Saab 2013 Annual Report Download - page 122

NOTE 48 Environmental Report
Operations subject to licensing in the Parent Company
Production of aircra and aircra components by the Parent Company,
Saab, in the Tannefors industrial zone in the municipality of Linköping is
subject to licensing pursuant to the Swedish Environment Code due to aero-
nautics operations, surface treatment processes, manufacturing of composite
materials, handling of chemical substances and the size of the manufacturing
facilities. e environmental impact of these operations primarily arises from
emissions of volatile organic compounds (s) and aircra emissions into
the atmosphere and of metals into waterways, the generation of industrial
wastes and noise disturbing local surroundings. e manufacturing opera-
tions predominantly entail operations subject to licensing. e National
Licensing Board for Environmental Protection granted the licence for aircra
manufacture in . e supervisory authorities and the Land and Environ-
ment Court imposed additional terms for these operations in  and ,
respectively, against the backdrop of the ’s  directive.
In Järfälla, Saab  has operations involving the manufacture of advanced
command and control systems, among other things, which are also subject to
licensing under to the Environment Code. e licensing requirement is due
to surface treatment processes and the size of the manufacturing facilities.
e environmental impact of these operations primarily arises from 
emissions into the atmosphere and of metals into waterways. e National
Licensing Board for Environmental Protection granted the licence in .
With the exception of a few exceeded recommended values, Saab  did
not exceed any conditions in its permits or injunctions in .
Operations subject to licensing in subsidiaries
e operations carried on by Saab Airport  are subject to licensing under
the Environment Code and are covered by the permit issued by the National
Licensing Board for Environmental Protection in  for Saab ’s collec-
tive operations in the Tannefors industrial zone in the municipality of
Linköping. is permit also covers the operations of Saab Dynamics  in
the area, despite the fact that they are not subject to licensing and notication
requirements under the Environment Code.
Saab Dynamics  and Saab Bofors Test Center  run operations in
Karlskoga that are subject to licensing under the Environment Code. In addi-
tion, Saab Barracuda  runs operations subject to licensing in Gamleby.
e environmental impact from subsidiaries subject to licensing primar-
ily consists of emissions of s and emissions from aircra into the atmos-
phere, emissions of metals and de-icing solvents into waterways, generation
of industrial wastes and noise disturbing local surroundings.
In , none of Saab’s subsidiaries exceeded any conditions of their per-
mits or injunctions.
Operations subject to notification requirements
Saab  has operations in Arboga, Huskvarna, Ljungbyhed, Malmslätt,
Nyköping and Östersund which are subject to notication requirements pur-
suant to the Swedish Environment Code. Permits in Arboga and Malmslätt
still apply. ese were granted by the county boards in  and , respec-
tively. e Group also has operations subject to notication requirements in
the subsidiaries Saab Dynamics  in Motala and Saab Precision Compo-
nents  in Jönköping. Permit in Motala still applies. e environmental
impact of these operations is extremely limited.
NOTE 49 Exchange Rates used in Financial Statements
Year-end rate Average rate
Country 2013 2012 2013 2012
Australia AUD 1 5.76 6.77 6.30 7.02
Denmark DKK 100 119.86 115.52 115.99 116.96
Euro EUR 1 8.94 8.62 8.65 8.71
India INR 100 10.49 11.88 11.17 12.71
Canada CAD 1 6.07 6.55 6.33 6.78
Norway NOK 100 105.80 116.72 110.95 116.41
Switzerland CHF 1 7.29 7.13 7.03 7.22
UK GBP 1 10.73 10.49 10.19 10.73
South Africa ZAR 100 62.13 76.61 67.73 82.75
Czech Republic CZK 100 32.60 34.36 33.33 34.64
USA USD 1 6.51 6.52 6.51 6.78
NOTE 50 Definitions of Key Ratios
Capital employed Total capital less non-interest-bearing liabilities.
Capital turnover Sales divided by average capital employed.
Cash flow from operating activities per share Cash ow from operating ac-
tivities divided by the average number of shares aer dilution.
Earnings per share Net income for the year attributable to Parent Company
shareholders’ interest , divided by the average number of shares before and
aer full dilution. ere is no dilution impact if the result is negative.
EBITDA margin Operating income before depreciation, amortisation and
impairments less depreciation and impairments of lease aircras as a per-
centage of sales.
Equity/assets ratio Equity in relation to total assets.
Equity per share Equity attributable to the Parent Company’s shareholders
divided by the number of shares, excluding treasury shares, at the end of the
year.
Gross margin Gross income as a percentage of sales.
Interest coverage ratio Operating income plus nancial income divided by
nancial expenses.
Net liquidity/net debt Liquid assets, short-term investments and interest-
bearing receivables less interest-bearing liabilities and provisions for pen-
sions, excluding special employer’s contribution.
Operating cash flow per share Operating cash ow divided by the average
number of shares aer dilution.
Operating margin Operating income as a percentage of sales.
Profit margin Operating income plus nancial income as a percentage of
sales.
Return on capital employed Operating income plus nancial income as a
percentage of average capital employed.
Return on equity Net income for the year as a percentage of average equity.
FINANCIAL INFORMATION > NOTES
118 SAAB ANNUAL REPORT 2013