4.2 Cash and cash equivalents
(NOK THOUSAND) 31.12.2019 31.12.2018
Cash deposits 1 393 784 907 285
Short-term investments 509 162 104 278
Total 1 902 945 1 011 564
Cash deposits in banks are attributable to the Group’s cash pool arrangement and local bank accounts
held by the respective subsidiaries. Only subsidiaries owned 100 per cent by the Group are participants
in the cash pool. The net cash position in the Group’s cash pool per 31 December 2019 was NOK 190
million (2018: NOK 92 million).
Surplus cash in subsidiaries not participating in the cash pool is accessible through dividend distribution
and/or repayment of debt to Jotun A/S. Increased cash and cash equivalents is due to improved
financial performance.
Cash includes cash in hand and cash deposits in banks. Cash equivalents are short-term liquid
investments which are convertible into a known amount of cash on short notice and have a maximum
term to maturity of three months.
Cash and cash equivalents (NOK million)
Accounting policy
1 521 1 586
1 027 1 012
1 903
2 000
1 500
1 000
500
0
2015 2016 2017 2018 2019
Back to Notes for the Group
4.3 Net financial items
The Group has net financial items mainly comprising net interest expenses, foreign exchange gains and
losses and fair value changes of the Group’s financial instruments related to hedging.
Financial income
(NOK THOUSAND) 2019 2018
Fair value changes financial instruments 17 752 -
Interest income 33 434 23 413
Dividend 2 601 2 573
Net foreign exchange gain 13 362 4 062
Other financial income 18 446 14 976
Total 85 595 45 024
Financial cost
(NOK THOUSAND) 2019 2018
Fair value changes financial instruments - -27 686
Interest costs -236 206 -165 313
Net foreign exchange loss -43 020 -58 119
Other financial costs -47 942 -39 643
Total -327 168 -290 760
Net financial items -241 572 -245 736
Exchange gains and losses related to forwards and options in Jotun A/S have affected the net financial
Items with the following amounts:
(NOK THOUSAND) 2019 2018
Unrealised gain/loss (-) 17 752 -27 686
Realised gain/loss (-) -35 953 2 951
Unrealised part is reported as fair value changes financial instruments, while the realised part is reported
as foreign exchange gain or loss.
JOTUN GROUP
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