Accounts by lanyuehua

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									Consolidated income statement
SEK Millions                                                               Note


Sales                                                                         1
Cost of goods sold                                                            2
Gross profit
Selling expenses                                                               2
Administrative expenses                                                        2
Other operating revenue                                                    1, 25
Other operating expenses                                                       2
Shares in earnings of affiliated companies and joint ventures after tax        3
Operating profit
Financial income                                                              4
Financial expenses                                                            4
Profit after financial items
Taxes                                                                         5
Profit for the year, continuing operations

Profit for the year, discontinued operations                                 25
Profit for the year
Of which attributable to:
- parent company's shareholders
- non-controlling interests
Earnings per share
                   2)                                                     12, 29
  of which for continuing operations2)
  of which for discontinued operations2)
Dividend per share – 2010 proposal
 2010      2009


39,883    29,838
    -36        -29
 3,945        818
-1,444     -1,668
-1,388     -1,384
    449        975
   -535       -340
     57          7
 1,084    -1,592
     30         50
   -432       -519
   682    -2,061
     82     1,182
   764       -879

  -164       -131
  600     -1,010

   552    -1,002
    48        -8
     2        -3
     2     -2.69
    -1     -0.40
  2.00      1.00
Consolidated statement of comprehensive income

SEK millions                                                                      2010
Profit for the year                                                                600

Other comprehensive income
Translation differences for the period                                            -1,762
Cash-flow hedges                                                                     181
Hedging of currency risks in foreign operations                                      599
Tax attributable to comprehensive income                                            -205
Share in other comprehensive income of affiliated companies and joint ventures         0
Other comprehensive income for the year, net after tax                           -1,187
Total comprehensive income for the year                                             -587

Of which attributable to:
- parent company's shareholders                                                    -632
- non-controlling interests                                                          45
  2009
-1,010



 -2,219
     -2
    475
   -125
     16
-1,855
 -2,865



-2,857
    -8
Consolidated balance sheet

SEK millions                                               Note     2010      2009

ASSETS
Fixed assets
Goodwill                                                      6   18,643    19,701
Other intangible assets                                       6    4,309     5,374
Tangible fixed assets                                         7   17,063    17,137
Participations in affiliated companies and joint venture   3, 8      395       348
Financial assets                                              8       77        55
Deferred tax receivables                                    14       159       164
Total fixed assets                                                    41        43

Current assets
Inventories                                                   9    11,389    8,221
Accounts receivable                                          27     5,057    4,435
Prepaid expenses and accrued revenue                         10       495      331
Current tax receivables                                               742      667
Other current interest-bearing receivables                   11       971        -
Other current receivables                                    27       439      334
Cash and cash equivalents                                    11     1,314    3,652
Total current assets                                              20,407    17,640
Total assets                                                           61       60

EQUITY AND LIABILITIES

Equity
Share capital                                                12     2,851     2,851
Other contributed funds                                             9,944     9,944
Reserves                                                           -2,047      -916
Retained earnings                                                  19,137    18,962
Total equity for shareholders in the Company                      29,885    30,841
Non-controlling interests                                            191       161
Total equity                                                      30,076    31,002

Long-term liabilities
Long-term interest-bearing liabilities                       16    16,786    14,878
Pension provisions                                           13       135       135
Deferred tax liabilities                                     14     4,952     5,283
Other long-term provisions                                   15       119       415
Total long-term liabilities                                       21,992    20,711

Current liabilities
Current interest-bearing liabilities                         16    2,977     3,998
Accounts payable                                             27    4,048     3,063
Accrued expenses and deferred revenue                        17    1,521     1,327
Current tax liabilities                                              200        96
Other current liabilities                                    27      186       179
Current provisions                                           15       53        43
Total current liabilities                                          8,985     8,706

Total equity and liabilities                                      61,053    60,419
Pledged assets           21    41   40
Contingent liabilities   22   124   88
Consolidated statement of changes in equity
                                                                                    Other
                                                                     Share    contributed
SEK millions                                                 Note   capital         funds   Reserves

Equity, January 1, 2009                                              2,851         9,944         939
Translation difference                                         12        -             -      -2,217
Effects of cash-flow hedge                                     12        -             -          -2
Tax attributable to cash-flow hedges                           12        -                         0

Effects of hedging of currency risks in foreign operations     12         -             -       475

Tax on hedging of currency risks in foreign opertions          12         -             -       -125
Share in other comprehensive income in affiliated
                                                                          -             -        14
companies and joint ventures
Profit for the year                                                     -              -
Total comprehensive income                                              -              -     -1,855
Dividend                                                                -              -          -
Equity, December 31, 2009                                           2,851          9,944       -916
Equity, January 1, 2010                                              2,851          9,944       -916
                                                        1)     12                                 53
Adjustment Translation differences previous periods
Adjusted Equity, January 1, 2010                               12    2,851          9,944       -863
Translation difference                                         12        -              -     -1,759
Effects of cash-flow hedge                                     12        -              -        181
Tax attributable to cash-flow hedges                           12        -              -        -48

Effects of hedging of currency risks in foreign operations     12         -             -       599

Tax on hedging of currency risks in foreign opertions          12         -             -       -157

Share in other comprehensive income in affiliated
                                                                          -             -         0
companies and joint ventures
Profit for the year                                                     -              -          -
Total comprehensive income                                              0              0     -1,184
Dividend                                                                -              -          -
Equity, December 31, 2010                                      12   2,851          9,944     -2,047
                         Non-
Retained           controlling
earnings   Total     interest Total equity


  21,260 34,994           199      35,193
       - -2,217            -2      -2,219
       -     -2             -          -2
       -      0             -           0

       -    475             -         475

       -   -125             -        -125

       -     14             2          16

  -1,002 -1,002            -8       -1,010
 -1,002 -2,857             -8      -2,865
  -1,296 -1,296           -30       -1,326
 18,962 30,841           161       31,002
  18,962 30,841           161      31,002
     -53
  18,909 30,841           161      31,002
       - -1,759            -3      -1,762
       -    181             -         181
       -    -48             -         -48

       -    599             -         599

       -   -157             -        -157

       -      0             -           0

     552    552            48          600
    552   -632             45        -587
    -324   -324           -15         -339
 19,137 29,885           191       30,076
Consolidated cash flow statement
SEK millions                                                  Note       2010      2009


BUSINESS OPERATIONS
Profit from operating activitIes
Operating profit                                                        1,084     -1,592
Reversal of non-cash items
- Non distributed shares in affiliated companies' earnings                 -54        31
- Depreciation of tangible fixed assets                          7      1,629     1,599
- Amortization of intangible assets                              6         822       907
- Profit upon sale of fixed assets                                         -18       118
- Profit upon sale of subsidiaries and affiliated companies                -28        -8
- Change in provisions                                                    -279      -423
- Other reversals                                                          267      -168
Interest received                                                            8        54
Interest paid                                                             -400      -565
Tax paid                                                                  -127      -943
                                                                        2,904      -990
Working capital
Inventories (+ decrease)                                               -3,363     4,532
Accounts receivable (+ decrease)                                       -1,095        984
Accounts payable (+ increase)                                           1,515       -268
Other current receivables (+ decrease)                                   -264        627
Other current liabilities (+ increase)                                    355       -740
                                                                       -2,852     5,135
Cash flow from operating activities                                        52     4,145

INVESTING ACTIVITIES
Investments in plants and machinery                           6, 7     -2,011    -1,912
Sale of plants and machinery                                               50       145
Acquisition of companies and shares                             24 -
Sold companies and operations                                   25        -559       31
Other long-term receivables (+ decrease)                                     7       65
Cash flow from investing activities                                    -2,513    -1,671

FINANCING ACTIVITIES
Dividend to shareholders                                                 -324     -1,296
New loans                                                               5,429      8,273
Repayment/amortization of loans                                        -4,001     -9,032
Financial investments                                                  -1,029        142
Other financing (+ increase)                                               48        456
Cash flow from financing activities                                      123     -1,457

CASH AND CASH EQUIVALENTS
Balance, January 1                                                      3,652     2,713
Cash flow from operating activities                                        52     4,145
Cash flow from investing activities                                    -2,513    -1,671
Cash flow from financing activities                                       123    -1,457
Translation differences, cash and cash equivalents                          0       -78
Balance, December 31                                            11     1,314     3,652

Contracted, non-utilized overdraft facilities                           12,205    15,198
Disposable cash and cash equivalents                                   13,519    18,850
Parent company's income statement
SEK millions                   Note   2010     2009

Gross profit
Administrative expenses           2     -202   -165
Other operating revenue           1   2,089     378
Other operating expenses          2     -164   -256
Operating profit                      1,723     -43

Dividend from subsidiaries        4       98    431
Financial items                   4     -233   -256
Profit after financial items          1,588    132

Appropriations                   23      -42     5
Tax before profit                     1,546    137

Tax                               5      99     11
Profit for the year                   1,645    148
Parent company's other comprehensive income
SEK millions                                             2010     2009
Profit for the year                                      1,645    148

Other comprehensive income
Hedging of currency risks in foreign operations             599    475
Tax attributable to comperehensive income                  -157   -125
Other comprehensive income for the year, net after tax     442    350
Total comprehensive income for the year                  2,087    498
Parent company's balance sheet
SEK millions                                              Note     2010      2009


ASSETS
Fixed assets
Tangible fixed assets                                        7         4         4
Financial assets                                             8    38,799    36,758
Long-term receivables from subsidiaries                               14        23
Deferred tax receivables                                    14         1         1
Total fixed assets                                               38,818    36,786

Current assets
Accounts receivable                                         27         -         -
Current receivables from subsidiaries                             12,602    10,027
Prepaid expenses and accrued revenue                        10        41        79
  Delivered, non-invoiced goods and services                           -         -
  Bonuses, discounts, licenses and similar                             -         -
  Prepaid rents                                                        3         2
  Prepaid insurance premiums                                           0         -
  Accrued interest income                                              8        12
  Currency derivatives reported in hedge accounting                    5        44
  Currency derivatives not reported in hedge accounting                0         4
  Reappraisal, hedged orders                                           -         -
  Freight support                                                      -         0
  Unsettled insurance indemnification                                  -         0
  Other prepaid expenses                                              25        17
Current tax receivables                                                0         1
Other current interest-bearing receivables                             -         -
Other current receivables                                              4         2
Cash and cash equivalents                                            843     2,184
Total current assets                                             13,490    12,293

Total assets                                                     52,308    49,079



EQUITY AND LIABILITIES
Equity
Restricted equity                                                  3,753     3,753
Unrestricted equity                                               27,234    25,528
Total equity                                                     30,987    29,281

Untaxed reserves                                           23       694       652

Provisions
Pension provisions                                          13        4         5
Other long-term provisions                                  15       67       355
Total provisions                                                     71       360

Long-term liabilities
Liabilities to subsidiaries                                            1         1
Other long-term interest-bearing liabilities                16    16,383    14,596
Total long-term liabilities                                      16,384    14,597

Current liabilities
Accounts payable                                                    27       10        9
Liabilities to subsidiaries                                               2,258    1,237
Current interest-bearing liabilities                                16    1,763    2,863
Accrued expenses and deferred revenue                               17       88       61
  Accrued personnel expenses                                                 16       17
  Non-invoiced goods and services received                                    -        -
  Accrued interest expenses                                                  52       42
  Accrued discounts, bonuses and complaints                                   -        -
  Reappraisal, hedged orders                                                  -        -
  Derivatives reported in hedge accounting                                   15        -
  Derivatives not reported in hedge accounting                                0        -
  Accrued expenses vis-à-vis affiliated companies                             -        -
  Energy taxes                                                                -        -
  Other items                                                                 5        2
Current tax liabilities                                                      37
Other current liabilities                                           27        6        4
Current provisions                                                  15       30       15
Total current liabilities                                                 4,172    4,189

Total equity and liabilities                                             52,308   49,079



Pledged assets                                                      21        -        -
Contingent liabilities                                              22      631      422
  Guarantees                                                                  0        0
  Contingent liabilities regarding subsidiaries’ obligations   1)           594      396
  Other contingent liabilities                                               37       26
Parent company's changes in equity
                                                                           Restricted equity

                                                                                           Statutory
SEK millions                                                Note       Share capital         reserve

Equity, January 1, 2009                                                       2,851             902
Effect of hedging of currency risks in foreign operations     12                  -               -
Tax on hedging of currency risks in foreign operations        12                  -               -
Profit for the year                                                               -               -
Total comprehensive income                                                        -               -
Retained earnings from previous year                                              -               -
Group contributions given                                                         -               -
Tax on Group contributions                                                        -               -
Dividend                                                      12                  -               -
Equity, December 31, 2009                                                     2,851             902

Equity, January 1, 2010                                                       2,851             902
Effect of hedging of currency risks in foreign operations     12                  -               -
Tax on hedging of currency risks in foreign operations        12                  -               -
Profit for the year                                                               -               -
Total comprehensive income                                         -                   -
Retained earnings from previous year                                               -               -
Group contributions given                                                          -               -
Tax on Group contributions                                                         -               -
Dividend                                                      12
Equity, December 31, 2010                                     12              2,851             902
 Unrestricted equity

Retained   Profit for the
earnings             year    Total


  19,706           6,944     30,403
     475               -        475
    -125               -       -125
       -             148          -
    350             148        498
   6,944          -6,944          -
    -441               -       -441
     117               -        117
  -1,296               -     -1,296
 25,380             148     29,281

  25,380             148     29,281
     599               -        599
    -157               -       -157
       -          1,645       1,645
    442           1,645      2,087
     148            -148          -
     -75               -        -75
      19               -         19
    -324               -       -324
 25,590           1,645     30,988
Parent company's cash flow statement
SEK millions                                                          Note     2010       2009


BUSINESS OPERATIONS
Profit from operating activities
Operating profit                                                              1,723         -43
Reversal of non-cash items
- Depreciation of tangible fixed assets                                  7          2         2
- Profit upon sale of subsidiaries and affiliated companies                   -2,010          -
- Change in provisions                                                           -273       128
- Other reversals                                                                 431       -14
Interest received                                                                 171       241
Interest paid                                                                    -386      -537
Tax paid                                                                            0      -547
                                                                                -342      -770
Working capital
Accounts receivable (+ decrease)                                                   0         11
Accounts payable (+ increase)                                                      1        -22
Other current receivables (+ decrease)                                            61       524
Other current liabilities (+ increase)                                             8        -45
Commercial intra-group transactions                                              -40        -11
                                                                                  30       457
Cash flow from operating activities                                            -312       -313

INVESTING ACTIVITIES
Investments in plants and machinery                                   6, 7        -2         0
Sold companies and operations                                          25     2,919
Cash flow from investing activities                                           2,917          0

FINANCING ACTIVITIES
Dividends to shareholders                                                       -324    -1,296
Group contributions                                                                -      -441
Dividends from subsidiaries                                                       98       431
Shareholder contributions to subsidiaries                                     -3,511         -
New loans                                                                      4,025     6,932
Repayments/amortization of loans                                              -2,863    -8,977
Financial intra-group transactions                                            -1,499     3,054
Financial investments                                                              -       142
Other financing (+ increase)                                                     128       433
Cash flow from financing activities                                          -3,946       278

CASH AND CASH EQUIVALENTS
Balance, January 1                                                            2,814      2,219
Cash flow from operating activities                                            -312        -313
Cash flow from investing activities                                           2,917           0
Cash flow from financing activities                                          -3,946         278
Balance, December 31                                                    11     843       2,184
Cash and bank balances                                                          443      1,104
Short-term investments (term to maturity of less than three months)             400      1,080

Contracted, non-utilized overdraft facilities                                 12,205     15,164
Disposable cash and cash equivalents                                         13,048     17,348

								
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