Annual Report 2010 - CDON Group

76 CDON Group AB
Annual report 2010
CDON Group AB
Annual report 2010
Group (SEK thousands) 2010 2009
Opening balance, 1 January 2,411 4,070
Translation differences during the year, net after tax -3,250 -1,659
Total accumulated translation differences -838 2,411
Retained earnings
Retained earnings include previously earned profit.
Proposed dividend
The Board of Directors will propose to the 2011 Annual General Meeting of shareholders that no dividend be paid to shareholders for the
fiscal year ending 31 December 2010, and that retained earnings be carried forward into the 2011 accounts.
Note 17 Other provisions
Group
Other provisions (SEK thousands) 2010 2009
Provisions for social security contributions based on share-based payments - 1,217
Provisions for contingent consideration agreements 2,397 -
Total 2,397 1,217
Provisions for share-based payments (SEK thousands) 2010 2009
Carrying amount at year's start 1,217 1,020
Provisions allocated during the period - 197
Unutilized amount reversed during the period -1,217 -
Carrying amount at year end - 1,217
Provisions in 2009 comprised social security contributions for share-based payments. Provisions have been dissolved as the programme
for share-based payments was concluded when the company was listed. No payments have been made, instead the dissolution has been
recognised in the consolidated income statement.
Provisions for contingent consideration agreements (SEK thousands) 2010 2009
Carrying amount at year's start - -
Provisions allocated during the period 2,397 -
Carrying amount at year end 2,397 -
Provisions include contingent consideration agreements from the acquisition of Lekmer AB. The valuation of the contingent consideration
is based on defined profit objectives for 2011 and 2012 for Lekmer AB and the probability of their fulfilment.
Total provisions for the Group (SEK thousands) 2010 2009
Total carrying amount at year's start 1,217 1,020
Provisions allocated during the period 2,397 197
Unutilized amount reversed during the period -1,217 -
Total carrying amount at year end 2,397 1,217
Of which non-current portion of provisions 1,271 1,217
Of which current portion of provisions 1,126 -
Payments 2010 2009
Amount for which provisions are expected to be payable after 12 months 1,271 1,217
Parent company
Other provisions (SEK thousands) 2010 2009
Provisions for contingent consideration agreements 2,660 -
Total 2,660 -