Annual Report 2010 - CDON Group

24 CDON Group AB
Annual Report report 2010
The parent company has the same risks and uncertainties as the Group, since parent company
operations are dependent on the Group's.
The CDON Group parent company reported sales of SEK 0.1 million (0.0) for the full year.
Administrative expenses amounted to SEK 17.8 million (0.1) for the full year and included a nonrecurring
expense of SEK 12.6 million related to the listing of the CDON Group on Nasdaq OMX
Stockholm. The remaining administrative expense mainly relates to becoming and operating a
publicly listed company and is of a recurring nature, consisting of expenses for central functions,
board fees, auditing services, etc.
Other net financial items amounted to SEK -8.3 million (-19.9) for the full year. Loss before tax
totalled SEK -26.1 million (-20.0) for the full year.
The parent company reported cash and cash equivalents of SEK 407.4 million (0.0) at year end,
which comprised the Group’s cash pool and SEK 250.0 million attributable to convertible bonds
issued during Q4 2010.
The parent company made investments of SEK 31.8 (63.7) million in non-current assets, of which
SEK 21 million relates to the acquisition of an additional 5.54% of NLY Scandinavia AB (Nelly.com),
and SEK 7.2 million relates to the acquisition of 90.1% of shares in Lekmer AB (Lekmer.com). The
CDON Group now owns 95.54% of NLY Scandinavia. In April 2010, Gymgrossisten Nordic AB
merged with its parent company, with a merger effect of SEK -56.8 million.
Proposed allocation of profits
These amounts are at the disposal of the AGM as of 31 December 2010 (SEK):
Share premium reserve 139,870,129.00
Retained earnings 95,811,649.30
Loss for the year -19,398,503.03
Total 216,283,275.27
The Board of Directors propose the retained profits and the share premium reserve and the profit
for the year, a total of SEK 216.283.275,27 to be carried forward, whereof SEK 139,870,129 to the
share premium reserve .
Regarding the Company’s financial position and operational results, see the financial statements
and accompanying notes and comments that follow.
The share
The October 2010 extra general meeting of MTG resolved to distribute CDON Group shares to
MTG shareholders. The CDON share was then listed on the Nasdaq OMX Stockholm exchange on
15 December 2010. The share is traded on the NASDAQ OMX Stockholm MidCap list under the