Annual Report 2006 ISS Global A/S
Annual Report 2006 ISS Global A/S
Annual Report 2006 ISS Global A/S
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NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS<br />
1 January – 31 December. Amounts in DKK millions<br />
17. Associates <strong>2006</strong><br />
Investments in associates<br />
Cost at 1 January 117 157<br />
(3) 7<br />
Additions 11 6<br />
Additions from acquired companies, net -<br />
(7)<br />
Disposals 1) Foreign exchange adjustments<br />
(69) (46)<br />
Cost at 31 December 56 117<br />
Revaluation at 1 January 15 23<br />
Foreign exchange adjustments (1) 1<br />
Net result for the year (17) 15<br />
Dividends received (1) (1)<br />
Disposals 1) 14 (23)<br />
Revaluation at 31 December 10 15<br />
Carrying amount at 31 December 66 132<br />
Receivable from associate -<br />
<strong>2006</strong> Country Revenue<br />
Operating<br />
profit<br />
Net<br />
result Assets Liabilities<br />
Ownership<br />
% Equity<br />
Pacific Service Solutions Pty Ltd. 2)<br />
Australia 437 (22) (54) - - 49 -<br />
Aircon AS Norway 131 15 12 46 16 40 12<br />
<strong>ISS</strong> Industriservice AB 3)<br />
Sweden 169 11 7 109 81 49 14<br />
Other associates 217 4 4 73 54<br />
8<br />
954 8 (31) 228 151<br />
34<br />
Goodwill at 31 December <strong>2006</strong> 32<br />
Total carrying amount at 31 December <strong>2006</strong> 66<br />
2005 Country Revenue<br />
Pacific Service Solutions Pty Ltd. 2)<br />
Australia 2,446<br />
CarePartner Sverige AB 4)<br />
Sweden 61<br />
Grødegaard AS 5)<br />
Norway 114<br />
Aircon AS Norway 157<br />
Other associates 164<br />
Operating<br />
profit<br />
116<br />
4<br />
(1)<br />
15<br />
5<br />
Net<br />
result Assets Liabilities<br />
22<br />
3<br />
(4)<br />
9<br />
3<br />
1,598<br />
-<br />
-<br />
49<br />
67<br />
1,435<br />
-<br />
-<br />
29<br />
42<br />
<strong>ISS</strong> <strong>Global</strong>'s share<br />
<strong>ISS</strong> <strong>Global</strong>'s share<br />
Ownership<br />
% Equity<br />
2,942 139 33 1,714 1,506<br />
98<br />
Goodwill at 31 December 2005 34<br />
Total carrying amount at 31 December 2005 132<br />
1) Including transfers related to associates now fully owned.<br />
2) The remaining 51% shareholding in Pacific Service Solutions Pty Ltd. including Tempo Services Ltd. was acquired in February, <strong>2006</strong>. Operating profit in<br />
<strong>2006</strong> is negatively impacted by vesting of warrants amounting to DKK 32 million in connection with the acquisition of the remaining 51% shareholding.<br />
3) 51% of the 100% shareholding was sold 1 April <strong>2006</strong>.<br />
4) CarePartner Sverige AB was sold 1 February 2005.<br />
_____________________________________________________________________________________________________________<br />
ANNUAL REPORT <strong>2006</strong> / Consolidated Financial Statements<br />
78<br />
49<br />
49<br />
48<br />
40<br />
78<br />
-<br />
-<br />
7<br />
13<br />
2005<br />
179<br />
Net<br />
result<br />
(26)<br />
5<br />
3<br />
1<br />
(17)<br />
(17)<br />
Net<br />
result<br />
11<br />
1<br />
(2)<br />
4<br />
1<br />
15<br />
-<br />
15