20% - Assa Abloy

ASSA ABLOY
Annual Report 2007
72
Notes 2–8
Note 2 Sales
The Group’s sales revenues come chiefly from sales of products.
Service related to products sold accounts for a very
limited part of revenues (3-4 percent).
Sales to customers, by country
Group
SEK M 2006 2007
USA 10,421 10,681
France 2,431 2,501
United Kingdom 2,107 2,179
Germany 1,610 1,649
Australia 1,310 1,583
Sweden 1,435 1,547
Spain 1,168 1,350
Netherlands 1,119 1,180
Canada 1,038 1,144
Finland 800 867
Norway 702 798
Mexico 696 679
Denmark 629 773
China 597 827
Asia (excluding China) 547 699
Middle East 431 586
Italy 455 493
Belgium 405 410
Czech Republic 369 382
South America 343 408
Switzerland 303 302
New Zealand 291 325
South Africa 279 324
Austria 251 290
Russia 180 215
Africa (excluding South Africa) 178 182
Central America (excluding Mexico) 167 174
Baltic countries 134 154
Poland 118 138
Portugal 116 127
Ireland 82 74
Romania 59 66
Greece 46 56
Turkey 58 54
Other countries 262 333
Total 31,137 33,550
Note 3 Auditors’ fees
Group
Parent
company
SEK M 2006 2007 2006 2007
Audit
Pricewaterhouse-
Coopers 19 22 3 2
Other 5 6 – –
Assignments other
than audit
Pricewaterhouse-
Coopers 17 12 1 2
Other 4 5 – 2
Total 45 45 4 6
Note 4 Other operating income and expenses
Group
SEK M 2006 2007
Rent received 19 14
Net income from sales of fixed assets 6 52
Government grants 4 4
Business-related taxes –32 –42
Other, net –6 –9
Total -9 19
Parent company
Other operating income in the Parent company consists
mainly of franchise and royalty revenues from subsidiaries.
Note 5 Share of earnings in associates
Group
SEK M 2006 2007
Låsgruppen Wilhelm Nielsen AS 3 3
Cerraduras de Colombia Cerracol S.A 5 6
Total 8 9
Note 6 Operational leasing agreements
Group Parent company
SEK M 2006 2007 2006 2007
Leasing fees paid during
the year: 230 273 9 11
Group Parent company
SEK M 2006 2007 2006 2007
Nominal value of agreed
future leasing fees:
Due for payment in
2008 (2007) 207 254 10 12
Due for payment in
2009 (2008) 167 199 10 12
Due for payment in
2010 (2009) 138 155 11 12
Due for payment in
2011 (2010) 100 113 11 12
Due for payment in
2012 (2011) 79 76 11 12
Due for payment in
2013 (2012) or later 153 145 11 12
Total 844 942 64 72
Note 7 Expenses by nature
In the income statement costs are broken down by function.
Cost of goods sold, Selling expenses, Administrative
expenses and Research & Development costs amount
to SEK 28,121 M (27,839). Below, these same costs are
broken down by nature:
Group
SEK M 2006 2007
Remuneration of employees (Note 9) 9,374 10,066
Direct material costs 9,561 10,721
Depreciation and write-downs
(Notes 8, 15, 16) 1,039 910
Restructuring costs excluding
write-downs 1,333 –
Other expenses 6,532 6,424
Total 27,839 28,121
Note 8 Depreciation and amortization
Group
Parent
company
SEK M 2006 2007 2006 2007
Intangible rights 61 107 31 210
Machinery 459 436 – –
Equipment 246 239 2 2
Buildings 129 126 – –
Land and land
improvements 3 1 – –
Total 898 909 33 212