Saab 2014 Annual Report Download - page 92

Download and view the complete annual report

Please find page 92 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
Sales by operating segment
Parent Company
MSEK 2014 2013
Aeronautics 6,532 6,708
Electronic Defence Systems 3,526 3,084
Security and Defence Solutions 2,985 3,412
Support and Services 3,132 3,317
Total 16,175 16,521
Sales by geographical market
Parent Company
MSEK 2014 2013
Sweden 8,842 8,732
EU excluding Sweden 2,325 2,501
Rest of Europe 305 249
North America 1,411 1,288
Latin America 313 198
Asia 2,507 3,002
Africa 307 356
Australia, etc. 165 195
Total 16,175 16,521
NOTE 5 OTHER OPERATING INCOME
Group Parent Company
MSEK 2014 2013 2014 2013
Gain on sale of intellectual
property rights and tangible
fixed assets 111 37 110 37
Gain on sale of associated
companies 93 - - -
Gain on sale of Group
companies 57 - - -
Gain from revaluation of earn
out liability 24 106 - -
Gain from other operating
activities 24 4 - 16
Exchange rate gains
on operating receivables/
liabilities and change in value
of derivatives 21 1 7 2
Realised accumulated
translation differences 18 - - -
Trading results 17 21 17 21
Government grants 7 12 6 9
Change in value of
investment properties 2 - - -
Other 56 23 30 2
Total 430 204 170 87
Trading result refers to the result in Saab Treasury from trading in interest rate and
currency instruments according to the risk mandate approved by the Board of
Directors; see note 41.
Other operating activities consist of results from subsidiaries that fall outside core
operations and net rental income from property rentals.
NOTE 6 OTHER OPERATING EXPENSES
Group Parent Company
MSEK 2014 2013 2014 2013
Change in fair value of
biological assets -7 -10 - -
Exchange rate losses on
o perating receivables/
l iabilities and change in value
of derivatives -3 -8 -9 -10
Loss from other operating
activities -2 -1 - -
Loss on sale of tangible
fixed assets -2 -1 -2 -1
Cost related to lost
legal dispute - -231 - -231
Change in value of
investment properties - -2 - -
Other -7 -4 - -12
Subtotal -21 -257 -11 -254
Change in fair value
of derivatives -1 -9 - -
Change in value of
contracted flows 1 9 - -
Subtotal - - - -
Total -21 -257 -11 -254
Other operating activities consist of results from subsidiaries that fall outside
core operations.
NOTE 7 GOVERNMENT GRANTS
Saab receives government grants, mainly various grants from EU related to
research and development projects. For 2014, MSEK 72 (74) has been received.
MSEK 82 (83) has been recognised through profit or loss by reducing research and
development expenditures and as other operating income. In the statement of
financial position at year-end, MSEK 24 (34) is recognised as prepaid income.
Saab and the Ministry of Enterprise, Energy and Communications have reached
an agreement with the National Debt Office to co-finance Saab’s participation in
the Airbus A380 project. The co-financing is in the form of a royalty loan maximised
at MSEK 350. Repayment will take the form of a royalty on each delivery to Airbus.
Through 2014, the National Debt Office has paid out a net amount of MSEK 263
(263). The debt as of 31 December 2014 amounts to MSEK 162 (177), which redu-
ces inventory in the financial statements.
No contingent liabilities or contingent assets are reported.
Note 4, cont.
88 – SAAB ANNUAL REPORT 2014