Annual Report 2006 (pdf) - EuroMaint Rail

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E u r o M a i n t A n n u a l R e p o r t 2 0 0 6 Note 7 Tangible fixed assets Group, SEK thousands Land Improvements to Plant and machinery Equipment, tools, Construction and buildings* third-party property fixtures and fittings in progress** Total 2006 2005 2006 2005 2006 2005 2006 2005 2006 2005 2006 2005 Opening cost 12,421 12,421 24,581 23,290 149,262 128,035 164,237 151,773 9,420 15,737 359,921 331,255 Change in value of investment property 823 0 0 0 0 0 0 0 0 0 823 0 Acquisition of subsidiaries 0 0 0 0 0 18,768 0 2,677 0 0 0 21,445 Purchases 0 0 0 1,779 1,975 7,220 21,679 18,367 7,389 -6,317 31,043 21,049 Sales/scrappings 0 0 0 -488 -25,345 -4,760 -26,075 -8,580 -13 0 -51,433 -13,828 Closing accumulated cost 13,244 12,421 24,581 24,581 125,891 149,262 159,841 164,237 16,796 9,420 340,354 359,921 Opening depreciation -4,774 -4,478 -5,088 -1,623 -101,534 -89,403 -116,701 -110,790 0 0 -228,097 -206,294 Acquisition of subsidiaries 0 0 0 0 0 -8,299 0 -2,579 0 0 0 -10,878 Depreciation for the year 0 -296 -2,821 -3,823 -8,633 -8,593 -13,977 -11,452 0 0 -25,432 -24,164 Sales/scrappings 0 0 0 358 20,457 4,760 24,152 8,120 0 0 44,609 13,239 Closing accumulated depreciation -4,774 -4,774 -7,909 -5,088 -89,710 -101,535 -106,527 -116,701 0 0 -208,920 -228,097 CLOSING RESIDUAL VALUE ACCORDING TO PLAN 8,470 7,648 16,672 19,493 36,181 47,727 53,315 47,536 16,796 9,420 131,434 131,823 * Land and Buildings includes investment property with the following values: Opening balance 2006 SEK 6,257,000, Change in value SEK 823,000, closing balance 2006 SEK 7,080,000. ** Construction in progress may report a negative figure in the Purchases row if the figure for the year’s facilities set up as an asset exceeds purchases in the financial year. Parent company, SEK thousands Land Plant Equipment, tools, Construction and buildings and machinery fixtures and fittings in progress Total 2006 2005 2006 2005 2006 2005 2006 2005 2006 2005 Opening cost 0 0 0 0 0 0 66 0 66 0 Acquisition of subsidiaries 0 0 0 0 0 0 0 0 0 0 Purchases 0 0 0 0 53 0 170 66 223 66 Sales/scrappings 0 0 0 0 0 0 -13 0 -13 0 Closing accumulated cost 0 0 0 0 53 0 223 66 275 66 Opening depreciation 0 0 0 0 0 0 0 0 0 0 Acquisition of subsidiaries 0 0 0 0 0 0 0 0 0 0 Depreciation for the year 0 0 0 0 -18 0 0 0 -18 0 Sales/scrappings 0 0 0 0 0 0 0 0 0 0 Closing accumulated depreciation 0 0 0 0 -18 0 0 0 -18 0 CLOSING RESIDUAL VALUE ACCORDING TO PLAN 0 0 0 0 35 0 223 66 258 66 57
E u r o M a i n t A n n u a l R e p o r t 2 0 0 6 Notes Note 8 Intangible assets Accumulated cost, SEK thousands 2006 2005 Goodwill Customer Total Goodwill Customer Total relations relations Opening balance 30,195 14,063 44,258 0 0 0 Business combinations 0 0 0 30,195 15,000 45,195 Amortisation 0 -1,875 -1,875 0 -938 -938 Closing balance 30,195 12,188 42,383 30,195 14,062 44,258 Goodwill is attributable to the acquisition of EuroMaint Industry AB. This goodwill was tested to determine any write-down requirement on 31 December 2006. Note 9 Net financial revenues/expense SEK thousands Group Parent company 2006 2005 2006 2005 Interest revenues 2,168 785 13,588 163 Net exchange rate fluctuations 933 131 – – Financial revenues 3,101 916 13,588 163 Interest expenses -11,078 -11,645 -11,595 – Net exchange rate fluctuations -569 -155 – – Financial expenses -11,648 -11,800 -11,595 0 Net financial revenues/expense -8,546 -10,884 1,993 163 Note 10 Tax SEK thousands Group Parent company 2006-01-01 2005-01-01 2006-01-01 2005-01-01 2006-12-31 2005-12-31 2006-12-31 2005-12-31 Current tax -15,459 -1,971 -850 – Deferred tax -5,883 -8,405 – -46 Total -21,342 -10,376 -850 -46 Differences between the recorded tax and calculated tax based on the prevailing tax rate comprise the following components: Group, SEK thousands Difference with calculated tax 2006-01-01 2005-01-01 at prevailing tax rate 2006-12-31 2005-12-31 Recorded pre-tax profit/loss 91,581 102,840 Tax in accordance with prevailing tax rate, 28% -25,643 -28,795 Effects of non-taxable revenues and non-deductible expenses Non-deductible expenses -6,752 -9,187 Cancellation of excess depreciation/amortisation -3,945 -3,945 Non-taxable revenues 10,225 9,478 Valuation of loss carry-forward and previously non-recognised temporary differences 4,772 22,074 Total -21,342 -10,375 The Group’s average tax for 2006 amounts to 23% of the taxable profit. 58
Page 1 and 2:
euromaint ANNUAL REPORT EuroMaint u
Page 3 and 4:
Contents EuroMaint in brief EuroMai
Page 5 and 6:
The past year • Maintenance of St
Page 7 and 8: The CEO’s comments During the pas
Page 9 and 10: EuroMaint Rail • Maintenance of S
Page 11 and 12: EuroMaint Rail During 2006, EuroMai
Page 13 and 14: EuroMaint Rail Maintenance of Stock
Page 15 and 16: EuroMaint Rail New interior for Arl
Page 17 and 18: Sweden Baltic sea Estonia Latvia Je
Page 19 and 20: EuroMaint Rail Refurbishment contra
Page 21 and 22: EuroMaint Rail Creative development
Page 23 and 24: EuroMaint Industry • Production s
Page 25 and 26: EuroMaint Industry The past year ha
Page 27 and 28: EuroMaint Industry Production strea
Page 29 and 30: EuroMaint Industry Establishment in
Page 31 and 32: EuroMaint Industry Specially adapte
Page 33 and 34: EuroMaint • The role of the Group
Page 35 and 36: EuroMaint The role of the Group man
Page 37 and 38: EuroMaint Operational development M
Page 39 and 40: EuroMaint Personnel development Eur
Page 41 and 42: Five-year summary PRO FORMA PRO FOR
Page 43 and 44: E u r o M a i n t A n n u a l R e p
Page 57: E u r o M a i n t A n n u a l R e p
Page 67 and 68: Corporate Governance Report 2006 Eu
Page 69 and 70: Board report into internal control
Page 71 and 72: The Chairman’s comments In 2006 E
Page 73 and 74: The EuroMaint Board of Directors St
Page 75 and 76: EuroMaint Rail management Back row:
Page 77 and 78: EuroMaint Group management INGELA C
Page 79: EuroMaint unites innovative thinkin
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