Annual Report 2012 - Inwido

FINANCIAL STATEMENTS
Group, SEKm 2012 2011
Depreciation is included in the following
items in the income statement:
Cost of goods sold -96.9 -107.8
Total -96.9 -107.8
Impairment is included in the following
items in the income statement:
Cost of goods sold -7.4 -7.4
Selling expenses - -1.9
Administrative expenses - -7.4
Total -7.4 -16.7
The restructuring and closure of operations in Sweden necessitated
impairment of tangible fixed assets.
Equipment
Parent Company, SEKm 2012 2011
Accumulated cost
Opening balance 1.8 1.6
Acquisitions 0.0 0.2
Closing balance 1.8 1.8
Accumulated amortization
Opening balance -1.4 -1.3
Depreciation for the year -0.1 -0.1
Closing balance, 31 December 2011 -1.5 -1.4
Carrying amounts 0.3 0.4
Financial leasing (leased production equipment)
The Group leases production equipment through several different financial leasing agreements. The variable fees consist
of non-fixed interest rates linked to local reference rates in Denmark, Norway and Poland. As the leasing agreements
expire, the Group has the option of buying the equipment at favourable prices. There are options to extend the leasing
agreements at lower than current prices. The leased assets act as collateral for the leasing liabilities.
Group, SEKm 2012 2011
Book value 21.5 29.3
Minimum lease fees paid during the year 6.0 11.0
Group, SEKm 2012 2011
Future payment obligations for Calculated Calculated
non-cancellable leasing contracts: current value current value
Within 1 year 6.7 6.4 10.8 10.5
2-5 years 14.6 13.0 18.4 16.3
Later than 5 years 0.2 0.2 - -
21.5 19.6 29.3 26.8
Note 14 Participations in associated companies
Group, SEKm 2012 2011
Carrying amount at start of year 5.0 4.1
Acquisitions of associated companies 1.0 -
Participations in profit of associated companies 1.0 2.1
Share in taxes of associated companies -0.2 -0.3
Dividend -1.5 -1.0
Translation difference 0.0 0.1
Carrying amount at end of year 5.3 5.0
Specified below are the consolidated values for the ownership proportion of income, profit/loss, assets and liabilities.
Associated companies, SEKm
Partici-
Ownership pation in
share profit/loss Value if Carrying
2012 Country Revenue Earnings Assets Liabilities Equity in % after tax listed amount
Parent Company’s:
Abell AB Sweden 2.1 0.8 0.9 0.7 0.2 30.0 0.0 - 1.0
Subsidiaries’:
UAB Panorama Nordic Ltd Lithuania 15.5 2.6 7.9 1.4 6.5 40.0 0.8 - 4.3
0.8 5.3
2011
Subsidiaries’:
UAB Panorama Nordic Ltd Lithuania 20.7 5.4 10.2 1.5 8.6 40.0 1.9 - 5.0
1.9 - 5.0
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Inwido AB | Annual Report 2012