Annual accounts

Profit and Loss Statement

Årsregnskap - Resultatregnskap - EN
AMOUNTS IN NOK MILL.NOTE20162015
OPERATING REVENUES 
Gaming revenues   1 32,029 29,742
Other operating revenues 10 28
TOTAL OPERATING REVENUES 32,039 29,770
OPERATING EXPENSES
Prizes 24,349 22,508
Gaming commissions to agents 828 847
Salary and personnel expenses2 383 385
Depreciations and write-downs5 234 279
Other operating expenses 2, 3 1,262 1,324
TOTAL OPERATING EXPENSES 27,056 25,343
OPERATING RESULT4,9834,427
Financial revenues4 40 65
Financial expenditures4 21 7
NET PROFIT OR LOSS FOR THE YEAR13 5,002 4,485
NET PROFIT FOR THE YEAR IS DISTRIBUTED AS FOLLOWS:
To the Tippenøkkelen fixed distribution formula 4,336 3,785
To the Grasrotandelen (Grassroots) fund 447 394
To the Extra Foundation for Health and Rehabilitation* -  231
To the Bingo Operator's Profits for Good Causes 63 59
To measures to combat gambling dependency 6 15
Transferred to other equity 150 0
TOTAL ALLOCATION 5,002 4,485

*From 2016, good causes related to Health and Rehabilitation are incorporated into the Tippenøkkelen fixed distribution formula.

Balance

Assets

Årsregnskap - Balanse - Eiendeler - EN
AMOUNTS IN NOK MILL.NOTE20162015
ASSETS
NON-CURRENT ASSETS
INTANGIBLE ASSETS
Intangible assets5 186  240 
TOTAL INTANGIBLE ASSETS 186  240 
FIXED ASSETS
Land, buildings and other real property5 234  232 
Vehicles, machinery, inventories and equipment5 369  353 
TOTAL FIXED ASSETS 603  585 
NON-CURRENT FINANCIAL ASSETS
Investments in subsidiaries 6 1  1 
Investments in affiliated companies6 32  32 
Other long-term receivables8 31  34 
TOTAL NON-CURRENT FINANCIAL ASSETS 64  67 
TOTAL NON-CURRENT ASSETS 853  892 
CURRENT ASSETS
Inventories9 0  0 
RECEIVABLES
Agent receivables10 100  122 
Other receivables11 101  184 
TOTAL ACCOUNTS RECEIVABLE 201  306 
CASH AND CASH EQUIVALENTS17 4,899  4,037 
TOTAL CURRENT ASSETS 5,101  4,342 
TOTAL ASSETS 5,954  5,234 

Equity and liabilities

Årsregnskap - Balanse - Egenkapital og gjeld - EN
AMOUNTS IN NOK MILL.NOTE20162015
EQUITY AND LIABILITIES
EQUITY 
SHAREHOLDERS EQUITY
Share capital12 0.2  0.2 
TOTAL CONTRIBUTED EQUITY 0.2  0.2 
RETAINED EARNINGS
Non-distributable equity fund13 150  150 
Investment fund13 9  9 
Other equity13 205  55 
TOTAL RETAINED EARNINGS 364  214 
TOTAL EQUITY 364  214 
LIABILITIES
PROVISIONS
Pension liabilities16 109  87 
TOTAL PROVISIONS 109  87 
TOTAL NON-CURRENT LIABILITIES 109  87 
CURRENT LIABILITIES
Trade payables 165  109 
Undistributed prizes 129  70 
Pre-paid stakes 171  220 
Public duties payable 31  30 
Other current liabilities14 673  681 
Residual profits payable15 4,312  3,823 
TOTAL CURRENT LIABILITIES 5,481  4,933 
TOTAL LIABILITIES 5,589  5,020 
TOTAL EQUITY AND LIABILITIES 5,954  5,234 

Linda Bernander Silseth

Board Chair

Bjørn Maaseide

David Hansen

Anne Lise Meyer

Bjørn Vidar Mathisen

Kjersti Langseth

Kari Skedsvoll Moe

Åsne Havnelid

Managing Director

Statement of Cash Flow

Årsregnskap - Kontantstrømoppstilling - EN
AMOUNTS IN NOK MILL.NOTE20162015
CASH FLOWS FROM OPERATIONAL ACTIVITIES
Financial result 5,0024,485
Gains/losses on sale of non-current assets500
Ordinary depreciations5234242
Write-downs of non-current assets5036
Changes in agent receivables1023-120
Changes in other short-term receivables, current assets and stocks118328
Changes in accounts payable to suppliers57-28
Change in pension plan liabilities162120
Changes in other long-term receivables34
NET CASH FLOW FROM OPERATIONAL ACTIVITIES5,4224,670
CASH FLOW FROM INVESTMENTS
Revenues from sales of fixed assets00
Purchases of fixed assets5-198-110
NET CASH FLOW FROM INVESTMENTS-198-110
CASH FLOW FROM FINANCING ACTIVITIES
Net changes in short-term liabilities0-9
Net changes in other equity00
Payments and provisions -4,363-4,233
NET CASH FLOW FROM FINANCING ACTIVITIES-4,363-4,242
Net change in cash reserves 862317
Cash reserves at start of period4,0373,720
Cash reserves at close of period4,8994,037

Norsk Tipping AS employs the indirect method in the preparation of its cash flow statement.

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