| | | | MNOK |
| PROFIT AND LOSS ACCOUNT | Q1 2010 | Q1 2009 | 2009 | 2008 |
| Operating revenues | 3 110.5 | 3 357.7 | 15 923.4 | 20 225.7 |
| Operating expenses | -3 055.0 | -3 374.2 | -14 994.9 | -18 959.3 |
| Operating profit before depreciation (EBITDA) | 55.5 | -16.5 | 928.5 | 1 266.4 |
| Deprecation goodwill | - | - | - | -4.2 |
| Depreciation | -84.8 | -80.5 | -335.6 | -291.8 |
| Operating profit (EBIT) | -29.3 | -97.0 | 592.9 | 970.4 |
| Share of profit associated companies and joint ventures | -1.6 | -9.5 | 46.7 | 135.4 |
| Financial income | 7.1 | 20.3 | 66.3 | 112.3 |
| Financial expenses | -5.2 | -51.6 | -77.5 | -209.4 |
| Earnings before tax (EBT) | -29.0 | -137.8 | 628.4 | 1 008.7 |
| Income tax expense | 7.3 | 26.2 | -118.5 | -221.9 |
| Earnings after tax | -21.7 | -111.6 | 509.9 | 786.8 |
| of which minorities | 0.3 | 0.7 | 9.2 | 4.2 |
| Earnings per share (NOK) * | -0.2 | -0.8 | 3.7 | 5.8 |
| *No dilution effect | | | | |
| | | | | |
| EXTENDED PROFIT AND LOSS ACCOUNT ACCORDING TO IAS 1 | Q1 2010 | Q1 2009 | 2009 | 2008 |
| Earnings after tax | -21.7 | -111.6 | 509.9 | 786.8 |
Profit and loss items entered directly against equity: Currency conversion differences | -9.4 | -46.0 | -95.0 | 65.0 |
| Value adjustments financial assets at fair value | - 11.2 | -17.2 | 6.8 | -39.8 |
| Total profit | -42.3 | -174.8 | 421.7 | 812.0 |
| of which minorities | 0.3 | 0.7 | 9.2 | 4.2 |
| | | | |
| | | | |
| STATEMENT OF CASH FLOWS | 1 Jan - 31 Mar 2010 | 1 Jan - 31 Mar 2009 | | |
| Earnings before tax (EBT) | -29.0 | -137.8 | | |
| Tax paid | -45.9 | -40.6 | | |
| Depreciation | 84.3 | 80.5 | | |
| Other operating capital etc. | -462.5 | 371.8 | | |
| Cash flow from operating activities | -453.1 | 273.9 | | |
| Purchase/sale of tangible non-current assets | -74.0 | -150.5 | | |
| Other investment activities | -5.5 | -2.9 | | |
| Cash flow from investment activities | -79.5 | -153.4 | | |
| Change in interest-bearing assets | 2.7 | 5.4 | | |
| Change in interest-bearing liabilities | 565.6 | -261.8 | | |
| Distribution of dividends | - | - | | |
| Purchases own shares | - | - | | |
| Other financial items | -0.8 | -18.6 | | |
| Cash flow from financing activities | 567.5 | -275.0 | | |
| Change in cash and cash equivalents | 34.9 | -154.5 | | |
| | | | | |
| Cash and cash equivalents. 1 January | 144.1 | 354.0 | | |
Exchange rate adjustment foreign liquid reserves
| 0.1 | -3.5 | | |
| Cash and cash equivalents. 31 March | 179.1 | 196.0 | | |
| | | | |
| | | | |
| NET INTEREST-BEARING POSITION | At 31 Mar 2010 | At 31 Mar 2009 | At 31 Dec 2009 | |
| Cash and cash equivalents | 179.1 | 196.0 | 144.1 | |
| Interest-bearing assets (long-term) | 261.3 | 265.4 | 264.0 | |
| Interest-bearing liabilities | -872.3 | -623.0 | -306.7 | |
| Net interest-bearing position | -431.9 | -161.6 | 101.4 | |
Change in net interest-bearing position (from 1 January)
| -533.3 | 98.4 | 635.1 | |
| | | | |
| | | | |
| OTHER KEY FIGURES | At 31 Mar 3010 | At 31 Mar 2009 | At 31 Dec 2009 | At 31 Dec 2008 |
| Orders-on-hand, Construction (MNOK) | 12 045 | 9 941 | 12 334 | 10 564 |
| Equity ratio (%) | 23.8 | 21.3 | 25.7 | 21.5 |
| Average number of employees | 5 858 | 6 116 | 5 925 | 6 431 |
| | | | |
| | | | |
| STATEMENT OF FINANCIAL POSITION | At 31 Mar 2010 | At 31 Mar 2009 | At 31 Dec 2009 | At 31 Dec 2008 |
| ASSETS | | | | |
| Non-current assets | | | | |
| Goodwill | 521.5 | 537.2 | 523.0 | 556.6 |
| Other intangible assets | 26.8 | 25.2 | 26.7 | 26.8 |
| Property | 507.2 | 571.4 | 510.5 | 576.4 |
| Machinery etc. | 1 195.5 | 1 250.0 | 1 206.2 | 1 200.0 |
| Investments in associated companies and joint ventures | 650.5 | 505.3 | 637.7 | 644.7 |
| Deferred tax assets | 79.3 | 35.9 | 79.3 | 35.9 |
| Financial assets | 324.6 | 299.6 | 317.1 | 303.2 |
| Total non-current assets | 3 305.4 | 3 224.6 | 3 300.5 | 3 343.6 |
| | | | | |
| Current assets | | | | |
| Non-residential and residential projects | 1 919.8 | 2 132.3 | 1 909.2 | 2 239.3 |
| Stocks | 469.1 | 315.2 | 265.9 | 322.5 |
| Accounts receivable and other receivables | 2 420.5 | 2 567.0 | 2 240.5 | 2 937.2 |
| Liquid assets | 179.1 | 196.0 | 144.1 | 354.0 |
| Total current assets | 4 988.5 | 5 210.5 | 4 559.7 | 5 853.0 |
| | | | | |
| Total assets | 8 293.9 | 8 435.1 | 7 860.2 | 9 196.6 |
| | | | | |
| EQUITY AND LIABILITIES | | | | |
| Equity | | | | |
| Share capital | 66.9 | 68.0 | 66.9 | 68.0 |
| Other equity | 1 876.9 | 1 704.6 | 1 919.5 | 1 880.1 |
| Minority interests | 32.7 | 24.8 | 35.3 | 24.9 |
| Total equity | 1 976.5 | 1 797.4 | 2 021.7 | 1 973.0 |
| | | | | |
| Long-term liabilities | | | | |
| Pension liability and deferred tax | 327.3 | 342.9 | 424.0 | 332.7 |
| Other long-term liabilities | 872.3 | 555.5 | 305.6 | 884.4 |
| Annen langsiktig gjeld | 47.7 | 96.9 | 45.6 | 114.7 |
| Total long-term liabilities | 1 247.3 | 995.3 | 775.2 | 1 331.8 |
| | | | | |
| Short-term liabilities | | | | |
| Debt to credit institutions etc. | - | - | 1.1 | 0.4 |
| Creditors. guarantee funds | 3 439.4 | 3 499.5 | 3 336.3 | 3 499.8 |
| Unpaid government charges | 284.6 | 524.9 | 436.6 | 715.7 |
| Other short-term liabilities | 1 346.1 | 1 618.0 | 1 289.3 | 1 675.9 |
| Total short-term liabilities | 5 070.1 | 5 642.4 | 5 063.3 | 5 891.8 |
| | | | | |
| Total equity and liabilities | 8 293.9 | 8 435.1 | 7 860.2 | 9 196.6 |
