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Jotun Group
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
EQUITY HOLDERS OF THE PARENT COMPANY
(NOK million) Note
Share
capital
Other
equity
Translation
differences Total
Non-
controlling
interests
Total
equity
Equity as of 1 January 2019 103 7 242 900 8 245 224 8 469
Dividends 5.8 -428 -428 -58 -485
Profit for the year 1 468 1 468 81 1 549
Other comprehensive income 27 -8 19 12 31
Share capital increase - - - 20 20
Equity as of 31 December 2019 103 8 310 892 9 305 280 9 584
Dividends 5.8 -547 -547 -79 -626
Profit for the year 2 280 2 280 98 2 378
Other comprehensive income -54 -182 -236 6 -230
Share capital increase - - - 22 22
Equity as of 31 December 2020 103 9 989 710 10 802 326 11 128
CONSOLIDATED STATEMENT OF CASH FLOWS
(NOK million) Note 2020 2019
Cash flow from operating activities
Operating profit 3 489 2 320
Adjustments to reconcile operating profit to net cash flows:
Share of profit from associates and joint ventures 2.2, 5.5 -746 -497
Dividend paid from associates and joint ventures 5.5 559 556
Depreciation, amortisation and impairment 3.2, 3.3 824 810
Change in accruals, provisions and other -290 36
Working capital adjustments:
Change in trade and other receivables 287 -147
Change in trade payables 220 84
Change in inventories -48 11
Cash generated from operating activities 4 294 3 173
Interest received 4.3 31 33
Interest paid 4.3 -185 -236
Other financial items -117 -39
Income tax payments -752 -484
Net cash flow from operating activities 3 272 2 448
Cash flows used for investing activities
Proceeds from sale of property, plant and equipment 18 13
Purchase of property, plant and equipment 3.3 -1 296 -1 176
Purchase of intangible assets 3.2 -111 -288
Share capital increase in non-controlling interests 22 20
Net cash flow used for investing activities -1 367 -1 431
Cash flows from financing activities
Proceeds from borrowings 1 020 1 980
Repayment of borrowings -1 036 -1 491
Payment of principal portion of lease liabilities -138 -150
Dividend paid to equity holders of the parent company 5.8 -547 -428
Dividend paid to non-controlling interests -79 -58
Net cash flow from financing activities -780 -147
Net increase / decrease (-) in cash and cash equivalents 1 125 870
Net currency translation effect -72 21
Cash and cash equivalents as of 1 January 4.2 1 903 1 012
Cash and cash equivalents as of 31 December 4.2 2 956 1 903
Cash generated from operating activities (NOK million)
2 633
1 574
1 745
3 173
4 294
2016 2017 2018 2019 2020
18 I Jotun Annual Report 2020