Financial statements
CONSOLIDATED INCOME STATEMENT
Financial performance
(NOK million) 2020 2019
Operating revenue 21 070 19 652
Share of profit from associates and joint ventures 746 497
Cost of goods sold -10 643 -10 441
Payroll expenses -3 277 -3 128
Other operating expenses -3 584 -3 449
Depreciation, amortisation and impairment -824 -810
Operating profit 3 489 2 320
Net financial items -331 -242
Profit before tax 3 158 2 079
Income tax expense -780 -529
Profit for the year 2 378 1 549
Profit for the year attributable to:
Equity holders of the parent company 2 280 1 468
Non-controlling interests 98 81
Total 2 378 1 549
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(NOK million) 2020 2019
Profit for the year 2 378 1 549
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) -13 -8
Other comprehensive income to be reclassified to profit or
loss in subsequent
periods:
Gain / loss (-) on hedge of net investments in foreign operations
(net of tax) -41 35
Currency translation differences in foreign operations -176 4
Other comprehensive income for the year, net of tax -230 31
Total comprehensive income for the year 2 148 1 580
Total comprehensive income attributable to:
Equity holders of the parent company 2 044 1 487
Non-controlling interests 104 93
Total 2 148 1 580
Jotun Group Report 2020 I 75