Balance sheet
Balance sheet
Equity and liabilities
Assets
(SEK million)
31 Dec 2017 31 Dec 2016
EQUITY Restricted equity
NON-CURRENT ASSETS Financial assets Shares in subsidiaries Participations in associates and joint ventures Receivables from Group companies Securities held as non-current assets Deferred tax assets Other long-term receivables
(SEK million)
Note 22
12,643
11,736
Note 23
7
7
Note 15 Note 24
TOTAL NON-CURRENT ASSETS
105
–
6
6
2 18
2 21
12,781
11,772
Tax assets Other receivables Prepaid expenses and accrued income Total current receivables Cash and equivalents TOTAL CURRENT ASSETS TOTAL ASSETS
31 Dec 2016
79 75
79 75
Note 25
Share capital Statutory reserve Total restricted equity
154
154
Non-restricted equity Share premium reserve Profit brought forward Total non-restricted equity
4,751 2,747 7,498
4,751 2,798 7,549
TOTAL EQUITY
7,652
7,703
–
1
Note 26
9
7
Note 27
61
208
Note 28
– 5,016
2,332 1,922
Note 29
149
40
5,235
4,509
Note 32
6 1 – 184
5 158 2 1
Note 33
26
13
217
179
13,104
12,392
UNTAXED RESERVES Tax allocation reserve NON-CURRENT LIABILITIES AND PROVISIONS
CURRENT ASSETS Current receivables Receivables from Group companies
31 Dec 2017
285
581
12 15
– 34
11
5
323
620
–
–
323
620
13,104
12,392
Comments on Parent Operations Parent activities comprise Group executive management functions and certain shared Group functions.
Operating profit The parent’s sales refer in their entirety to sales to Group companies, and amounted to SEK 9 million (SEK 7 million) for the year. Administrative expenses consist primarily of personnel costs and purchased services such as auditing and expenses linked to the stock exchange listing.
Provisions for pensions Other provisions, non-interest-bearing Liabilities to Group companies Bond loans Other liabilities, non-interestbearing TOTAL NON-CURRENT LIABILITIES AND PROVISIONS CURRENT LIABILITIES AND PROVISIONS Accounts payable Liabilities to Group companies Current tax liability Other liabilities Accrued expenses and deferred income TOTAL CURRENT LIABILITIES AND PROVISIONS TOTAL EQUITY AND LIABILITIES
Net financial items The parent’s expenditure on operating expenses, interest, amortisation and dividends to shareholders is financed primarily through dividends and Group contributions from subsidiaries.
Balance sheet The parent’s total assets increased from SEK 12,392 million to SEK 13,104 million during the year. The increase is mostly due to investments in acquisition of operations during the year. Additional bond loans of SEK 3,600 million were raised during the year. The parent’s non-current interest-bearing liabilities now consist entirely of bond loans. Interestbearing liabilities at year-end amounted to SEK 5,016 million (SEK 4,254 million), and the average interest rate on these liabilities amounted to 1.1% during the year. At year-end, the parent’s interest-bearing liabilities were entirely in the Swedish krona, as set out in Note 7.
NIBE INDUSTRIER AB · ANNUAL REPORT · 2017
77