New Wave Group AB Annual_report_2018_EN_HQ | Page 63

NWG // FINANCIAL INFORMATION
deposits at banks and financial insti-
tutions, currency futures and other
financial instruments. The Group’s
total exposure to credit risk amounted,
at year-end, to SEK 1,485.2 (1,257.3)
million.
For a more extensive description
of the Group’s risk exposures and risk
management see note 17.
Environment
New Wave Group has a responsibility to
ensure that our business operations, and
the business operations of our suppliers,
respect the legal provisions of different
countries, as well as basic human rights
and working conditions. New Wave
Group works systematically with regard
to supplier auditing, monitoring, and
dialogue in order to ensure that our
business operations are conducted in the
most responsible manner possible with
regard to people and environment.
New Wave Group understands how
our business operations are so closely
related to local and global environmental
issues. As the Group grows in size, and
as more customers buy our products, our
environmental impact will increase. For
this reason, New Wave Group is striving
to develop environmentally sustainable
solutions with regard to transport,
packaging, and manufacturing.
New Wave Group aims to be the
industry leader in CSR (Corporate Social
Responsibility) and sustainability.
The Group’s subsidiary Orrefors
Kosta Boda AB conducts licensed opera-
tions under the Environmental code.
For additional information see our
Sustainability report and our section
CSR and the sustainability on pages
36-37.
The Parent company
Total income amounted to SEK 145.6
(92.2) million. Result before appro-
priations and taxes amounted to SEK
151.1 (298.9) million. The lower result
is related to lower dividends from Group
companies. Net debt amounted to SEK
1,725.3 (1,566.5) million. The Parent
company's net financing to Group
companies amounted to SEK 1,665.6
(2,040.3) million. Cash flow from
investing activities amounted to SEK
-86.6 (-63.5) million. The balance sheet
total amounted to SEK 4,368.1 (3,813.5)
million and shareholders' equity,
including 78 % of untaxed reserves, to
SEK 1,961.7 (1,863.6) million.
New Wave's share
The number of shares in New Wave
Group AB amounts to 66,343,543 with
a quota value of SEK 3.00. The shares
have equal rights to the Company’s assets
and profits. Each Series A share carries
ten votes and each Series B share carries
one vote. The offer of first refusal is in
place for Series A shareholders in accor-
dance with paragraph 14 of the articles
of association.
Through companies, Torsten Jansson
owns 34.0 (32.6) % of the capital and
82.0 (81.7)% of the votes.
The following authorization has been
given to the Board until the next AGM:
# # to, on one or several occasions,
decide on the new issue of a
maximum of 4 000 000 Series B
shares. The authorization includes
the right to decide to deviate from
the shareholders’ preferential
rights, unless the decision refers to
a new issue in which consideration
is comprised only of cash. Through
decisions supported by the authori-
zation, share capital will be allowed
to increase by a total maximum of
SEK 12 000 000.The authorization
will also include the right to decide
on new issues with a dominance
in kind, or that shares shall be
subscribed with a right of set-off or
otherwise with conditions as stated
in chapter 13, section 5, point 6 of
the Companies Act. The reason for
the deviation from the shareholders’
preferential rights is that the new
issue of shares shall be used for the
acquisition of companies and for
financing continued expansion.
The basis of the issue price will be
the share’s market value at the time
of issue.
# # to, on one or more occasions, decide
to raise financing of a kind that is
covered by the provisions in chapter
11, section 11 of the Companies Act.
Such financing will take place on
market terms. The reason for this
authorization is that the Company
should have the opportunity to
raise financing on attractive
terms for the Company in which
the interest rate may depend on
the Company’s result or financial
position, for example.
For additional information about the
share, see pages 48–51.
Growth target and
dividend policy
The growth target over one business
cycle is 10-20 % per year, of which
5-10 % should be organic growth and
15 % operating margin. The dividend
policy is that the dividend will account for
40 % of the Group’s result after taxes
over a business cycle.
In general
A report on the Group’s governance and
the work of the Board is presented in the
section on Corporate Governance.
ANNUAL REPORT // 063