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CONSOLIDATED INCOME STATEMENT
(NOK million) Note 2021 2020
Operating revenue 2.1 22 809 21 070
Share of profit from associates and joint ventures 5.5 496 746
Cost of goods sold 2.1 -12 480 -10 643
Payroll expenses 2.2 -3 389 -3 277
Other operating expenses 2.3 -3 421 -3 584
Depreciation, amortisation and impairment 3.2, 3.3 -876 -824
Operating profit 3 138 3 489
Net financial items 4.3 -248 -331
Profit before tax 2 890 3 158
Income tax expense 5.1 -779 -780
Profit for the year 2 111 2 378
Profit for the year attributable to:
Equity holders of the parent company 1 998 2 280
Non-controlling interests 113 98
Total 2 111 2 378
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
(NOK million) Note 2021 2020
Profit for the year 2 111 2 378
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 -8 -13
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) 15 -41
Currency translation differences in foreign operations -90 -176
Other comprehensive income for the year, net of tax -83 -230
Total comprehensive income for the year 2 028 2 148
Total comprehensive income attributable to:
Equity holders of the parent company 1 913 2 044
Non-controlling interests 115 104
Total 2 028 2 148
Operating revenue (NOK million)
Revenue growth (in %)
Operating profit (NOK million)
Operating margin (in %)
1 354 1 361
8.3 %
2017
2 320
3 489
3 138
7.7 %
11.8 %
16.6 %
13.8 %
2018 2019 2020 2021
16 401 17 660
4 %
2017
19 652 21 070
22 809
8 % 11 %
7 % 8 %
2018 2019 2020 2021
Jotun Group
16 I Jotun Annual Report 2021