Statoil Earnings Down In Q4 2013 – ValueWalk Premium
Statoil stock performance

Statoil Earnings Down In Q4 2013

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


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