CORRAL PETROLEUM HOLDINGS AB (PUBL) - Preem

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Reconciliation with the Group’s total result2010 2009Operating profit per segments .......................................................................................... 3,042 5,060Exchange rate differences on continuous payments .......................................................... 80 26Currency effect on normal inventories .............................................................................. (461) (524)Undistributed depreciation................................................................................................. (5) (5)Other *).............................................................................................................................. (385) (299)Total operating profit ........................................................................................................ 2,271 4,259Interest income................................................................................................................... 170 178Interest expenses................................................................................................................ (1,259) (1,373)Exchange rate differences.................................................................................................. 820 838Other net financial items.................................................................................................... (258) (153)Profit before tax................................................................................................................. 1,743 3,748*) Mainly refer to Corporate CenterOther information regarding Group’s salesThe external sales refer to, the largest extent, from sales of oil products.External sales 2010 2009Sales of oil products........................................................................................................... 77,081 63,693Other .................................................................................................................................. 175 121Total external sales............................................................................................................ 77,256 63,813Revenues of SEK 8,554 million (7,843) in 2010 refer from one separate customer and the revenue is part of thesegment Supply & Refining.Supply &Refining Marketing Other *) TotalInvestmentsInvestments in property, plant and equipment 2010 .......... 635 71 3 710Investments in property, plant and equipment 2009 .......... 520 117 4 641Investments in associated companies 2010........................ 38 - - 38Investments in associated companies 2009........................ - - - -*) Mainly refer to Corporate CenterGeographical regions—secondary segmentThe information presented in respect of income relates to the geographical regions grouped according to wherecustomers are located. Information about the segments’ assets and the period’s investments in non-current assets is basedon geographical regions grouped according to where the assets are located. “Rest of Nordic Region” in the table belowrefers primarily to Denmark and Norway, and “Other countries” primarily refers to Germany, France, the UK, Hollandand North America.SwedenRest of Nordicregion Other countries Total2010External sales..................................................................... 29,668 10,411 37,177 77,256Intangible Assets and Property, Plant and Equipment....... 9,634 - - 9,6342009External sales..................................................................... 25,173 11,157 27,483 63,813Intangible Assets and Property, Plant and Equipment....... 9,919 - - 9,919NOTE 5. EXCISE DUTIESExcise duties refer to energy tax, gasoline tax, carbon dioxide tax, sulfur tax and alcohol tax.F-23
NOTE 6. GROSS PROFITPurchases and sales of oil products in the market are essentially dollar-based. Exchange rate differences fromsales are recorded under “net sales” and exchange rate differences from purchases are recorded under “cost of goodssold.” The Group’s gross profit includes exchange rate differences from purchases and sales of oil products to a net valueof SEK 80 million (26).NOTE 7. FEES TO AUDITORS2010 2009KPMGAudit assignments......................................................................................................................... 2.4 2.6Audit business beyond the audit assignment 1.4 0.2Tax consultancy 1.5 1.1Other assignments......................................................................................................................... 0.7 0.36.0 4.2SETAudit assignments......................................................................................................................... 0.1 0.2Audit business beyond the audit assignment - -Tax consultancy - -Other assignments......................................................................................................................... - -0.1 0.2NOTE 8. WAGES AND SOCIAL COSTSWages andOther Benefits2010 2009Social Costs (ofwhich pension Wages andcosts) Other BenefitsSocial Costs (ofwhich pensioncosts)Parent Company ................................................................ - - - -(-) (-)Group Companies.............................................................. 652.8 332.7 651.6 322.6(98.9) (1) (96.6) (1)Group Total...................................................................... 652.8 332.7 651.6 322.6(1) Of the Group’s pension costs, SEK 4.3 million (4.6) relates to the Group’s Board, CEO and other senior executives.(98.9) (96.6)NOTE 9. WAGES AND OTHER BENEFITS, ALLOCATED BY REGION AND BETWEEN BOARD/CEO ANDOTHER EMPLOYEES2010 2009Board, CEO andother seniorexecutives (ofwhich bonus)OtherEmployeesBoard, CEO andother seniorexecutives (ofwhich bonus)OtherEmployeesParent Company................................................................. - - - -(-) (-)Group Companies in Sweden............................................. 14.5 638.3 14.8 636.8(-) (-)Group Companies Abroad ................................................. - - - -Total in Group Companies................................................. 14.5 638.3 14.8 636.8Group Total...................................................................... 14.5 638.3 14.8 636.8(-) (-)Senior executives“Senior executives” means both senior management and other senior executives. The group comprising seniormanagement includes the Chairman of the Board, other Board members who receive benefits from the company inaddition to the current Board fee and who are not employed by the company, and the Managing Director (MD) and CEO.The group comprising other senior executives includes 5 (6) salaried employees who are part of Preem AB’s Groupmanagement together with the CEO; all are employed by Preem. The total group of senior executives in Preem consist ofF-24
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TABLE OF CONTENTSDisclosure Regardi
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which was merged into Preem on Octo
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RISK FACTORSThe risk factors below
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the cost of exploring for, developi
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purchase a minimum of 10% to 20% of
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market price at the time of settlem
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Notes, we would try to obtain waive
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are reasonable grounds for believin
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civil liability, whether or not pre
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SELECTED CONSOLIDATED FINANCIAL DAT
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MANAGEMENT’S DISCUSSION AND ANALY
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Year ended December 31,%2008 2009 C
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arrel in February, increased to app
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(1) Includes sales by our supply an
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SEK 5,519 million, from a loss of S
Page 34 and 35:
Cash flow used in investment activi
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Restrictions on transfers of fundsW
Page 38 and 39:
Variable rate debt—amount due .
Page 40 and 41: As of December 31, 2008, SEK 21,999
Page 42 and 43: Our StrengthsOur competitive streng
Page 44 and 45: Lysekil has a total storage capacit
Page 46 and 47: Unfinished and Blend Stocks........
Page 48 and 49: Heating Oil .......................
Page 50 and 51: Business-to-Business DivisionWe pre
Page 52 and 53: “.nu,” “.org,” “.biz,”
Page 54 and 55: Energy AB, Huda Trading AB, the Swe
Page 56 and 57: was incorporated on March 22, 2007,
Page 58 and 59: RELATED PARTY TRANSACTIONSCapital T
Page 60 and 61: DESCRIPTION OF CERTAIN INDEBTEDNESS
Page 62 and 63: effected by the Third Supplemental
Page 64 and 65: first ranking mortgage certificates
Page 66 and 67: LEGAL INFORMATIONCorral Petroleum H
Page 68 and 69: CORRAL PETROLEUM HOLDINGS AB (publ)
Page 76 and 77: SubsidiariesSubsidiaries are compan
Page 78 and 79: The refinery installations consist
Page 80 and 81: of occupational pension insurance,
Page 82 and 83: Emission rights 2010LysekilGothenbu
Page 84 and 85: NOTE 2. FINANCIAL RISK MANAGEMENTTh
Page 86 and 87: In addition to price risk managemen
Page 88 and 89: The fair value of borrowing is calc
Page 92 and 93: The Board members including the Cha
Page 94 and 95: NOTE 12. EXPENSES BROKEN DOWN BY TY
Page 96 and 97: NOTE 16. EXCHANGE RATE DIFFERENCES
Page 98 and 99: Equipment, tools, fixtures and fitt
Page 100 and 101: NOTE 23. TRADE AND OTHER RECEIVABLE
Page 102 and 103: The change in the fair value of pla
Page 104 and 105: Loan conditions, effective interest
Page 106 and 107: Capitalized interest cost..........
Page 108: SalesDecember 31, 2009AccountsPurch
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