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

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lion. The Parent Company’s net receivables from subsidiaries include a provision of DKK 92.0 million (30 June 2008: DKK 80.0 million) to meet likely future losses in subsidiaries with negative equity values. The Parent Company has issued letters of comfort for certain subsidiaries. The Parent Company has received dividends of DKK 53.9 million (2007/08: DKK 50.3 million) from subsidiaries. The Group has a property lease with I/S Hakkesstraat 35-37, Venlo, the Netherlands. This partnership is owned 95% by the Chairman of the Board of Directors: Niels Martinsen (who owns 42.4% of IC Companys A/S via Friheden Invest A/S). The property functions as a distribution centre. The lease has been entered into on arm’s length terms based on an impartial assessment of the rent by a licensed estate agent in the Netherlands. The lease cannot be terminated by any of the parties until 1 April 2010. The rent paid by the Group in respect of the lease was DKK 2.5 million in 2008/09 (2007/08: DKK 2.4 million). The Company has had other transactions during the year with Niels Martinsen and companies controlled by Niels Martinsen. The transactions were all made on arm’s length terms and did not exceed DKK 1 million for the financial year. With the exception of intra-group transactions, which have been eliminated in the consolidated financial statements, and usual management remuneration, the Group has not made transactions in this or any previous years with the Board of Directors, Executive Board, executives, major shareholders or other related parties. IC Companys – Årsrapport 2008/09 73
FINANCIAL STATEMENT Parent Company IC Companys – Årsrapport 2008/09 Income statement 75 Balance sheet 76 Movements in Equity 77 Parent Companys cash flow statement 78 Notes 79 74
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IC Companys - Annual Report 2008/09
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IC COMPANYS 2008/09 The financial y
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Group financial highlights and key
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From foundation to distribution As
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BRANDS IC Companys operates a portf
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9 FACTS-BASED PRODUCT DEVELOPMENT -
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HISTORY Jackpot began in the early
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TRULY GOOD NEWS To mark our excitin
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By Malene Birger was created in 200
Page 22 and 23:
History Matinique was founded in 19
Page 24 and 25: Soaked in Luxury is one of the youn
Page 26 and 27: THE SHARED PLATFORM The Group’s s
Page 28 and 29: Incentive-based compensation With t
Page 30 and 31: taking risks, but longevity in term
Page 32 and 33: Communication on progress 2008/09 T
Page 34 and 35: Group capital structure and dividen
Page 36 and 37: Stock Exchange Announcements 2008/0
Page 38 and 39: The development in Norway was gener
Page 40 and 41: Over a number of years, the Group
Page 42 and 43: Post balance sheet events After the
Page 44 and 45: Income statement Note DKK million 2
Page 46 and 47: Movements in equity DKK millions Sh
Page 48 and 49: Notes to the financial statements 1
Page 50 and 51: Share-based incentive plans Share-b
Page 52 and 53: Software and IT development is amor
Page 54 and 55: Cash flow statement The cash flow s
Page 56 and 57: 5. Staff costs DKK million 2008/09
Page 58 and 59: The stock options were issued at an
Page 60 and 61: The expected volatility is based on
Page 62 and 63: 12. The Group’s intangible assets
Page 64 and 65: foreseeable future. The unrecognise
Page 66 and 67: Number Nominal value (kDKK) Share c
Page 68 and 69: 22. Non-current debt to financial i
Page 70 and 71: time limit in pursuance thereof. Th
Page 72 and 73: Neither the Group nor the Parent Co
Page 76 and 77: Profit Parent Company Note DKK mill
Page 78 and 79: Movements in equity, Parent Company
Page 80 and 81: Notes to the financial statements 1
Page 82 and 83: 8. Financial income and expenses Pa
Page 84 and 85: 13. Other non-current assets DKK mi
Page 86 and 87: Movements in allowance for bad debt
Page 88 and 89: the property Raffinaderivej 10. Rec
Page 90 and 91: Definition of key ratios EBITDA - m
Page 92 and 93: The Independent auditors’ report
Page 94 and 95: Executive Board Niels Mikkelsen Chr
Page 96: IC Companys - Årsrapport 2008/09 9
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IC Companys â Annual Report 2008/09 0 - IC Companys A/S