Annual report 2012 - Comrod

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Annual report 2012 70/92Strategies and values | Group | Parent company | Corporate governance | ContactFinancial statement Notes Auditors reportCont. Note 2 - Investments in subsidiaresThe provisional fair value of the identifiable assets and liabilities of WIBE TM AB as at the date of acquisition was:ASSETSFair value recognizedon acquisitionUnaudited (NOK 1000)Property, plant and equipment 1 312Intangible assets 2 956Deferred tax asset 423Trade receivables 1 001Inventories 14 278Other current assets 31120 281LIABILITIESBank overdraft -6 652Trade payables -1 155Other current liabilities -1 518-9 325Total identifiable net assets at fair value 10 956Non-controlling interest measured at fair value -1 716Goodwill arising on acquisition 1 373Purchase consideration transferred 10 613Bank overdraft acquired with the subsidiary -6 652Contingent liability -849Cash paid - 9 764Net cash outflow 17 266From the date of the acquisition, WIBE TM has contributed MNOK 8.3 of revenue and with a negative effect of MNOK 2.0 to net profitbefore tax.The transaction costs of NOK 1 276 590 have been expensed and are included in other operating expenses in the income statement.70
Annual report 2012 71/92Strategies and values | Group | Parent company | Corporate governance | ContactFinancial statement Notes Auditors reportNote 3 - Receivables and liabilities(NOK ) 2012 2011Short term receivablesReceivables 587 987 114 166Receivables from Group companies (see note 4) 51 122 450 55 205 211Short term receivables 51 710 437 55 319 377Other current liabilitiesOther current liabilities 765 401 635 186Current liabilities Group companies (see note 4) 7 000 000 7 000 000Other current liabilities 7 765 401 7 635 186Short term receivables from Group companies is expected paid during 2013.Note - 4 Intra - group balances(NOK ) 2012 2011Financial assetsLoans to group companies 6 539 828 10093620Total receivables to group companiesTrade receivables 932 280 861 296Other current receivables 51 122 450 55 205 211Total receivables 52 054 730 56 066 507Total liabilities to group companiesTrade payables 815 377 935 967Other current liabilities 7 000 000 7 000 000Total liabilities 7 815 377 7 935 967Note 5 - Bank deposits(NOK ) 2012 2011Restricted tax withholdings representing 310 265 450 134Unutilised group overdraft facility 14 398 000 40 523 00071
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Annual report 2012 - Comrod

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