1. Business segments
The Group’s operational activities are the responsibility of the Group’s CEO assisted by the Group Management Team. The division into business segments is based on the reports used by the Group Management Team for the allocation of resources and assessment of performance.
The Group Management Team monitors business performance by geographical area. The geographical segments monitored are Sweden, Finland, Denmark and the Baltics.
All the geographical segments manufacture, sell and market meat products, processed meat products and convenience foods.
The net sales and EBIT for specific segments do not include intercompany sales and margins. Segments report external sales and cost of the external sales.
The assets and liabilities of the segments are items that are either directly or fairly allocated to the business of the relevant segment. Segment assets include tangible and intangible assets, shares in associates, inventories and non-interest bearing receivables. Segment liabilities include current non-interest bearing liabilities. Unallocated items include financial and tax items and items common to the entire Group.
Year 2017 Swedish operations Finnish operations Danish
operations
Baltic
operations
Business
segments,
total
Group
adminis-
tration
Elimina-
tions
Un-
allocated
Group
total
INCOME STATEMENT INFORMATION
Net sales 759.4 742.2 147.8 158.7 1 808.1 - - - 1 808.1
EBIT 5.4 -16.5 -13.9 4.4 -20.6 -19.7 - - -40.3
Share of associates' results -0.2 2.4 -0.5 - 1.7 - - - 1.7
Financial income and expenses -10.6 -10.6
Income taxes 6.8 6.8
Result for the period, continuing operations -42.4
BALANCE SHEET INFORMATION
Segment assets 239.4 404.4 66.7 141.2 851.7 62.4 -32.5 - 881.6
Shares in associates 3.8 15.5 3.2 - 22.5 - - - 22.5
Unallocated assets - - - - - - - 48.6 48.6
Total assets 243.1 420.0 69.9 141.2 874.2 62.4 -32.5 48.6 952.7
Segment liabilities 106.8 154.8 17.6 20.8 300.0 13.5 -7.1 - 306.3
Unallocated liabilities - - - - - - - 295.3 295.3
Total liabilities 106.8 154.8 17.6 20.8 300.0 13.5 -7.1 295.3 601.6
OTHER INFORMATION
Sales, goods 759.0 740.8 147.8 158.6 1 806.2 - - - 1 806.2
Sales, services 0.3 1.4 - 0.1 1.8 - - - 1.8
Investments 13.7 96.9 1.3 10.0 122.0 3.5 - - 125.5
Depreciation and amortisation -11.2 -24.8 -8.9 -9.4 -54.3 -0.9 - - -55.2
Impairment - -4.2 -10.1 - -14.3 - - - -14.3
Goodwill 30.4 19.8 0.0 22.2 72.4 - - - 72.4
Cash flow before debt service 18.1 -56.0 0.8 4.4 -32.6 -17.0 - - -49.6
Cash flow before debt service reconciliation Group total
Cash flow from operating activities 45.7
Financial items (-) 10.6
Cash flow from investing activities -104.0
Loan receivables Borrowings and repayments (-) -1.9
Cash flow before debt service -49.6
Year 2016 Swedish operations Finnish operations Danish operations Baltic operations Business segments, total Group adminis-tration Elimina-tions Un-allocated Group total
INCOME STATEMENT INFORMATION
Net sales 790.8 774.9 149.5 157.7 1872.9 - - - 1 872.9
EBIT 9.5 15.3 -6.6 6.2 24.3 -14.7 - - 9.7
Share of associates' results -0.5 0.4 - - -0.1 - - - -0.1
Financial income and expenses -8.7 -8.7
Income taxes -4.4 -4.4
Result for the period, continuing operations -3.6
BALANCE SHEET INFORMATION
Segment assets 240.5 346.0 84.2 137.2 807.9 47.9 -64.7 - 791.1
Shares in associates 4.3 14.0 3.7 - 22.0 0.1 - - 22.2
Unallocated assets - - - - - - - 41.5 41.5
Total assets 244.8 360.1 87.9 137.2 830.0 48.0 -64.7 41.5 854.8
Segment liabilities 100.0 155.3 17.9 19.7 293.0 10.2 -33.7 - 269.4
Unallocated liabilities - - - - - - - 175.7 175.7
Total liabilities 100.0 155.3 17.9 19.7 293.0 10.2 -33.7 175.7 445.1
OTHER INFORMATION
Sales, goods 790.2 770.2 149.5 157.5 1 867.4 - - - 1 867.4
Sales, services 0.7 4.7 - 0.2 5.6 - - - 5.6
Investments 19.8 60.3 3.1 10.8 94.0 3.6 - - 97.6
Depreciation and amortisation -11.3 -24.6 -9.4 -8.9 -54.1 -0.4 - - -54.6
Impairment -0.4 - - - -0.4 - - - -0.4
Goodwill 31.4 19.8 3.6 22.2 77.0 - - - 77.0
Cash flow before debt service 8.2 25.9 -0.8 6.7 40.1 -16.4 - - 23.7
Cash flow before debt service reconciliation to Group total
Cash flow from operating activities 70.9
Financial items (-) 6.9
Cash flow from investing activities -53.9
Loan receivables Borrowings and repayments (-) -0.2
Cash flow before debt service 23.7