Annual report 2012 - Peab

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AUDITORS’ REPORT Auditors’ report To the annual meeting of the shareholders of Peab AB, corp. id. 556061-4330 REPORT ON THE ANNUAL ACCOUNTS AND CONSOLIDATED ACCOUNTS We have audited the annual accounts and consolidated accounts of Peab AB for the year 2012. The annual accounts and consolidated accounts of the company are included in the printed version of this document on pages 13–83. Responsibilities of the Board of Directors and the Managing Director for the annual accounts and consolidated accounts The Board of Directors and the Managing Director are responsible for the preparation and fair presentation of these annual accounts in accordance with International Financial Reporting Standards, as adopted by the EU, and the Annual Accounts Act, and for such internal control as the Board of Directors and the Managing Director determine is necessary to enable the preparation of annual accounts and consolidated accounts that are free from material misstatement, whether due to fraud or error. Auditor’s responsibility Our responsibility is to express an opinion on these annual accounts and consolidated accounts based on our audit. We conducted our audit in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. Those standards require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the annual accounts and consolidated accounts are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual accounts and consolidated accounts. The procedures selected depend on the auditor’s judgment, including the assessment of the risks of material misstatement of the annual accounts and consolidated accounts, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the annual accounts and consolidated accounts in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors and the Managing Director, as well as evaluating the overall presentation of the annual accounts and consolidated accounts. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinions. Opinions In our opinion, the annual accounts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of the parent company as of 31 December 2012 and of its financial performance and its cash flows for the year then ended in accordance with the Annual Accounts Act. The consolidated accounts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of the group as of 31 December 2012 and of their financial performance and cash flows for the year then ended in accordance with International Financial Reporting Standards, as adopted by the EU, and the Annual Accounts Act. 84 PEAB ANNUAL REPORT 2012 The statutory administration report is consistent with the other parts of the annual accounts and consolidated accounts. We therefore recommend that the annual meeting of shareholders adopt the income statement and balance sheet for the parent company and the group. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS In addition to our audit of the annual accounts and consolidated accounts, we have also audited the proposed appropriations of the company’s profit or loss and the administration of the Board of Directors and the Managing Director of Peab AB for the year 2012. Responsibilities of the Board of Directors and the Managing Director The Board of Directors is responsible for the proposal for appropriations of the company’s profit or loss, and the Board of Directors and the Managing Director are responsible for administration under the Companies Act. Auditor’s responsibility Our responsibility is to express an opinion with reasonable assurance on the proposed appropriations of the company’s profit or loss and on the administration based on our audit. We conducted the audit in accordance with generally accepted auditing standards in Sweden. As basis for our opinion on the Board of Directors’ proposed appropriations of the company’s profit or loss, we examined the Board of Directors’ reasoned statement and a selection of supporting evidence in order to be able to assess whether the proposal is in accordance with the Companies Act. As basis for our opinion concerning discharge from liability, in addition to our audit of the annual accounts and consolidated accounts, we examined significant decisions, actions taken and circumstances of the company in order to determine whether any member of the Board of Directors or the Managing Director is liable to the company. We also examined whether any member of the Board of Directors or the Managing Director has, in any other way, acted in contravention of the Companies Act, the Annual Accounts Act or the Articles of Association. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinions. Opinions We recommend to the annual meeting of shareholders that the profit be appropriated in accordance with the proposal in the statutory administration report and that the members of the Board of Directors and the Managing Director be discharged from liability for the financial year. Förslöv, 3 April 2013 Alf Svensson Thomas Thiel Authorized Public Accountant Authorized Public Accountant
A Nordic Community Builder: Sweden’s biggest infrastructure project for research Max IV Laboratory, Lund, December 2012: Peab has initiated construction of the second stage of what is currently Sweden’s biggest infrastructure project for research ever, the Max IV Laboratory in Lund. A gigantic super microscope will make it possible to study different kinds of materials and their characteristics down to their most minute parts. Together with professors from Lund University and the architect firm Snøhetta Peab has developed several innovative solutions to meet the project’s greatest challenge; vibrations. The microscope’s synchronous light is a fourth of a strand of hair wide and needs to be kept perfectly still. The project is a model of sustainable construction in Europe. The facility, which will open in 2015, will be an important place for thousands of researchers in the Nordic region and Europe making it an essential part of a new research community. Read more about Max lV at www.peab.se/MAXIV. MAX IV Lund PEAB ANNUAL REPORT 2012 85
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Annual report 2012
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A Nordic Community Builder Peab is
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Stable volumes but lower profits Or
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LASTING While we have to be sensiti
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Nordic construction and civil engin
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ise again in 2013. Even the policy
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A business concept that builds on l
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Financial and operative goals The s
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Board of Directors’ Report NET SA
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completion method. Unrealized inter
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A year of challenges NET SALES AND
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ate jobs there. Two examples of pro
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MARKET SEGMENTS Local market: Does
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BUSINESS AREA INDUSTRY Business are
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The past few years’ strong housin
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An active first year NET SALES AND
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Sustainability Peab’s vision of b
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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 and 68: Goodwill impairment testing in cash
Page 69 and 70: Note 19 Participation in joint vent
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: The Annual Report has been prepared
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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Annual report 2012 - Peab

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