| | | | | | MNOK |
| | Q4 2009 | Q4 2008 | 2009 | 2008 | 2007 |
| Industry | | | | | |
| Operating revenues | 754.5 | 719.1 | 2 968.0 | 3 292.6 | 2 906.9 |
| Operating expenses | -701.4 | -674.7 | -2 777.4 | -3 030.0 | -2 637.6 |
| Depreciation | -46.8 | -40.5 | -162.4 | -152.6 | -118.7 |
| Operating profit (EBIT) | 6.3 | 3.9 | 28.3 | 110.0 | 150.6 |
Share of profit associated companies
and joint ventures | 3.4 | -1.5 | 10.5 | 41.7 | 19.8 |
| Net financial items | -1.1 | -30.9 | -31.7 | -83.6 | -40.3 |
| Earnings before tax (EBT) | 8.6 | -28.5 | 7.1 | 68.1 | 130.1 |
| Total assets business area | 1 705.4 | 1 815.6 | 1 705.4 | 1 815.6 | 1 569.1 |
The Norwegian Industry Division’s operations are nation-wide and its business areas are asphalt, crushed stone and gravel, road maintenance and recycling of industrial waste. In Sweden, Veidekke has operations within the areas of asphalt, crushed stone and gravel, but at present, these activities are very limited.
In the fourth quarter, the Norwegian industry division, Veidekke Industri, achieved a total turnover of MNOK 755 (MNOK 719). Earnings before tax were MNOK 8.6 (MNOK -28.5), which corresponds to a profit margin of 1.1 per cent (-4.0 per cent). In 2008, the fourth quarter result reflected allocations of MNOK 35 made for future loss within road maintenance.
The asphalt operations maintained a good level of activity and a high production volume throughout the fourth quarter, and this led to a satisfactory profitability. The total asphalt volume for 2009 was up 5 per cent compared with 2008.
Crushed stone and gravel operations achieved excellent volumes during the last half of 2009, following a decline in volumes in the first months of the year. For the year as a whole, volumes within crushed stone and gravel decreased by approx. 5 per cent compared with the previous year. The operations achieved satisfactory results.
The results within road maintenance were as expected for the fourth quarter, following a substantial allocation for future loss in the third quarter.
Within recycling, the fourth quarter volumes turned out somewhat lower than in the same quarter of 2008. For the year as a whole, there was a decline in volumes of approx. 15 per cent, and the profit performance was not satisfactory.
