Financial Reports / NotesNote 18 InventoriesGroup 2007 2006Raw materials 60,041 39,446Finished products 74,496 54,866Total 134,537 94,312Note 19 Accounts receivableThe Group’s accounts receivable have the following maturity structure.The parent company has no accounts receivable.Days dueNot due 134,6560-30 days 39,33431-60 23,64861-90 7,106>90 17,252Total 221,996Note 20 Other current receivablesOf which pre-paid costs and accrued incomeGroupParent Company2007 2006 2007 2006Pre-paid rent 851 688 0 0Prepaid insurance 1,684 1,863 0 680Accruedcontracting income 4,867 374 0 0Other items 6,481 6,057 206 84Total 13,883 8,982 206 764Note 21 Liquid fundsGroupParent Company2007 2006 2007 2006Cash and bank 105,710 134,139 6,948 83,453Short-termgroup loans - 0 20,859 8,675Liquid funds 105,710 134,139 27,808 92,128In the parent company’s balance sheet short-term group loansamounted to SKr 20,859,000 (8,675,000) and consisted in theirentirety of Swedish subsidiaries’ share of the Group check account.The parent company’s short-term placements amounted toSKr 18,112,000 (0).Note 22 EquitySeries “A” Series “B” Total no.Shares shares shares of sharesShares31 Dec 2006 - 31 Dec 2007 720,000 3,499,533 4,219,533Each share has a par value of SKr 25. Each Series “A” share carriesone vote and each Series “B” share 1/10th of a vote. All the sharesare fully paid up.Buyback of company sharesThe company has no share buyback programme.Option programmesThe company has no option programmes.Effect of currency fluctuations on equityGroupParent company2007 2006 2007 2006Change in connectionwith year’s translationof accounts ofexisting subsidiaries 1,065 -1,916 0 0The Group reduced its currency fluctuations for the period by SKr1,674,000 (3,955,000) by hedging transactions, and the parent companyreduced its by SKr 0 (0).Note 23 Minority interestsThe consolidation of the associate companies Plastidrum SRL,Magyar Plastigoute Kft and Svensk Bilvård AB has given rise to aminority interest in the result and the equity. In the profit and lossaccount, the interest in the result amounts to SKr 3,978,000. Theminority interest in equity amounts to SKr 51,315,000, of whichPlastidrum accounts for SKr 21,952,000, Magyar Plastiroute for SKr29,192,000 and Svensk Bilvård for SKr 171,000.Note 24 Pension provisions andsimilar commitmentsGroup 2007 2006FPG/PRI pensions 2,495 2,661Other pension commitments 5,460 4,2267,955 6,887The costs stated in the profit andloss account are the following:Costs for service during current year 992 823Interest costs 76 107Costs for service during previous years - -1,132Total, included in personnel costs, Note 4 1,068 -382Note 25 Other provisionsGroupParent company2007 2006 2007 2006Guarantees 1,298 1,575 0 0Provision for guaranteesin connection withcompany divestments 3,132 3,132 3,132 3,132Other items 1,728 256 0 0Total 6,158 4,963 3,132 3,13270
Financial Reports / NotesNote 26 BorrowingInterest-bearing liabilitiesGroupParent company2007 2006 2007 2006Long-termLiabilities tocredit institutions 309,632 244,365 18,997 39,908Total 309,632 244,365 18,997 39,908Current liabilitiesCheque account credit 114,537 83,114 0 0Liabilities tocredit institutions 171,601 63745 114,277 51,859Total 286,138 146,859 114,277 51,859Total interestbearingliabilities 596,270 391,220 133,274 91,767MaturitiesLong-term liabilitieswith durations inexcess of five yearsLiabilities tocredit institutions 52,337 80,058 0 0Total 52,337 80,058 0 0The Group’s liabilities to credit institutions include foreign currencyloans equivalent to SKr 174 million (114), which have been raised bythe parent company and Swedish subsidiaries as currency hedgesfor investments in the corresponding currencies. In some cases,these loans are formally short term, but are rolled over regularly.The Group’s borrowing (except for cheque account credits atfloating rates of interest) is exposed to interest rate renegotiationsand maturity dates as follows:Less thanMore thanGroup one year 1-5 years five years TotalAt 31 December 2007 369,827 77,356 33,870 481,232Parent companyAt 31 December 2007 133,274 - - 133,274The Group does not use interest swaps or similar instruments.The weighted average effective interest rates were:GroupParent company2007 2006 2007 2006Long-term liabilitiesto credit institutions 5.55% 4.88% - -Current liabilitiesto credit institutions 6.00% 4.05% 5.11% 4.06%The interest on cheque account credits is at floating rates based oneach bank’s base rate in the respective currency.Cheque account creditThe credit granted on the Group’s cheque account credit amounts toSKr 110,866,000 (100,696,000), and on the parent company’s it isSKr 19,450,000 (19,025,000).Note 27 Other current liabilitiesOf which contracts in progressGroup 2007 2006Income from contracts recognised asincome during the accounting period 5,789 13,075Accumulated contract costs and statedprofit after deduction of recognised losses -1,047 -9,345Advance payments received 10,827 14,087Liabilities to customers inrespect of work in progress 9,780 4,742The above items relate to contracting services recognised in accordancewith the rules for successive recognition of profit.Of which accrued costs and deferred incomeGroupParent company2007 2006 2007 2006Accruedinterest costs 3,085 1,823 981 503Accrued wages,salaries and fees 5,570 4,764 1,719 1,520Accrued bonuses 1,287 1,906 0 0Holiday pay 18,845 16,972 1,347 1,043Accrued socialsecurity charges 5,907 5,289 156 270Other items 14,530 20,102 1,137 695Total 49,224 50,856 5,340 4,031Note 28 Pledged assetsGroupParent company2007 2006 2007 2006For own provisionsand liabilitiesIn respect of liabilitiesto credit institutions:Floating charges 0 0 0 0Property mortgages 27,849 47,106 0 0Total pledged assets 27,849 47,106 0 0Note 29 Contingent liabilitiesGroupParent Company2007 2006 2007 2006Contingent liabilitieson behalf of otherGroup companies 0 0 423,814 290,751Other contingentliabilities 24,264 19,814 3,000 3,000Total contingentliabilities 24,264 19,814 426,814 293,751The contingent liabilities mostly consist of performance guarantees.The buyers of Gatu och Väg AB and AB Underås have each, independentlyof each other and regarding several items that are independentof each other, expressed demands to the vendor, AB<strong>Geveko</strong>, for compensation for guarantees issued.71