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2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
2012.MasterPresentation_final [Compatibility Mode] - TTS Group ASA
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Pension Obligation<br />
• <strong>TTS</strong> has a defined contribution scheme for the majority of its<br />
Norwegian employees<br />
• <strong>TTS</strong> to adopt IAS 19 from 1 January 2013<br />
- Liability being reflected in the balance sheet (and affect equity)<br />
- Currently obligation is estimated to be between 50 and 80 MNOK<br />
and represents 6-10 % on the equity ratio<br />
- The change has limited impact to P&L and no cash effect<br />
• <strong>TTS</strong> is expecting that legislation changes in progress could reduce<br />
liability in 2013
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