Norfund’s operations fall into five segments: Funds, Financial Institutions, Clean Energy, Green Infrastructure and Scalable Enterprises. The table below provides an overview of the results in each segment. The costs of shared functions have largely been allocated according to the number of employees in each segment and are recorded as part of other operating expenses.
| 2021 | ||||||||
|---|---|---|---|---|---|---|---|---|
| (Figures in 1000s of NOK) | Nofund total | Funds | Financial Institutions | Clean Energy | Green Infrastructure | Scalable Enterprises | Administration etc. | |
| Operating income | ||||||||
| Interest – invested portfolio | 297 674 | 1 125 | 196 332 | 57 949 | 329 | 41 939 | 0 | |
| Realised gains on shares | 4 794 267 | 0 | 0 | 4 794 267 | 0 | 0 | 0 | |
| Dividends received | 878 634 | 2 939 | 57 716 | 817 485 | 0 | 495 | 0 | |
| Other project revenues | 21 265 | 9 | 8 810 | 8 757 | 176 | 1 241 | 2 273 | |
| Total operating income | 5 991 841 | 4 074 | 262 857 | 5 678 458 | 505 | 43 675 | 2 273 | |
| Operating expenses | ||||||||
| Payroll expenses | -158 143 | -10 424 | -28 474 | -29 877 | -3 759 | -3 759 | -57 389 | |
| Depreciation tangible fixed assets | -2 767 | 0 | 0 | 0 | 0 | 0 | -2 767 | |
| Other operating expenses | -111 085 | -2 837 | -8 076 | -36 419 | -137 | -12 561 | -51 055 | |
| Allocation of shared expenses | 0 | -12 624 | -27 962 | -28 799 | 0 | -39 438 | 108 824 | |
| Total operating expenses | -271 993 | -25 885 | -64 511 | -95 095 | -3 896 | -80 218 | -2 387 | |
| Gain/loss (-) on FX, project loans | 198 299 | 546 | 110 246 | 69 548 | 18 | 17 941 | 0 | |
| Provision for (-)/reversal of (+) loss on projects | -390 365 | -49 725 | -293 923 | -61 525 | 0 | 14 808 | 0 | |
| Profit/loss on operations | 5 527 782 | -70 990 | 14 668 | 5 591 386 | -3 373 | -3 794 | -114 | |
| Net financial items** | 295 171 | -3 | 5 446 | 26 996 | -1 | -13 | 262 745 | |
| Profit/loss before tax | 5 822 952 | -70 993 | 20 114 | 5 618 382 | -3 374 | -3 808 | 262 631 | |
| Taxes | -7 655 | 0 | -7 655 | 0 | 0 | 0 | 0 | |
| Profit/loss for the year | 5 815 297 | -70 993 | 12 459 | 5 618 382 | -3 374 | -3 808 | 262 631 | |
*Income is directly attributable. Expenses that are not directly attributable are shared costs which are allocated in accordance with distribution formulae based on employee numbers. | ||||||||
| Balance Sheet (Investments and Loans) Net Book Values | |||||
|---|---|---|---|---|---|
| Norfund Total | Funds | Financial Institutions | Clean Energy | Scalable Enterprises | |
| Investments | 18 336 139 | 2 315 915 | 8 124 190 | 5 795 357 | 2 100 677 |
| Write-downs | -1 625 893 | -586 193 | -428 980 | -284 586 | -326 134 |
| Total investments per segment | 16 710 248 | 1 729 722 | 7 695 210 | 5 510 771 | 1 774 543 |
| Balance Sheet | Africa | Asia | America | Europe/Asia | Global | Write-downs | Total |
|---|---|---|---|---|---|---|---|
| Loans to investments | 2 067 739 | 1 162 300 | 1 691 095 | 28 599 | 0 | -145 867 | 4 803 865 |
| Equity investments | 10 148 836 | 2 250 599 | 973 987 | 12 984 | 0 | -1 480 026 | 11 906 381 |
| Total balance sheet | 12 216 575 | 3 412 899 | 2 665 082 | 41 583 | 0 | -1 625 892 | 16 710 248 |
| Interest income loans | 115 662 | 77 881 | 102 568 | 1 563 | 0 | 0 | 297 674 |
| Realised gain on shares | 2 157 420 | 2 636 847 | 0 | 0 | 0 | 0 | 4 794 267 |
| Dividends received | 399 645 | 440 569 | 38 420 | 0 | 0 | 0 | 878 634 |
| Other project revenues | 9 541 | 5 445 | 5 090 | 136 | 1 053 | 0 | 21 265 |
| Total operating income | 2 682 268 | 3 160 743 | 146 078 | 1 699 | 1 053 | 0 | 5 991 841 |
| Gain/loss on FX, project loans | 71 810 | 69 060 | 57 695 | 296 | -562 | 0 | 198 299 |