THE PARENT
COMPANY
FINANCIAL INFORMATION
NOTE 1 ACCOUNTING PRINCIPLES FOR THE PARENT COMPANY
The Swedish Financial Reporting Board’s Recommendation 2 – Accounting for Legal Entities and the Swedish Annual Accounts
Act have been applied when preparing the parent company’s annual accounts. In accordance with this recommendation, the parent
company shall prepare its reports in accordance with the IASB’s International Financial Reporting Standards (IFRS) adopted by the
EU, to the extent that these are not contrary to the Swedish Annual Accounts Act. The accountancy principles have been applied consis-
tently for all periods, unless otherwise stated.
In Sweden, group contributions are deductable, unlike the shareholder contribution. Group contributions are reported so that they
mainly reflect the transaction’s financial consequence. Group contributions, which have the same aim as the shareholder contribution,
are activated as an investment in subsidiaries in the balance sheet with a reservation for impairment testing. The Company has chosen
to use the exclusion rule which means that given shareholders contribution are reported as financial expenses. Group contributions
received which are comparable with a dividend are reported as a dividend, net income from shares in Group companies. This means
that Group contributions received and their associated tax effect are recognized in the income statement.
The deferred tax liability on untaxed reserves is reported under untaxed reserves in the parent company’s annual accounts due to the
connection between accounting and taxation.
NOTE 2 RELATED PARTIES
NET SALES
Of the parent company's invoiced sales, SEK 69.3 million (SEK 100.4
million) equivalent to 99.3% (99.9%) were sales to Group companies. All
transactions have occured in accordance with market conditions.
TRANSACTIONS WITH RELATED PERSONS
Göran Härstedt has carried out consulting services amounting to MSEK
0.6 (0.0), which has been debited through his owned company. All trans-
actions have taken place at market terms.
NOTE 3 OTHER INCOME
SEK million
Foreign exchange gains
Other contributions and payments
Total
2017
20.9
1.5
22.4
2016
22.1
0.0
22.1
NOTE 4
AVERAGE NUMBER OF EMPLOYEES
Gothenburg
Total
2017
Number of
employees
35
35
Of which
men
23
23
2016
Number of
employees
26
26
Of which
men
16
16
NWG 2017 | 97