Annual Report 2012 - Inwido

FINANCIAL STATEMENTS
Note 20 Interest-bearing liabilities
The following presents details of the company’s agreement
terms for interest-bearing liabilities, without taking the company’s
interest rate swaps into account. For further details of
the company’s exposure to interest rate risks and currency
risks, please see Note 2.
Group, SEKm 2012 2011
Non-current liabilities
Liabilities to credit institutions 1,013.6 1,315.1
Financial lease liabilities 14.8 18.4
Total 1,028.4 1,333.5
Current liabilities
Overdraft facilities 122.2 99.9
Current liabilities to credit institutions 95.2 232.7
Current portion of financial lease liabilities 6.7 10.9
Total 224.1 343.5
Liabilities maturing later than five years
after the balance sheet date
Bank loans 10.9 16.0
Financial leasing 0.2 0.0
Terms and repayment periods
2012 2011
Nominal
Nominal
Nominal carrying carrying
Group, SEKm Currency interest, % Matures amount Book value amount Book value
Credit institute SEK 3.3-3.9 2 Oct. 2014 262.4 262.4 402.7 402.7
Credit institute EUR 1.5-3.3 2 Oct. 2014 239.3 239.3 319.6 319.6
Credit institute NOK 4.1 18 July 2017 4.6 4.6 5.5 5.5
Credit institute DKK 3.5-4.0 2 Oct. 2014 483.7 483.7 725.5 725.5
- 30 Sept. 2026
Credit institute PLN 5.6 2 Oct. 2014 52.3 52.3 50.1 50.1
Credit institute GBP 2.5-3.0 2 Oct. 2014 43.5 43.5 44.4 44.4
Credit institute RUB 2.8 2 Oct. 2014 22.6 22.6 0.0 0.0
Financial lease liabilities DKK, NOK 1.5-5.8 21.6 21.6 29.3 29.3
Overdraft facilities utilized SEK, EUR, DKK, PLN, GBP 2.25-4.2 2 Oct. 2014 122.2 122.2 99.9 99.9
Interest-bearing liabilities 1,252.2 1,252.2 1,677.0 1,677.0
Note 21 Liabilities to credit institutions
Parent Company, SEKm 2012 2011
Non-current liabilities
Bank loans 113.3 130.2
Current liabilities
Overdraft facilities 9.2 -
Current portion of bank loans - 47.3
Liabilities maturing later than
five years after the balance sheet date - -
Note 22 Provisions
Guarantee Restructuring
Group, 2012, SEKm reserve measures Total
Carrying amount at start
of period 1 January 2012 24.7 30.8 55.5
Provisions made during
the period 6.0 12.6 18.6
Amounts utilized -0.9 -42.2 -43.0
Re-classification -0.1 0.9 0.8
Acquired provisions 0.0 - 0.0
Translation difference -0.2 -0.4 -0.6
Carrying amount at end of
period 31 December 2012 29.6 1.7 31.3
of which amount expected
to be paid within 12 months 29.6 1.7 31.3
Group, 2011, SEKm
Carrying amount at start of
period 1 January 2011 18.7 8.3 27.0
Provisions made during the period 6.5 55.6 62.1
Amounts utilized -3.0 -31.4 -34.4
Re-classification 0.2 -1.6 -1.4
Acquired provisions 2.3 - 2.3
Translation difference - -0.1 -0.1
Carrying amount at end of
period 31 December 2011 24.7 30.8 55.5
of which amount expected
to be paid within 12 months 24.7 30.8 55.5
Guarantees
Provisions for guarantees and refunds are mainly attributable
to sales of windows and doors during the 2011 and 2012 financial
years. The provision was made on the basis of calculations
involving historical expense data for guarantees and refunds.
Restructuring
Of the restructuring measures adopted within Inwido,
SEK 38.1 million has impacted the profit/loss for the year
negatively. Of these restructuring expenses of SEK 38.1
million, provisions of SEK 1.7 million remained at
31 December 2012. These provisions were made to cover
the expected expenses for the closures of factories in Sweden.
It is expected that most of the measures will have been
completed during the second quarter of 2013 at the latest.
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Inwido AB | Annual Report 2012