GRID-Arendal: Board Report 2010

NOTE 1

Balance sheet (NoK) 31.12

31.12.10

31.12.09

Fixed Assets Machine and equipment Investment in subsidiaries Total fixed assets

190,240 3,012,000 3,202,240

217,752 3,012,000 3,229,752

2 6

Current assets Accounts receivable

896,461 561,273 4,183,144

2,177,076 1,182,876 3,700,293 9,701,528 16,761,772

Other receivables Work in progress Petty cash and bank accounts Total current assets

5 7

12,287,048 17,927,926

Total assets

21,130,166

19,991,524

Equity Foundation capital Total paid in capital Retained earnings Total equity

500,000 500,000

500,000 500,000 9,967,691 10,467,691

8,755,647 9,255,647

Long term liabilities Pension liabilities Loan Total long term liabilities

550,000 0 550,000

250,000 0 250,000

4

Short term liabilities Accounts payable trade Employee taxes withheld, payable social security etc. Accrued salaries and vacation fees Other current liabilities Total short term liabilities

2,667,246 1,575,277 1,728,472 5,353,524 11,324,519

1,914,104 1,532,066 1,673,157 4,154,506 9,273,833

Total equity and liabilities

21,130,166

19,991,524

Arendal, 28 March 2011

Olav Orheim Chairman of the Board

Katarina Eckerberg

Peter Gilruth

Peter Prokosch Managing Director

Øystein Dahle

Yannick Beaudoin (staff representative)

Randi Eidsmo Reinertsen

Klaus Liedtke

Kari Nygaard

Berit Lein

4