PDF Document 2.46 MB - Geveko

Financial Reports / NotesNote 1 Shares and other securitiesMarketMarketNo. of value No. of valueshares 31-12-2007 shares 31-12-2006Listed sharesABB Ltd - - 100,000 12,275Assa Abloy, B - - 150,000 22,350AstraZeneca - - 110,000 40,425Cardo 100,000 20,100 120,000 31,200Cision 100,000 1,700 - -Ericsson, B - - 1,200,000 33,180Getinge, B 50,000 8,675 300,000 46,050Gunnebo 360,000 23,400 372,000 29,388Hennes & Mauritz, B 100,000 39,350 170,000 58,820Lundin Petroleum - - 100,000 7,950Midelfart Sonesson, B 200,000 2,000 - -NCC, B - - 25,000 4,687Nordea - - 300,000 31,650Sandvik 160,000 17,800 - -SCA, B 220,000 25,190 70,000 25,025SEB, A - - 75,000 16,313Securitas, B - - 300,000 31,875SHB, A - - 130,000 26,910SKF, B 94,000 10,293 - -Stora Enso, R - - 100,000 10,800Teleca, B - - 100,000 2,790Transatlantic, B 400,000 17,240 280,000 14,280Transcom, B 50,000 2,420 - -Trelleborg, B 100,000 13,550 300,000 49,200AGI ChinaEast Asia Fund 16,213 31,893 16,213 22,342HealthinvestGlobal L/S Fund 91,274 5,798 91,274 10,000SEB 06/10 EquityIndex bond 10,000,000 9,414 - 11,728Kaupthing EquityIndex Bond 5,000,000 5,434 - -TotalSwedish securities 234,257 539,238Norsk Hydro (Norway) - - 60,000 12,672Statoil (Norway) - - 60,000 10,821Totalforeign securities - - 23,493Totallisted securities 234,257 562,731Unlisted securities - 75 - 50Total parent company 234,332 562,781Subsidiary companiesInnKap 3 Partners Sweden KB 13,935 11,144InnKap 4 Partners LP 942 471Option premiums - 323Other holdings 416 340Total subsidiary company holdings 15,293 12,278Total Group holdings 249,625 575,059Issued call options have the effect of reducing the market value bySKr 0 million (0).Note 1 Shares and other securities, cont’dListed securities Group Parent companyOpening value 562,731 562,731Acquisitions 179,192 179,192Sales -502,124 -502,124Change in value -5,542 -5,542Closing value 234,257 234,257Unlisted securitiesand optionsOpening value 12,328 50Acquisitions 20,601 15,871Sales -4,219 -2,770Change in value -13,357 -13,076Translation differences 15 -Closing value 15,368 75Listed securities are valued at their market value in accordance withthe amendment to the Annual Accounts Act that came into effect on1 January 2004. The book value exceeds the acquisition value bysome SKr 19 million.Pursuant to a decision that the Equities Portfolio is to bedivested, the Portfolio is classified in the parent company ABGeveko’s accounts under Current Assets as of 31 December 2007,prior to which it was classified under Fixed Assets.The units in the InnKap funds are valued at their marketvalue. Each of the funds manages a portfolio of shares in developingcompanies, many of which are in the early phase of their development.They are valued in accordance with normal methods used inthe venture capital industry for valuing companies in their earlydevelopment phase. Geveko’s total commitment to invest furthercapital amounts to 3,500.000 euro. Remaining commitments as of31 Dec 2007 amount to 1,200,000 euro or SKr 11,3 million. In thecase of other unlisted shares and securities, their book value isdeemed to be the same as their market value.Note 2 Reporting by segmentPrimary segments – lines of businessThe Group is organised into two lines of business: IndustrialOperations and Management of Securities.Industrial Operations consists of two business areas: RoadMarking and ChemTech. The Road Marking business area comprisesthe manufacture and sale of thermoplastic material and paint forroad marking, as well as a contract road-marking sector, mainlyusing thermoplastics and paint. The ChemTech business area comprisesthe manufacture and sale of corrosion protection agents,industrial paints and marking sprays. As ChemTech’s turnover, resultand assets represent less than 10% of the corresponding figures forthe Group, the business area is not treated as a separate segment.Management of Securities comprises the Group’s securitiesmanagement activities.Central items represent common costs. The assets used in theIndustrial Operations division consist mainly of tangible fixedassets, intangible fixed assets, inventories, receivables, and operatingfunds. Industrial Operations’ liabilities consist of operating liabilities,but not items such as tax and some corporate borrowing. Capitalexpenditure consists of purchases of tangible fixed assets and intangiblefixed assets. The assets used by Management of Securities consistof the share portfolio and units in venture capital funds.64