Additional Disclosures

    The accounting policies applied comply with the Swedish Annual Accounts Act and the recommendations
    and statements of the Swedish Accounting Standards Board and Föreningen Auktoriserade Revisorer
    (FAR SRS).

    The following valuation and translation policies have been applied in the annual accounts:

    Joint owners

    Malmö Stad and Udviklingsselskabet By & Havn I/S are named joint owners in the annual accounts.

    Property, plant and equipment

    Property, plant and equipment is stated at cost less scheduled depreciation based on
    the assets' estimated useful economic lives.

    Assets are depreciated as follows:

    Buildings 20-50 years
    Cranes 25-30 years
    Permanent building equipment and installations 10-20 years
    Work machinery 7-10 years
    Vehicles and other equipment 5 years
    Computers 3-5 years

    Tax depreciation in excess of scheduled depreciation is regarded as accelerated depreciation,
    which constitutes an untaxed reserve.

    Buildings have no assessed value.

    Receivables and liabilities

    Receivables have been carried at the amounts at which they are expected to be received.

    Receivables and liabilities in foreign currencies have been converted into Swedish kronor at closing-date exchange rates. The difference between cost and the value at the closing date has been recognised in the income statement.

    Cash and cash equivalents

    Cash and cash equivalents comprise cash and bank balances and short-term investments.

    Foreign branch

    The income statement and balance sheet of the CMP's foreign branch have been converted using the current exchange rate method and the translation difference has been recognised in equity.

     

     

    Notes

    Note 1 Net sales
    (SEK 1 000) 2011 2010
    Terminal income 559 274 525 979
    Rental income 142 923 127 165
    Other income 24 774 21 841
    Total 726 971 674 895



    Note 2 Fees to auditors
    (SEK 1 000) 2011 2010
    Audit engagement 490 475
    Audit services in addition to audit engagement 78 71
    Tax advice 95 92
    Other services 82 28
    Total 745 666
    Audit engagement refers to the examination of the annual accounts and accounting records and of the Board of Directors’ and Managing Director’s management of the company.
    Audit services in addition to audit engagement refer to other duties incumbent on the company’s auditor as well as advice or other assistance occasioned by observations made in the course of such auditing.
    Tax advice is accounted for separately. Everything else is other services.



    Note 3 Number of employees, salaries and remuneration for employees and the Board
    Average number of employees 2011 2010
    Malmö
    Men 195
    172
    Women 23 24
      218
    196
    Copenhagen
    Men 178 175
    Women 25
    33
      203 208
    Total 421 404
     
    Staff costs
    (SEK 1 000) 2011 2010
    The Board, CEO and Deputy CEO
    Salaries and other remuneration 6 182 5 516
    of which bonuses 264 0
    Social-security contributions, 3 442 3 275
    of which pension costs and obligations 1 582  1 241
    Other employees
    Salaries and other remuneration 218 313 197 055
    of which bonuses 287 0
    Social-security contributions, 51 799 51 905
    of which pension costs and obligations 21 933  25 018
     
    Agreements on severance pay in the amount of two years' salary have been concluded with the CEO and Deputy CEO.
    Female representation on the Board and in management Board CEO and other senior executives
    Share of men in group 100% 100%



    Note 4 Property, plant and equipment
    (SEK 1 000) 31.12.2011 31.12.2010
    Buildings and land facilities
    Cost at beginning of year
    76 245 80 718
    Foreign exchange adjustment to opening value
    -83 -3 643
    Purchases
    60 0
    Sales/disposals
    0 -830
    Cost at end of year
    76 222 76 245
    Depreciation at beginning of year
    -10 332 -8 429
    Foreign exchange adjustment to opening value
    19 576
    Depreciation charge for the year
    -2 726 -2 742
    Sales/disposals
    0
    263
    Depreciation at end of year
    -13 039 -10 332
    Planned residual value at end of year
    63 183 65 913
    Machinery and other technical plant
    Cost at beginning of year
    326 815 359 121
    Adjustment to opening value

    -410 
    Foreign exchange adjustment to opening value
    -676 -29 918
    Purchases
    51 125 2 153
    Sales/disposals
    -1 347 -4 131
    Cost at end of year
    375 917 326 815
    Impairment at beginning of year
    -11 170 -11 170
    Impairment charge for the year
    0 0
    Impairment at end of year
    -11 170 -11 170
    Depreciation at beginning of year
    -181 807 -174 429
    Adjustment to opening value
    0
    410 
    Foreign exchange adjustment to opening value
    340 13 384
    Sales/disposals
    1 347 3 939
    Depreciation charge for the year
    -20 906 -25 111
    Depreciation at end of year
    -201 026 -181 807
    Planned residual value at end of year
    163 721 133 838
    Equipment, tools and installations
    Cost at beginning of year
    73 072
    84 723
    Foreign exchange adjustment to opening value
    -193 -8 329
    Purchases
    17 467 3 995
    Sales/Disposals
    0 -7 317
    Cost at end of year
    90 346 73 072
    Depreciation at beginning of year
    -54 054 -58 180
    Foreign exchange adjustment to opening value
    147 5 830
    Sales/disposals
    0 4 356
    Depreciation charge for the year
    -4 785 -6 060
    Depreciation at end of year
    -58 692 -54 054
    Planned residual value at end of year
    31 654 19 018
    Work in progress and advances
    Opening balance
    7 369 300
    Expenditure for the year
    77 556 13 491
    Reclassifications during the year
    -68 764 -6 327
    Foreign exchange adjustment
    -7 -95
    Closing balance
    16 154 7 369
    Lease payments
    (SEK 1,000)
    The company has lease expenses for cars, machinery and equipment.

    Total lease payments in 2011 were 3,245.
    Future known lease payments are as follows:
    2012: -2.392, 2013: -1.681, 2014: -997, 2015: -365, 2016: 0




    Note 5 Other receivables
    (SEK 1 000) 31.12.2011 31.12.2010
    Insurance compensation 0 761
    Other 2 587 1 015
      2 587 1 776



    Note 6 Prepaid expenses and accrued income
    (SEK 1 000) 31.12.2011 31.12.2010
    Accrued terminal income, etc. 16 391 12 037
    Accrued interest income 758
    3 363
    Prepaid expenses 4 937 4 894
      22 086 20 294



    Note 7 Appropriations and untaxed reserves
    (SEK 1 000) 31.12.2011 31.12.2010
    Balance-sheet allocations
    Difference between scheduled depreciation and
    permissible depreciation for tax purposes
    -2 663 -16 464
    Total appropriations -2 663 -16 464
    Untaxed reserves
    Accumulated additional depreciation 119 758 122 421
    Total untaxed reserves 119 758  122 421


    Note 8 Significant accruals
    (SEK 1 000) 31.12.2011 31.12.2010
    Accrued expenses and deferred income.
    Accrued salaries, holiday pay and social-security contributions 52 298 42 865
    Estimated payroll tax 2 517 4 715
    Accrued discounts 21 625 19 418
    Other 8 961 21 846
    Total accrued expenses and deferred income 85 401 88 484



    Note 9 Equity
    (SEK 1 000) Share capital Share premium acc. Statutory reserve Translation diff., branch Non-restricted equity Total equity
    Opening balance 100 000 20 000 388 -15 498 238 781 343 671
    Translation difference, affiliate       -2 170   -2 170
    Dividend to shareholders         -60 000 -60 000
    Profit for the year         80 569 80 569
    Total at end of year 100 000 20 000 388 -17 668
    259 350 362 070



    Note 10 Credit on current account
    The company has a SEK 30,000,000 credit line with Danske Bank. The overdraft facility was undrawn at the closing date.

     


     

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