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Svenska SpelSvenska Spel

Proposed distribution of profits

A total of SEK 4,780,317,822 in retained earnings including net profit for the year is at the disposal of the Annual General Meeting.

 

Non-restricted equity in the Parent Company

  SEK
Retained earnings 1,108,683
Net profit for the year 4,779,209,139
Total 4,780,317,822
   

The Board of Directors and the CEO propose that the above amount be distributed as follows:

  SEK Bill Expenditure area
To be paid for cultural purposes 124,952 2014/15 17
To be paid to the shareholder 4,762,404,098    
To be carried forward 17,788,772    
Total 4,780,317,822    
       

The payment for cultural purposes corresponded to 1/26 of the Company’s surplus from the new Penninglotten (Government bill: 2014/15:1 UO 17). The contribution is a special destination of the State’s income according to chapter 3, section 6 of the Budget Act (2011:203) and is an annual component of the budget proposition prepared by the Ministry of Culture.

The dividend is scheduled for payment immediately after the minutes from the AGM have been verified. The payments for cultural purposes are made upon requisition.

Statement of the Board on proposed distribution of profits

Statement of the Board of AB Svenska Spel in accordance with Chapter 18 section 4 of the Annual Accounts Act (2005:551) with reference to the Board’s proposed distribution of profits prior to the Company’s AGM on 22 April 2015; the Board has proposed that AB Svenska Spel’s profit available for distribution for the 2014 financial year be distributed in accordance with the motion made to the AGM.

The proposed profit distribution does not affect AB Svenska Spel’s restricted equity as shown in the latest balance sheet. After payment in accordance with the proposed profit distribution, Svenska Spel will have non-restricted equity of SEK 17,788,772 (1,108,683) and total equity of SEK 18,028,772 (1,348,683), not including changes that occurred after the balance-sheet date.

If changes after the balance-sheet date are also included, non-­restricted equity is affected by profit for a period of at least four months before payment of the proposed profit distribution. This means an increase in non-restricted equity of approximately SEK 1.5 billion (1.5).

The Parent Company’s and the Group’s equity ratio and liquidity are considered secure because of the nature of the market in which the Company operates and the strong cash flow it generates. The Parent Company and the Group will thus be able to comfortably meet their short and long-term obligations, even after the proposed profit distribution.

Even taking into account the proposed distribution of profits, the Parent Company and the Group will be able to make the necessary investments required for the Parent Company’s and the Group’s development and continued success.

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