English - DFDS

84 NOTEs
DFDS annual report 2009
Parent Company
DKK ‘000
Consolidated
DKK ‘000
2007 2008 2009 Note 16 Securities 2007 2008 2009
14,266 5,810 10,375 Listed shares 14,266 5,810 10,375
8,818 8,818 16,931 Other shares and equity investments 10,138 10,114 18,190
1,404 1,529 1,529 Other investments 1,404 1,529 1,529
24,488 16,157 28,835 Total securities 25,808 17,453 30,094
Securities in both the Parent Company and the Group are non-current assets classified as ‘available for sale’.
Other shares and equity investments as well as other investments consist of some minor unlisted enterprises and holdings. These assets are not adjusted to fair value
because the fair value cannot be measured reliable. Instead the securities are recognised at cost reduced by write-downs, if any.
During 2009 there has been no disposal of other shares and equity investments. In 2009 ICT Holding A/S was transferred from associate to securities because of the
reduced number of directorships.
During 2008 two group enterprises have disposed shares and equity investments, which were recognised at the cost of DKK 20 thousand. The profit from sale constitutes
DKK 380 thousand and is included in financial income.
During 2007 the Parent Company has disposed shares and equity investments, which were recognised at the cost of DKK 85 thousand. The profit from sale constitutes
DKK -4 thousand and is included in financial costs.
Parent Company
DKK ‘000
Consolidated
DKK ‘000
2007 2008 2009 Note 17 Inventories 2007 2008 2009
49,305 40,404 32,409 Bunkers 60,822 47,644 38,340
37,720 29,032 33,789 Goods for sale and raw materials for restaurants 42,810 34,369 40,385
-7,444 -2,347 -1,945 Write-down of inventories for the year -7,444 -2,347 -1,945
79,581 67,089 64,253 Total inventories 96,188 79,666 76,780
Parent Company
NUMBER OF SHARES
Note 18 Holding of treasury shares 2007 2008 2009
Holding of treasury shares at 1 January 391,120 338,895 339,751
Disposals of the year related to share options used -52,225 -30,000 -3,000
Acquisition of treasury shares 0 30,856 0
Holding of treasury shares at 31 December 338,895 339,751 336,751
Market value of treasury shares at 31 December, DKK '000 267,727 135,561 120,388
At the Annual General Meeting in April 2009 the Board of Directors was authorised – until the Annual General Meeting 2010 – to acquire treasury shares at a nominal
value totalling 10% of the DFDS A/S’ share capital.
The Company’s holdings of treasury shares at 31 December 2009 are 336,751 shares (2008: 339,751 shares, 2007: 338,895 shares), corresponding to 4.21% (2008: 4.25%,
2007: 4.24%) of the Company’s share capital. Treasury shares have originally been acquired to cover a share option scheme for employees.
Parent Company
DKK ‘000
Consolidated
DKK ‘000
2007 2008 2009 Note 19 Deferred tax 2007 2008 2009
0 0 0 Balance at 1 January 127,663 147,254 80,582
- - - Foreign exchange adjustment -1,930 -4,434 3,049
0 0 0 Change of corporation tax rate -329 0 0
0 0 0 Deferred tax for the year recognised in the income statement 3,580 -36,922 -29,970
0 0 0 Deferred tax for the year recognised in the equity 0 0 15
0 0 0 Adjustment, previous years in the income statement 18,294 -25,316 5,722
0 0 0 Adjustment, previous years in the equity -24 0 0
0 0 0 Deferred tax at 31 December, net 147,254 80,582 59,398
Deferred tax is recognised in the balance sheet as:
0 0 0 Deferred tax asset -75,174 -72,996 -102,642
0 0 0 Deferred tax liability 222,428 153,578 162,040
0 0 0 Deferred tax, net at 31 December 147,254 80,582 59,398
Note 19 continued on the next page >>>