Final accounts 2010


The 11th April, the Board of Solvang ASA approved the final year end report and accounts for 2010 for the group. There are some corrections compared to preliminary figures released the 28th February. These corrections are in relation to the result, the comprehensive income  and some balance sheet items for 2010 and similar changes to the corrected 2009 figures. In the profit and loss, the corrections are in relation to not payable taxes, in the comprehensive income statement the corrections are related to currency exchange differences when moving from functional currency  USD to the reporting currency NOK. In the balance sheet the corrections are consequences of the changes made in result and comprehensive income.

 

The changes are summarized in the table below:

 

Figures in mill NOK Final Preliminary Final
corrected 		Preliminary  
corrected
2010 2010 2009 2009
Profit and loss items    
   
Fiancial items 17,4 17,1 41,2 40,9
Earnings before tax -0,7 -1,0 -11,5 -11,8
Tax 14,5 14,1 131,4 123,2
Earnings of the period 13,8 13,1 119,9 111,4
   
Statement of Comprehensive income    
   
Changes in translation differences ship owning companies 2,8 -4,5 -81,2 -80,1
Tax on differences ship owning companies -0,8 1,3 22,7 22,4
Comprehensive income to the shareholders of Solvang ASA 15,8 9,8 61,4 53,7
   
Balance sheet items    
Deferred tax asset 89,4 76,5 76,6 70,1
Finical fixed assets 411,1 402,5 415,5 408,4
Other equity 403,5 392,3 387,1 381,9
Short term debt 82,6 72,3 85,7 77,2

 

The figures in the report for preliminary accounts 2010 are enclosed with corrected figures

Stavanger 12th of April 2011 

Solvang ASA

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Corrected figures 2010