ANNUAL REPORT Notes
NOTE 23 CASH AND CASH EQUIVALENTS IN GROUP ACCOUNT
Parent Company
31 / 12 / 2015 31 / 12 / 2014 Cash and cash equivalents in Group account 80,338 11,225
Cash and cash equivalents on the Group account consist of cash and cash equivalents invested through the Parent Company in a bank account for a joint-Group joint central account system . The funds are available on demand .
Current receivables in Group companies include SEK 31,821 thousand ( 45,425 thousand ) attributable to the Group account , of which SEK 9,269 thousand ( 3,195 thousand ) has been offset against the Parent Company ’ s liabilities to the same Group companies . Current liabilities to Group companies include SEK 335,093 thousand ( 259,110 thousand ) attributable to the Group account , of which SEK 51,101 thousand ( 21,395 thousand ) has been offset against the Parent Company ’ s receivables from the same Group companies .
NOTE 24 SHAREHOLDERS ’ EQUITY
A specification of changes in shareholders ’ equity is provided in the consolidated and Parent Company statements of changes in shareholders ’ equity ( see pages 41 and 45 ). Changes in the number of registered shares are stated in the following table :
A shares B shares C shares
Total no . of shares
Number on 31 / 12 / 2013 |
1,053,247 |
28,361,046 |
674,224 |
30,088,517 |
Conversion of C shares to B shares |
— |
674,224 |
– 674,224 |
0 |
Number on 31 / 12 / 2014 |
1,053,247 |
29,035,270 |
0 |
30,088,517 |
New issue in connection with company acquisition |
— |
338,739 |
— |
338,739 |
Number on |
|
|
|
|
31 / 12 / 2015 |
1,053,247 |
29,374,009 |
0 |
30,427,256 |
The share quota value is SEK 12 . Class A shares each carry ten votes , and Class B and C shares each carry one vote . Class C shares carry entitlement to dividends . All shares have been fully paid for .
DISCLOSURES ABOUT CAPITAL Total capital is calculated as shareholders ’ equity on the consolidated balance sheet . The Group ’ s equity / assets ratio , defined as total shareholders ’ equity in relation to the balance sheet total , was 48 per cent ( 56 ) on 31 December 2015 . The Group ’ s dividend policy is described on page 26 .
ACQUISITIONS , TRANSFERS AND HOLDINGS OF TREASURY SHARES Addnode Group ’ s holdings of treasury shares totalled 674,224 Class C shares at 31 December 2013 . The purpose of this holding was to secure future delivery of Class B shares to employees who participated in Addnode Group ’ s share-savings programme ( see description in Note 4 ). During the third quarter of 2014 , all Class C shares were converted to Class B shares , after which 194,340 Class B shares were transferred to the participants of the share-savings programme . On 31 December 2014 Addnode Group ’ s holdings of treasury shares totalled 479,884 Class B shares . Pursuant to a resolution by the Annual General Meeting on 7 May 2014 , the remaining holding of Class B shares may be used to be transferred to a third party listed or unlisted on Nasdaq Stockholm in accordance with the authorisation for the Board of Directors to make decisions about acquisitions and transfers of treasury shares ( see the description in the Board of Directors ’ report ). The purpose of the remaining holding of treasury shares is to enable Addnode Group to transfer shares in connection with the financing of company acquisitions and other types of strategic investments . During the first quarter of 2015 , 2,387 Class B shares were transferred to the participants in Addnode Group ’ s share-savings programme , which expired in August 2014 , after which all obligations under this programme have been settled . In July 2015 , 338,739 new Class B shares were issued , and 477,497 Class B shares were transferred as partial payment for the acquisition of Transcat GmbH . As at 31 December 2015 , Addnode Group had no holdings of treasury shares . The number of shares outstanding was 29,608,633 on 31 December 2014 and 30,427,256 on 31 December 2015 .
TRANSACTIONS WITH NON-CONTROLLING INTERESTS The carrying amount for the non-controlling interests pertains to the subsidiary Kartena AB . In 2015 the Parent Company acquired an additional 38,264 shares , and its share of ownership was 99.97 per cent on 31 December 2015 .
Exchange rate differences in shareholders ’ equity
Group 31 / 12 / 2015 31 / 12 / 2014
NOTE 25 INTEREST-BEARING LIABILITIES
Opening balance |
– 17,153 |
– 22,313 |
Change in the year ’ s translation of foreign subsidiaries |
– 27,859 |
5,160 |
Closing balance |
– 45,012 |
– 17,153 |
NON-CURRENT INTEREST-BEARING LIABILITIES
Group 31 / 12 / 2015 31 / 12 / 2014
Hedge of net investments in foreign operations recognised in shareholders ’ equity
Group 31 / 12 / 2015 31 / 12 / 2014
Opening balance |
0 |
1,015 |
Remeasurement at fair value |
811 |
– 1,015 |
Closing balance |
811 |
0 |
Due to credit institutions |
6,888 |
15,501 |
Other non-current interest-bearing liabilities |
5,023 |
— |
Total non-current interest-bearing liabilities |
11,911 |
15,501 |
CURRENT INTEREST-BEARING LIABILITIES Due to credit institutions |
109,669 |
20,666 |
Cash flow hedges recognised in shareholders ’ equity
Group 31 / 12 / 2015 31 / 12 / 2014
Other current interest-bearing liabilities |
5,024 |
4,250 |
Total current interest-bearing liabilities |
114,693 |
24,916 |
Opening balance |
0 |
30 |
Remeasurement transferred to income statement |
— |
– 30 |
Closing balance |
0 |
0 |
Reporting of cash flow hedges is described also in Note 7 .
Total interest-bearing liabilities 126,604 40,417
DUE TO CREDIT INSTITUTIONS In January 2015 the Parent Company signed an agreement with Nordea for a credit facility of up to SEK 200 m to finance future
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