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 2021 annual report for AddLife AB were also used in the interim report. The amendments to IFRSs applicable from 1 January, 2022 have no effects to AddLife's financial reports for the interim period ended 30 June, 2022.
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 choosen key ratios, please refer to AddLife's annual report 2021. 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
On July 1, 2022, AddLife acquired all shares in the company JK Lab Nordic AB to the Labtech business area. JK Lab is a specialized distributor of instruments and services in material sampling and has sales of approximately SEK 25m and 6 employees. The Company will be integrated into Bergman Labora.
After the end of the interim period AddLife renegotiated credit facilities corresponding to SEK 2.2 billion with initial maturity second quarter year 2023. The credit facilities mature during the third quarter of 2025 with an extension option of up to a further 24 months.
No other events of significance to the Group 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 2021. 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 and shipping costs and greater uncertainty about interest rate developments.