consolidated statement of profit and loss
Telenor Group 1 January–31 December

In NOK millions, except per share amounts	Note	2003	2002	2001
Revenues	2	52,889	48,668	40,604
Gains on disposal of fixed assets and operations	2	232	158	5,436
Total revenues		53,121	48,826	46,040
Operating expenses
Costs of materials and traffic charges	4	13,094	12,485	10,204
Own work capitalized	5	(571)	(567)	(1,002)
Salaries and personnel costs	6,7	9,561	10,104	10,128
Other operating expenses	8,9	12,506	13,188	12,397
Losses on disposal of fixed assets and operations		229	147	63
Depreciation and amortization	14,15	10,597	10,236	7,251
Write-downs	14,15	145	3,553	3,822
Total operating expenses		45,561	49,146	42,863
Operating profit (loss)		7,560	(320)	3,177
Associated companies	16	1,231	(2,450)	8,237
Financial income and expenses
Financial income		586	567	897
Financial expenses		(2,023)	(1,833)	(1,396)
Net currency loss		(1)	(311)	(402)
Net gain (loss) and write-downs of financial items		73	(789)	(258)
Net financial items	12	(1,365)	(2,366)	(1,159)
Profit (loss) before taxes and minority interests		7,426	(5,136)	10,255
Taxes	13	(2,376)	480	(3,897)
Profit (loss) before minority interests		5,050	(4,656)	6,358
Minority interests		(490)	358	721
Net income (loss)		4,560	(4,298)	7,079
Net income (loss) per share in NOK (basic), excluding treasury shares		2.57	(2.42)	3.99
Net income (loss) per share in NOK (diluted), excluding treasury shares		2.57	(2.42)	3.99