Accounting policies
This interim report was prepared in accordance with IFRS and IAS 34 Interim Financial Reporting. Information in accordance with IAS 34.16A exist, except in the financial statements and the related notes, also in other parts of the interim report. The interim report for the parent company was prepared in accordance with the Swedish Annual Accounts Act (1995:1554) and the Securities Market Act (2007:528) in compliance with recommendation RFR 2 Accounting for Legal Entities of the Swedish Financial Reporting Board. The accounting policies and basis for calculations applied in the annual report 2023 for AddLife AB were also used in the interim report. The amendments to IFRSs applicable from 1 January, 2024 have no effects to AddLife's financial reports for the interim period ended March 31, 2024.
Information on Global Minimum Tax
The group is covered by the OECD's model rules for Pillar II. Legislation on Pillar II has been adopted in Sweden, where AddLife AB is based, and entered into force on 1 January 2024. The Group applies the exemption for reporting and providing information on deferred tax assets and liabilities related to income taxes from Pillar II, which is specified in the amendments to IAS 12 issued in May 2023.
The group's exposure to legislation within Pillar II has been calculated and analyzed. The company assesses that the effect is not material in the first quarter of 2024.
Alternative performance measures
AddLife presents certain financial measures in the interim report that are not defined according to IFRS. The company believes that these measures provide valuable supplemental information to investors and the company's management as they allow for evaluation of trends and the company’s performance. For additional information regarding chosen key ratios, please refer to AddLife's annual report 2023. Since all companies do not calculate financial measures in the same way these are not always comparable to measures used by other companies. These financial measures should therefore not be considered as a replacement for measurements as defined under IFRS. This report provides information in greater detail regarding definitions of financial performance measures.
Transactions with related parties
No transactions with related parties that materially affected the group’s financial position and earnings took place during the interim period.
Events after the end of the interim period
No significant events for the group have occurred after the end of the interim period.
Risks and uncertainties
AddLife’s earnings and financial position, as well as its strategic position, are affected by various internal factors within AddLife’s control and various external factors over which AddLife has limited influence. AddLife’s most significant external risks are the state of the economy and market trends combined with public sector contracts and policy decisions, as well as competition. The risks and uncertainties are the same as in previous periods. For more information, see the section “Risks and uncertainties” in the administration report, in AddLife’s annual report 2023. The parent company is indirectly affected by the above risks and uncertainties through its function in the group.
The war in Ukraine has not had a significant economic impact on the financial reports, but it can not be ruled out that this will happen in the future. We follow market developments closely, where we notice rising inflation, higher raw material, shipping costs, energy costs and greater uncertainty about interest rate developments. We follow the development in the Middle East but, at this point in time, our assessment is that this doesn’t have a significant impact on the group.
Stockholm April 24, 2024
Fredrik Dalborg
President and CEO
This interim report has not been subject to review by the company's auditor.