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Note 22 cont. The Group’s net foreign assets are distributed among the following currencies: Group Currency 31 Aug 2009 31 Aug 2008 Amounts in SEK m Amounts in SEK m noK 101 91 EUr 5 59 pln 22 43 hKD 3 4 Fair value the carrying amount of financial assets and liabilities in the balance sheet is in line with fair value. the table below shows the items in the balance sheet in which the financial instrument accounting policies are applied. classification of financial assets and liabilities in the balance sheet as below. Assets in the balance sheet 31 Aug 2009 31 Aug 2008 trade receivables 3.0 3.4 other current receivables, – interest rate derivatives – 26.5 – currency derivatives 3.4 18.3 cash and cash equivalents 20.8 32.2 Total 27.2 80.4 Maturities of the Group’s financial liabilities including estimated interest payments. Carrying amount Within one year Liabilities in the balance sheet 31 Aug 2009 31 Aug 2008 long-term interest-bearing liabilities 2 055,7 1 189,4 Short-term interest-bearing liabilities – – trade payables 231,4 233,1 other current liabilities, – interest rate derivatives 66,0 1,6 – currency derivatives 46,5 2,8 Bank overdraft facilities – 782,4 Total 2 399,6 2 209,3 From one to two years From two to three years From three to four years Up to five years Total contracted cash flow Bank loans and bank overdraft facilities* 2,056 82 82 1,638 582 2,384 trade payables 231 231 – – – – 231 forward interest rate agreements* 66 – – – – – – forward exchange contracts, net 47 47 – – – – 47 Total 2,400 360 82 1,638 582 – 2,662 * When calculating interest payments on loans and bank overdrafts the effect of forward interest rate agreements on interest has been taken into account on the basis of the situation at the year-end close. Note 23 OPERATING LEASES Leases where the company is lessee non-cancellable lease payments amount to: SEK m 31 Aug 2009 Group Parent Company 31 Aug 2008 31 Aug 2009 31 Aug 2008 Within one year 2,0 2,2 – – from one to five years 1,7 2,0 – – Total 3,7 4,2 – – apart from the above operating leases the Group has signed tenancy agreements for store premises. the operating profit has been charged with SEK 577 (498) million referring to costs of rented store premises. the rental charges are based on fixed rent and/or turnover-based rent. the term of tenancy agreements is normally five years and they are evenly distributed over time so that about 20 per cent of the agreements are renegotiated every year. Note 24 CAPITAL COMMITMENTS Group in 2009 the Group signed a number of low value agreements to acquire property, plant and equipment, mainly for new stores. all agreements are within the Group’s overall capital expenditure budget. for the coming financial year this is at about the same level as the outcome for the financial year ending 31 august 2009. the commitments are expected to be settled over the course of the next financial year. 64 financial information Kappahl 2008/2009
Note 25 SEK m PLEDGED ASSETS AND CONTINGENT LIABILITIES 31 Aug 2009 Group Parent Company 31 Aug 2008 31 Aug 2009 31 Aug 2008 Pledged assets in the form of pledged assets for own liabilities and provisions floating charges 44.0 43.3 – – net assets in subsidiaries 942.7 1,268.1 – – Shares in subsidiaries – – 1,574.7 1 574.7 Total pledged assets 986.7 1,311.4 1,574.7 1 574.7 Contingent liabilities Guarantee commitments, fpG/pri 0.5 0.5 none none purchase guarantee 0.2 0.2 none none Total contingent liabilities 0.7 0.7 None None See note 31 for a description and assessment of a dispute concerning customs duty in norway. Note 27 PARTICIPATIONS IN GROUP COMPANIES Parent Company SEK m 31 Aug 2009 31 Aug 2008 Accumulated cost of acquisition at beginning of year 3,143.8 2,882.4 impairment due to dividends * – –42.2 acquisition of Kappahl fastighets aB and fastighets aB Betesängen – 303.6 Closing balance 3,143.8 3,143.8 * there was an impairment loss on shares in Kappahl aS due to dividends exceeding profits earned after acquisition. Specification of the parent company’s and the Group’s holdings in Group companies Note 26 RELATED PARTIES Related party relationships net sales in the parent company refer entirely to Group companies. Transactions with key personnel in senior positions the company’s cEo, christian W. Jansson controls 16.28 per cent of the votes and member of the Board paul frankenius controls 16.21 per cent of the votes in the company. in the previous year these two jointly controlled 30.0 per cent of the votes in the company indirectly via the company pegatro ltd. other senior executives control 1.8 (2.0) per cent of the votes in the company. the total remuneration is included in “staff costs” (see notes 5 and 18). 31 Aug 2009 31 Aug 2008 Subsidiary / Corporate identity number / Country Number of shares Percentage share Carrying amount Carrying amount Kappahl Sverige aB, 556060-4158, Sweden 60,000 100.0 1,271.1 1,271.1 Kappahl aS, 947659138, norway 41,749 100.0 1,269.1 1,269.1, Kappahl oY, 460.230, finland 200 100.0 300.0 300.0 Kappahl fastighets aB, 556750-5481, Sweden 1,000 100.0 294.0 294.0 fastighets aB Betesängen, 556722-2244, Sweden 1,000 100.0 9.6 9.6 indirectly owned (via Kappahl Sverige aB) Kappahl Åland aB, 1737564-2, mariehamn 100 100.0 – – Kappahl polska Sp.zo.o, 526-22-60-963, poland 10,000 100.0 – – Kappahl czech republic s.r.o, 26447142, czech republic 10,000 100.0 – – Kappahl far East ltd, 438724, hong Kong 10,000 100.0 – – Detaljhandel logistik aB, 556636-2132, Sweden 1,000 100.0 – – Kappahl i mölndal aB, 556714-1444, Sweden 1,000 100.0 – – 3,143.8 3,143.8 2008/2009 Kappahl financial information 65
Page 1 and 2:
annual report 2009
Page 3 and 4:
Parent company balance sheet ......
Page 5 and 6:
1980 1990 2000 KappAhl’s major ex
Page 7 and 8:
BUT HOW DOES THE ECONOMY AFFECT YOU
Page 9 and 10:
➻ GROWTH IN NEW AND EXISTING STOR
Page 11 and 12:
VOLUMES PEAK IN AUTUMN AND WINTER T
Page 13 and 14:
CHILD KappAhl Child has a broad tar
Page 15 and 16: IMPORTANT EVENTS DURING THE YEAR
Page 17 and 18: Kappahl.com Om det är något man s
Page 19 and 20: underwear that stands for “the un
Page 21 and 22: not all we care about. The sustaina
Page 23 and 24: 5 STEPS ALONG THE VALUE CHAIN Good-
Page 25 and 26: STEP 2: PURCHASING “RIGHT SALEABI
Page 27 and 28: STEP 5: MARKETING & STORE SALES MAN
Page 29 and 30: Before establishing a new store, ex
Page 31 and 32: clear and comprehensible objectives
Page 33 and 34: THE KAPPAHL SHARE The KappAhl share
Page 35 and 36: Multi-year and quarterly review KEY
Page 37 and 38: ADMINISTRATION REPORT The Board of
Page 39 and 40: The financial risks and their manag
Page 41 and 42: CONSOLIDATED INCOME STATEMENT Amoun
Page 43 and 44: COMMENTS ON THE CONSOLIDATED BALANC
Page 45 and 46: CONSOLIDATED CASH FLOW STATEMENT Am
Page 47 and 48: PARENT COMPANY BALANCE SHEET Amount
Page 49 and 50: PARENT COMPANY CASH FLOW STATEMENT
Page 51 and 52: and losses for defined benefit pens
Page 53 and 54: market, the brand is expected to en
Page 55 and 56: Note 3 cont. Segment Group SEK m No
Page 57 and 58: Note 6 FEES AND REMUNERATION TO AUD
Page 59 and 60: Note 9 cont. Dates of expiry of rep
Page 61 and 62: Note 11 PROPERTY, PLANT AND EQUIPME
Page 63 and 64: Note 18 EMPLOYEE BENEFITS Pensions
Page 65: Note 22 FINANCIAL RISKS AND FINANCI
Page 69 and 70: Note 30 CRITICAL ESTIMATES AND ASSU
Page 71 and 72: CORPORATE GOVERNANCE REPORT Group m
Page 73 and 74: In addition to the auditing assignm
Page 75 and 76: the company’s internal controls a
Page 77 and 78: Håkan Westin Chief Financial Offic
Page 79 and 80: Rose-Marie Zell-Lindström (born 19
Page 81 and 82: NOTES 2008/2009 Kappahl 79
Page 84: KappAhl Holding AB (publ) Box 303
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We - KappAhl

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