114• PARENTCOMPANY FINANCIAL STATEMENTS
PANDORAANNUAL REPORT2014
NET FINANCIALS
4.1
4.3
5.1
4.2
NOTES FOR THE
PARENT COMPANY
Finance income
DKKmillion
2014
2013
Finance income from loans and receivablesmeasured at amortised cost:
Interest income from subsidiaries
49
41
Foreign exchange gains
9
425
Total finance income
58
466
Finance costs
DKKmillion
2014
2013
Finance costs fromfinancial assets and liabilities at fair value through the income statement:
Fair value adjustments, financial instruments
50
-
Total finance costs fromfinancial instruments
50
-
Finance costs from financial liabilitiesmeasured at amortised cost:
Foreign exchange losses
83
303
Interest on loans and borrowings
7
1
Other finance costs
63
21
Total finance costs from loans and borrowings
153
325
Total finance costs
203
325
CONTINGENT LIABILITIES
Contingent liabilities
PANDORAA/S is a party to a number of minor legal
proceedings, which are not expected to affect future
earnings.
PANDORAA/S has issued letters of support and letters
of guarantee in favour of creditors of certain subsidiaries.
TheCompany is jointly taxedwithDanish subsidiaries.
TheCompany is jointly and severally liablewith other
jointly taxedDanish companieswithin theGroup for
income tax andwithholding taxes due on or after 1 July
2012 in the joint taxation.
On behalf of PANDORAA/S, a bank guarantee of EUR
37million has been provided.
Contractual obligations
PANDORAA/S is a party to a number of long-term
purchase, sales and supply contracts entered into in the
course of theCompany’s ordinary business. In addition
to the lease commitments disclosedbelow, contractual
obligations amount toDKK206million (2013: DKK 72
million). Apart from the liabilities already recognised in the
balance sheet, theCompany does not expect to incur any
significant financial losses as a result of these contracts.
Other obligations
PANDORAA/S’s other financial obligationsmainly relate to
leases for office premises and operating equipment.
FINANCIAL INSTRUMENTS
Reference ismade tonote 4.5 to the consolidatedfinancial
statements.
SHARECAPITAL
Reference ismade tonote 4.1 to the consolidatedfinancial
statements.
