AI Annual Report 2019 1
December 31, 2018 Assets Valued at fair value Lon
g-term securities Receivables from Group companies Accounts receivables and other receivables Cash and cash equivalents Total assets December 31, 2018 Liabilities in the balance sheet Loans Loans from Group companies Accounts payable Liabilities to Group companies Accrued expenses Total Liabilities 7,504 7,504 25,511 716,803 99,724 842,038 Measured at amortized cost 3,809,858 350,000 1,258,126 59,506 14,944 5,492,434 Measured at amortized cost Total 7,504 25,511 716,803 99,724 849,542 Total 3,809,858 350,000 1,258,126 59,506 14,944 5,492,434 The fair value of the liabilities corresponds to the carrying value, as the discount effect is insignificant. All liabilities are at a variable interest rate. NOT 29 RELATED TRANSACTIONS NOTE 30 EVENTS AFTER THE END OF THE FINANCIAL YEAR The Group purchase and sell to companies in the Anders Hedin Invest AB Group. Tires and rims are purchased from KW Wheels AB, Dawa Däck AB and Pro-imp AB at a value of kSEK 143,338 (kSEK 135,430). Spare parts and cars of kSEK 21,103 (kSEK 108,482) are purchased from Klintberg & Way Parts AB. From Klintberg & Way Cars AB and Klintberg & Way Automotive AB cars are purchased at a value of kSEK 100,856 (kSEK 433,875). Cars of kSEK 283,264 (kSEK 283,388) are sold to Mabi Sverige AB and rental services of kSEK 25,865 (kSEK 17,118) are purchased. The Group also purchase construction services from the Tuve Bygg Group with a total of kSEK 26,615. The parent company, Anders Hedin Invest AB, provides internal services such as controlling and management, finance, procurement, IT etc. During the year 2019, Anders Hedin Invest AB has sold services to the Group at a total of kSEK 20,295 (kSEK 10,440). Of the Group’s total purchases and sales measured in kSEK, 2% (4%) of the purchases and 1% (< 1%) of the sales are attributable to sales companies in the Anders Hedin Invest AB Group. The total receivables from Group companies and liabilities to Group companies are reported in the consolidated balance sheet. The parent company Anders Hedin Invest AB has submitted a loan of kSEK 350,000. The loan runs without interest and is subordinated to other liabilities. The loan will be repaid at 12/31/2022. The company has an obligation to pay leasing fees for a lease agreement entered into by Anders Hedin Invest AB, provided Anders Hedin Invest AB does not fulfil its obligations. The lease payments amount to MSEK 88 on a straight-line basis over four and a half years. In 2016, the affiliate company I.A. Hedin Fastighet AB with associated subsidiaries was divested to Fastighets AB Balder. The properties are rented by I.A. Hedin Bil Group for a period of 12 years. Erik Selin has been a board member of I.A. Hedin Bil AB since March 2017. The transaction was not classified as related transactions at the time of sale. I.A. HEDIN BIL AB / ANNUAL REPORT / 2019 71 On January 30, Anders Hedin Invest AB and Stern Groep NV. the Dutch listed automotive group, announced that they are in exclusive negotiations on a merger between their respective automotive operations, including I.A. Hedin Bil AB. Due to Covid-19, it was decided in March 2020 to postpone further discussions until the car industry returns to normal. On April 1, sales of used cars were launched under the trademark Car Store, in a separate company - Car Store Sweden AB. The first sale facility is located in Täby. Regarding the Group's impact in connection with the outbreak of Covid-19, we refer to the section “Expected future development” in the Board of Directors' report.