I.A. Årsredovisning 2020 ENG 1
NOTE 25 CONTINGENT LIABILITIES Guarantee commitme
nts FPG/PRI Repurchase guarantees Other guarantees NOTE 26 SPECIFICATIONS TO CASH FLOW STATEMENT Depreciation Provisions/receivables relating to pensions Unrealized exchange rate differences Gains/losses on sale of fixed assets Other non-cash items 12/31/2020 1,189,031 -4,166 0 4,699 2,400 1,191,964 Financial liabilities Opening carrying amount Cash flow Business acquisitions Leasing liability Conversion differences 12/31/2020 9,558,832 -1,045,156 10,742 539,181 -323,350 8,740,249 1/1/2020Interest payments Paid interests Received interests NOTE 27 BUSINESS ACQUISITIONS Acquisitions in 2020 On May 8, the minority share of 33 percent in Conlogo AS was acquired and the Group now owns 100 percent in the company. The purchase price was kSEK 2,235. The minority share of the equity was kSEK 1,037 and the residual of kSEK 1,198 is reported in equity. On November 13, 60 percent of Koed A/S was acquired by Hedin Automotive AS. The company is a Danish wholesaler of spare parts for BMW. The purchase price was kSEK 16,225 including goodwill of kSEK 5,027 that is attributable to synergies with our Norwegian company GS Bildeler AS. Acquisitions in 2019 On the 12th of February Bavaria Haugesund AS acquired 51 percent of the shares at the price of NOK 1, in MPS Micro-paint Haugesund AS. The company is a service and repair shop for vehicles. On the 18th of February Hedin Automotive Belgium AB acquired a body and paint shop next to our dealership in Lier, Belgium. The company, Star repair bvba, has four employees. The purchase price was kSEK 4,058, including goodwill of kSEK 1,696 that is attributable to synergies with our present business around Antwerp. GS Bildeler AS acquired 91 percent of the shares in EBC Brakes Norge AS on 26th of February. 70 I.A. HEDIN BIL AB / ANNUAL REPORT / 2020 12/31/2020 -219,801 3,330 12/31/2019 1,196,118 2,893 1,895 -2,069 2,400 1,201,237 12/31/2019 4,172,402 22,641 302,259 5,003,806 57,724 9,558,832 1/1/201912/31/2019 -218,551 1,584 The purchase price was kSEK 2,150 in a new share issue. EBS Brakes is a wholesaler of automotive brakes and vehicle care products. On the 14th of August, Bavaria Norge AS acquired three BMW dealerships in Ålesund, Molde and Kristiansund. This was achieved through the acquisition of two companies, of which Molde was acquired at 83 percent. The purchase price amounted to kSEK 86,395. This includes acquired customer relations of kSEK 22,651, reported as intangible fixed assets. The amortization period is 7 years. Goodwill amounting to kSEK 48,733 is attributable to synergies with the present operations in Norway. On the 21st of August, Hedin Automotive Belgium AB took over two full-service facilities for Mercedes-Benz located between Ghent and Antwerp. The purchase price was kSEK 265,383. This includes acquired customer relations of kSEK 98,894, reported as intangible fixed assets. The amortization period is 7 years. Goodwill amounting to kSEK 177,003 is attributable to synergies with the present operations in Ghent and Antwerp. On the 22nd of August, one dealership was acquired in Belgium with access on September 16. It is a full-service dealership for Mercedes-Benz located between Antwerp and Brussels. The purchase price was kSEK 67,043. This includes acquired customer relations of kSEK 19,005, reported as intangible fixed assets. The amortization period is 7 years. Goodwill amounting to kSEK 20,941 is attributable to synergies with the present operations in Belgium. 12/31/2020 1,260 45,897 9,075 56,232 12/31/2019 1,320 76,124 8,339 85,783