Proposed distribution of profits

A total of SEK 4,806,101,364 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  17,788,772
Gain from merger 1,732,010
Net profit for the year  4,786,580,582
Total 4,806,101,364


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 118,238 2015/16 17
To be paid to the shareholder 4,803,014,563    
To be carried forward 2,968,563    
Total 4,806,101,364    
       

The payment for cultural purposes corresponded to 1/26 of the Company’s surplus from the Nya Penninglotten (Government bill: 2015/16:1 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 26 April 2016; the Board has proposed that AB Svenska Spel’s profit available for distribution for the 2015 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 2,968,563 (17,788,772) and total equity of SEK 3,208,563 (18,028,772), 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.