Securitas Annual Report 2007

Balance sheet        
MSEK Note 2007 2006 2005
ASSETS        
Fixed assets        
Other intangible assets 47 29.1 8.9 21.5
Machinery and equipment 48 3.7 3.6 2.2
Shares in subsidiaries 49 51,050.1 51,580.5 54,397.2
Shares in associated companies 50 110.0 163.8 163.8
Interest-bearing financial fixed assets 42 13.1 1,181.9 42.5
Deferred tax assets   38.9
Other long-term receivables   58.2 54.1 54.6
Total fixed assets   51,264.2 53,031.7 54,681.8
         
Current assets        
Current receivables from subsidiaries   2,027.1 1,705.5 3,501.9
Interest-bearing current receivables from subsidiaries 42 12,415.5 10,991.9 13,262.0
Other current receivables   14.8 8.4 0.1
Current tax assets   3.3 5.8 16.0
Prepaid expenses and accrued income 51 371.8 287.4 521.3
Other interest-bearing current receivables 42 1,433.5 166.3
Short-term investments 52 3,187.2 813.3 1,758.6
Cash and bank deposits 52 0.1 0.0
Total current assets   19,453.3 13,978.6 19,059.9
         
TOTAL ASSETS   70,717.5 67,010.3 73,741.7
         
SHAREHOLDERS’ EQUITY AND LIABILITIES Shareholders’ equity Restricted equity        
Share capital   365.1 365.1 365.1
Legal reserve   7,362.6 7,362.6 7,362.6
Total restricted equity   7,727.7 7,727.7 7,727.7
         
Non-restricted equity        
Hedging reserve   4.8 25.3
Translation reserve   266.5 172.9 248.9
Retained earnings   15,896.0 14,150.6 19,907.9
Net income for the year   588.4 2,877.1 4,014.9
Total non-restricted equity   16,755.7 17,225.9 24,171.7
         
Total shareholders’ equity 53 24,483.4 24,953.6 31,899.4
         
Untaxed reserves        
Accumulated accelerated depreciation   0.1 7.8
Total untaxed reserves   0.1 7.8
         
Long-term liabilities        
Long-term liabilities to subsidiaries   7.7
Long-term interest-bearing liabilities to subsidiaries   54.3
Long-term convertible debenture loans 54 2,386.4
Other long-term loan liabilities   3,943.0 4,575.6 3,878.1
Other long-term liabilities   58.8 55.4 56.6
Total long-term liabilities 55 4,001.8 4,631.0 6,383.1
         
Current liabilities        
Current liabilities to subsidiaries   59.9 153.8 181.0
Interest-bearing current liabilities to subsidiaries 42 31,009.6 30,113.8 27,409.0
Group account bank overdraft   731.4 825.0 642.3
Short-term convertible debenture loans 54 2,300.0
Other short-term loan liabilities 42 9,935.9 3,714.9 6,660.8
Accounts payable   32.8 11.7 12.7
Accrued expenses and prepaid income 56 448.8 299.6 540.6
Other current liabilities   13.9 6.8 5.0
Total current liabilities   42,232.3 37,425.6 35,451.4
         
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES   70,717.5 67,010.3 73,741.7
         
Pledged assets 57 58.3 54.0 None
Contingent liabilities 58 2,311.4 2,488.6 4,816.5
Changes in shareholders’ equity              
            Retained  
            earnings and  
      Premium     net income for  
MSEK Share capital1 Legal reserve reserve Hedging reserve Translation reserve the year Total
Opening balance 2005 365.1 695.2 6,667.4 21,003.1 28,730.8
Transfer of opening balance, Premium reserve 6,667.4 –6,667.4
Net investment hedges 248.9 248.9
Net income for the year 4,014.9 4,014.9
Total change excluding transactions with equity holders 6,667.4 –6,667.4 248.9 4,014.9 4,263.8
Dividend paid –1,095.2 –1,095.2
Opening balance 2006 365.1 7,362.6 248.9 23,922.8 31,899.4
Effect of change in accounting principle IAS 39 11.2 24.7 35.9
Opening balance 2006 adjusted              
in accordance with new principle 365.1 7,362.6 11.2 248.9 23,947.5 31,935.3
Cash flow hedges              
Transfer to hedging reserve before tax 30.6 30.6
Deferred tax on transfer to hedging reserve –8.6 –8.6
Transfer to statement of income before tax –11.0 –11.0
Deferred tax on transfer to statement of income 3.1 3.1
Net investment hedges –76.0 –76.0
Net income for the year 2,877.1 2,877.1
Total change excluding transactions with equity holders 14.1 –76.0 2,877.1 2,815.2
Dividend paid –1,277.7 –1,277.7
Dividend of shares in Securitas Direct AB              
and Securitas Systems AB –8,519.2 –8,519.2
Opening balance 2007 365.1 7,362.6 25.3 172.9 17,027.7 24,953.6
Cash flow hedges              
Transfer to hedging reserve before tax 4.6 4.6
Deferred tax on transfer to hedging reserve –1.3 –1.3
Transfer to statement of income before tax –33.1 –33.1
Deferred tax on transfer to statement of income 9.3 9.3
Net investment hedges 93.6 93.6
Net income for the year 588.4 588.4
Total change excluding transactions with equity holders –20.5 93.6 588.4 661.5
Dividend paid –1,131.7 –1,131.7
Closing balance 2007 365.1 7,362.6 4.8 266.5 16,484.4 24,483.4
1 For information regarding the numbers of shares outstanding refer to Note 53.            

Balance sheet        
MSEK Note 2007 2006 2005
ASSETS        
Fixed assets        
Other intangible assets 47 29.1 8.9 21.5
Machinery and equipment 48 3.7 3.6 2.2
Shares in subsidiaries 49 51,050.1 51,580.5 54,397.2
Shares in associated companies 50 110.0 163.8 163.8
Interest-bearing financial fixed assets 42 13.1 1,181.9 42.5
Deferred tax assets   38.9
Other long-term receivables   58.2 54.1 54.6
Total fixed assets   51,264.2 53,031.7 54,681.8
         
Current assets        
Current receivables from subsidiaries   2,027.1 1,705.5 3,501.9
Interest-bearing current receivables from subsidiaries 42 12,415.5 10,991.9 13,262.0
Other current receivables   14.8 8.4 0.1
Current tax assets   3.3 5.8 16.0
Prepaid expenses and accrued income 51 371.8 287.4 521.3
Other interest-bearing current receivables 42 1,433.5 166.3
Short-term investments 52 3,187.2 813.3 1,758.6
Cash and bank deposits 52 0.1 0.0
Total current assets   19,453.3 13,978.6 19,059.9
         
TOTAL ASSETS   70,717.5 67,010.3 73,741.7
         
SHAREHOLDERS’ EQUITY AND LIABILITIES Shareholders’ equity Restricted equity        
Share capital   365.1 365.1 365.1
Legal reserve   7,362.6 7,362.6 7,362.6
Total restricted equity   7,727.7 7,727.7 7,727.7
         
Non-restricted equity        
Hedging reserve   4.8 25.3
Translation reserve   266.5 172.9 248.9
Retained earnings   15,896.0 14,150.6 19,907.9
Net income for the year   588.4 2,877.1 4,014.9
Total non-restricted equity   16,755.7 17,225.9 24,171.7
         
Total shareholders’ equity 53 24,483.4 24,953.6 31,899.4
         
Untaxed reserves        
Accumulated accelerated depreciation   0.1 7.8
Total untaxed reserves   0.1 7.8
         
Long-term liabilities        
Long-term liabilities to subsidiaries   7.7
Long-term interest-bearing liabilities to subsidiaries   54.3
Long-term convertible debenture loans 54 2,386.4
Other long-term loan liabilities   3,943.0 4,575.6 3,878.1
Other long-term liabilities   58.8 55.4 56.6
Total long-term liabilities 55 4,001.8 4,631.0 6,383.1
         
Current liabilities        
Current liabilities to subsidiaries   59.9 153.8 181.0
Interest-bearing current liabilities to subsidiaries 42 31,009.6 30,113.8 27,409.0
Group account bank overdraft   731.4 825.0 642.3
Short-term convertible debenture loans 54 2,300.0
Other short-term loan liabilities 42 9,935.9 3,714.9 6,660.8
Accounts payable   32.8 11.7 12.7
Accrued expenses and prepaid income 56 448.8 299.6 540.6
Other current liabilities   13.9 6.8 5.0
Total current liabilities   42,232.3 37,425.6 35,451.4
         
TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES   70,717.5 67,010.3 73,741.7
         
Pledged assets 57 58.3 54.0 None
Contingent liabilities 58 2,311.4 2,488.6 4,816.5

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Changes in shareholders’ equity              
            Retained  
            earnings and  
      Premium     net income for  
MSEK Share capital1 Legal reserve reserve Hedging reserve Translation reserve the year Total
Opening balance 2005 365.1 695.2 6,667.4 21,003.1 28,730.8
Transfer of opening balance, Premium reserve 6,667.4 –6,667.4
Net investment hedges 248.9 248.9
Net income for the year 4,014.9 4,014.9
Total change excluding transactions with equity holders 6,667.4 –6,667.4 248.9 4,014.9 4,263.8
Dividend paid –1,095.2 –1,095.2
Opening balance 2006 365.1 7,362.6 248.9 23,922.8 31,899.4
Effect of change in accounting principle IAS 39 11.2 24.7 35.9
Opening balance 2006 adjusted              
in accordance with new principle 365.1 7,362.6 11.2 248.9 23,947.5 31,935.3
Cash flow hedges              
Transfer to hedging reserve before tax 30.6 30.6
Deferred tax on transfer to hedging reserve –8.6 –8.6
Transfer to statement of income before tax –11.0 –11.0
Deferred tax on transfer to statement of income 3.1 3.1
Net investment hedges –76.0 –76.0
Net income for the year 2,877.1 2,877.1
Total change excluding transactions with equity holders 14.1 –76.0 2,877.1 2,815.2
Dividend paid –1,277.7 –1,277.7
Dividend of shares in Securitas Direct AB              
and Securitas Systems AB –8,519.2 –8,519.2
Opening balance 2007 365.1 7,362.6 25.3 172.9 17,027.7 24,953.6
Cash flow hedges              
Transfer to hedging reserve before tax 4.6 4.6
Deferred tax on transfer to hedging reserve –1.3 –1.3
Transfer to statement of income before tax –33.1 –33.1
Deferred tax on transfer to statement of income 9.3 9.3
Net investment hedges 93.6 93.6
Net income for the year 588.4 588.4
Total change excluding transactions with equity holders –20.5 93.6 588.4 661.5
Dividend paid –1,131.7 –1,131.7
Closing balance 2007 365.1 7,362.6 4.8 266.5 16,484.4 24,483.4
1 For information regarding the numbers of shares outstanding refer to Note 53.