Activities and Figures 2009

Hva engasjerer deg? KI TC HEN Fo to : GettyImages og Frelses armeen bildearkiv Enten du er engasjert i fattigdom, litteratur, urettferdighet, miljøvern, forelskelse, musikk, sport, kommunebudsjetter, Activitiesnaboen, krig, ﬁnanskrisen, andforeldr e, Figuresbarn, sorg, tro, håp eller kjærlighet.2009Fortell det på engasjement.net The Fretex GroupFortell det på engasjement.net Contents: Activities and fıgures 2009 3. Directors’ Annual Report: Activities and fıgures 2009 FRETEX NORGE AS’S OBJECTS ARE: 8. Profit and Loss Account for the Fretex Group, 2009 • to be engaged, via the Fretex companies, in active rehabilitation and qualification of occupationally disabled persons in 9. Balance Sheet for the Fretex Group, as at 31.12.2009 accordance with guidelines prepared by the principals and the authorities empowered to make grants, 10. Fretex Norge AS - Group • to be the owner company of the Fretex companies in Norway that are engaged in recycling and reuse, including 11. Vision, Mission and Values operation of second hand stores as well as other activities that naturally belong under the Salvation Army’s activity area, • to be the owner/partner in other companies with the same objects. The company must carry on its activities in accordance with the basic values of the Salvation Army. The company is owned by the Norwegian Salvation Army and is part of the Salvation Army’s Social Service. The company’s head office is located in Sandnes. The Fretex Group consists of the holding company and the wholly- owned subsidiaries Fretex Øst-Norge AS, Fretex Vest-Norge AS, Fretex Midt-Norge AS and Fretex Nord-Norge AS. Fretex Midt-Norge AS acquired Malvik Produkter AS as at 01.11.2008, Malvik Produkter AS became part of Fretex Midt-Norge AS through a merger as at 01.01.2009. In addition to the group companies, the Fretex Group consists of the jointly controlled export company Fretex International AS. The Fretex Group has an export partnership with the Swedish Salvation Army, which is a co-owner of Fretex International AS with a shareholding of 49%. The Group carried on activities in all the counties of Norway, with the exception of Sogn og Fjordane and Hedmark, in 2009. Fretex has been approved as a labour market enterprise in Oslo, Buskerud, Rogaland, Hordaland, Sør-Trøndelag and Finnmark. The activities have comprised: • 2 paper processing plants. • 4 paper shredding plants. • 12 facilities for sorting and handling of second hand clothes. • 42 stores and 2 warehouse outlets. • 6 Sally Annshop in shop-departments • 2 cafes • Collection of clothes in all the counties of Norway with the exception of Hedmark. • A shoddy factory in Stavanger and an emergency blanket factory in Forsand. • Bakery, joiner’s shop and packing department in Malvik. • 2 Jobbfrukt departments. • 1 laundry. • Department for Job Training in Sheltered Workshop in Oslo, Jessheim, Drammen, Moss, Gol, Lillehammer, Kristiansand, Sandnes, Haugesund, Bergen, Ålesund, Trondheim, Malvik, Bodø, Harstad, Tromsø and Kirkenes. • Organiser of the Supported Employment scheme in Oslo, Drammen, Lillehammer, Bergen, Trondheim, Malvik and Kirkenes. • Organiser of the Permanent Sheltered Employment scheme in Malvik and Trondheim. • Running of art gallery and studio in Bergen. • Training of apprentices in Sandnes, Bergen, Trondheim and Malvik. • Operation of 70 lorries/vans, 5 wheel loaders and 22 trucks. • Operation of canteen in Oslo, Drammen, Sandnes, Trondheim and Malvik. Directors’ Annual Report 3 In 2009 some shops and departments have moved to new locations. Export market for used clothing has been stable all year, and this seems to continue. Stable and high prices are major factors leading to increased competition also in this market, and it will be necessary to enhance Fretex as the first choice for Fretex Norge AS had 9 employees as at the year-end. The Group had 1,503 employees as at the year-end. 431 of these donors. All major sorting facilities for textiles are now renewed, and sorting capacity has increased substantially. Landfill employees were employed on ordinary terms, 237 were employed in vocational qualification and adapted work under the ban for textiles was launched by law in July 2009, but it did not cause major changes for the group’s practices or strategies. Labour Market Enterprise scheme, 28 were employed under the Permanent Sheltered Employment scheme, whereas 807 It has been invested in the development of new collection containers throughout the year, and after a period of reduction in were employed under other labour market schemes. the number of deployed containers, Fretex has made plans for an increased collection of textiles. REPORT ON THE ANNUAL FINANCIAL STATEMENTS There are still many opportunities for increased collaboration between companies within the Fretex group, in addition to development areas in relation to the rest of the owner organization. Fretex Norge AS generated a total turnover of NOK 17,582,579 in 2009, and the financial statements show a profit for the year of NOK 63,598. As at 31.12.2009, the company has total assets of NOK 19,079,519 of which the equity capital constitutes In the spring of 2009 the staff in the holding company was expanded with a new Operational Director og Quality Director, NOK 5,377,965 (28.2 %). and this has increased resources in a number of key areas. There is reason to believe that the holding company model provides a good foundation for success in the future. The Group generated a total consolidated turnover of NOK 398,084,253 in 2009, and the consolidated financial statements for the Group show a profit for the year of NOK 4,571,896. As at 31.12.2009, the Group has total assets of NOK 127,745,702, FINANCIAL RISK of which the equity capital constitutes NOK 60,018,654 (47.0 %). The company’s financial risk is attached to the level of interest rates on the financial markets. The company may draw on The Board of Directors is not aware of any circumstances that are of importance to an assessment of the position of the the Fretex Group’s excess liquid funds within the Group account system. company and the Group that are not disclosed in the profit and loss account and in the balance sheet with accompanying notes. The Group’s financial risk is first and foremost attached to exchange rate fluctuations, but this risk is minimal, as the foreign currency exposure is very low. The Group does not use currency hedging, as this is assumed to be the most profitable REPORT ON THE PROSPECTS FOR THE COMPANY AND THE GROUP choice in the long term. The Group’s liquidity is good. 2009 was a year with a lot of emphasises on the Equass certification. The European Quality in Social Services is a European GOING CONCERN Quality System aiming at gaining and sustaining a certain level of quality in service delivery. Fretex is one of the first service providers to accomplish this certification in Norway. The new Labour and Welfare Administration (NAV) who is the most Based on the company’s situation, the Board of Directors finds that the company meets the conditions for a going concern, significant and important stakeholder and customer for Fretex, has stated that a quality certification will be mandatory and the annual financial statements have consequently been prepared based on a going concern assumption. for social service businesses in the near future. It is therefore a strength to already have this certification. After two years of membership in the European Platform for Rehabilitation (EPR), it is still an asset to be one of the three Norwegian PROFIT FOR THE YEAR AND ALLOCATIONS members in this network of leading providers of vocational rehabilitation services in Europe. The Board of Directors recommends that the profit for the year be allocated as follows: There is reason to believe that, in the years to come, there will continue to be a need for the competence, quality and Carried forward to other reserves: NOK 63,598 experience that the Fretex Group has in assessment, qualification and provision. Throughout 2009 some of the traditionally services has been reduced in some of geographic areas, but it has been replaced by new services. Fretex has won several WORKING ENVIRONMENT tenders, both as a sole provider and in co-operation with other service providers. Some of the tenders have been of a short time span, and in these situations it has been a challenge to have the most suited staff at all time. The company attaches importance to ensuring a good working environment for its employees. In pursuance of the current Acts and Regulations, the company keeps records of the total absence from work due to illness among its employees. The Fretex has in 2009 emphasised consolidation, in addition to development in some areas. Even if the sales in the stores rate of absence from work due to illness was 0.5 % in 2009. were a little less than expected in the last few months of the year, the overall development in sales figures has been positive. There has been an upgrading of many stores into a joint concept. The new Sally Ann shop in shop-departments In the Group, the rate of absence from work due to illness was 10.5 % for employees who are employed on ordinary terms have been a vital contribution to the stores, and are attracting new customer groups. and 14.6 % for employees who are employed on special labour market terms. There is still great interest in environmental issues, second hand and redesign. This is a positive trend for Fretex. At the same time there has been a significant increase in competition in this field in 2009. This makes it necessary to reconsider the current growth strategy, which will have priority in the coming year.

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