I.A. Hedin Bil AB - Interim Report Q1 2019 1
INTERIM REPORT 2019 | I.A. HEDIN BIL AB | 1 JANUA
RY - 31 MARCH Note 1 Reporting standards The Interim report for the group has been prepared according to IAS 34 Interim Financial Reporting. The same accounting policies and calculation methods have been applied as in the most recent annual report, apart from policies below. New accounting policies from January 1st 2019 At January 1, 2019, IFRS 16 Leases replaced the present policies in IAS 17. The standard describes how the assets and liabilities due to the leasing agreement should be accounted in the balance sheet of the lessee. The same policies should be applied on operational leases and financial leases. All leasing agreements with maturity later thun 12 months should be reported in the balance sheet and the lease payments should be reported as depreciation apart from the interest cost. The debt corresponds to the discounted present value of the future lease payments. I.A. Hedin Bil has chosen the modified retroactive method and 2018 will not be recalculated. The simplification approach that the right-of-use asset (before adjustments for any advance payments) should correspond to the lease liability has been applied in the transition, and the simplification rule for definition of a lease has been applied, which means that all components in a lease have been regarded as a lease component. The exceptions for not reporting short-term leases and assets of low value have also been applied. The opening balance of the leasing liability and the right-of-use asset amounted to MSEK 4,496 for the existing leasing agreements. The largest part of the leasing agreements relates to properties, which refers to the facilities where Hedin Bil conducts its business. Effects on the figures in the first quarter are presented below. Amounts in kSEK First quarter excl IFRS 16 Operating income Goods for resale Other external expenses Employee benefit expenses Depreciation and amortization of tangible and intangible fixed assets Operating profit Financial income and expenses Profit before tax Taxes Net profit for the period 5 332 657 -4 275 224 -369 275 -469 264 -150 550 68 344 -38 063 30 281 -7 333 22 948 Adjustment s IFRS16 0 136 979 First quarter incl IFRS 16 5 332 657 -4 275 224 -232 296 -469 264 -128 351 8 628 -16 652 -8 024 1 721 -6 303 -278 901 76 972 -54 715 22 257 -5 612 16 645 Amounts in kSEK First quarter excl IFRS 16 ASSETS Intangible assets Tangible assets Financial assets Total fixed assets Total current assets TOTAL ASSETS Equity Interest-bearing, non-current liabilities Other non-current liabilities Interest-bearing, current liabilities Other current liabilities TOTAL EQUITY AND LIABILITIES 14 1 560 800 2 136 077 61 542 3 758 419 4 017 934 7 776 353 877 395 1 502 430 1 482 362 1 402 156 2 512 010 7 776 353 Adjustment s IFRS16 First quarter incl IFRS 16 4 411 490 1 721 4 413 211 4 413 211 -6 320 3 938 224 481 307 4 413 211 1 560 800 6 547 567 63 263 8 171 630 4 017 934 12 189 564 871 075 5 440 654 1 482 362 1 883 463 2 512 010 12 189 564