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11104
Profitable despite decline in income
statistikk
2010-11-26T10:00:00.000Z
Public sector
en
attregn, Local government owned rehabilitation enterprises, accounts (discontinued), profit and loss account, balance sheet, training enterprises, handicapped in choice of occupationLocal government finances , Public sector
false

Local government owned rehabilitation enterprises, accounts (discontinued), 2005-2009

This statistics has been discontinued.

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Profitable despite decline in income

Rehabilitation enterprises owned by the local government achieved a profitable accounting year in 2009, although profit before tax declined by some NOK 58 to NOK 119. These enterprises employed about 23 700 persons.

The profit before tax was about NOK 119 million, which was approximately 1.7 per cent of the operating income. In 2008, the corresponding figures were NOK 177 million and 2.6 per cent respectively. The operating income for 2009 was NOK 6 787 million; a decrease of NOK 100 million from 2008. The operating expenses during the period were approximately NOK 6 642; the same as in 2008.

The enterprises received NOK 2 900 million in public subsidies in 2009. This was an increase of NOK 180 million from the previous year, or 6.6 per cent.

Improved liquidity

At the end of 2009, the local government owned enterprises’ total assets were estimated to be NOK 5 690 million. This was an increase of about NOK 80 million or 1.4 per cent from 2008. The value of the enterprises’ fixed assets increased by NOK 113 million or 3.6 per cent. During the same period, the value of the enterprises’ current assets related to the sale of goods and services declined by NOK 32 million or 1.3 per cent.

The enterprises achieved positive liquidity and working capital. The current ratio has been approximately 2 during the whole period. This implies that the value of the current assets which were transformed into liquidity were double the short-term liabilities.

All in all, the enterprises’ financial situation has been relatively stable and the financing ratio has been about 0.7 during the period. The financing ratio is the fixed assets in proportion to the long-term capital.

Development

The number of local government owned enterprises has been relatively stable during the last five years but has been declining in the last three years. There were 301 local government owned enterprises by the end of 2009. The decrease in the number of enterprises since 2006 is basically a result of takeovers or buying and selling of the enterprises. The enterprises employed approximately 23 700 persons. This was an increase of about 366 persons compared to the previous year. The total number of people employed by these enterprises comprises the number of employees in rehabilitation programmes as well as regular employees.

Local government owned rehabilitation enterprises

The local government owns an enterprise if the local government or the county municipality directly or indirectly owns more than 50 per cent of the paid-up share capital.

 

Rehabilitation programmes are designed to provide work opportunities for occupationally handicapped people. They offer training and counselling related to education, rehabilitation and occupational handicaps, and create jobs. For the majority of rehabilitation enterprises the activities involve the production of goods and services. Examples of such rehabilitation enterprises are public work cooperatives (ASVO), work preparation training (AFT) and work with assistance (AB).

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