DOCSLIB.ORG

Annual Report 2014

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2014 Annual Report 2014 NCSC Board April 2015 NCSC mission statement and basis for work NCSC is the most professional, engaged and involved association within the shopping center industry in the Nordic countries, including all shopping formats, all locations and all professions, directly or indirectly engaged in shopping centers. NCSC is the best network in the industry, has a high visibility and creates the best activities. The purpose of NCSC is to advance the shopping center industry and to promote its role in relation to other industries and to the society. In 2010 a Business plan was adopted, stating the activities necessary to achieve the mission. This business plan has been the steering document for the work within NCSC since then. Membership at yearend Country Companies Companies Companies People 2013 People People 2015 2013 2014 2015 yearend 2014 April 1 yearend yearend April 1 yearend Sweden 228 190 200 598 582 608 Norway 111 106 109 345 361 367 Denmark 44 44 46 97 89 95 Finland 24 24 25 68 65 93 Others 4 4 5 18 15 23 Total 411 368 385 1126 1112 1186 Revenues NCSC has three sources of revenues, being membership fees, sponsorships and surplus from events. The prices of membership were slightly increased 2014 (over a number of years membership fees were stable, not following general cost increases). Sponsorships have grown substantially during the year. On behalf of the members the board wants to express a deeply felt gratitude towards the sponsors for their support, and to the management for its diligent work to achieve it. Events are supposed to cover its costs plus a profit. Certain events are arranged, and mostly paid, by member-companies. The board is very thankful for this. For the coming years the board hopes for, and indeed counts on a continuation and increase in both sponsorships and events arranged by member-companies. Nordic Council of Shopping Centers – Annual Report 2014 1 Staff NCSC as an organization would not function without the engaged individuals being its personnel. The members and the board is dependent on the staff, carrying out management, administration, marketing, project-leading and all other daily chores, which makes it possible for NCSC to be a relevant organization for our industry. The members and the board are very grateful for the good, engaged and diligent work done by the staff. During 2014 the following persons have been employed: • Marika Waern Managing Director Stockholm office • Annika Olsson Marketing Manager Nordics Stockholm office • Christine Lampe Marketing Manager Norway Oslo office • Staff of ICP / Per Nyborg Administrative support Denmark office, pro bono • Tina Korpi Project leader AGM 2015 Helsinki office, project engagement • Ebba Stålhem Administrative support Stockholm office, project engagement • Matilda Bergenudd Administrative support Stockholm office, project engagement 2014 Board, Nomination committee and Auditors President / chairman of the board • Wilner Anderson Board Denmark • Per Nyborg Thomsen Country chair • Marianne Karlsen • Charlotte Sager • Claus Tüchsen • Torben Andersen deputy • Finn Sture Madsen deputy Board Finland • Tuire Nyberg Country chair • Mika Ohenoja • Pia Rosvall • Lasse Yrjänä • Jaakko Ristola deputy • Heli Vainio deputy Board Norway • Rolf O Svendsen Country chair • Line Victoria Bergh • Trond Herberg • Michael Rask • Lise Lind deputy • Jan Erik Løver deputy Nordic Council of Shopping Centers – Annual Report 2014 2 Board Sweden • Peter Hallberg Country chair • Wilner Anderson • Evalena Engström • Bernt-Olof Gustavsson • Martin Lindgren deputy • Lisen Pettersson deputy Nomination committee • Ulf Attebrant Sweden Chair • Torben Andersen Denmark • Lise Lind Norway • Kaisa Vuorio Finland Auditors • Carl-Johan Kjellman external, BDO Stockholm • Christer Carlson internal, Establishment Triumph During 2014 the following meetings have been carried out: • Full Board (16 members) 2 meetings • Executive Board (5 members) 5+ (additional to FB + additional phone-meetings) • Country Board Denmark 5 • Country Board Finland 6 • Country Board Norway 5 • Country Board Sweden 5 • Nomination committee 2 (+ additional phone-meetings) Networking One of the main purposes of NCSC is to be a platform for making contacts and growing your professional network. Regardless of the stated theme or purpose of a specific event, the networking is always an explicit or implicit goal. The main events during 2014 have been: Nordic • Annual General meeting Oslo May • Retail Connections, Nordic Pavilion London, March • MAPIC show, Nordic Pavilion Cannes, November (incl. cocktails & dinner) Denmark • Retail Arena Copenhagen, September Norway • Shopping center conference October (Kjøpesenterkonferansen) Oslo/Gardermoen • Members seminar Oslo, February • 4 Breakfast meetings OHF Oslo • 2 «Industry coffee» Bergen and Oslo Nordic Council of Shopping Centers – Annual Report 2014 3 Sweden • Retail Arena Göteborg Gothenburg, September • Breakfast at NK Stockholm, September • Property refinement & the “digiphysical” consumer Stockholm, September • Shopping centers & Shops / NCSC Sweden Awards Stockholm, October • After Work Urban Escape at AMF Stockholm, November Young professionals/ Next generation The importance of young, skilled and ambitious individuals joining our industry cannot be overstated. As a distinct Nordic initiative, connected and integrated to the wider framework of ICSC Next Generation program, the Young Professionals program has started. The aim is to create specific possibilities for younger talents and professionals to connect, learn and widen their networks, all for the benefit of their companies, themselves and the industry at large. The board is very grateful to Lotta Lehtonen, Asset manager at CBRE Global Investors, for her dedication to run this initiative and project. Study tours and -visits To study different retail establishments, shopping centers, gallerias, shops, concepts, whether new, extended, changed or interesting for some other reason, is traditionally an activity arranged by NCSC, both inside the Nordic countries and outside them. During 2014 the following study tours have been made: • Nordic / Dubai December • Norway / Germany-Dusseldorf March Apart from travelling abroad the following study visits were made: • DK / Fisketorvet Copenhagen Mall • DK / Frederiksberg Centret • DK / Copenhagen Designer Outlet • DK / MASH • NO / Fornebu Senter og Oslo Lufthavn • SE / Ikano Retail Centres Kungens Kurva, Stockholm • SE / Mall of Scandinavia, Stockholm Awards As recognition of outstanding performance the awards “Shopping center of the year” is given within each country, and among the country-winners the “Nordic shopping center of the year” is chosen. The jury-work behind the awards is quite extensive, the board is very thankful for the travels, judgments and all other work being carried out by the jury. During 2013 the following shopping centers were the country-winners, leading to nomination for the Nordic Shopping Center Award 2014: • Denmark Metropol • Finland Veturi • Norway Gulskogen • Sweden Erikslund and the Nordic Award was given to Gulskogen, Norway. Nordic Council of Shopping Centers – Annual Report 2014 4 The Nordic jury had the following members: Lars Wester, Chair, Architect, Sweden Jesper Andreasen, Rödövre Centrum Real Estate, Denmark Olof Fredman, Expansion manager MQ Retail, Sweden Odd Gisholt, Dr Oecon Retail, BI Norwegian Business School, Norway Pertti Hakamäki Architect, Finland In order to have as fair a comparison as possible, the criteria and the methods of evaluation have been made more similar over the last years, but there are still some issues to be adjusted. Work continues. Education To run an educational program is a long tradition within NCSC. Over the years a number of professionals within our industry and members of NCSC have been through the courses with the general purpose of becoming better at shopping center management. During the last two years NCSC has formed a joint program together with four educational institutions, KTH the Royal Institute of Technology in Stockholm, the Aalto University in Helsinki, BI the Norwegian Business School in Oslo and the Copenhagen Business School in Copenhagen. This kind of cooperation between four institutions across boarders is unique. The success of the program rests very much on the continuous engagement and joint efforts from these four schools, the dedicated involvement of the teachers and the willingness from all to keep it together and running. The board does really appreciate the work done, and is deeply grateful. This program gives its participants the possibility to earn up to 20 academic credit points. About 20 participants each year have been through this new program. Market research and analysis, Information distribution For quite some time it has been the ambition to create a Nordic-wide database with relevant facts for all shopping centers in the four countries. This is now taking shape through cooperation agreements between NCSC, HUI Research, Datscha and local suppliers within Denmark, Finland and Norway. Another objective is to once a year, or every second year, deliver a report with a topic, relevant both for the industry and others with an interest in retail, shopping, real estate and connected issues. This year it will be a study of, broadly described, “How a retailer can succeed in each of the Nordic countries”. The study is to be presented in October in each country. As the report is sponsored by ICSC the Board wants to express its thankfulness for this. In
Load more

Recommended publications
  • Sustainability Report 2020 2 | Ikano Bank AB (Publ) Sustainability Report 2020 Financial Environmental Social
    Sustainability report 2020 2 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social Our owners’ view on sustainability: Content Management statement 3 Ikano Bank at a glance 4 Business model 5 ’’Sustainability is a journey. Governance 6 Sustainability direction 7 We can’t wait for one big Principles and SDGs 8 solution, we have to take Materiality analysis 9 Healthy & sustainable living many small decisive steps.” Financial stability 11 Peter, Jonas and Mathias Kamprad Counteract corruption and money laundering 12 Responsible lending 13 Responsible investments 14 Circular & climate positive Environmentally beneficial financing solutions 16 Climate smart business 17 Sustainable purchases 19 Fair & inclusive Equality and diversity 21 Employee development, health and safety 22 Social responsibility 23 Overview 24 Please consider the environment before printing this report. The document is optimised for full-screen viewing. Auditor’s sign off 25 3 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social A long-term business perspective Making Ikano Bank a truly What does the word We often say that sustainability sustainable company starts in sustainability mean to you? is in our DNA as a company. What do we mean by that? the management team. We met Jessica: For me it’s all about using our up with CEO Henrik Eklund and resources wisely and to always have a Henrik: It dates all the way back to our chief commercial officer Jessi- long-term perspective on everything we founder Ingvar Kamprad. His philosophy do. Both on how we use our planet’s re- was truly sustainable, both in not being ca Svantesson in the Swedish sources and how we create a sustainable wasteful with resources and in relating to woods north of Malmö, to talk and long-term business.
    [Show full text]
  • Facts & Figures 2013
    Operational organisation Facts & figures Arja Taaveniku Mats Håkansson Yohann Adolphe CEO Vice President CFO 2013 Stefan Nyrinder Tomas Wittbjer Daniel Skoghäll Christian Rojkjaer BA Finance BA Insurance BA Real Estate BA Retail Asia Christiane Wald Fredrik Åkesson Marie Gällstad Group HR Group Group Sustainability Communication Supervisory Board Peter Kamprad Jonas Kamprad Mathias Kamprad Björn Bayley Chairman Board Member Board Member Board Member Eva Cederbalk Jens Engwall Per Karlsson Håkan Thylén Board Member Board Member Board Member Board Member Management Board Arja Taaveniku Mats Håkansson Yohann Adophe CEO Vice President CFO www.ikanogroup.com Produced in May 2014 by the Communication department of Ikano S.A. The print costs of this brochure were EUR 0,37 per copy. 5000 copies were printed. Our vision Hi, “We are a growing company with 3,500 co-workers who work together to create value for our customers. We believe that what is good for our customers is good for us in the long run – and this is our primary focus in everything we do. Our strong company culture is founded on our heritage and our Swedish roots. Our values guide us in our everyday decisions. We like to do things differently from others, keeping our solutions simple and always based on fair terms. We are financially strong and this is essential for our future growth. We like to invest but only in things that add value. I am proud to share our good results from 2013. They show that we have many hard working Ikano co-workers who have To create successfully reached out to many customers.” Arja Taaveniku possibilities CEO, Ikano Group for better living.
    [Show full text]
  • Our Year FY18 ANNUAL REPORT
    Our Year FY18 ANNUAL REPORT IKEA Southeast Asia 01 | We are IKEA Southeast Asia & Mexico Our Year | 02 Creating a Better Everyday Life We are IKEA Southeast Asia & Mexico IKEA is the world’s largest home furnishing retailer, and we are one among a dozen IKEA franchisees - part of the Ikano Group of companies and the only franchisee owned by the Kamprad family that founded IKEA. We own and operate IKEA stores in Singapore, Malaysia and Thailand, offering millions of people a wide range of well-designed, functional home furnishing products at affordable prices. We also develop, own and operate shopping centres anchored by IKEA, and create vibrant destinations by investing in residential, office and other types of real estate. Our multi-national team has ambitious projects in the pipeline, including plans to bring IKEA to the Philippines, Vietnam and Mexico. We share a unifying vision: to create a better everyday life for the many people. We bring this vision to life in the home furnishings we offer, the workplace culture we develop, the relationships we build in our communities and the way we care for the environment. 03 | We are IKEA Southeast Asia & Mexico Our Year | 04 Content IKEA Southeast Asia & Mexico 01 Creating a Better Everyday Life 05 Message from Our Management Team 07 IKEA 75! 09 FY18 Business Map 11 Our Year in Numbers IKEA Stores 13 Make Room for Life 15 2018 Products We Love 17 A Blue Box Unlike Any Other 19 Ecommerce Brings IKEA to Malaysian Borneo 21 How Are We Doing? 23 Sustainable Everyday Business 25 A Better Life for the Many People Ikano Centres 27 Redefining Retail 29 IPC Launches Revamped Centre 31 Megabangna & MyTOWN Our Expansion 33 Reaching More People 35 Under Construction Our People 37 Great Place to Work 39 Positive Impacts 41 Great People, Great Year! 05 | We are IKEA Southeast Asia & Mexico Our Year | 06 Message from our Management Team Our IKEA big-blue-box concept was Our Ikano Centres took big steps born in an era when free parking last year to become meeting places was a sure ticket to business for the many.
    [Show full text]
  • How to Make It Your Company's Competitive Edge?
    Ecosystems, business models and servitisation JARI RAAPPANA HOW TO MAKE IT YOUR COMPANY’S COMPETITIVE EDGE? Ikano Bank was established in 1988 by Ingvar Kamprad, the founder of IKEA. Ikano Bank currently has operations in Austria, Demark, Finland, Germany, Norway, Poland, Sweden and UK. For consumers the offering includes a range of financial services and banking products such as loans, savings and credit cards. For businesses the offering includes a range of financial services for their customers, including loans, store cards and loyalty solutions. The strength of Ikano bank comes from working together to create long-term solutions based on fair terms that bring value to its customers and partners alike. 178 Ikano Bank IT is being shaped by shifting market conditions, new regulations, and changes in con- sumer demands and behaviours. For the past decade, fintech companies—technol- ogy firms that focus on financial products and services—have moved quickly, forcing the more traditional banks to rethink their core business models and embrace digital innovations. While the more traditional banking industry will undoubtedly remain as its customer base is solid, change is imminent, affecting banks like Ikano Bank well into the future. Instead of working as a separate business support function, Ikano Bank IT have had to reimagine how their IT operations deliver a more distinctive Mikael Nurmi, customer experience by mastering the use of state CTO, Ikano Bank of the art technologies in order to build competi- tive edge for the bank. The change journey for IT started in summer 2016 “The first step is to build more value and with a newly developed sourcing strategy imple- provide compelling customer experiences mentation, with targets on acquiring the best fit for at a lower cost.
    [Show full text]
  • Sustainability Report 2020 2 | Ikano Bank AB (Publ) Sustainability Report 2020 Financial Environmental Social
    Sustainability report 2020 2 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social Our owners’ view on sustainability: Content Management statement 3 Ikano Bank at a glance 4 Business model 5 ’’Sustainability is a journey. Governance 6 Sustainability direction 7 We can’t wait for one big Principles and SDGs 8 solution, we have to take Materiality analysis 9 Healthy & sustainable living many small decisive steps.” Financial stability 11 Peter, Jonas and Mathias Kamprad Counteract corruption and money laundering 12 Responsible lending 13 Responsible investments 14 Circular & climate positive Environmentally beneficial financing solutions 16 Climate smart business 17 Sustainable purchases 19 Fair & inclusive Equality and diversity 21 Employee development, health and safety 22 Social responsibility 23 Overview 24 Please consider the environment before printing this report. The document is optimized for full-screen viewing. Auditor’s sign off 25 3 | Ikano Bank AB (publ) Sustainability report 2020 Financial Environmental Social A long-term business perspective Making Ikano Bank a truly What does the word We often say that sustainability sustainable company starts in sustainability mean to you? is in our DNA as a company. What do we mean by that? the management team. We met Jessica: For me it’s all about using our up with CEO Henrik Eklund and resources wisely and always have a long- Henrik: It dates all the way back to our chief commercial officer Jessi- term perspective on everything we do. founder Ingvar Kamprad. His philosophy Both on how we use our planet’s resources was truly sustainable, both in not being ca Svantesson in the Swedish and how we create a sustainable and wasteful with resources and relating to woods north of Malmö to talk long-term business.
    [Show full text]
  • IKEA Sustainability Report FY19
    © Inter IKEA Systems B.V. 2020 © Inter IKEA Systems B.V. IKEA Sustainability Report FY19 INTRODUCTION | ABOUT THIS REPORT | BECOMING PEOPLE & PLANET POSITIVE: PROGRESS FY19 | OUR IMPACT THROUGHOUT THE IKEA VALUE CHAIN | COLLABORATION & ADVOCACY | SUSTAINABILITY GOVERNANCE | SDG INDEX In this report INTRODUCTION Page 3 About this report This is an IKEA Brand report and it covers the entire IKEA The IKEA business FY19 Page 3 business and value chain. It summarises the performance Sustainability highlights FY19 Page 4 against the IKEA sustainability strategy, People & Sustainability challenges Page 5 Planet Positive, during FY19 and includes information from across the franchise system and the different ABOUT THIS REPORT Page 6 companies operating under the IKEA Brand. The FY19 IKEA Materiality Page 7 Sustainability Report is issued by Inter IKEA Group. The One brand – many companies Page 8 report is structured as follows: Introduction letter Page 9 BECOMING PEOPLE & PLANET POSITIVE: PROGRESS FY19 Page 11 Section one Healthy & sustainable living Page 13 Summarises key progress during FY19 against the Circular and climate positive Page 17 commitments in the IKEA sustainability strategy. Fair & equal Page 34 OUR IMPACT THROUGHOUT THE IKEA VALUE CHAIN Page 37 Section two Materials & sourcing Page 38 Production Page 63 Takes a complete value chain perspective – from Product transport Page 75 materials to product end-of-life – to demonstrate how IKEA retail Page 78 the IKEA business works at all steps of the value- Customer travel & home deliveries Page 88 chain (and even beyond) to reach our sustainability Life at home & consumption Page 91 ambitions. This section includes more details and activities during FY19.
    [Show full text]
  • Ikea: Flat Pack Tax Avoidance TAAKSTAAKS AVOYD AVOYD
    ikea: flat pack tax avoidance TAAKSTAAKS AVOYD AVOYD TAX DEPT CREDITS AUTHOR : Marc Auerbach A study commissioned by the Greens/EFA Group in the European Parliament Graphics and design : Capucine Simon [email protected] Cover and illustration : admk - Agency for design and multimedia concepts, Cologne, Germany - www.admk.de www.greens-efa.eu @GreensEP www.facebook.com/greensefa/ 2 Greens/EFA Group - Flat pack tax avoidance contents EXECUTIVE SUMMARY – p 5 I - INTRODUCTION – p 6 II – IKEA : A FLAT PACK STRUCTURE ? – p 7 III – THE SECRETIVE DUTCH FOUNDATION THAT OWNS THE IKEA GROUP – p 10 IV – THE SECRETIVE LIECHTENSTEIN FOUNDATION THAT OWNS THE INTER IKEA GROUP – p 12 V – HOW IKEA IS AVOIDING TAXES THROUGH THE NETHERLANDS – p 15 Part 1 - set up a subsidiary in the Netherlands – p 15 Part 2 - send billions in tax-deductible royalties to your Dutch subsidiary – p 15 Part 3 - move royalties from the Netherlands to Liechtenstein to remain untaxed – p 17 VI - FROM BELGIUM TO LUXEMBOURG: USING TAX LOOPHOLES AFTER TAX LOOPHOLES – p 21 Coordination centres in Belgium – p 21 Ruling in Luxembourg for Inter IKEA – p 21 Notional Interest Deduction in Belgium for IKEA Group – p 22 VII – CONCLUSION AND RECOMMENDATIONS – p 25 ANNEXES – p 28 3 TAX DEPT IKEA TAX AVOIDANCE SCHEME < 300 x Stores 2 x Secret foundations 4 x Tax havens LIECHTENSTEIN (One in NL one in LIE) (NL, LIE, BE, LU) 1 x Friendly NL tax handling 1 x Sweetheart deal with Luxembourg Ikea Group subsidiaries (and other franchisees) reduce their profits by paying a 1. 3% royalty fee, going to the Netherlands.
    [Show full text]
  • Ikea: Past, Present and Future
    IMD-4-0282 I N T E R N A T I O N A L 18.06.2008 IKEA: PAST, PRESENT AND FUTURE Research Associate Colleen Ingvar Kamprad’s early experiences informed his approach not Lief prepared this case under only to furniture retailing but also, more broadly, to his life. In the supervision of Professor the frugal farmlands of southern Sweden, IKEA’s founder Daniel Denison as a basis for quickly learned the value of hard work, personal responsibility class discussion rather than to and independence. illustrate either effective or ineffective handling of a As his own success in following his strong convictions proved business situation fruitful and satisfying, he realized he had a responsibility to share this journey with his customers, suppliers and employees – in essence, to “bring a little bit of Sweden to the world.” This phrase, from Kamprad’s 1976 manifesto, A Testament of a Furniture Dealer, captured his philosophy toward business. His company did not just produce profits but rather served a larger and higher purpose in society. It brought style, value and a better life to many. IKEA’s products were not destined only for wealthy customers who could afford distinctive and contemporary furnishings. They were intended for everyone. The idea was radical. Everyone deserved the opportunity to be part of the IKEA revolution, which embodied bold fashion and functionality. It seemed almost a sacred mission to IKEA’s people to bring this message to global consumers. But how would IKEA develop around the globe with decidedly different values and traditions in each of the new markets that it entered? IKEA had to stay IKEA.
    [Show full text]
  • Year-End Report 2014-12
    Year-end report 2014-12 Results for the full year 2014 • Business volume increased by 7 percent to bnSEK 41.8 (38.9). • Lending, including leasing, increased by 11 percent to bnSEK 22.0 (19.8). • Deposits increased by 7 percent to bnSEK 15.1 (14.1). • Operating result increased 3 percent to mSEK 447 (433). • Net interest income increased by 17 percent to bnSEK 1.3 (1.1). • Return on equity fell to 11.3 percent (12.8), mainly due to higher equity. • Common equity tier 1 ratio according to Basel III totalled 15.1 percent (2013, 14.0 according to Basel II) and the total capital ratio according to Basel III was 17.8 percent (16.7). • Liquidity reserves totalled bnSEK 2.6 and the total liquidity portfolio totalled bnSEK 3.3. Results for the second half-year 2014 • Operating result increased 3 percent to mSEK 201 (196). • Net interest income increased by 9 percent to mSEK 645 (592). • Return on equity fell to 10.1 percent (14.9), mainly due to higher equity. Outlook for 2015: Our outlook for 2015 is positive. Growth within Consumer and Sales Finance is expected to increase gradually. Within Corporate, we anticipate continued strong growth. The cost will also be affected in 2015 by investments in increased competitiveness and customer value. Jul-Dec Jul-Dec 31 Dec 31 Dec Key ratios 2014 2013 2014 2013 Total Capital ratio 17.8% 16.7% 17.8% 16.7% Common equity Tier 1 ratio 15.1% 14.0% 15.1% 14.0% Investment margin 5.2% 5.4% 5.1% 4.9% Return on adjusted equity 10.1% 14.9% 11.3% 12.8% Leverage ratio 10,4% - 10.4% - C/I-ratio before loan losses 65.6% 63.3% 64.4% 61.9% Loan loss ratio 1.5% 1.8% 1.5% 1.7% This is information that Ikano Bank AB (publ) is required to disclose in accordance with the Securities Market Act.
    [Show full text]
  • Ikano Bank AB (Publ) Interim Report 30 June 2020
    Interim Report 2020-06 IKANO BANK AB (publ), corporate ID no. 516406-0922 Ikano Bank AB (publ) Interim Report 30 June 2020 Results for the first half-year 2020 (comparative figures in brackets are as of 30 June 2019 unless otherwise stated) • Business volume amounted to SEK 61,584 m (63,622). • Lending, including leasing, amounted to SEK 35,534 m (37,369) • Deposits from the public amounted to SEK 26,050 m (26,253) • Operating result before loan losses amounted to SEK 387 m (431) • Net interest income amounted to SEK 936 m (971) • The common equity Tier 1 capital ratio was 17.1 percent (15.3) and the total capital ratio was 19.6 percent (17.6) • The liquidity reserve increased to SEK 2,788 m (2,352) and the total liquidity portfolio amounted to SEK 5,617 m (5,463) • Loan losses amounted to SEK 468 m (332) Outlook for the remainder of 2020 The Covid-19 pandemic has struck the world and naturally also affects our operations. Short term we see a decrease in revenues and increase in provisions for possible future loan losses as a direct consequence of the pandemic. Ikano Bank has a strong financial position with good margins regarding liquidity and capital. Looking forward we also see great effects of the improvement work that is ongoing through our comprehensive transformation journey which has been further accelerated due to Covid-19. With new digital solutions and better customer experience, committed co-workers, an updated strategy, and a customer promise On fair terms we see good business opportunities in the future.
    [Show full text]
  • FACTS and FIGURES 2007 L-2740 Luxembourg L-2740 Luxembourg London E1 5 LP, United Kingdom (P.O
    IKANO GROUP FINANCE REAL ESTATE IKANO S.A. IKANO Finance Management AB IKANO Real Estate AB 1, rue Nicolas Welter Scheelevägen 19 A Sölvegatan 41 L-2740 Luxembourg SE-223 70 Lund, Sweden SE-223 70 Lund, Sweden (P.O. Box 229, L-2012 Luxembourg) Tel +46 (0)46 286 36 50 Tel +46 (0)46 286 47 30 Tel +352 26 44 22 Fax +46 (0)46 286 47 31 Fax +46 (0)46 286 47 31 Fax +352 26 44 22 100 ASSET MANAGEMENT INSURANCE RETAIL IKANO Fund Management S.A. IKANO Re S.A. HABITAT 1, rue Nicolas Welter 1, rue Nicolas Welter 42-46 Princelet Street 1234IKANO Group FACTS AND FIGURES 2007 L-2740 Luxembourg L-2740 Luxembourg London E1 5 LP, United Kingdom (P.O. Box 229, L-2012 Luxembourg) (P.O. Box 229, L-2012 Luxembourg) Tel +44 207 614 5500 Tel +352 26 44 22 Tel +352 26 44 22 Fax +44 207 411 5209 Fax +352 26 44 22 100 Fax +352 26 44 22 400 www.habitat.net www.ikanofm.lu IKANO Pte Ltd. 60 Tampines North Drive 2 Singapore 528764, Singapore Tel +65 6786 6868 Fax +65 6260 0913 www.ikea.com.sg IKANO www.ikanogroup.com 6789 IKANO Group 2007 BUSINESS AREA FINANCE (excl PLUS Finanzservice and Russia) BUSINESS AREA ASSET MANAGEMENT BUSINESS AREA RETAIL ASIA Employees by business area Business volume approximately 2.5 billion Euro Market value of IKANO Funds: 4,6 billion Euro Turnover 181 million Euro Head Office 31 BA Finance 675 Credit Bonds cards Bank Large BA Real Estate 163 Deposits 17% 21% Cap 25% BA Asset Management 29 Equities Malaysia Cash 9.6% 31.8% 38% BA Insurance 28 Bank Others 4% lending BA Retail Asia 1078 Emerging Market Equities 6% Singapore 17% 62% Mediated
    [Show full text]
  • Casestudy: IKEA FAMILY: OLD ENOUGH to WORK? Socialist Party
    Casestudy: IKEA FAMILY: OLD ENOUGH TO WORK? Socialist Party (SP) versus IKEA At the end of 1998, furniture giant Ikea became the target of protest campaigns throughout Europe. The campaign in the Netherlands was led by the political Socialist Party (SP) and a number of NGOs. The actions against and pressure on Ikea were prompted by a television documentary on working conditions at Indian factories that manufactured clothing, chairs and rugs for Ikea which made allegations of child labour and unsafe working conditions. The SP and other societal organisations demanded that Ikea adopt, comply with and monitor a code which addresses child labour and unacceptable working conditions at the factories of suppliers. Societal Interface Management Challenges PUBLIC - PRIVATE PROFIT - EFFICIENCY ETHICS/EQUITY NON-PROFIT Is the eradication of Unlisted company Affordable Working conditions child labour the and business furniture for (child labour and responsibility of the community consumers at hazardous substances) Indian government? involvement: lower end of consumers and/or market Education and training Observing international suppliers? policy of company? conventions (ILO) and High margins on cooperating with Family atmosphere goods purchased Low prices at all costs? organisations? in a family from suppliers business? The issue of cultural Quality mark/not? Owns most of relativism/universalism Inadequate regulations the franchises . Would you find it in host countries? acceptable if your child/member of your ‘family’ had to work - and under such conditions? This case has been written by Alex van der Zwart with Rob van Tulder (RSM Erasmus University). This case applies the methods and theories as used in the book "International business-society management: linking corporate responsibility and globalization" (2006, Routledge), www.ib-sm.org.
    [Show full text]