INCOME STATEMENT
(NOK million) Note 2020 2019
Operating revenue 2.1, 5.5 4 049 3 625
Cost of goods sold 5.5 -1 832 -1 597
Payroll expense 2.2, 5.2 -1 108 -991
Other operating expenses 2.3, 5.4, 5.5 -692 -850
Depreciation, amortisation and impairment 3.1, 3.2, 5.4 -228 -174
Operating profit 189 11
Dividend from subsidiaries 852 525
Dividend from associates and joint ventures 644 573
Net financial items 4.3, 4.4, 5.4, 5.5 -517 -296
Profit before tax 1 168 813
Income tax expense 5.1 -197 -174
Profit for the year 970 639
STATEMENT OF COMPREHENSIVE INCOME
(NOK million) Note 2020 2019
Profit for the year 970 639
Other comprehensive income not to be reclassified to profit or loss in
subsequent periods:
Actuarial gain / loss (-) on defined benefit pension plans (net of tax) 5.2 -3 4
Other comprehensive income for the year, net of tax -3 4
Total comprehensive income for the year 967 643
STATEMENT OF FINANCIAL POSITION
(NOK million) Note 31.12.2020 31.12.2019
ASSETS
Non-current assets
Deferred tax assets 5.1 132 167
Other intangible assets 3.1 563 756
Property, plant and equipment 3.2, 5.4 2 283 2 097
Investments in subsidiaries 5.6 3 164 3 064
Investments in associates and joint ventures 5.7 318 318
Share investments 5.8 8 8
Other non-current receivables 4.1, 4.4, 5.4, 5.5 2 345 2 398
Total non-current assets 8 812 8 808
Current assets
Inventories 3.3 524 505
Trade and other receivables 3.4, 5.5 1 105 913
Cash and cash equivalents 4.1, 4.2 995 725
Total current assets 2 624 2 143
Total assets 11 436 10 951
EQUITY AND LIABILITIES
Equity
Share capital 5.9 103 103
Other equity 6 050 5 630
Total equity 6 153 5 733
Non-current liabilities
Pension liability 5.2 169 152
Provisions 3.6 276 236
Interest-bearing debt 4.1 2 428 3 007
Total non-current liabilities 2 873 3 395
Current liabilities
Interest-bearing debt 4.1 570 175
Trade and other payables 5.5 449 418
Tax payable 5.1 23 75
Other current liabilities 3.5, 3.6, 4.1, 5.5 1 369 1 154
Total current liabilities 2 410 1 823
Total liabilities 5 284 5 218
Total equity and liabilities 11 436 10 951
Sandefjord, Norway, 18 February 2021
The Board of Directors
Jotun A/S
Morten Fon
President & CEO
Odd Gleditsch d.y.
Chairman
Jannicke Nilsson
Einar Abrahamsen
Nicolai A. Eger
Kai Roger Johansen
Camilla Hagen Sørli
Terje Andersen
Per Kristian Aagaard
Back to contents >
Jotun A/S
52 I Jotun Annual Report 2020