72 127(±6+$5(+2/'(56¶(48,7< Group Share capital As of December 31, 2016 the Group’s registered share capital was 42,288,489 shares (SEK 422,884,890). Reserves Translation reserve Translation reserves include all exchange differences that arise when translating financial statements from foreign operations whose financial statements are stated in currencies other than the Group’s presentation currency. The Parent company and the Group present their financial statements in SEK. Hedging reserve The hedging reserve encompasses the effective portion of the accumulated net change in the fair value of a cash flow hedging instrument attributable to hedging transactions yet to take place. Statutory reserve The statutory reserve refers to a reduction of the share capital carried out previously. Retained profits and profit for the year Retained profits and profit for the year include profits earned and retained by the Parent and subsidiaries, investments in associates, revaluation of the net pension commitment, new share issue, net effect of acquisition of minority share and profit for the year. Treasury shares The Group owned a total of 0 (0) treasury shares as of December 31, 2016. Specification of equity item “Reserves” Statutory reserve +HGJLQJ reserve Translation reserve Total 2015 opening balance 5 -12 195 188 Exchange differences - - 48 48 Cash flow hedges recognized in "Other comprehensive income" - 25 - 25 7DRQFDVKIORZKHGJHVUHFRJQLHGLQ´2WKHUFRPSUHKHQVLYHLQFRPH´ - -6 - -6 FORVLQJEDODQFH 7 243 2016 opening balance 5 7 243 255 Exchange differences - - 188 188 Cash flow hedges recognized in "Other comprehensive income" - 23 - 23 7DRQFDVKIORZKHGJHVUHFRJQLHGLQ´2WKHUFRPSUHKHQVLYHLQFRPH´ - -5 - -5 2016 closing balance 431 461 Parent company Share capital In accordance with the articles of association for AAK AB (publ.), share capital shall be a minimum of SEK 300 million and a maximum of SEK 1.2 billion. All shares are fully paid and entitle the holder to equal voting rights and shares in Company assets. Share capital consists of 42,288,489 shares (42,288,489) at a quota value of SEK 10 per share, and shareholder equity of SEK 422,884,890 (422,884,890). Statutory reserve The statutory reserve refers to a reduction of the share capital carried out previously. Retained profit Retained profit includes non-restricted equity from the previous year after any dividend distribution. This comprises profit for the year and new share issue, total non-restricted equity, i.e. the amount available for dividends to shareholders. Dividend In accordance with the Swedish Companies Act, the Board of Directors proposes payment of a dividend, for the consideration and approval of the Annual General Meeting of the Shareholders. The proposed dividend for payment in 2016 is SEK 370 million (SEK 8.75 per share), which has not yet been considered by the Annual General Meeting. This amount is not recognized as a liability. Proposed appropriation of profits 7KH%RDUGRI'LUHFWRUVDQG&KLHI(HFXWLYH2I¿FHUSURSRVHWKDW 7KHGLVSRVDEOHSUR¿WEURXJKWIRUZDUG SEK 3,834,015,571 DQGSUR¿WORVVIRUWKH\HDU 6(. Total SEK 3,814,884,025 be appropriated as follows: To be distributed to shareholders, a dividend of SEK 8.75 per share SEK 370,024,279 1) To be carried forward SEK 3,444,859,746 Total SEK 3,814,884,025 1) Calculated on the number of outstanding shares as at the balance sheet date.
AAK Annual Report 2016
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