NWG Annual Report 2019 - EN NWG Annual Report 2019 - EN | Page 63

NWG // FINANCIAL INFORMATION
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 solu-
tions 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 operations
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 140.4
(145.6) million. Result before appropri-
ations and tax amounted to SEK 213.9
(151.1) million. The improved result is
attributable to dividends from Group
companies.
Cash flow from investing activities
amounted to SEK -9.9 (-86.6) million.
Last year included a net capital contri-
bution to Group companies of SEK -39.5
million and long-term loans to Group
companies of SEK -50.1 million. Net
debt amounted to SEK 2,074.2 (1,725.3)
million. The Parent Company's net
financing for Group companies amounted
to SEK 2,060.9 (1,665.6) million. The total
assets amounted to SEK 4,730.8 (4,368.0)
million and equity, including the equity
portion of untaxed reserves, amounted to
SEK 2,099.8 (1,961.7) 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 class A share carries ten votes and
each class B share carries one vote. The
offer of first refusal is in place for class A
shareholders in accordance with para-
graph 14 of the articles of association.
Through companies, Torsten Jansson
owns 34.1 (34.0) % of the capital and 82.1
(82.0)% 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 class 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
# # 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.
Significant events after
the balance sheet date
New Wave Group is largely affected by the
spread of the coronavirus. The demand
for the Group’s products and services is
expected to be significantly reduced for all
operating segments during the remainder
of the first calendar quarter of 2020.
The demand thereafter is expected to be
affected in particular during the second
calendar quarter, but it is currently not
possible to give any forecasts for periods
beyond that. The Group is currently taking
a number of actions to reduce costs and
minimize the effects of the virus outbreak.
For more information, see note 31.
Proposed distribution of
profit
The following is at the disposal of the
annual general meeting:
SEK
Retained earnings
Share premium reserve
Result for the year
Total
1 295 126 870
48 017 672
257 244 747
1 600 389 289
The Board proposes no dividend for 2019,
and that SEK 1,600,389,289 is carried
forward.
ANNUAL REPORT // 063