Annual Report 2012/13 - Clas Ohlson

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Certification of the annual report The consolidated financial statements have been prepared in accordance with the IFRS standards as adopted by the EU and provide a true and fair view of the Group’s financial position and results of operations. The financial statements have been prepared in accordance with generally accepted accounting principles and provide a true and fair view of the Parent Company’s financial position and results of operations. The Directors’ Report for the Group and Parent Company provides a fair overview of the development of the Group’s and Parent Company’s operations, financial position and earnings, and also describes material risks and uncertainties facing the Parent Company and companies included in the Group. Insjön, 27 June 2013 Anders Moberg Björn Haid Sanna Suvanto-Harsaae Chairman of the Board Lottie Svedenstedt Urban Jansson Cecilia Marlow Edgar Rosenberger Klas Balkow Chief Executive Officer Johan Åhlberg Employee representative (Handels) Henrik Andersson Employee representative (Unionen) Our audit report was issued on 5 July 2013 Öhrlings PricewaterhouseCoopers AB Annika Wedin Authorised Public Accountant Lennart Danielsson Authorised Public Accountant The balance sheet and income statements are to be adopted at the Annual General Meeting to be held on 7 September 2013. 76 Accounts
Audit report To the Annual General Meeting of Clas Ohlson Aktiebolag (publ) Corporate Registration Number 556035-8672 Audit report on the annual accounts and consolidated accounts We have examined the annual accounts and the consolidated accounts for Clas Ohlson AB (publ) for the financial year 1 May 2012 – 30 April 2013. The company’s annual accounts and the consolidated accounts are included in the printed version of this document on pages 48–76. The responsibility of the Board of Directors and CEO for the annual accounts and consolidated financial statements It is the responsibility of the Board of Directors and CEO for preparing annual accounts that provide a fair and true view in accordance with the Swedish Annual Accounts Act, and consolidated accounts that provide a fair and true view in accordance with the International Financial Reporting Standards, IFRS, as adopted by the EU, and the Swedish Annual Accounts Act, and for the internal control that the Board of Directors and CEO deem necessary in preparing annual accounts and consolidated accounts that do not include material misstatements, irrespective of whether these are due to falsifications or errors. Auditors’ responsibility Our responsibility is to express an opinion on the annual accounts and the consolidated financial statements based on our audit. We conducted the audit in accordance with the International Standards on Auditing and generally accepted auditing standards in Sweden. These standards require that we comply with professional requirements and plan and conduct the audit to gain reasonable assurance that the annual accounts and consolidated accounts do not include material errors. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the annual accounts and consolidated accounts. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatement of the annual accounts and consolidated accounts, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the company’s preparation and fair presentation of the annual accounts and consolidated accounts in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the company’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by the Board of Directors and the CEO, as well as evaluating the overall presentation of the annual accounts and consolidated accounts. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinions In our opinion, the annual accounts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of the Parent Company as of 30 April 2013 and its financial performance and cash flows for the year in accordance with the Annual Accounts Act. The consolidated financial accounts have been prepared in accordance with the Annual Accounts Act and present fairly, in all material respects, the financial position of the Group as of 30 April 2013 and its financial performance and cash flows for the year in accordance with the International Financing Reporting Standards, as adopted by the EU, and the Annual Accounts Act. A Corporate Governance Report has been established. The statutory administration report and the Corporate Governance Report are consistent with the other parts of the annual accounts and consolidated accounts. We therefore recommend that the annual meeting of shareholders adopt the income statement and balance sheet for the Parent Company and the Group. Reports on other legal and regulatory requirements In addition to our audit of the annual accounts and consolidated accounts, we have also examined the proposed appropriations of the company’s profit or loss and the administration of the Board of Directors and the CEO of Clas Ohlson AB (publ) for the financial year 1 May 2012 – 30 April 2013. Responsibility of the Board of Directors and CEO The Board of Directors is responsible for the proposal for appropriations of the company’s profit or loss, and the Board of Directors and the CEO are responsible for administration under the Companies Act. Auditors’ responsibility Our responsibility is to express an opinion with reasonable assurance on the proposed appropriations of the company’s profit or loss and on the administration based on our audit. We conducted the audit in accordance with generally accepted auditing standards in Sweden. As a basis for our opinion on the Board of Directors’ proposed appropriations of the company’s profit or loss, we examined the Board of Directors’ reasoned statement and a selection of supporting evidence in order to be able to assess whether the proposal is in accordance with the Companies Act. As a basis for our opinion concerning discharge from liability, in addition to our audit of the annual accounts and consolidated accounts, we examined significant decisions, actions taken and circumstances of the company in order to determine whether any member of the Board of Directors or the CEO is liable to the company. We also examined whether any member of the Board of Directors or the CEO has, in any other way, acted in contravention of the Companies Act, the Annual Accounts Act or the Articles of Association. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Opinions We recommend to the annual meeting of shareholders that the profit be appropriated in accordance with the proposal in the statutory administration report and that the members of the Board of Directors and the CEO be discharged from liability for the financial year. Insjön, 5 July 2013 Öhrlings PricewaterhouseCoopers AB Annika Wedin Authorised Public Accountant Lennart Danielsson Authorised Public Accountant Audit report 77
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Annual Report 2012/13
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More people discover Clas Ohls Clas
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International expansion The year in
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share responsibility for improving
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Strategic orientation Clas Ohlson
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High level of service The level of
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Market overview Overall, the retail
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and Kjell & Co. As shown in the tab
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Marketing Our marketing communicati
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Multi-channel strategy - “one Cla
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Three sizes Clas Ohlson has custome
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New markets - the key to internatio
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environmental properties of product
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Clas Ohlson's distribution centre i
Page 29 and 30: smaller, individual specialist reta
Page 31 and 32: Sustainable development Clas Ohlson
Page 33 and 34: Significant events during the year
Page 35 and 36: Business ethics Clas Ohlson works t
Page 37 and 38: Preventive and training measures In
Page 39 and 40: The CSR audit process At Clas Ohlso
Page 41 and 42: From Lund to London in less than tw
Page 43 and 44: Focus on spare parts - Clas Ohlson
Page 45 and 46: Organisation and responsibility Env
Page 47 and 48: Clas Ohlson’s catalogues are prin
Page 49 and 50: One of Sweden's largest Annual Gene
Page 51 and 52: Trend in share capital Additional A
Page 53 and 54: On 21 November 2012, the Swedish Go
Page 55 and 56: ses the Chairman of the AGM. At Cla
Page 57 and 58: nance of subsidiaries, as well as t
Page 59 and 60: Control environment The control env
Page 61 and 62: financial year, LTI 2010 was conclu
Page 63 and 64: Comments Sales Sales amounted to SE
Page 65 and 66: Group Balance sheet SEK M Note 30 A
Page 67 and 68: Parent Company Balance sheet SEK M
Page 69 and 70: and expenses directly attributable
Page 71 and 72: Price risk The price risk is regard
Page 73 and 74: emuneration is also conditional upo
Page 75 and 76: Note 10 Earnings per share Earnings
Page 77 and 78: Of the total expense, SEK 0.0 M (0.
Page 79: Group 2012/13 2011/12 Rents and lea
Page 83 and 84: Björn Haid Board member since 1990
Page 85 and 86: Henrik Andersson Board member since
Page 87 and 88: Göran Melin CFO. Employee since 20
Page 89 and 90: Addresses Head office Clas Ohlson A
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Annual Report 2012/13 - Clas Ohlson

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