Accounting principles
From Ratos year-end report 2020
Ratos’s consolidated financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and associated interpretations (IFRIC), as endorsed by the EU. This interim report was prepared in accordance with IAS 34, Interim Financial Reporting, and applicable provisions in the Swedish Annual Accounts Act. The parent company also applies RFR 2 Accounting for Legal Entities. Reporting and measurement principles are unchanged compared with those applied in Ratos’s 2019 Annual Report. The new and revised IFRS standards which came into force in 2020 have not had any material effect on the Ratos Group’s financial statements.
Amounts are presented in SEK million (SEKm) unless otherwise stated. Rounding may apply in tables and calculations, which means that the stipulated total amounts are not always an exact amount of the rounded amounts.
As of 31 December 2020, Ratos reports its holdings in Bisnode as a discontinued operation, since Ratos signed an agreement pertaining to the sale to Dun & Bradstreet in October. The sale was completed in January 2021. In accordance with IFRS 5 Non-current Assets Held for Sale and Discontinued Operations, Bisnode’s profit after tax is reported on a separate row in the income statement for 2020 and the comparative period 2019. In the statement of financial position, Bisnode’s assets and related liabilities are reported on separate rows for 2020. The comparative period has not been restated.
Alternative performance measures*
To facilitate comparison between periods and enable follow-up of ongoing earnings and development in the company portfolio, Ratos presents some financial information, which is not defined in IFRS. Related information contains a description of these key ratios as well as a reconciliation / bridge between alternative key ratios used in Ratos's financial reports and the closest IFRS measures.
*) Reconciliation of alternative performance measures can be found in respectively period's interim report.
