Refers to equity contributed by shareholders.
| Group | ||
|---|---|---|
| Reserves 1) | 2017/2018 | 2016/2017 |
| Foreign currency translation reserve | ||
| Opening translation reserve | -25 | -76 |
| Translation effect for the year | 112 | 51 |
| Closing translation reserve | 87 | -25 |
| Hedging reserve 2) | ||
| Opening hedging reserve | 0 | -1 |
| Revaluations recognised via other comprehensive income | 0 | 1 |
| Recognised in profit or loss upon disposal (other operating income/expenses) | 0 | 0 |
| Taxes attributable to the year’s revaluations | 0 | 0 |
| Taxes attributable to disposals | 0 | 0 |
| Closing hedging reserve | 0 | 0 |
| Total reserves | 87 | -25 |
| 1) Refers to reserves attributable to equity holders of the Parent Company. | ||
| 2) Relates to cash flow hedges, consisting of currency clauses in customer contacts. | ||
The translation reserve includes all exchange differences that arise in translating financial reports of foreign operations prepared in a currency other than the Group's presentation currency for financial reports. The Parent Company and Group present their financial reports in Swedish kronor (SEK).
The hedging reserve includes the effective portion of the accumulated net change in fair value for a cash-flow hedging instrument attributable to hedge transactions that have not yet occurred.
Retained earnings including profit for the year include earnings in the Parent Company and its subsidiaries. Prior provisions to the legal reserve are included in this equity item.
Repurchased shares includes the acquisition cost of own shares held in treasury by the Parent Company (known as treasury shares). At the end of the reporting period, the Group's holding of treasury shares was 1,206,145 (1,374,721).
After the reporting period, the Board of Directors proposed a dividend of SEK 4.00 per share. The dividend is subject to approval by the Annual General Meeting on 30 August 2018.
| Proposed allocation of earnings 2017/2018 | |
|---|---|
| Retained earnings | 491 SEKm |
| Profit for the year | 181 SEKm |
| 672 SEKm | |
| The Board of Directors and the CEO propose that the funds available for distribution be allocated as follows: | |
| A dividend paid to shareholders of SEK 4.00 per share 1) | 268 SEKm |
| To be carried forward | 404 SEKm |
| 672 SEKm | |
| 1) Based on the number of shares outstanding at 31 May 2018. The total dividend payout may change if the number of treasury shares repurchased changes prior to the proposed dividend record date of 3 September 2018. | |
Restricted reserves are funds that cannot be paid out as dividends.
The purpose of the statutory reserve is to save a portion of net profit that will not be used to cover a loss carried forward.
Retained earnings comprises the previous year's unrestricted equity, less any provision to the statutory reserve and less any dividend paid. Together with profit for the year and any fair value reserve, retained earnings constitute the sum of unrestricted equity, that is, the amount available to be paid as dividends to shareholders.
The number of shares at 31 March 2018 consisted of 3,229,500 Class A shares, entitling the holders to 10 votes per share, and 64,968,996 Class B shares, entitling the holders to one vote per share. The quotient value of the share is SEK 0.75. The Company has repurchased 1,206,145 Class B shares, in the framework of the Company's ongoing repurchase programme. After subtracting repurchased shares, the number of Class B shares is 63,762,851.
| Number of shares outstanding 2018-03-31 | Class A shares | Class B shares | All share classes |
|---|---|---|---|
| At start of year | 3,237,564 | 63,586,211 | 66,823,775 |
| Exercised call options | – | 368,576 | 368,576 |
| Repurchase of treasury shares | – | -200,000 | -200,000 |
| Conversion of Class A shares to Class B shares | -8,064 | 8,064 | – |
| At year-end | 3,229,500 | 63,762,851 | 66,992,351 |
| Number of shares outstanding 2017-03-31 | Class A shares | Class B shares | All share classes |
| At start of year | 3,237,672 | 63,720,824 | 66,958,496 |
| Exercised call options | – | 165,279 | 165,279 |
| Repurchase of treasury shares | – | -300,000 | -300,000 |
| Conversion of Class A shares to Class B shares | -108 | 108 | – |
| At year-end | 3,237,564 | 63,586,211 | 66,823,775 |