Annual report 2012 - Peab

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NOTES 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 Group 2011 MSEK Buildings Machinery Construc- and and tion in land equipment progress Total Opening acquisition value 2,572 5,744 351 8,667 Purchases 80 965 93 1,138 Purchases through acquired companies 35 173 208 Sales/disposals –41 –356 –397 Sales through companies sold –7 –66 –73 Reclassifications Translation differences for the –310 17 –331 –624 year Closing accumulated 2 –3 –1 acquisition value 2,331 6,540 47 8,918 Opening depreciation Accumulated depreciation in –471 –3,332 – –3,803 acquired companies –6 –68 –74 Sales/disposals 10 267 277 Sales through companies sold 17 17 Reclassifications –2 1 –1 Depreciation for the year Translation differences for the –75 –664 –739 year Closing accumulated 1 1 depreciation –544 –3,778 – –4,322 Opening write-downs –10 –7 – –17 Reclassifications 5 5 Write-downs for the year 1) Closing accumulated –4 –4 write-downs –5 –11 – –16 Closing book value 1,782 2,751 47 4,580 1) Annual write-downs are reported in the following lines of the income statement: 2012 2011 Production costs 0 –4 Sales and administrative expenses –1 – Total –1 –4 Parent Company Machinery and equipment MSEK 2012 2011 Opening acquisition value 8 8 Closing accumulated acquisition value 8 8 Opening depreciation –6 –6 Depreciation for the year 0 0 Closing accumulated depreciation –6 –6 Closing book value 2 2 Group financial leasing Companies in the Group lease vehicles, construction machinery and other production equipment through many different financial leasing agreements. The recorded value related to Group financial leasing amounted to SEK 601 million (582). When the leasing agreements terminate Peab normally has a liability to buy equipment at its residual value. The leased assets are owned by the lessors. 64 PEAB ANNUAL REPORT 2012 Note 18 Participation in associated companies Group MSEK 2012 2011 Acquisition value carried forward 88 208 Disposal of associated companies –83 – Dividend for the year –5 –136 Profit from participation in associated companies 1 18 Translation differences for the year –1 –2 Book value carried forward – 88 Specifications of Group’s holdings in associated companies 2012 2011 Company Share Book value, Share Book value, Registered office, Corp.Id.no Catena AB percent MSEK percent MSEK Gothenburg, 556294-1715 – – 19.97 88 Total – 88 Consolidated values regarding the Group’s share of income and costs, assets and liabilities from participation in joint ventures is specified below. MSEK 2012 2011 Income 6 25 Expenses –5 –7 Profit 1 18 Fixed assets – 137 Current assets – 21 Total assets – 158 Current liabilities – 7 Long-term liabilities – 63 Total liabilities – 70 Net assets/liabilities – 88 Associated company participation has been reported in Peab with a quarterly delay since Catena is a listed company. Peab has divested its holdings in Catena AB in 2012. Parent company MSEK 2012 2011 Acquisition value carried forward 133 263 Disposal of associated companies –133 – Write-downs – –130 Book value carried forward – 133 Specification of parent company’s direct holding of shares in associated companies 2012 2011 Company Share Book value, Share Book value, Registered office, Corp.Id.no Catena AB percent MSEK percent MSEK Gothenburg, 556294-1715 – – 19.97 133 Total – 133
Note 19 Participation in joint ventures Specification of Group holdings of participations in joint ventures Company, Share percent Book value, MSEK Share percent Registered office, Corp.ID.no 2012 2011 Book value, MSEK TCL S.à.r.l. Luxemburg, 19982401227 45 280 45 279 S:t Eriks AB Staffanstorp, 556203-4750 44.3 250 44.6 239 Nyckel 0328 AB Stockholm, 556871-6541 33.3 169 30 210 Visio Property Ltd Buckingham, 3871355 50 145 – – Mountain Resort Trysil AS Trysil, 996 284 115 50 54 50 25 Dockan Exploatering AB Malmö, 556594-2645 33 41 33 41 Sicklaön Bygg Invest AB Solna, 556911-5479 50 40 – – Fotbollsstadion i Malmö Fastighets AB Malmö, 556727-4641 25 39 50 78 Telemark Vestfold Utvikling AS Skien, 987 208 279 33.4 32 33.4 29 Fastighets AB Centur Stockholm, 556813-6369 50 30 50 16 Fastighets AB Partille 11 Gothenburg, 556518-4354 50 29 50 30 Österåkers Näs Fastighets HB Stockholm, 969723-2107 30 28 30 30 Log. Tostarp AB Helsingborg, 556667-8784 50 23 50 22 Ale Exploatering AB Gothenburg, 556426-2730 50 16 50 22 Stora Hammar Exploatering AB Vellinge, 556763-4216 50 12 50 12 Fjällvärme i Lindvallen AB Malung-Sälen, 556536-1895 50 12 50 12 I Tolv AB Eksjö, 556513-2478 35 12 35 5 Svenska Fräs & Asfaltsåtervinning SFA AB Markaryd, 556214-7354 30 11 30 9 Bondistranda Utvikling AS Oslo, 992 512 741 50 9 50 0 Skiab Invest AB Malung-Sälen, 556848-5220 50 8 50 9 Kungsörs Grus AB Kungsör, 556044-4134 50 7 50 7 Sjökrona Exploatering AB Helsingborg, 556790-5624 25 6 25 6 Skanör Invest AB Båstad, 556713-5743 50 6 50 6 KB Älvhögsborg Trollhättan, 916899-2734 50 5 50 5 Hälsostaden i Ängelholm AB Ängelholm, 556790-5723 33.3 5 33.3 5 Nya Bara Utvecklings AB Bara, 556858-4311 50 5 – – Kirkebakken Vest AS Horten, 988 796 174 50 4 50 4 Tomasjord Park AS Tromsö, 983 723 853 50 3 50 3 Log. Sunnanå AB Helsingborg, 556699-7788 50 3 50 3 Book Book Share value, Share value, Company, percent MSEK percent MSEK Registered office, Corp.ID.no KB Blåsut Åstorp 2012 2011 Stockholm, 969691-9043 Mälarstrandens Utvecklings AB 50 3 50 2 Västerås, 556695-5414 Expressbetong AB 44 2 44 2 Halmstad, 556317-1452 Östersund Sport & Eventarena AB 50 2 50 2 Östersund, 556707-0239 Byggutveckling Svenska AB 33.3 1 33.3 1 Linköping, 556627-2117 Fastighets AB ML4 50 1 50 1 Malmö, 556786-2155 Trysil Suiter AS 50 1 50 0 Trysil, 991 276 068 Trysil Hotellutvikling AS 50 1 – – Trysil, 987 054 409 Fastigheten Preppen HB 50 –17 – – Gothenburg, 969684-0983 Råsta Holding AB – – 50 18 Solna, 556742-6761 Floodelokka 1 KS – – 37.5 72 Skien, 955 230 658 Hemsö Gransångaren Fastigheter AB – – 45 13 Stockholm, 556591-2994 Fastighets AB Bryggeriet – – 46 8 Gothenburg, 556141-6115 Dampskipskaia H-fest AS – – 50 4 Hammerfest, 988 780 499 Floodelokka 1 AS – – 50 2 Skien, 995 230 666 – – 50 2 Others no specified items 1 1 Total 1,279 1,235 The items below show Group value of participation in the income and costs, assets and liabilities of joint ventures. MSEK 2012 2011 Income 1,017 1,108 Expenses Less: Result from property projects reported –936 –1,102 in gross profit –102 – Result –21 6 Fixed assets 5,888 2,746 Current assets 1,423 1,871 Total assets 7,311 4,617 Long-term liabilities 5,136 2,869 Current liabilities 896 513 Total liabilities 6,032 3,382 Net assets/liabilities 1,279 1,235 PEAB ANNUAL REPORT 2012 65 NOTES 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46
Page 1 and 2:
Annual report 2012
Page 3 and 4:
A Nordic Community Builder Peab is
Page 5 and 6:
Stable volumes but lower profits Or
Page 7 and 8:
LASTING While we have to be sensiti
Page 9 and 10:
Nordic construction and civil engin
Page 11 and 12:
ise again in 2013. Even the policy
Page 13 and 14:
A business concept that builds on l
Page 15 and 16:
Financial and operative goals The s
Page 17 and 18: Board of Directors’ Report NET SA
Page 19 and 20: completion method. Unrealized inter
Page 21 and 22: A year of challenges NET SALES AND
Page 23 and 24: ate jobs there. Two examples of pro
Page 25 and 26: MARKET SEGMENTS Local market: Does
Page 27 and 28: BUSINESS AREA INDUSTRY Business are
Page 29 and 30: The past few years’ strong housin
Page 31 and 32: An active first year NET SALES AND
Page 33 and 34: Sustainability Peab’s vision of b
Page 35 and 36: Profit-sharing Peab has always ende
Page 37 and 38: Participation, security and confide
Page 39 and 40: The AGM 2007 resolved to issue and
Page 41 and 42: Income statement for the Group INCO
Page 43 and 44: MSEK Share capital REPORT ON CHANGE
Page 45 and 46: INCOME STATEMENT AND REPORT ON COMP
Page 47 and 48: MSEK REPORT ON CHANGES IN THE PAREN
Page 49 and 50: CONTENTS NOTES Note 1 Accounting pr
Page 51 and 52: trolling interest is involved, pote
Page 53 and 54: Financial instruments On the assets
Page 55 and 56: where the results of research or ot
Page 57 and 58: Taxes Untaxed reserves including de
Page 59 and 60: Group 2011 MSEK Construction Civil
Page 61 and 62: Salaries and other payments divided
Page 63 and 64: Note 12 Net financial income/expens
Page 65 and 66: Deferred Deferred Changes recognize
Page 67: Goodwill impairment testing in cash
Page 71 and 72: Note 28 Construction contracts Reco
Page 73 and 74: Note 32 Pensions Defined benefit pe
Page 75 and 76: Note 36 Valuation of financial asse
Page 77 and 78: Note 37 Financial risks and financi
Page 79 and 80: Exposure of net assets in foreign c
Page 81 and 82: Note 41 Related parties Related par
Page 83 and 84: Company Corp.ID.nr Registered offic
Page 85 and 86: Note 43 Untaxed reserves Parent com
Page 87 and 88: The Annual Report has been prepared
Page 89 and 90: A Nordic Community Builder: Sweden
Page 91 and 92: Auditors Information Election Share
Page 93 and 94: Control Policy. This policy establi
Page 95 and 96: Executive management Jesper Görans
Page 97 and 98: List of shareholders on 28 February
Page 99 and 100: Financial definitions Capital emplo
Page 101 and 102: Financial information Follow Peab q
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