Annual Report 2004 - HL Display

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NOTES Note 17 JOINT VENTURES SEK 16,980 T of the Group’s fixed assets and SEK 13,715 T of current assets relate to the owned share of the Group’s two joint ventures. The proportion of net sales is SEK 41,885 T and of net income before tax SEK 1,282 T. The proportion of equity totals SEK 13,618 T. The average number of employees was 43, 25 of whom were male. Note 19 TANGIBLE FIXED ASSETS Group Parent Company Land and Plant and Capital expenditure on Plant and SEK T buildings* machinery leasehold properties machinery Acquisition value, opening balance 15,207 363,997 9,949 2,916 The year’s purchases — 43,616 1,188 181 Sales and disposals — –29,288 — — Accumulated acquisition values, closing balance 15,207 378,325 11 137 3,097 Depreciation, opening balance –2,621 –229,750 –3,963 –2,316 Sales and disposals — 23,565 — — This year’s depreciation — –41,351 –617 –311 Accumulated depreciation, closing balance –2,621 –247,536 –4,580 –2,627 Write-downs, opening balance –12,586 –2,850 — — Reversal of previously made write-downs — 2,850 — — Accumulated write-downs, closing balance –12,586 — — — Planned residual value, closing balance 0 130,789 6,557 470 *Book value of properties in Sweden SEK 0 T. Taxable value of properties in Sweden SEK 4,570 T, of which buildings SEK 4,233 T and land SEK 337 T. Because a decision was made to outsource large parts of production to subcontractors, production machinery has been diposed of at the factory in Falkenberg by SEK 4 M. A write-down of SEK 3 M made in 2003 at the Lesjöfors factory has been reversed in 2004, as outsourcing of the production line is no longer a consideration. Note 20 FINANCIAL FIXED ASSETS Group Parent Company Participating Other long-term Shares in Group Participating SEK T interests receivables undertakings interests Opening balance 10,000 964 49,155 16,051 Shareholder contributions — — 9,692 700 New investments — 367 — — New started companies — — 100 — Write-down/amortisation — –353 –8,000 — Planned residual value, closing balance 10,000 978 50,947 16,751 HL DISPLAY ANNUAL REPORT 2004 42 Note 18 INTANGIBLE FIXED ASSETS Group Parent Company Computer Computer SEK T systems Goodwill systems Acquisition value, opening balance 26,353 21,725 10,994 The year’s purchases 558 — 163 Sales and disposals Accumulated acquisition value, –66 — — closing balance 26,845 21,725 11,157 Depreciation, opening balance –20,165 –20,509 –8,821 Sales and disposals 66 — This year’s depreciation –3,276 –1,216 –1,126 Accumulated depreciation, closing balance –23,375 –21,725 –9,947 Planned residual value, closing balance 3,470 — 1,210
Note 21 SHARES IN GROUP UNDERTAKINGS Corporate Capital Number Book Directly owned Reg. office identity number share, % Votes, % of shares value HL Display Belgium N.V. Stabroek 298984 100 100 1,000 283 HL Display ˘Ceská republika s.r.o Prague 65410394 100 100 1 26 HL Display Deutschland GmbH Langenfeld HRB2713 100 100 1 2,614 HL Display Espagna S.L Madrid B843488213 100 100 100 32 HL Display Falkenberg AB Falkenberg 556446 - 0557 100 100 1,500 12,983 HL Display Falun AB Falun 556545 - 6976 100 100 1,000 100 HL Display France S.A. Tours RCSB377988 100 100 250 268 HL Display Hungaria Budapest 0112073189 / 7 100 100 1 487 HL Display Inc. Wilkes-Barre 23 - 2869204 100 100 — 1 HL Display Latvia SIA Riga 000330382 100 100 100 1,522 HL Display Nederland BV Bergen op Zoom 30152867 100 100 200 572 HL Display Lesjöfors AB Filipstad 556439 - 7429 100 100 5,000 2,513 HL Display Ltd Sti Istanbul 428930 - 376512 100 100 461 1,707 HL Display Norge A/S Asker 955437071 100 100 1,000 5,598 HL Display OOO Moscow 7701211771 100 100 1 832 HL Display Pictoria AB Filipstad 556654-4952 100 100 1,000 100 HL Display Polska Sp.z o.o Warszaw 521 - 04 - 17 - 996 100 100 1 236 HL Display Regional Service Center Bergen op Zoom 20085397 100 100 1,671 6,912 HL Display Schweiz AG Aarau 422069 100 100 100 543 HL Display Singapore Pte Ltd. Singapore 200004486H 100 100 1 576 HL Display Slovensko s.r.o. Levice 36547662 100 100 1 44 HL Display d.o.o. Celje 47556722 100 100 1 93 HL Display Sundsvall AB Sundsvall 556124 - 0481 100 100 1,500 11,125 HL Display Sverige AB Stockholm 556351 - 9528 100 100 100 50 HL Display (UK) Ltd Kirmington 2187037 100 100 10,000 935 HL Display Ukraine Kiev 09867 100 100 100 223 HL Display Österreich GmbH Vienna FN140307i 100 100 1 327 HL Financial Services AB Stockholm 556435 - 0832 100 100 500 128 SCI L’Eclipse Tours D 414 745 026 100 100 100 14 HL Display Romania SRL Bukarest 14633525 100 100 2,500 103 Total 50,947 Indirectly owned Envoy Display Ltd Buckingham 02928820 100 100 100 HL Display Karlskoga AB Karlskoga 556457 - 7202 100 100 500 HL Display Shipley Ltd Shipley 256682 100 100 1,000 HL Display Hong Kong Ltd Hong Kong 783 663 100 100 2 HL Display Malaysia Sdn Bhd Subang Jaya 569116-0 100 100 2 HL Display Taiwan Ltd Taipei 70795306 100 100 1 HL Display Thailand Ltd Bangkok 817/2001 100 100 1 HL Display (Shanghai) Co Ltd Shanghai PRC 310230757570910 50 50 2 HL Display Korea Co Ltd Seoul 110111-3042176 100 100 16,800 PT. HL Display Indonesia Jakarta 0904.1.51.20945 100 100 100 Note 22 PARTICIPATING INTERESTS Corporate Capital Number Book Directly owned Reg. office identity number share, % Votes, % of shares value HL Trion AB, (joint venture) Filipstad 556539 - 1637 50 50 500 6,751 Optimus KB Stockholm 916620 - 1450 30 30 1 10,000 Total 16,751 Indirectly owned Trion HL LLC. (joint venture) Wilkes - Barre 23 - 23841295 50 50 — — 43 NOTES HL DISPLAY ANNUAL REPORT 2004
Page 1 and 2: HL Display Annual Report 2004
Page 3 and 4: The year in brief . Group net sales
Page 5 and 6: ments. These customers have now ins
Page 7 and 8: panies are measured on the basis of
Page 9 and 10: DEVELOPMENT OF OPERATING EXPENSES,
Page 11 and 12: HL Display’s new Slimline shelf-e
Page 13 and 14: emphasis on further developing its
Page 15 and 16: The new EasyShelf system makes it e
Page 17 and 18: the region attractive to the multin
Page 19 and 20: Developments during the year Sales
Page 21 and 22: Competitors The competitive situati
Page 23 and 24: 21 Super GB uses colour codes to he
Page 25 and 26: the company’s products. This mean
Page 27 and 28: EMPLOYEE FACTS Employee categories
Page 29 and 30: Customer agreements are normally re
Page 31 and 32: 29 THE HL DISPLAY SHARE Options sch
Page 33 and 34: Income statement Comments on the co
Page 35 and 36: 33 Group Parent Company BALANCE SHE
Page 37 and 38: Cash flow statement 35 CASH FLOW ST
Page 39 and 40: Financial instruments An explanatio
Page 41 and 42: Note 3 BREAKDOWN OF NET SALES BY GE
Page 43: Note 15 TAX ON PROFIT FOR THE YEAR
Page 47 and 48: Note 28 LONG-TERM LIABILITIES Of lo
Page 49 and 50: Note 35 TRANSACTIONS WITH RELATED P
Page 51 and 52: Nine year summary 49 NINE-YEAR SUMM
Page 53 and 54: Board procedures 2004 HL Display’
Page 55 and 56: 50 years of HL Display It was 50 ye

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