3 INTRODUCTION GROUP KEY FIGURES (NOK MILLION) PROFIT/LOSS 2015 2014 2013 2012 2011 Operating revenue 16 282 13 171 12 034 11 351 10 659 Operating revenue outside Norway in % 86 83 82 80 77 Operating profit 2 064 1 314 1 258 1 126 956 Profit before tax 1 918 1 301 1 191 1 055 893 Net cash flow from operating activities 1 500 919 819 902 303 PROFITABILITY Return on capital employed, in % 1) 24.2 17.2 20.0 19.5 18.3 Operating margin, in % 2) 12.7 10.0 10.5 9.9 9.0 Return on equity, in % 3) 17.9 14.0 15.5 15.8 13.1 YEAR-END FINANCIAL POSITIONS Total assets 15 187 13 300 10 799 9 317 9 140 Investments in intangible and fixed assets 922 911 733 590 867 Equity (including non-controlling interests) 7 932 6 739 5 515 5 016 5 028 Equity / assets ratio, in % 52.2 50.7 51.1 53.8 55.0 Number of employees in the Group 7 415 7 158 6 695 6 379 5 884 Number of employees in the Group, including 100 per cent in joint ventures and associated companies 9 842 9 676 8 991 8 740 8 296 DEFINITIONS 1) Return on capital employed % = 1972 1974 1976 1978 1980 1982 Operating profit + amortisation of intangible assets 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 2012 2014 2015 SALES EBITA 21 000 18 000 15 000 12 000 9 000 6 000 3 000 0 2 100 1800 1500 1200 900 600 300 0 SALES AND EBITA DEVELOPMENT (NOK MILLION) x 100 Average capital employed 2) Operating margin % = Operating profit x 100 Operating revenue 3) Return on equity % = Total comprehensive income for the year x 100 A verage equity
Jotun - Annual Report 2015
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