STENA METALL AB - Stena Metall Group

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Financial review | The <strong>Group</strong> 7 Income from other securities The year-earlier figure refers to the gain on the sale of the shares in Boliden Ltd. 8 Interest income and similar credits 2004/2005 2003/2004 Interest income . . . . . . . . . . . . . . . . . . . . . . 58.3 36.8 Exchange rate differences . . . . . . . 31.3 — Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 89.6 36.8 9 Interest expenses and similar charges 2004/2005 2003/2004 Interest expenses . . . . . . . . . . . . . . . . . . –124.5 –69.8 Exchange rate differences . . . . . . . –22.0 –2.5 Writedown of receivable. . . . . . . . . . . –1.1 — Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –0.8 — Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –148.4 –72.3 Note 10 Taxes, continued 2004/2005 2003/2004 Reconciliation of reported tax charge Income before tax. . . . . . . . . . . . . . . . . . . 686.1 609.6 Tax according to Parent Company’s current tax rate (28%) . . . . . . . . . . –192.1 –170.7 Effect of other tax rates for foreign subsidiaries . . . . . . . . –12.6 –14.8 Amortization of consolidated goodwill. . . . . . . . . . . –5.7 –3.2 Other non-deductible expenses –27.2 –60.0 Tax-exempt revenue . . . . . . . . . . . . . . . . 4.6 61.4 Tax loss carryforwards utilized . 1.6 1.0 Tax attributable to previous years –8.0 1.6 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –10.4 7.2 Reported tax charge . . . . . . . . . . . . . . –249.8 –177.5 Tax items posted directly against shareholders’ equity Deferred tax attributable to changes in accounting principles 6.1 — 10 Taxes 2004/2005 2003/2004 Current tax . . . . . . . . . . . . . . . . . . . . . . . . . . . . –211.4 –124.9 Deferred tax. . . . . . . . . . . . . . . . . . . . . . . . . . . –38.4 –52.6 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –249.8 –177.5 Current tax is distributed as follows: Current tax Current tax for the period . . . . . . . . –210.8 –128.1 Adjustment of tax for previous years –0.6 3.2 Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –211.4 –124.9 Deferred tax Deferred tax on temporary differences . . . . . . . . . –31.9 –60.7 Deferred tax claim related to tax loss carryforwards . . . . . . –6.8 8.1 Other . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 0.3 — Total . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –38.4 –52.6 11 Goodwill Aug. 31, Aug. 31, 2005 2004 Acquisition value, opening balance . . . . . . . . . . . . . . . . . . . . . 176.7 290.7 Acquisitions during the year . . . . . . . . 179.6 58.7 Disposal of fully amortized goodwill. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . –9.5 –173.5 Translation differences, etc. . . . . . . . . 6.9 0.8 Acquisition value, closing balance . . . . . . . . . . . . . . . . . . . . . 353.7 176.7 Accumulated amortization, opening balance. . . . . . . . . . . . . . . . . . . . . –74.6 –219.4 Amortization for the year . . . . . . . . . . . . –43.3 –28.6 Disposal of fully amortized goodwill. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9.5 173.5 Translation differences . . . . . . . . . . . . . . . –1.9 –0.1 Accumulated amortization, closing balance . . . . . . . . . . . . . . . . . . . . . –110.3 –74.6 Reported value . . . . . . . . . . . . . . . . . . . . . . . . . 243.4 102.1 66
Financial review | The <strong>Group</strong> 12 Other intangible assets Aug. 31, Aug. 31, 2005 2004 Acquisition value, opening balance 2.3 3.8 Acquisitions during the year . . . . . . . . 15.6 0.2 Disposals during the year . . . . . . . . . . . — –0.4 Disposal of fully amortized assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . — –1.1 Translation differences, etc. . . . . . . . . 1.0 –0.2 Acquisition value, closing balance 18.9 2.3 Accumulated amortization, opening balance. . . . . . . . . . . . . . . . . . . . . –2.1 –3.1 Amortization for the year . . . . . . . . . . . . –0.5 –0.5 Disposals during the year . . . . . . . . . . . — 0.3 Disposal of fully amortized assets . . . . . . . . . . . . . . . . . . . — 1.1 Translation differences . . . . . . . . . . . . . . . –0.5 0.1 Accumulated amortization, closing balance . . . . . . . . . . . . . . . . . . . . . –3.1 –2.1 Reported value. . . . . . . . . . . . . . . . . . . . . . . . . . 15.8 0.2 Consists primarily of know-how in acquired operations. 13 Buildings Aug. 31, Aug. 31, 2005 2004 Acquisition value, opening balance 876.7 790.4 Acquired or merged companies . . . 58.1 14.2 Acquisitions during the year . . . . . . . . 59.8 55.0 Reclassification . . . . . . . . . . . . . . . . . . . . . . . . 21.5 24.6 Sales and disposals . . . . . . . . . . . . . . . . . . –18.1 –4.0 Translation differences, etc. . . . . . . . . 17.7 –3.5 Acquisition value, closing balance . . . . . . . . . . . . . . . . . . . . . 1,015.7 876.7 Accumulated depreciation, opening balance. . . . . . . . . . . . . . . . . . . . . –289.7 –259.8 Accumulated depreciation in acquired or merged companies, opening balance. . . . –13.4 –2.8 Reclassifications . . . . . . . . . . . . . . . . . . . . . . . –1.3 0.1 Sales and disposals . . . . . . . . . . . . . . . . . . 6.3 3.1 Depreciation for the year . . . . . . . . . . . . –37.6 –31.0 Translation differences, etc. . . . . . . . . –3.6 0.7 Accumulated depreciation, closing balance . . . . . . . . . . . . . . . . . . . . . –339.3 –289.7 Revaluations, opening balance . . . . 23.0 23.0 Depreciation of revaluations, opening balance. . . . . . . . . . . . . . . . . . . . . –17.1 –16.2 Depreciation of revaluated amount for the year . . . . . . . . . . . . . . . . –0.9 –0.9 Accumulated revaluations, net, closing balance. . . . . . . . . . . . . . . 5.0 5.9 Reported value . . . . . . . . . . . . . . . . . . . . . . . . . 681.4 592.9 Tax assessment value of buildings . . . . . . . . . . . . . . . . . . . . . . . . . . . 250.9 256.1 14 Land and other real estate Aug. 31, Aug. 31, 2005 2004 Acquisition value, opening balance 295.0 278.9 Acquired or merged companies . . . 20.3 2.9 Acquisitions during the year. . . . . . . . 79.7 15.8 Reclassifications . . . . . . . . . . . . . . . . . . . . . . . 4.6 5.8 Sales and disposals . . . . . . . . . . . . . . . . . . –16.1 –5.9 Translation differences, etc.. . . . . . . . 12.0 –2.5 Acquisition value, closing balance 395.5 295.0 Accumulated depreciation, opening balance . . . . . . . . . . . . . . . . . . . . –39.5 –36.3 Accumulated depreciation in acquired or merged companies, opening balance . . . — –0.7 Sales and disposals . . . . . . . . . . . . . . . . . . 4.8 1.3 Depreciation for the year . . . . . . . . . . . . –3.9 –3.6 Reclassifications . . . . . . . . . . . . . . . . . . . . . . . –0.2 –0.2 Accumulated depreciation, closing balance . . . . . . . . . . . . . . . . . . . . . –38.8 –39.5 Revaluations, opening balance. . . . 17.5 17.5 Depreciation of revaluations, opening balance . . . . . . . . . . . . . . . . . . . . –7.5 –7.2 Depreciation of revaluated amount for the year . . . . . . . . . . . . . . . . –0.4 –0.3 Accumulated revaluations, net, closing balance . . . . . . . . . . . . . . 9.6 10.0 Reported value . . . . . . . . . . . . . . . . . . . . . . . . . 366.3 265.5 Tax assessment value of land . . . . . 162.7 173.1 67
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STENA METALL AB Annual Report 2004/
Page 4 and 5:
Chief Executive Officer’s comment
Page 6 and 7:
Chief Executive Officer’s comment
Page 8 and 9:
Stena Metall Group Operations in 23
Page 10 and 11:
Advances in recycling More recyclin
Page 12 and 13:
Examples of recycling Recycling pro
Page 14 and 15:
Competence development We are const
Page 16 and 17:
Research and development Efforts to
Page 18 and 19: Recycling 16
Page 20: Recycling | Sweden Ferrous and Non-
Page 23 and 24: Recycling | Sweden ees in sorting t
Page 25 and 26: Recycling | Sweden drain cleaning a
Page 28 and 29: Recycling | Sweden Smelt aluminium
Page 30 and 31: Recycling | Denmark Recycling | Den
Page 33 and 34: Recycling | Denmark ▲ During the
Page 35: Recycling | Denmark tighten require
Page 38 and 39: Recycling | Norway Ferrous and Non-
Page 40 and 41: Recycling | Finland Recycling | Fin
Page 42 and 43: Recycling | Finland WEEE New legisl
Page 44 and 45: Recycling | Poland Recycling | Pola
Page 46 and 47: Recycling | Poland WEEE In autumn 2
Page 48 and 49: Trading 46
Page 50 and 51: Steel 48
Page 52 and 53: Olja | Stena Oil Oil 50
Page 54 and 55: Finance | Stena Metall Finans Stena
Page 57 and 58: Financial review Directors’ repor
Page 59 and 60: Financial review | The Group Income
Page 61 and 62: Financial review | The Group August
Page 63 and 64: Financial review | The Group Accoun
Page 65 and 66: Financial review | The Group Invent
Page 67: Financial review | The Group 2 Fees
Page 71 and 72: Financial review | The Group 20 Oth
Page 73 and 74: Financial review | The Group 30 Ass
Page 75 and 76: Financial review | The Group Invent
Page 77 and 78: Financial Review | Parent Company B
Page 79 and 80: Financial review | Parent Company 8
Page 81 and 82: Financial review | Parent Company 1
Page 83 and 84: Financial review | Parent Company S
Page 85 and 86: Auditors’ report To the Annual Ge
Page 87 and 88: Addresses Sweden Stena Metall AB Fi
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