Saab 2014 Annual Report Download - page 106

Download and view the complete annual report

Please find page 106 of the 2014 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 142

  • 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

FINANCIAL INFORMATION – NOTES
NOTE 22 SHARES IN JOINT VENTURES
CONSOLIDATED ACCORDING TO
THE PROPORTIONAL METHOD
The Group has a 50 per cent holding in the joint venture Gripen International KB.
Group holdings were reported using the proportional method through 2013; howe-
ver, application of IFRS 11, Joint Arrangements, requires that holdings be reported
using the equity method as of 2014. The Group’s remaining holdings in joint ventu-
res in 2013 are of an insignificant amount.
Effects of application of IFRS 11 on the financial position at the end and the
beginning of 2013 are reported in accordance with the equity method as shown
below. The change has not had a significant effect on the Group’s income state-
ment.
Year End 2013
Financial position MSEK
31-12-2013
actual
Adjustment
IFRS 11
31-12-2013
restated
Fixed assets 11,104 -7 11,097
Shares in joint ventures - 29 29
Current assets 16,801 -138 16,663
Total assets 27,905 -116 27,789
Total equity 12,227 - 12,227
Long term liabilities 4,498 - 4,498
Current liabilities 11,180 -116 11,064
Total liabilities 15 ,678 -116 15,562
Total equity and liabilities 27,905 -116 27,789
Opening balance 2013
Financial position MSEK
01-01-2013
actual
Adjustment
IFRS 11
01-01-2013
restated
Fixed assets 11,498 -2 11,496
Shares in joint ventures - 459 459
Current assets 17,440 -344 17,096
Total assets 28,938 113 29,051
Total equity 11,280 - 11,280
Long term liabilities 4,764 - 4,764
Current liabilities 12,894 113 13,007
Total liabilities 17,658 113 17,771
Total equity and liabilities 28,938 113 29,051
NOTE 23 PARENT COMPANY’S SHARES
IN ASSOCIATED COMPANIES
AND JOINT VENTURES
Parent Company
MSEK 2014 2013
Accumulated acquisition value
Opening balance, 1 January 137 565
Acquisitions 24 2
Divestments -26 -
Write-downs - -430
Closing balance, 31 December 135 137
Carrying amount, 31 December 135 137
Specification of Parent Company’s (co-owner’s) directly owned holdings
of shares in associated companies and joint ventures
2014
MSEK
% of votes
and capital
Carrying
amount
Associated companies
Kedtech Holding AB, 556945-3748, Stockholm 23.0 23
Industrikompetens i Östergötland AB, 556060-5478,
Linköping 33.0 2
AVIA SATCOM Co Ltd, Thailand 36.6 78
Aerostructures Assemblies India Pvt Ltd 50.0/26.0 3
Joint ventures
Gripen International KB, 969679-8231, Linköping 50.0 29
Industrigruppen JAS AB, 556147-5921, Stockholm 80.0
Total 135
2013
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
AVIA SATCOM Co Ltd, Thailand 36.6 78
Aerostructures Assemblies India Pvt Ltd 50.0/26.0 2
Joint ventures
Gripen International KB, 969679-8231, Linköping 50.0 29
Industrigruppen JAS AB, 556147-5921, Stockholm 80.0 4
Total 137
NOTE 24 RECEIVABLES FROM GROUP
COMPANIES
Parent Company
Long-term receivables
from Group companies
MSEK 2014 2013
Accumulated acquisition value
Opening balance, 1 January 747 861
Divestments - -114
Exchange rate differences 118 -
Closing balance, 31 December 865 747
102 – SAAB ANNUAL REPORT 2014