NWG // FINANCIAL INFORMATION // THE GROUP
Note 20- Net assets in foreign currencies
The table shows currency exposed equity distributed by each currency before Group adjustments.
SEK million Net assets 2024 2023 Euro, EUR 1,951.4 1, 627.6 Canadian dollar, CAD 190.6 224.1 Swiss franc, CHF 270.3 401.7 US dollar, USD 2,613. 4 2,187.9 Norwegian krone, NOK 226.4 206.4 Danish krone, DKK 82.0 90.9 Chinese yuan, CNY 76.4 43.0 Polish zloty, PLN 124. 4 107.6 Hong Kong dollar, HKD 140.7 126.8 British pound, GBP 476.4 414. 4 Icelandic krona, ISK-0.2 1.3 Total net assets in foreign currencies 6,151.8 5,431.6
Note 21- Pledged assets and contingent liabilities
Pledged assets
The Group ' s pledged assets consists of collateral for the Group ' s interest-bearing liabilities to credit institutions which amounted to SEK 1,650.1( 1,841.1) million at year-end. Security for the main financing agreement is made up of floating charges, property mortgages, and t assets in Group companies. Trademarks have been specifically pledged and are included in the net assets of the Group companies. Parts of the Group’ s inventory and accounts receivable constitute security for Group companies’ local funding. See further Note 16, section Liquidity risk, for maturity analysis and information regarding the conditions for the Group’ s financing.
Contingent liabilities
Accounting policies
A contingent liability is recognized for a possible obligation, for which it is not yet confirmed that a present obligation exists that could lead to an outflow of resources. Alternatively, there is a present obligation that does not meet the definitions of a provision or a liability as it is not probable that an outflow of resources will be required to settle the obligation or a sufficiently reliable estimate of the amount of the obligation cannot be made.
SEK million 2024 2023 Duty guarantees 14.2 13.6 Rent guarantees 122.3 111. 5 Guarantees for associated companies 6.0 6.0
Total 142.6 131.1
Note 22- Other current liabilities
SEK million |
2024 |
2023 |
VAT |
90.2 |
113. 3 |
Employee withholding taxes |
14.4 |
16.4 |
Liabilities to employees |
2.0 |
6.7 |
Repayment liabilities, returns |
16.6 |
17.2 |
Currency futures |
0.0 |
4.3 |
Social security contributions |
0.0 |
0.6 |
Other wage deductions |
0.4 |
0.6 |
Other items |
73.7 |
29.4 |
Total |
197.3 |
188.4 |
SEK million |
2024 |
2023 |
Floating charges |
635.4 |
634.7 |
Property mortgages |
199.2 |
195.2 |
Net assets in Group companies |
3,976. 7 |
4,628.6 |
Shares in associated companies |
8.3 |
8.3 |
Inventory and accounts receivable |
186.8 |
415.9 |
Total |
5,006.5 |
5,882.7 |
124 // ANNUAL REPORT