Saab 2011 Annual Report Download - page 110

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NOTE 21
SHARES IN ASSOCIATED COMPANIES CONSOLIDATED ACCORDING TO THE
EQUITY METHOD
Group
MSEK 2011 2010
Carrying amount, 1 January 251 356
Acquisition of associated companies 104 -
Sale of associated companies -4 -25
Share in associated companies’ income 1) -12 40
Hedge reserve - 2
Reclassifications to assets held for sale - -113
Other reclassifications - -4
Translation differences and internal gains -1 1
Dividends -50 -6
Carrying amount, 31 December 288 251
1) Share in associated companies’ net income and non-controlling interests.
Results from Wah Nobel (Pvt) Ltd. are recognised as nancial income and
expenses through prot or loss. Other associated companies are held for
operating purposes, i.e., they are related to operations of the business units or
in the venture portfolio and are therefore recognised in operating income.
During the rst half of , Saab sold all its shares in the associated com-
pany Grintek Ewation (Pty) Ltd. (. per cent) to Cassidian, a division of
. ese shares were classied as assets held for sale in . It also sold
all the shares in the associated company Image Systems  ( per cent) to
Digital Vision  and all its shares in the associated company Denel Saab
Aerostructures (Pty) Ltd ( per cent).
Acquisitions of shares in associated companies mainly refer to . per
cent in Avia Satcom Co., Ltd. In addition, Saab invested  , representing
more than  per cent of total shares, in the Swedish systems development
company  Technologies Int .
Shares in associated companies as of  December  include goodwill
of   ().
e Group’s share of sales, income, assets, liabilities and the carrying amount
of shares in associated companies is as follows.
2011
MSEK Country Sales
Share in
associated
companies’
income
Associated companies
Hawker Pacific Airservices Ltd Hong Kong 540 -17
Wah Nobel (Pvt) Ltd Pakistan 16 4
Taurus Systems GmbH Germany 50 2
S.N. Technologies SA Switzerland 15 -
Industrikompetens i Östergötland AB Sweden 46 -
Omnigo (Pty) Ltd South Africa 26 1
Kontorsbolaget i Karlskoga AB Sweden 21 1
Sörman Intressenter AB Sweden 40 3
FFV Services Private Limited India - -
Avia Satcom Co.Ltd Thailand 21 -
Other associated companies in the
venture portfolio 11 -6
Total 786 -12
2010
MSEK Country Sales
Share in
associated
companies’
income
Associated companies
Hawker Pacific Airservices Ltd Hong Kong 638 -16
Wah Nobel (Pvt) Ltd Pakistan 17 3
Taurus Systems GmbH Germany 163 12
S.N. Technologies SA Switzerland 19 8
Industrikompetens i Östergötland AB Sweden 44 1
Omnigo (Pty) Ltd South Africa 21 -2
Kontorsbolaget i Karlskoga AB Sweden 15 2
Sörman Intressenter AB Sweden 36 -
Grintek Ewation (Pty) Ltd South Africa 247 9
Denel Saab Aerostructures (Pty) Ltd 1) South Africa 49 -
Other associated companies in the
venture portfolio 25 -
Reversal provision related to Eurenco SA - 23
Total 1,274 40
1) Our share of the company’s result amounted to MSEK -61.
31-12-2011
MSEK Assets Liabilities
Booked
value,
shares in
associated
companies
Ownership
interest, %
Associated companies
Hawker Pacific Airservices Ltd 291 181 110 32.3
Wah Nobel (Pvt) Ltd 31 7 24 27.2
Taurus Systems GmbH 58 55 3 33.0
S.N. Technologies SA 21 10 11 50.0
Industrikompetens i
Östergötland AB 18 7 11 33.0
Omnigo (Pty) Ltd 16 8 8 40.0
Kontorsbolaget i Karlskoga
AB 126 121 5 50.0
Sörman Intressenter AB 18 14 4 25.3
FFV Services Private Limited 25 12 13 49.0
Avia Satcom Co.Ltd 106 28 78 36.6
Other associated companies
in the venture portfolio 26 5 21 -
Total 736 448 288 -
FINANCIAL INFORMATION > NOTES
106 SAAB ANNUAL REPORT 2011