three green bullets

Financial statements

The consolidated financial statements of Norsk Hydro ASA and its subsidiaries are prepared in accordance with International Financial Reporting Standards (IFRS) as issued by the International Accounting Standards Board (IASB), that are also approved by the European Union and Norwegian authorities and effective as of 31 December 2007.

9,158 income form continuing operations in 2007 in NOK million


Key figures

NOK million 2007 2006
Revenue 94,316 98,752
Income from continuing operations 9,158 5,966
Total assets 92,046 234,459
Total equity 55,008 96,601
Net cash provided by continuing operating activities   14,273 9,926

 

Highlights

IFRS conversion
The financial statements for the fiscal year ended 31 December 2007 are Hydro’s first IFRS financial statements. Hydro’s date of transition to IFRS is 1 January 2006.

Prior to adoption of IFRS, Hydro’s primary financial statements were prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP).

The financial statements have been prepared on a historical cost basis except as regards certain assets, liabilities and financial instruments, which are at fair value.

The functional currency of Norsk Hydro ASA is the Norwegian krone (NOK). The Hydro group accounts are presented in NOK.

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Updated: December 3, 2008
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