Interim Report Q4 2019 1
INTERIM REPORT 2019 | I.A. HEDIN BIL AB | OCTOBER
1ST - DECEMBER 31ST 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 than 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 period are presented below. Consolidated Income statement Amounts in kSEK December 2019 YTD Net Sales Other operating income Operating income Goods for resale Other external expenses Employee benefit expenses Depreciation and amortization of tangible and intangible fixed assets Operating profit/loss Financial income and expenses Profit/loss before tax Taxes Net profit/loss for the period Consolidated Balance sheet Amounts in kSEK 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 excl IFRS 16 22,301,382 25,847 22,327,229 -17,719,997 -1,596,702 -2,022,859 -663,961 323,710 -144,577 179,133 -51,300 127,833 12/31/2019 excl IFRS 16 1,877,075 2,750,251 64,095 4,691,421 4,812,154 9,503,575 955,466 1,678,055 1,866,149 1,430,739 3,583,346 9,513,755 0 568,654 -532,157 36,497 -67,676 -31,179 6,654 -24,525 Adjustment s IFRS16 4,812,725 6,654 4,819,379 4,819,379 -24,438 4,332,659 500,978 4,809,199 Adjustment s IFRS16 December 2019 YTD incl IFRS 16 22,301,382 25,847 22,327,229 -17,719,997 -1,028,048 -2,022,859 -1,196,118 360,207 -212,253 147,954 -44,646 103,308 12/31/2019 incl IFRS 16 1,877,075 7,562,976 70,749 9,510,800 4,812,154 14,322,954 931,028 6,010,714 1,866,149 1,931,717 3,583,346 14,322,954 14