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New reporting style to enhance transparency - IC Companys
16
Apr '13
As mentioned in the interim report for H1 2012/13 IC Companys’ future quarterly reporting will be presented differently in order to reflect the new segmentation of the business. This will have effect as of Q3 2012/13. The new reporting will lead to enhanced transparency in respect of the future performance of the individual core segments.

Prior to the announcement of the interim report for Q3 2012/13 historical and comparative data for the new business segments have been compiled.

Segment information

Business segments

Reporting to the Group’s Management, which is considered to be the Chief Operating Decision Maker, is based on the Group’s three core business segments; Premium Outdoor, Premium Contemporary and Mid Market Contemporary.

IC Companys’ two brands; Saint Tropez and Designers Remix are considered non-core business. Saint Tropez operates independently and has not been integrated into IC Companys’ shared service platform and may in the long term be divested. Designers Remix is only partly owned by IC Companys and the future ownership needs to be resolved before taking any further decisions in respect of the brand’s future. These two brands are presented under the business segment Non-core business.

Regarding the brands Jackpot and Cotton field, a formal sales process has been initiated and these two brands have therefore been classified as Discontinuing activities.

Management evaluates operating profits of business segments separately in order to make decisions in relation to resource allocation and performance measurement. The segment results are evaluated on the basis of operating results, which are calculated by the same methods as in the consolidated financial statements. Financial income, costs and corporate taxes are calculated at Group level and are not allocated to operating segments.

No material trade or other transactions take place between the business segments. Revenue from external customers, which is reported to Management, is measured by the same methods as in the income statement. Cost allocation between business segments is made on an individual basis with the addition of some, systematically allocated indirect costs to show the profitability of the business segments. Assets and liabilities of the individual business segments are not included in the regular reporting to the Management.

Premium Outdoor and Premium Contemporary

Premium Outdoor comprises the following business; Peak Performance.

Premium Contemporary comprises the following two businesses; Tiger of Sweden and By Malene Birger.

The main target for Premium Outdoor and Premium Contemporary is to generate growth through enhanced market penetration and internationalisation and thereby boost revenues and earnings. Consequently, the prerequisite for future investments is that the business segments must;

• be among the most successful businesses in their home markets within their segment;

• be able to document international growth potential; and

• achieve a high return on invested capital.

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