is suggested to be allocated to accumulated loss and retained earnings. Cashflow Cash flow from operating activities for the year was NOK -71m (NOK -4m). Cash flow from investing activities was NOK -829m (NOK -354m). Cash flow from financing activities amounted to NOK 1 411m (NOK 958m). For details, please see the consolidated statement of cash flows in the Group consolidated financial statements. At year-end, cash and cash equivalents were NOK 1 115m (NOK 605m). Financial position Total assets at year-end were NOK 3 118m (NOK 1 397m). The increase from last year primarily reflects acquisitions, business combinations and capital raises. Non-current assets totalled NOK 1 735m (NOK 435m) consisting of investment in producing assets and associated companies, while current assets were NOK 1 383m (NOK 962m), mainly project inventory, other current assets and cash, and cash equivalents. Total equity was NOK 2 636m (NOK 1 055m) at year end, corresponding to an equity ratio of 85% (76%). Total liabilities were NOK 482m (NOK 342m), with NOK 91m due within 12 months. Segments Cloudberry had in 2021 three business segments: Cloudberry Production (“Production”), Cloudberry Development (“Development”), as well as Cloudberry Clean Energy (“Corporate”). From 2022 Cloudberry will in addition report on Cloudberry Operations (“Operations”). Cloudberry Production Cloudberry Production owns long-term yield hydro and wind assets in Norway and Sweden. Power production is sold on a continuous basis through bilateral agreements or through the spot market, Nordpool. Producing assets are entitled to electricity certificates and guarantees of origin. Producing assets are remotely controlled from operational centres and Cloudberry has operational agreements with local partners. Cloudberry Group, consolidated 2021 2020 Operating revenues NOK million 41 4 EBITDA NOK million (32) (30) Profit for the year NOK million (63) (34) Total assets NOK million 3 118 1 397 Cash NOK million 1 115 605 Net interest bearing debt NOK million (811) (342) Total equity NOK million 2 636 1 055 Equity share % 85% 76% Producing during the year 1 GWh 117 21 Secured portfolio (Producing and under construction) MW 150 109 Secured portfolio (construction permit) MW 160 71 Secured portfolio (Backlog) MW 370 380 1 Includes proportionate share of production from associated companies.
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