NWG // FINANCIAL INFORMATION
The Parent company
Total income for the year amounted to 108.4 ( 131.5 ). Result before appropriations and tax amounted to SEK 474.7 ( 94.6 ) million . The improvement in earnings is attributable to dividends from foreign subsidiaries .
Cash flow from investing activities was positive and amounted to SEK 285.8 ( 5.3 ) million , which is related to amortization of long-term receivables from Group companies . Net debt amounted to SEK 552.2 ( 1,129.4 ) million . The parent company ' s net financing to subsidiaries amounted to SEK 1,192.5 ( 1,241.5 ) million . Total assets amounted to SEK 3,875.0 ( 4,004.6 ) million and equity , including the equity portion of untaxed reserves , to SEK 2,557.6 ( 2,195.8 ) million .
New Wave Group ' 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 accordance with paragraph 14 of the articles of association .
As per 31 December , Torsten Jansson through companies owns 33.9 ( 34.2 ) % of the capital and 82.0 ( 82.1 )% 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 authorization , 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 54-57 .
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
Important events after the financial period
The conflict between Russia and Ukraine has significantly increased geopolitical
ANNUAL REPORT // 069