IC Companys – Annual Report 2008/09 0 - IC Companys A/S

The following maturity/reassessment profiles apply to the Group’s financial assets and liabilities:
Reassessment/maturity profile
As at 30 June 2009 (DKK million): 0-1 years 1-5 years > 5 years Fixed interest
Effective rate
of interest
Non-current loans to customers 0.5 9.4 - No 5.79 %
Trade receivables 257.6 - - No 0.00 %
Trade payables 291.7 - - No 0.00 %
Financial institutions, current 447.3 - - No 2.54 %
Financial institutions, non-current - - 168.0 No 5.51 %
Reassessment/maturity profile
As at 30 June 2008 (DKK million): 0-1 years 1-5 years > 5 years Fixed interest
Effective rate
of interest
Non-current loans to customers - 1.1 - No 5.75 %
Trade receivables 296.7 - - No 0.00 %
Trade payables 313.8 - - No 0.00 %
Financial institutions, current 603.0 - - No 5.40 %
Financial institutions, non-current - - 168.0 No 5.30 %
Credit risk
The Group solely uses internationally recognised banks with a high credit rating. The credit risk on forward contracts
and bank deposits is consequently deemed to be low.
In respect of trade receivables, the Group typically uses credit insurance in countries in which the credit risk is
deemed to be high and where credit insurance is feasible. This primarily applies to export markets in which IC
Companys is not represented through an independent sales company.
Beyond this the credit risk regarding trade receivables and other receivables is limited as the Group has no material
concentration of credit risk as the exposure is spread on a large amount of counterparties and customers in
many different markets
31. Related party transactions
IC Companys A/S' related parties include subsidiaries as set out at the back of the Annual Report, their Board of
Directors, Executive Board and other executives as well as their related family members. Related parties also
comprise companies in which the individuals mentioned above have material interests. IC Companys A/S has no
related parties with controlling influence on the Company.
IC Companys A/S conducts substantial trading with all its subsidiaries. Trading is conducted on an arm’s length
basis.
Information on trading with subsidiaries is provided below:
Group Parent Company
DKK million 30.06.2009 30.06.2008 30.06.2009 30.06.2008
Purchase of finished goods and consumables from
Group enterprises - - 1,082.4 922.9
Sale of finished goods and consumables to
Group enterprises - - 1,583.6 1,761.4
Sale of non-current assets to Group enterprises - - 2.1 -
Sale of services to Group enterprises - - 69.0 73.8
Transactions with subsidiaries have been eliminated in the consolidated financial statements in accordance with
the accounting policies.
The remuneration paid to the members of the Board of Directors, Executive Board and other executives as well as
share-based compensation plans are disclosed in note 5 to the financial statements.
Interest on accounts with related parties is stated in note 8 to the Parent Company financial statements.
The Parent Company’s accounts with the subsidiaries comprise ordinary trade balances concluded on trading
terms equivalent to those applied for the Group’s and the Parent Company’s other customers and suppliers.
Moreover, the Parent Company has granted loans to subsidiaries with a total balance as at 30 June 2009 of DKK
759.6 million (30 June 2008: DKK 862.3 million). The loans carry interest on normal market terms. DKK 6.5 million
becomes due for payment in 2009 and the remaining DKK 753.1 million is a bullet loan for DKK 30.4 million,
for which no due date has been set and a bullet loan that becomes due for payment in 2011 for DKK 722.6 mil-
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