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Income statement (NoK)

Operating income and operating expenses

Note

2018

2017

Operating income

53 045 773

44 933 262

Project expenses Personnel expenses Depreciation of operating and intangible assets Other operating expenses

12 692 521 26 820 751 18 360 13 699 564

7 126 913 24 569 170 0 12 536 757

2,3 4 2

Operating expenses

53 231 196

44 232 840

Operating profit

-185 423

700 422

Financial income and expenses Interest income Other financial income Interest expenses Other financial expenses Net financial income and expenses

112 211 1 181 400

24 789 1 280 141 492 094 1 539 071 –258 930

376 656 544 518 372 437

7

Ordinary result

187 014

441 491

Annual net profit

187 014

441 491

Brought forward Net brought forward

187 014

441 491

Note 1 Accounting principles

of the balance sheet date, as well as items that relate to the stock cycle. Current assets are valued at the lower of acquisition cost and fair value. Shares in subsidiaries Subsidiaries are valued using the cost method in the company accounts. The investment is valued at acquisition cost for the shares unless a write-down has been necessary. A write-down to fair value is made when a fall in value is due to reasons that cannot be expected to be temporary and such write-downmust be considered as necessary in accordance with good accounting practice. Write-downs are reversed when the basis for the write- down is no longer present. Receivables Receivables from customers and other receivables are entered at par value after deducting a provision for expected losses. The provision for losses is made on the basis of an individual assessment of the respective receivables. Foreign currency Monetary foreign currency items are valued at the exchange rate on the balance sheet date.

The annual accounts have been prepared in conformity with the Accounting Act, Foundations Act and NRS 8 - Good accounting practice for small companies. Operating revenues Income from the sale of services are posted to income as they are delivered. Cost recognition/matching Costs are expended in the same period as the income to which they relate is recognised. Cost that cannot be directly to income are expensed as incurred. Classification and valuation of fixed assets Fixed assets include assets included for long-term ownership and use. Fixed assets are valued at acquisition cost. Property, plant and equipment are entered in the balance sheet and depreciated over the asset’s economic lifetime.. Classification and valuation of current assets Current assets and short-term liabilities normally include items that fall due for payment within one year

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