Basic HTML Version
REC Annual Report 2011
52
CONSOLIDATEDSTATEMENTOF INCOME
RECGROUP
(NOK INMILLION)
NOTES
2011
2010
Revenues
5
13 366
13 776
Cost of materials
13
-5 835
-5 498
Changes in inventories and write downs
13
85
518
Employee benefit expenses
24
-2 001
-2 211
Other operating expenses
22
-3 334
-3 284
Other income and expenses
23
586
231
EBITDA
2 867
3 532
Depreciation
6
-2 142
-2 395
Amortization
6
-135
-81
Impairment
6, 7
-10 097
-38
Total depreciation, amortization and impairment
-12 375
-2 514
EBIT
-9 508
1 018
Share of profit/loss of associates
8, 25
-97
1
Financial income
25
51
35
Net financial expenses
25
-693
-1 134
Net currency gains/losses
25
-7
544
Net gain/loss derivatives and fair value hedge
25
108
875
Impairment and gain/loss on financial assets
25
1
-1
Fair value adjustment convertible bond
25
841
481
Net financial items
205
801
Profit/loss before tax from continuing operations
-9 303
1 818
Income tax expense from continuing operations
18
-726
-930
Profit/loss for the period from continuing operations
-10 030
889
Profit/loss for the period from discontinued operations, net of tax
9
0
101
Profit/loss from the period from total operations
-10 030
989
Attributable to:
Owners of REC ASA
-10 030
989
Earnings per share for profit/loss attributable to the equity holders of REC ASA (in NOK per share)
From continuing operations
- basic
26
-10.06
0.96
- diluted
26
-10.06
0.51
From total operations
- basic
26
-10.06
1.07
- diluted
26
-10.06
0.61
EBITDA is earnings before net financial items, income taxes, depreciation, amortization and impairment.
EBIT is earnings before net financial items and income taxes.