The Statoil group’s net income in 2004 came to NOK 24.9 billion, which is NOK 8.4 billion more than in 2003.
Income before financial items, other items, tax and minority interest totalled NOK 65.1 billion, as against NOK 48.9 billion the year before.
The return on average capital employed after tax was 23.5 per cent, as against 18.7 per cent in 2003. Normalised for market factors, the return on capital employed was 12.3 per cent in 2004, which exceeds the target of 12 per cent for 2004 that was presented at the time of the flotation in 2001.
The board is satisfied that Statoil to a large extent met the targets that were set
in 2001 for 2004.
Published 2005-03-31, 00:00 CET | Updated 2008-06-03, 15:14 CET