Annual report 2011 - Trelleborg

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96 PARENT COMPANY NOTES Note 37 Employees and employee benefits Average number of employees Note 38 Auditor’s remuneration 2011 2010 Women Men Total Women Men Total Sweden 26 43 69 28 48 76 Gender distribution in executive management positions, % 2011 2010 Percentage of women in - executive positions 26 14 - on Board of Directors 29 29 Employee benefits, other remuneration and payroll overheads 2011 sek m Board, Executive Vice President and President Other members of Group Management Other employees Total salaries Payroll overheads of which, pension costs Sweden 23 16 47 86 54 22 See also Note 3 2010 sek m Board, Executive Vice President and President Other members of Group Management Other employees Total salaries Payroll overheads of which, pension costs Sweden 23 14 50 87 51 20 See also Note 3 sek m PricewaterhouseCoopers 2011 2010 Audit assignment 3 3 Audit activities other than audit assignment 3 3 Tax consultancy services 3 2 Other services 0 13 Total 9 21 Note 39 Other operating income and operating expenses sek m 2011 2010 Sales of services to other Group companies 223 224 Sales of external services 4 2 Insurance compensation – 13 Other 2 5 Total other operating income 229 244 Note 40 Expenses by nature sek m 2011 2010 Employee benefits –140 –138 Depreciation/amortization –6 –6 Other external costs –209 –194 Other operating income/expenses 229 244 Total –126 –94 Annual Report 2011 Trelleborg AB Note 41 Exchange-rate differences that impact operating profit/loss sek m 2011 2010 Administration expenses –2 –3 Other operating income/expenses 2 5 Total 0 2 Note 42 Depreciation of PPE and amortization of intangible assets sek m 2011 2010 Improvement expenses on buildings owned by others –1 –1 Equipment, tools, fixtures and fittings –1 –1 Capitalized expenditure for R&D and similar –4 –4 Total –6 –6 Note 43 Financial income and expenses sek m Income from participations in Group companies 2011 2010 Dividend 1,089 1,561 Impairment losses on shares in subsidiaries – –25 Group contributions 940 1,186 Gain/loss from divestment/winding-up of subsidiary 290 –265 Total 2,319 2,457 Other interest income and similar profit items Interest income, Group companies 29 33 Interest income, other 7 0 Exchange-rate differences 0 – Total 36 33 Interest expenses and similar loss items Interest expenses, Group companies –871 –477 Exchange-rate differences –20 0 Total –891 –477 Total financial income and expenses 1,464 2,013 Note 44 Income tax sek m Current tax expenses 2011 2010 Tax expenses for the period 0 0 Total Deferred tax expenses (-)/revenue (+) 0 0 Change in losses carried forward 3 –175 Reassessment of losses carried forward 0 0 Deferred tax expenses/revenue on changes in temporary differences 1 –1 Total 4 –176 Total recognized tax expenses/revenue 4 –176 Reconciliation of tax Profit before tax 1,338 1,919 Calculated Swedish income tax, 26.3% –352 –505 Non-taxable dividends/income from shares in subsidiaries 363 341 Non-deductible impairment losses – –7 Other non-deductible expenses/non-taxable revenue –7 –4 Tax attributable to prior years 0 –1 Other tax 0 0 Total recognized tax expenses/revenue 4 –176 Tax items reported directly in other comprehensive income Deferred tax on fair value, gains – 1 The applicable tax rate is 26.3 percent.
Note 45 Property, plant and equipment sek m 2011 2010 Improvement expenses on buildings owned by others 20 21 Equipment, tools, fixtures and fittings 3 5 Total 23 26 Note 46 Intangible fixed assets Improvement expenses on buildings owned by others Equipment, tools, fixtures and fittings sek m Accumulated cost 2011 2010 2011 2010 2011 2010 Balance, January 1 25 25 12 16 37 41 Capital expenditures – – 0 0 0 0 Divestments and disposals – – –2 –4 –2 –4 Accumulated cost, December 31 Accumulated depreciation according to plan 25 25 10 12 35 37 Balance, January 1 –4 –3 –7 –9 –11 –12 Divestments and disposals – – 1 3 1 3 Depreciation according to plan for the year –1 –1 –1 –1 –2 –2 Accumulated depreciation, December 31 –5 –4 –7 –7 –12 –11 Carrying amount 20 21 3 5 23 26 Trelleborg AB has entered into operating lease agreements. Leasing costs for assets held via operating lease agreements are recognized as operating costs and amounted to SEK 2 M (2). Future payment for noncancellable lease commitments amount to SEK 2 M (2) and fall due as follows: sek m 2011 2010 Year 1 1 1 Years 2–5 1 1 Total 2 2 sek m 2011 2010 Capitalized expenditure for development work and the equivalent 4 9 Total 4 9 Capitalized expenditure for development work and the equivalent sek m 2011 2010 Accumulated cost Balance, January 1 20 16 Capital expenditures – 4 Divestments and disposals –2 – Accumulated cost, December 31 18 20 Accumulated amortization according to plan Balance, January 1 –11 –7 Divestments and disposals 1 – Amortization according to plan for the year –4 –4 Accumulated amortization, December 31 –14 –11 Carrying amount 4 9 Note 47 Financial non-current assets sek m 2011 2010 Participations in Group companies (Note 17 and Note 48)* 34,387 34,027 Receivables in Group companies 227 329 Loan receivables 105 – Other non-current securities holdings 9 6 Other non-current receivables 4 – Total 34,732 34,362 * The difference between what is recognized in Note 47 and Note 17 pertains to transaction costs. Total Note 48 Participations in Group companies sek m 2011 2010 Balance, January 1 34,027 33,744 Add: Acquisitions 289 2 Capital contributions 91 591 Less: Divestment/winding up –20 –285 Impairment losses – –25 Carrying amount, December 31 34,387 34,027 See also Note 17. Note 49 Change in deferred tax on temporary differences and losses carried forward Note 50 Current receivables sek m 2011 2010 Operating receivables, Group companies 11 11 Other current receivables 36 22 Prepaid expenses and accrued income (Note 51) 6 19 Total 53 52 Carrying amount corresponds to fair value. Note 51 Prepaid expenses and accrued income sek m 2011 2010 Other 6 19 Total 6 19 Note 52 Interest-bearing receivables sek m 2011 2010 Financial receivables, Group companies 597 1,078 Total interest-bearing receivables 597 1,078 Carrying amount corresponds to fair value. Losses carried forward Temporary differences: Non-current receivable Non-current assets Total deferred tax asset/ liability sek m 2011 2010 2011 2010 2011 2010 2011 2010 Balance, January 1 Recognized in profit and loss: 0 175 0 0 –4 –4 –4 171 –Change in losses carried forward 3 –175 3 –175 –Temporary differences Recognized in other comprehensive income: –1 1 0 1 –1 –Deferred tax on fair value, gains 1 – 1 3 0 0 0 –3 –4 0 –4 See also Note 44. PARENT COMPANY NOTES Annual Report 2011 Trelleborg AB 97
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ANNUAL REPORT WE SEAL, DAMP AND PRO
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TRELLEBORG IN BRIEF GLOBAL LEADER I
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sek 29,106 m Demand was significant
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Trelleborg will be able to allocate
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FURTHER DEVELOPMENT OF ANTIVIBRATIO
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Continuing operations Net sales and
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KEY FIGURES Market position, no. 1-
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KEY FIGURES 2011 2010 Net sales, se
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KEY FIGURES Net sales and ROS* 2011
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KEY FIGURES 2011 2010 Net sales, se
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About the material’s properties N
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WE ARE GROWING IN PACE WITH GLOBALI
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INCREASED GLOBAL PRESENCE +11% Nort
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OUR FINANCIAL TARGETS Trelleborg sh
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EXCELLENCE - CONTINUOUS IMPROVEMENT
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Turcon® M12 is the name of a new p
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Moreover, because selected parts of
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The elevated risk level has been de
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Financial risks, cont. Maturity ter
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CORPORATE GOVERNANCE Trelleborg is
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Independence of the Board The Board
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Name Nina Udnes Tronstad Heléne Vi
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Name Maurizio Vischi Sören Anderss
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President and Group Management The
Page 49 and 50: Control staff function works in acc
Page 51 and 52: As part of the infrastructure proje
Page 53 and 54: TARGET INDICATORS OUTCOME AND PROGR
Page 55 and 56: GOVERNANCE AND CODE OF CONDUCT Gove
Page 57 and 58: ACTIVE STAKEHOLDER DIALOG Trellebor
Page 59 and 60: in the voluntary reporting process
Page 61 and 62: workplaces globally. Trelleborg’s
Page 63 and 64: RESPONSIBILITY FOR SOCIETY AND THE
Page 65 and 66: ASSURANCE REPORT Auditor’s Report
Page 67 and 68: Our finances ......................
Page 69 and 70: CONSOLIDATED INCOME STATEMENTS sek
Page 71 and 72: Operating profit In addition to dis
Page 73 and 74: Income statement per quarter Contin
Page 75 and 76: CONSOLIDATED BALANCE SHEETS Decembe
Page 77 and 78: COMMENTS ON THE CONSOLIDATED CASH-F
Page 79 and 80: Note 1 General information The Pare
Page 81 and 82: Dividend income Dividend income is
Page 83 and 84: loss. If the loan, and consequently
Page 85 and 86: Assets and liabilities by business
Page 87 and 88: Note 4 Auditor’s remuneration sek
Page 89 and 90: Note 15 Intangible assets Buildings
Page 91 and 92: Note 18 Deferred tax assets/tax lia
Page 93 and 94: Note 26 Equity Specification of oth
Page 95 and 96: At December 31, 2010 Assets at fair
Page 97 and 98: Note 36 Events after the closing da
Page 99: PARENT COMPANY, TRELLEBORG AB Chang
Page 103 and 104: Proposed treatment of unappropriate
Page 105 and 106: TEN-YEAR OVERVIEW Trelleborg Group
Page 107 and 108: Swedish and foreign ownership, base
Page 109 and 110: Spain Production: Burgos, Cascante,
Page 111 and 112: FINANCIAL DEFINITIONS AND GLOSSARY
Page 113 and 114: ADRESSES Head offices Trelleborg AB
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Annual report 2011 - Trelleborg

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