Notes
Note 1. Accounting and valuation principles
Since January 1, 2005, Duni applies International Financial Reporting Standards (IFRS) as adopted by the European Union. For transition effects see notes 45 and 46 in the Annual Report of 30 June 2007.
This interim report has been prepared in accordance with IAS 34, Interim Reporting. The consolidated financial statements have been prepared in accordance with IFRS as adopted by the EU and with the related reference to Chapter 9 of the Annual Accounts Act. The parent company’s financial statements are prepared in accordance with RFR 2.1, Reporting for Legal Entities, and the Annual Accounts Act. The accounting principles are the same as in the Annual Report as per 31 December 2007.
Note 2. Divested business
The American businesses, Duni Corporation and Duni Supply Corporation, were sold in August 2006. In November 2007, Duni and Innoware LLC came to a final agreement concerning the purchase price and the arbitration proceedings between them were avoided. The final purchase price was adjusted by SEK 31 m. The effect on cash flow was SEK - 29 m. In connection with this settlement, the provision was adjusted and SEK 15 m was dissolved as an additional capital gain on the sale of Duni Americas.
The sale of deSter Holding B.V. was completed in March 2007.
Note 3. Clarification of operating cash flow for continuing operations 1 January – 30 September 2007
Investments
Duni’s total net investments for the period 1 January – 30 September 2007 amounted to SEK 91 m. The net investments in the continuing operations have been SEK 77 m. Net investments in the continuing operations for the rolling twelve months October 2007 – September 2008 amounted to SEK 138 m.
Changes in working capital
The net change in operating working capital, inventory/accounts receivables/accounts payables during the period 1 January – 30 September, 2007 amounted to SEK -156 m. The change involves a net change of SEK -94 m in inventory, a net change of SEK -92 m in accounts receivable, and a net change of SEK 30 m in accounts payable for the continuing operations. The net change in the continuing operations for the rolling twelve months October 2007 – September 2008 amounts to SEK -39 m in inventory, SEK -25 m in accounts receivable and SEK -35 m in accounts payable.
Note 4. Sales development per geographic area
|
Net Sales - Professional |
Jan-Sep 2008 |
Jan-Sep 2007 |
Change |
|
FY 2007 |
|
|
|
|
|
|
|
|
Nordic region |
486 |
476 |
2% |
|
674 |
|
Central Europe |
1 172 |
1 112 |
5% |
|
1 537 |
|
Southern & Eastern Europe |
345 |
317 |
9% |
|
412 |
|
Rest of the World |
15 |
15 |
0% |
|
18 |
|
Total |
2 018 |
1 920 |
5% |
|
2 641 |
|
Net Sales – Retail |
Jan-Sep 2008 |
Jan-Sep 2007 |
Change |
|
FY 2007 |
|
|
|
|
|
|
|
|
Nordic region |
105 |
115 |
-9% |
|
168 |
|
Central Europe |
401 |
410 |
-2% |
|
621 |
|
Southern & Eastern Europe |
10 |
7 |
43% |
|
11 |
|
Rest of the World |
0 |
0 |
0% |
|
0 |
|
Total |
516 |
532 |
3% |
|
800 |