PROFIT AND LOSS ACCOUNT VEIDEKKE GROUP

(Figures in MNOK)	Note	2009	2008	2007

Operating revenues	1, 2, 6, 32, 34	15 558.0	19 395.3	19 335.9

Subcontractors		-6 301.2	-8 389.2	-8 350.2
Cost of materials		-3 197.4	-4 485.7	-4 971.3
Wages	3, 4, 21, 31	-3 826.8	-4 138.9	-3 840.8
Other operating expenses		-1 402.1	-1 303.5	-1 067.7
Depreciation of goodwill	8	-	-4.2	-
Depreciation	10	-335.6	-291.8	-233.6

Total operating expenses		-15 063.1	-18 613.3	-18 463.6

Operating profit		494.9	782.0	872.3

Result from investment in associated companies and joint ventures	12, 34	26.0	123.3	325.8

Financial income	5, 30	65.8	112.2	80.4
Financial expenses	5, 30	-63.6	-201.9	-97.5

Earnings before tax		523.1	815.6	1 181.0

Income tax expense	22	-111.5	-200.1	-179.9

Profit for the year		411.6	615.5	1 001.1

Profit for the year attributable to

Equity holders of Veidekke ASA		402.4	611.3	989.7
Non-controlling interests		9.2	4.2	11.4
Total		411.6	615.5	1 001.1

Earnings per share (NOK) (ordinary/diluted)	7	3.0	4.5	7.1

Statement of comprehensive income
(Figures in MNOK)	Note	2009	2008	2007

Net profit		411.6	615.5	1001.1

Other income and expenses
Currency conversion differences		-105.6	75.6	-31.1
Value adjustments financial assets at fair value*)	30	6.8	-39.8	29.2

Total income		312.8	651.3	999.2

Total income distributed over
Equity holders of Veidekke ASA		303.6	647.1	987.8
Non-controlling interests		9.2	4.2	11.4
Total		312.8	651.3	999.2
*) Value adjustment financial assets at fair value applies to investment in joint venture companies accounted for using the equity method.

Annual Report 2009