IA Hedin Bil - Interim Report Q2 2019 1
INTERIM REPORT 2019 | I.A. HEDIN BIL AB | APRIL 1
ST - JUNE 30TH 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 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 June 2019 YTD excl IFRS 16 11,128,862 -8,964,038 -775,394 -982,568 -301,944 104,918 -71,807 33,111 -7,115 25,996 0 278,626 -260,769 17,857 -34,352 -16,495 3,541 -12,954 Adjustment s IFRS16 June 2019 YTD incl IFRS 16 11,128,862 -8,964,038 -496,768 -982,568 -562,713 122,775 -106,159 16,616 -3,574 13,042 Consolidated Balance sheet Amounts in kSEK 06/30/2019 excl IFRS 16 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 1,570,441 2,217,281 54,855 3,842,577 3,597,950 7,440,527 898,955 1,493,219 1,537,402 1,331,781 2,179,170 7,440,527 Adjustment s IFRS16 06/30/2019 incl IFRS 16 4,481,934 3,541 4,485,475 4,485,475 -13,006 4,009,934 488,547 4,485,475 1,570,441 6,699,215 58,396 8,328,052 3,597,950 11,926,002 885,949 5,503,153 1,537,402 1,820,328 2,179,170 11,926,002 14