Annual Report 2009 - Husqvarna Group

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74 Husqvarna Annual Report 2009 Notes Amounts in SEKm unless otherwise stated. NOTE 17 Share capital and number of shares Share capital SEKm On 31 December 2009, the share capital comprised: 147,570,030 Class A-shares, par value SEK 2 295 428,773,748 Class B-shares, par value SEK 2 858 Total 1,153 Number of shares Owned by Husqvarna Owned by other shareholders Total Shares, 31 Dec 2008 Class A-shares — 98,380,020 98,380,020 Class B-shares 2,919,000 283,837,875 286,756,875 Performance share program 2006 Class A-shares — — — Class B-shares –195,872 195,872 0 Rights issue Class A-shares — 49,190,010 49,190,010 Class B-shares — 142,016,873 142,016,873 Repurchased shares Class A-shares — — — Class B-shares — — — Shares, 31 Dec 2009 Class A-shares — 147,570,030 147,570,030 Class B-shares 2,723,128 426,050,620 428,773,748 The share capital in Husqvarna AB consists of class A-shares and class B-shares. A class A-share entitles the holder to one vote and a class B-share to one-tenth of a vote. All shares entitle the holder to the same proportion of assets and earnings, and carry equal rights in terms of dividends. NOTE 18 Untaxed reserves, Parent Company NOTE 19 Employees and employee benefits 31 Dec 2009 Appropriations Acquisitions 31 Dec 2008 Accumulated depreciation in excess of plan on Brands etc 69 58 — 11 Machinery and equipment 199 –49 2 246 Buildings 25 –1 — 26 Tax allocation reserve 582 0 — 582 Other financial reserves 26 –11 — 37 Total 901 –3 2 902 Other financial reserves include fiscally permissible appropriations referring to receivables in companies in politically and economically unstable countries. Number of employees Average number of employees Men Women 2009 Parent Company 1,500 1,169 331 Group Companies 13,530 8,439 5,091 Total Group 15,030 9,608 5,422 2008 Parent Company 1,780 1,376 404 Group Companies 13,940 8,623 5,317 Total Group 15,720 9,999 5,721 A detailed specification of the average number of employees by country and gender has been submitted to the Swedish Companies Registration Office and is available on request from Husqvarna AB, Investor Relations.
Notes Husqvarna Annual Report 2009 75 Amounts in SEKm unless otherwise stated. Average number of employees by geographical area Geographical area 2009 2008 Europe 6,469 7,151 North America 5,581 6,285 Rest of the world 2,980 2,284 Total Group 15,030 15,720 Of the Board members and other senior management in the Group, 89 (88) were men and 8 (13) women, of whom 13 (13) men and 5 (5) women were employed in the Parent Company. Salaries and other remuneration to Board, President and other senior management 2009 2008 Parent Company Salaries and other remuneration 32 32 (of which variable salaries) (4) (0) Pension costs 15 20 Group Companies Salaries and other remuneration 62 68 (of which variable salaries) (10) (12) Pension costs 6 7 Salaries and other remuneration for the total Group amounted to SEK 3,998m (4,037). This amount includes salaries and remuneration to the Board, the President, former President and other senior management of 94m (100). Employer contributions excluding pension costs for the Group amounted to SEK 928m (912). The Group’s total pension costs according to IAS 19 amounted to 232m (210). Salaries and other remuneration in the Parent Company amounted to SEK 701m (748). This includes salaries and remuneration to the Board, President, former President and other senior management of 32m (32). Employer contributions excluding pension costs in the Parent Company amounted to SEK 240m (252). Pension costs in the Parent Company amounted, according to Swedish GAAP, to SEK 60m (58). For more information concerning fixed and variable salaries, remuneration and pension costs for Board of Directors, President and other members of Group Management, see Note 24. For a presentation and description of the composition of the Board and members of Group Management, see pages 84–86. In accordance with the regulations in the Swedish Annual Accounts Act absence due to illness for employees in the Parent Company and its subsidiaries in Sweden is reported in the table below. The Parent Company comprises the Group’s head office as well as a number of units and plants, and employs the majority of the Group’s personnel in Sweden. Employee absence due to illness 2009 2008 Employees in the Parent Company All employees in Sweden Employees in the Parent Company All employees in Sweden Total absence due to illness, as a percentage of total normal working hours 3.0 3.3 4.5 4.6 Of which 60 days or more 36.8 39.7 38.3 40.7 Absence due to illness, by category 1 Women 3.9 4.2 5.7 5.9 Men 2.7 3.0 4.1 4.2 29 years or younger 1.8 2.5 3.8 4.1 30–49 years 2.9 3.0 4.0 4.2 50 years or older 4.0 4.3 6.0 5.9 1) % of total normal working hours within each category, respectively. Pensions and other post-employment benefits In many of the countries in which Husqvarna has operations the employees are covered by pension plans in addition to statutory social security pension benefits. These pension plans are classified as either defined contribution plans or defined benefit plans. The Group’s most extensive defined benefit pension plans are in the UK, Germany, Sweden, the US, Japan and Norway. The pension plans in these countries are funded except for the plans in Germany where the main plan is unfunded. Funded plans imply that there are assets in legal entities that exist solely to finance employee benefits. In the UK the employees are covered by either a final salary plan, which has been closed since 2003 for new employees, or the career-average salary plan which applies for employees hired after 2003. The main pension plan for the Group’s employees in Germany is an unfunded cash balance plan. White collar employees in Sweden, born 1978 or earlier, are covered by a final salary collectively bargained defined benefit plan (ITP2). The retirement provision of the defined benefit plan is financed through a pension fund. In one subsidiary, with a small number of employees, the ITP plan is completely insured with an insurance company. The insurance company does not separate the pension assets for each member company, i.e. does not provide the information needed for the accounting of the plan as a defined bene fit plan and therefore this plan has been treated as a defined contribution plan. The Group’s defined benefit pension plan in the US was closed for future pension accrual at the end of 2008.
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Annual Report 2009
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Net sales Operating income and marg
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Husqvarna Annual Report 2009 1 High
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History Husqvarna Annual Report 200
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Report by the President Husqvarna A
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Strategy Husqvarna Annual Report 20
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Financial goals Husqvarna Annual Re
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Husqvarna Annual Report 2009 15 New
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Husqvarna Annual Report 2009 17 Con
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Consumer Products Husqvarna Annual
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Consumer Products Husqvarna Annual
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