Operating revenues and operating profit*

Operating revenues

Operating profit*

* Before amortisation and other revenues and expenses

• Third quarter operating profit before amortisation was 15 % higher than last year, totalling NOK 1,220 million. All the business areas in the Industry division achieved profit growth.
• Branded Consumer Goods reported both sales and profit growth on the Nordic market, while certain markets outside the Nordic region remain challenging.
• The positive effects of restructuring and improvement projects and the continuing good markets for Sapa in Europe contributed to strong profit growth for Speciality Materials.
• Good underlying² development in the value of the investment portfolio. At quarter-end, the return on the portfolio was 14 %, which was higher than both the Oslo Stock Exchange Benchmark Index and the Morgan Stanley Nordic Index. Due to low realised gains, however, book profit from the Financial Investments division was lower than last year.
• The sale of the Media business has been completed as planned and the net contribution to profit from the discontinued operations amounted to
  NOK 4,144 million at the end of the third quarter.
• Group pre-tax profit totalled NOK 1,461 million in the third quarter
  (NOK 1,807 million)¹.  So far this year, Group earnings per share diluted amount to NOK 41.9 (NOK 20.2)¹, of which the net contribution to profit from discontinued operations was NOK 20.0 per share.

1 The figures in brackets are for the same period last year
2 Excluding acquisitions, divestments and currency translation effects