Statoil Earnings Down In Q4 2013Hira Shahnawaz Akhtar
Statoil ASA (ADR) (NYSE:STO) operating income dropped 4% in 4Q2013, to NOK 43.9 billion while adjusted earnings dropped 12% YoY to NOK 42.3 billion during the same period. Company annual net operating income dropped 25% to NOK 155.5 billion in 2013 versus NOK 206.6 billion in the previous year.
Table 1: Financial highlights of 2013
Production shortages in 2013 drag down revenues
Earnings were driven down primarily by a decline in the top line accompanied by a massive increase in expenses. Sales were driven down by a exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
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