New Wave Group AB Annual_report_2018_EN_HQ | Page 78

NWG // FINANCIAL INFORMATION //
THE GROUP
Deferred taxes
Deferred taxes are recognised for temporary diffe-
rences arising between the carrying amounts and
tax bases of assets and liabilities as well as for
unused loss carry-forwards. Deferred tax assets
are recognised only if it is likely that these can be
used to offset future profits. In the event that actual
outcome differs from the estimates made or if mana-
gement adjusts these estimates in future, the value
of deferred tax assets could change. See Note 15 for
detailed information.
Provisions for expected credit losses on
accounts receivable
Accounts receivable are initially carried at fair value
and subsequently at the value at which they are
expected to be realised. New Wave Group applies
the simplified model for expected credit losses on
accounts receivable, at which total expected credit
losses for the remaining maturity of the receivable are
recognised. When assessing future expected credit
losses, both historical and forward-looking infor-
mation is taken into account. Change of provision
for expected credit losses on accounts receivable is
recognised in the income statement under external
costs. See Note 17 for detailed information.
SEK million
Corporate
Sports & Leisure
Gifts & Home Furnishings
Total
Net sales
New Wave Group AB's operating segments
constitute Corporate, Sports & Leisure and Gifts
& Home Furnishings. The relevant brands are
allocated to the operating segment to which they are
considered to belong. The Group monitors net
sales and EBITDA for each segment. The operating
segments are based on the Group's operational
management and this is exclusively based on IFRS,
which means that no adjustments need to be made
in relation to the consolidated financial statements.
Central costs have been distributed to the relevant
segment based on use.
The Group has a large number of customers of
which no one exceeds 10 percent of the Group's net
sales.
EBITDA
2018 2017 2018
3 069.0 2 648.7 2 573.7 2 311.5
Assets
2017 2018
2017
353.1 289.7 3 564.8 3 074.0
218.2 230.3 2 757.3 2 272.0
Deferred
tax assets
Fixed assets *
2018
2017 2018
2017
682.9 585.0 38.4 35.2
1 087.5 1 020.0 50.1 44.4
647.8 637.1 -10.6 14.4 739.3 607.1 286.4 204.4 22.5 11.9
6 290.6 5 597.3 560.7 534.4 7 061.4 5 953.1 2 056.8 1 809.5 111.1 91.5
560.7 534.4 -77.9 -65.3
Total EBITDA
Depreciation
Net financial items
Result before tax
* Financial fixed assets are not included.
078 // ANNUAL REPORT
Note 3 - Operating
segment reporting
-40.9 -51.9
441.8 417.2