PDF Document 2.46 MB - Geveko

Financial Reports / NotesNote 35 Average no. of employees, etc.2007 2006OfOfAverage no whom Average no whomof employees male, % of employees male, %Parent companySweden 5 60 4 75Total parent company 5 60 4 75Subsidiary companiesSweden 154 89 163 88Denmark 136 75 138 75Finland 28 71 27 81Norway 27 81 26 81Netherlands 3 32 2 50Poland 59 89 5 40Romania 111 82 132 83Switzerland 3 63 4 75Slovakia 2 100 - -Great Britain 76 88 74 93Czech Republic 7 100 9 100Germany 27 81 27 81Total subsidiary companies 633 83 607 83Total Group 638 83 611 83Board members and senior management personnel2007 2006No. on Of No. on Ofclosing whom closing whomdate male, % date male, %Group(including subsidiaries)Board members 24 92 24 92Managing directorsof Group companies 9 100 9 100Parent companyBoard members 7 86 7 86Managing director ofparent and subsidiariescompanies 1 100 1 100Sick leaveThe parent company has fewer than 10 employees and is thereforenot required to provide information on sick leave.Note 36 Important estimates and assessmentsfor accounting purposesEstimates and assessments are evaluated regularly and based onpast experience and other factors that appear reasonable under prevailingconditions.The estimates and assumptions that involve a serious risk ofsignificant adjustments to the book values of assets and liabilitiesduring the following financial year are discussed below.Valuation of intangible item Customer contractsWhen the Romanian company Plastidrum became a subsidiary in2004, all its assets and liabilities were revalued to market value, atwhich point this intangible item was stated for the first time. Thebalance sheet item relates to the value of customer contracts, contactsand information on the Romanian market for road-markingcontracts and will be written off over a 5 to 10-year period.In 2007 three Polish contract road-marking companies –Dartom, GiK and Technom – were acquired, as well as Osfer inSlovakia. The balance sheet item reflects the value of customerrelations and will be depreciated over three years.Deferred tax receivables and loss allowancesThe Geveko Group had deferred tax receivables of SKr 5,545,000(5,918,000) as of 31 December 2007 relating to the businesses inGreat Britain, Sweden and Germany. The Group has further lossallowances in Great Britain, Germany and Poland amounting toSKr 28,692,000 (36,665,000). See also Note 10.The value of this item may be adjusted in 2008 depending onnew estimates of future profits.Note 37 Events after the end of the financial yearIn 2007, Geveko announced that the development and expansion ofIndustrial Operations, which is wholly owned and unlisted, wouldbe given priority rather than Management of Securities. In the secondhalf of 2007 six companies were acquired within Industrial Operations.The reduction in Management of Securities meant that the criteria forinvestment trust status was deemed no longer to be satisfied. The taxauthority has announced that it considers that Geveko ceased to haveinvestment trust status as of 30 November 2007.Note 38 Information on AB GevekoThe registered office of AB Geveko (publ) (co. reg. no. 556024-6844)is in Gothenburg, Sweden. The visiting address of the company’shead office is Marieholmsgatan 36, and the postal address isBox 2137, 403 13 Gothenburg, Sweden.The parent company is listed on the Stockholm StockExchange, Sweden.Note 39 Publication of annual reportThese consolidated financial statements were approved by the Boardfor publication on 25 February 2008.75