Saab 2011 Annual Report Download - page 111

Download and view the complete annual report

Please find page 111 of the 2011 Saab annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 158

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158

31-12-2010
MSEK Assets Liabilities
Booked
value,
shares in
associated
companies
Ownership
interest, %
Associated companies
Hawker Pacific Airservices Ltd 310 152 158 33.0
Wah Nobel (Pvt) Ltd 28 6 22 27.2
Taurus Systems GmbH 91 76 15 33.0
S.N. Technologies SA 20 9 11 50.0
Industrikompetens i
Östergötland AB 21 11 10 33.0
Omnigo (Pty) Ltd 15 6 9 40.0
Kontorsbolaget i Karlskoga
AB 124 119 5 50.0
Sörman Intressenter AB 16 14 2 25.3
Denel Saab Aerostructures
(Pty) Ltd 2) 88 172 - 20.0
Other associated companies
in the venture portfolio 24 5 19 -
Total 737 570 251 -
2) Saab is confident that the negative equity will not affect its results and liquidity.
NOTE 22
SHARES IN JOINT VENTURES CONSOLIDATED ACCORDING TO THE
PROPORTIONAL METHOD
e Group has a  per cent holding in the joint venture Gripen International
, whose principal activity is to oer, market and provide services for air-
cra, military materiel and related equipment. e Group’s remaining hold-
ings in joint ventures are of an insignicant amount.
e Group’s nancial reports include the following items that constitute
the Group’s ownership interest in the joint venture’s sales, income, assets and
liabilities.
Gripen International KB
MSEK 2011 2010
Sales 42 96
Net income 70 110
MSEK 31-12-2011 31-12-2010
Fixed assets - 6
Current assets 821 793
Total assets 821 799
Current liabilities 387 435
Total liabilities 387 435
Net assets 434 364
NOTE 23
PARENT COMPANY’S SHARES IN ASSOCIATED COMPANIES AND JOINT VENTURES
Parent Company
MSEK 2011 2010
Accumulated acquisition value
Opening balance, 1 January 491 528
Acquisitions 78 7
Divestments -68 -154
Reclassifications -19 -
Share of net income for the year in limited partnerships 70 110
Closing balance, 31 December 552 491
Accumulated impairments
Opening balance, 1 January - -98
Divestments - 98
Closing balance, 31 December - -
Carrying amount, 31 December 552 491
Specification of Parent Company’s (co-owner’s) directly owned holdings
of shares in associated companies and joint ventures.
2011
MSEK
% of votes
and capital
Carrying
amount
Associated companies
Hawker Pacific Airservices Ltd, Hong Kong 32.3 22
Industrikompetens i Östergötland AB,
556060-5478, Linköping 33.0 2
Sörman Intressenter AB, 556741-2233, Stockholm 25.3 3
Avia Satcom Co Ltd, Thailand 36.6 78
Joint ventures
Gripen International KB, 969679-8231, Linköping 50.0 434
Industrigruppen JAS AB, 556147-5921, Stockholm 80.0 4
Avia Tech Systems Co. Ltd., Thailand 40.0 9
Total 552
2010
MSEK
% of votes
and capital
Carrying
amount
Associated companies
Hawker Pacific Airservices Ltd, Hong Kong 33.0 22
Industrikompetens i Östergötland AB,
556060-5478, Linköping 33.0 2
Sörman Intressenter AB, 556741-2233, Stockholm 25.3 3
Denel Saab Aerostructures (Pty) Ltd, South Africa 20.0 64
Vingtec Saab AS, Norway 49.0 -
Image Systems AB, 556550-5400, Linköping 35.8 4
Joint ventures
Saab Natech AB, 556627-5003, Jönköping 51.0 7
Gripen International KB, 969679-8231, Linköping 50.0 365
Gripen Venture Capital AB, 556298-6629, Linköping 50.0 12
SAAB-BAE SYSTEMS Gripen AB,
556527-6721, Linköping 50.0 -
Saab Ericsson NBD Innovation AB,
556628-6406, Stockholm 60.0 -
Industrigruppen JAS AB, 556147-5921, Stockholm 80.0 3
Avia Tech Systems Co. Ltd., Thailand 40.0 9
Total 491
NOTE 21, CONT.
FINANCIAL INFORMATION > NOTES
SAAB ANNUAL REPORT 2011 107