Value changes include the effect on earnings of updated valuations (write-down and reversal of previous write-downs) and currency effects associated with Norfund investments and receivables. Norfund’s profit has been substantially affected by currency effects due to a weaker Norwegian krone against Norfund’s primary currency, USD. In the table below, all currency effects associated with the various investments and other receivables are presented. Other receivables are mainly associated with vendor credit (see Note 11).
| Realized losses and value changes | ||
|---|---|---|
| Value changes (in 1000s of NOK) | 2024 | 2023 |
| Total change in value investments | 1,915,244 | 226,431 |
| Total change in value other receivables | 239,841 | 61,410 |
| Total value changes | 2,155,084 | 287,840 |
| Value change investments excl. forex | -451,503 | -225,373 |
| Value change other receivables excl. forex | -2,768 | -1,199 |
| Total change in value excl. forex | -454,271 | -226,572 |
| Currency effects investments | 2,366,747 | 451,803 |
| Currency effects “Other receivables” | 242,609 | 62,609 |
| Total change in value due to currency effects | 2,609,356 | 514,412 |
| Realized losses (in 1000s of NOK) | ||
| Realized loss on investments excl. forex | -391,271 | -121,101 |
| Realized currency effects | 165,140 | -213 |
| Total realized loss incl. forex | -226,131 | -121,313 |
| Total value changes and realized losses | 1,928,954 | 166,527 |