Untitled - Saxo World

NOTES to the financial statementsSaxo Bank GroupSaxo Bank A/SNote (DKK 1,000) 2009 2008 2009 200816 Investments in subsidiariesCost, beginning - - 280,422 240,046Additions - - 448,202 78,824Goodwill related to acquisitions - - (164,401) (38,448)Total cost, end - - 564,223 280,422Revaluation, beginning - - 255,834 38,208Net profit for the year after tax - - 117,817 192,267Exchange rate adjustments - - (5,828) 25,359Revaluation, end - - 367,823 255,834Total investments in subsidiaries - - 932,046 536,256Statutoryresult(DKK 1,000)Statutoryequity(DKK 1,000)Subsidiaries a)OwnershipFinancial institutionsSaxo Bank (Switzerland) SA, Switzerland 4,114 189,475 100%Saxo Capital Markets Pte. Ltd., Singapore 107,236 405,107 100%Saxo Bank Japan K.K., Japan (incl Astmax FX Co., Ltd., consolidated from 1 July 2009) 15,222 22,335 100%Saxo Banque France SAS, France 3,273 50,258 100%Investpad SAS, France (387) (9,338) 100%Saxo Bank Dubai Ltd., Dubai (established 1 May 2009) 1,020 40,207 100%Global Evolution Fondsmæglerselskab A/S, Kolding,(consolidated from 1 June 2009)Capital Four Management Fondsmæglerselskab A/S, Hellerup,(consolidated from 1 June 2009)Fondsmæglerselskabet Sirius Kapitalforvaltning A/S, Hellerup,(consolidated from 1 January 2009)(244) 10,533 51%2,436 6,157 100%1,022 8,387 100%SBSF Ltd., UK, (established 1 September 2009) (845) (830) 100%Saxo Capital Markets BV, Holland, (consolidated from 30 September 2009) (426) 4,305 100%OtherSaxo Soft A/S, Hellerup (2,620) (466) 100%I.I.Real Estate A/S, Hellerup (1,444) 561 100%Saxo Jet A/S, Hellerup (3,456) (10,018) 100%Ejendomsselskabet Bygning 119 A/S, Hellerup,(consolidated from 31 December 2009)- 50,609 100%Translation to Danish Kroner as described in note 1.a)Unless otherwise stated the statutory result covers the period 1 January - 31 December 2009 - except additions during the year.ANNUAL REPORT 2009 · SAXO BANK · 57