Kåpi Tvätt AB 1 (12)

Corporate ID No. 556471-9002

The Board of Directors and the managing director for Kåpi Tvätt AB hereby submit the annual financial
statement for the financial year 2021.

All amounts in the annual report are presented in Swedish kronor, SEK. Unless otherwise stated, all
amounts are posted in Swedish kronor (SEK). Data in parentheses refer to the previous year.

Directors’ Report

Information about the operations

The company is headquartered in Bengtsfors.

Significant events during the financial year

Expected future prospects and significant risks and uncertainties

Sustainability information

Multi-year overview (Tkr) 2021 2020 2019 2018 2017

69 245 57 966 79 394 70 903 69 080
-4 588 -3 203 1 569 1 160 3 316
54 631 56 960 65 668 56 157 58 482
87 82 86 77 79
25 31 30 33 30

Changes in Equity
Share Statutory Retained Profit/loss Total
capital reserve profit/loss this year
Amount at the opening of
the year 100 000 20 000 9 168 351 21 046 9 309 397
Appropriation of earnings
as per decision of the
Annual General Meeting:
Balanced on a new
account 21 046 -21 046 0
Profit/loss for the year 34 765 34 765
Amount at the closing of
the year 100 000 20 000 9 189 397 34 765 9 344 162

Proposals for profit allocation

The Board of Directors recommends that the profit/loss and brought forward profits available for
disposition (SEK):
 Kåpi Tvätt AB 2 (12)
Corporate ID No. 556471-9002

profit carried forward 9 189 397

profit for the year 34 765
9 224 162

be distributed so that they are:

carried over 9 224 162
9 224 162

The company’s earnings and financial position in general are indicated in the following income statement
and balance sheet as well as the cash flow analysis with notes.
Kåpi Tvätt AB 3 (12)
Corporate ID No. 556471-9002

Income Statement Note 2021-01-01 2020-01-01

-2021-12-31 -2020-12-31

Operating revenues
Net turnover 2 69 244 669 57 966 472
Other operating income 3 3 939 538 7 245 647
73 184 207 65 212 119

Operating expenses
Goods for resale -8 488 263 -5 487 604
Other external costs 4 -16 913 950 -16 012 995
Personnel costs 5, 6 -39 635 714 -34 525 257
Depreciation/amortisation and impairment of property,
plant and equipment and intangible assets -11 496 392 -11 080 387
-76 534 319 -67 106 243

Operating profit/loss -3 350 112 -1 894 124

Profit/loss from financial items

Other interest income and similar profit/loss items 27 159 52 879
Interest expense and similar profit/loss items -1 265 488 -1 362 220
-1 238 329 -1 309 341

Profit/loss after financial items -4 588 441 -3 203 465

Appropriations 7 4 700 000 3 251 194

Pre-tax profit/loss 111 559 47 729

Tax on profit for the financial year -76 794 -26 683
Net profit/loss for the year 34 765 21 046
Kåpi Tvätt AB 4 (12)
Corporate ID No. 556471-9002

Balance Sheet Note 2021-12-31 2020-12-31

ASSETS

Fixed assets

Intangible fixed assets

Franchise, patents, licences, trademarks and other
similar rights 8 112 520 71 216
112 520 71 216

Tangible fixed assets

Buildings and Land 9 3 304 684 3 516 267
Equipment, tools and installations 10 14 567 316 16 849 397
Construction in progress and advance payments for
tangible fixed assets 11 22 117 962 24 429 761
39 989 962 44 795 425

Financial assets
Other long-term receivables 12 25 000 25 000
25 000 25 000
Total fixed assets 40 127 482 44 891 641

Current assets

Inventories, etc.
Raw materials and consumables 295 966 285 102
295 966 285 102

Current receivables
Accounts receivable 12 739 051 7 136 636
Current tax assets 75 698 135 162
Other receivables 13 290 092
Deferred expenses and accrued income 13 354 653 2 151 941
13 169 415 9 713 831

Cash on hand and in bank 1 037 909 2 069 804

Total current assets 14 503 290 12 068 737

TOTAL ASSETS 54 630 772 56 960 378

Kåpi Tvätt AB 5 (12)
Corporate ID No. 556471-9002

Balance Sheet Note 2021-12-31 2020-12-31

EQUITY AND LIABILITIES

Equity 14, 15
Restricted reserves
Share capital 100 000 100 000
Statutory reserve 20 000 20 000
120 000 120 000

Non-restricted equity
Retained earnings or losses 9 189 397 9 168 350
Profit/loss for the year 34 765 21 046
9 224 162 9 189 396
Total equity 9 344 162 9 309 396

Untaxed reserves 16 5 650 000 10 350 000

Provisions
Deferred tax liability 17 34 347 31 220
Total provisions 34 347 31 220

Long-term liabilities 18, 19

Liabilities to credit institutions 13 506 391 17 246 189
Total long-term liabilities 13 506 391 17 246 189

Current liabilities 19
Liabilities to credit institutions 5 031 471 4 991 623
Accounts payable 2 823 175 2 498 832
Bills payable 5 491 185 2 499 998
Current tax liabilities 66 410 66 410
Other liabilities 4 525 134 2 478 940
Accrued expenses and deferred income 21 8 158 497 7 487 770
Total current liabilities 26 095 872 20 023 573

TOTAL EQUITY AND LIABILITIES 54 630 772 56 960 378

Kåpi Tvätt AB 6 (12)
Corporate ID No. 556471-9002

Cash Flow Analysis Note 2021-01-01 2020-01-01

-2021-12-31 -2020-12-31

Current activities
Profit/loss after financial items -4 588 441 -3 203 465
Adjustments for items not included in the cash flow 22 11 527 612 11 080 387
Tax paid -141 486 782 096
Cash flow from operating activities before change in
working capital 6 797 685 8 659 018

Cash flow from change in the working capital

Change in inventories and ongoing works -10 864 16 241
Change in customers' accounts receivable -5 602 415 5 819 901
Change in current receivables 2 087 367 -1 707 915
Change in accounts payable 324 344 -2 278 529
Change in current liabilities -1 024 013 -8 911 591
Cash flow from operating activities 2 572 104 1 597 125

Investment activities
Investments in tangible fixed assets -6 732 234 -5 170 309
Sale of tangible fixed assets 30 500 0
Cash flow from investment activities -6 701 734 -5 170 309

Financing activities
Debts incurred 3 042 326 5 642 208
Amortisation of loans -6 742 276 0
Cash flow from financing activities -3 699 950 5 642 208

Annual cash flow -7 829 580 2 069 024

Liquid assets, opening balance

Liquid assets, opening balance 2 069 804 780
Liquid assets, closing balance -5 759 776 2 182 150
 Kåpi Tvätt AB 7 (12)
Corporate ID No. 556471-9002

Notes
Note 1 Accounting and Valuation principles

General Information
The annual report is prepared in accordance with the Swedish Annual Accounts Act and BFNAR 2012:1
Annual Reporting and consolidated reports (K3).

The accounting principles remain unchanged as compared to the previous year.

Revenue Recognition
Revenue has been raised to the fair value of consideration received or receivable and is recognised to the
extent that it is probable that the economic benefits will be available to be used by the company and the
revenue can be measured reliably.

Fixed assets
Intangible and tangible fixed assets are posted at the acquisition value less accumulated depreciation and
any write-downs.

Depreciation is done on a straight-line basis over the estimated useful life of the asset taking the
significant residual value into account. The following depreciation percentage is applied:

Note 2 Net Turnover Distribution

2021 2020

Net turnover per line of business

68 556 378 57 847 302
688 289 119 170
69 244 667 57 966 472

Note 3 Public grants

Note 4 Remuneration to Auditors

Audit assignment refers to inspection of the annual report and the accounting as well as the reports of the
Board of Directors and the CEO, other tasks fulfilled by the company auditor as well as counselling or
other assistance deriving from observations made in the course of the inspection or fulfilment of such
other tasks.

2021 2020

PwC
Audit engagement 65 000 64 500
Audit activities in addition to the audit engagement 70 000 17 500
135 000 82 000
Kåpi Tvätt AB 8 (12)
Corporate ID No. 556471-9002

Note 5 Average number of employees

2021 2020

Average number of employees 87 82

Note 6 Employees and Personnel Costs distributed per Country

2021 2020

Average number of employees distributed per

country
Sweden 87 (37) 82 (37)
87 (37) 82 (37)
The average number of women is indicated in
parenthesis

Salaries and other remunerations

Board of Directors and Managing Director 1 444 343 1 243 459
Other employees 26 268 757 25 376 483
27 713 100 26 619 942

Social security expenses

Pension costs for the Board of Directors and the Managing
Director 64 318 36 450
Pension costs for other employees 1 739 599 1 320 212
Other social security expenses pursuant to law and contracts 8 618 829 7 247 637
10 422 746 8 604 299

Sex distribution among leading clerks

Number of women on the board 67 % 67 %
Number of men on the board 33 % 33 %
Proportion of women among managing clerks 67 % 67 %
Proportion of men among managing clerks 33 % 33 %

Note 7 Appropriations
2021 2020

0 2 351 194
4 700 000 900 000
56 214 8 545 662
Red avskrivn bidrag 1 981 000 1 981 000
6 737 214 13 777 856

Note 8 Franchise, Patents, Licences, Trademarks and Similar Rights

2021-12-31 2020-12-31

Acquisition value, opening balance 319 216 319 216

Kåpi Tvätt AB 9 (12)
Corporate ID No. 556471-9002

Purchasing 50 366
Sales/discards -248 000
Accumulated acquisition value, closing balance 121 582 319 216

Depreciation, opening balance -248 000 -248 000

Sales/discards 248 000
Depreciation for the year -9 062 0
Accumulated depreciation, closing balance -9 062 -248 000

Book value, closing balance 112 520 71 216

Note 9 Buildings and land

2021-12-31 2020-12-31

Acquisition value, opening balance 6 215 947 6 215 947

Accumulated acquisition value, closing balance 6 215 947 6 215 947

Depreciation, opening balance -2 699 680 -2 488 098

Depreciation for the year -211 583 -211 582
Accumulated depreciation, closing balance -2 911 263 -2 699 680

Book value, closing balance 3 304 684 3 516 267

Note 10 Equipment, Tools and Installations

2021-12-31 2020-12-31

Acquisition value, opening balance 57 516 430 57 114 386

Purchasing 500 000 402 044
Accumulated acquisition value, closing balance 58 016 430 57 516 430

Depreciation, opening balance -40 667 033 -37 681 997

Depreciation for the year -2 782 081 -2 985 036
Accumulated depreciation, closing balance -43 449 114 -40 667 033

Book value, closing balance 14 567 316 16 849 397

Note 11 Construction in Progress and Advance Payments for Tangible Assets

2021-12-31 2020-12-31

Acquisition value, opening balance 52 028 523 54 812 311

Purchasing 6 181 868 4 768 265
Sales/discards -2 326 739 -7 552 053
Accumulated acquisition value, closing balance 55 883 652 52 028 523

Depreciation, opening balance -27 598 762 -27 267 046

Sales/discards 2 326 739 7 552 053
Depreciation for the year -8 493 667 -7 883 769
Accumulated depreciation, closing balance -33 765 690 -27 598 762
Kåpi Tvätt AB 10 (12)
Corporate ID No. 556471-9002

Book value, closing balance 22 117 962 24 429 761

Note 12 Other long-term receivables

2021-12-31 2020-12-31

Acquisition value, opening balance 25 000 25 000

Accumulated acquisition value, closing balance 25 000 25 000

Book value, closing balance 25 000 25 000

Note 13 Deferred expenses and Accrued Income

2021-12-31 2020-12-31

Förutbetalda hyror 987 0

Förutbetalt abonnemang/IT-avgift 1 856 1 395
Förutbetalda leasingavg. 182 779 315 810
Förutbetalda försäkringar 111 836 54 044
1 780 692
57 195
354 653 2 151 941

Note 14 Number of shares and the ratio value

Number of Quota
Name shares value
Number of A-Shares 1 000 1 000
1 000

Note 15 Appropriation of profit or loss

2021-12-31

Proposals for profit allocation

The Board of Directors recommends that the profit/loss and
brought forward profits available for disposition:

profit carried forward 9 189 397

profit for the year 34 765
9 224 162

be distributed so that they are:

carried over 9 224 162

Note 16 Untaxed Reserves

2021-12-31 2020-12-31

Accumulated excess depreciation/amortisation 5 650 000 10 350 000

Kåpi Tvätt AB 11 (12)
Corporate ID No. 556471-9002

5 650 000 10 350 000

Note 17 Deferred tax liability

2021-12-31 2020-12-31

Balance at beginning of year 31 220 26 760

Provisions for the year 3 127 4 460
Balance at the end of the year 34 347 31 220

Note 18 Long-term liabilities

2021-12-31 2020-12-31

Mature later than five years after the accounting date

580 000 620 000
580 000 620 000

Note 19 Liabilities related to several records

The company's bank loans of SEK X disclosed under the following balance sheet items.

2021-12-31 2020-12-31

Long-term liabilities
Other liabilities to credit institutions 13 506 391 17 246 189
13 506 391 17 246 189

Current liabilities
Other liabilities to credit institutions 5 031 471 4 991 623
5 031 471 4 991 623

Note 20 Bank Overdraft Facilities

2021-12-31 2020-12-31

Bank overdraft facilities amount to 2 200 000 2 200 000

Used credit amounts to 0

Note 21 Accrued expenses and deferred income

2021-12-31 2020-12-31

Upplupna löner 2 150 122 1 781 692

Upplupna semlöner 2 635 082 2 845 879
Upplupna sociala avgifter och andra avgifter 2 528 934 2 067 114
Beräkn löneskatt på pension 844 359 793 084
8 158 497 7 487 769

Note 22 Adjustments for Items not Included in the Cash Flow

Kåpi Tvätt AB 12 (12)
Corporate ID No. 556471-9002

2021-12-31 2020-12-31

Depreciation 11 496 392 11 080 387

Profit on exchange 31 220
11 527 612 11 080 387

Note 23 Pledged Assets

2021-12-31 2020-12-31

Liabilities To Credit Institutions:

18 500 000 18 500 000
13 975 000 13 975 000
1 056 125 2 667 078
6 229 204 7 041 058
5 491 185 2 499 998
45 251 514 44 683 134

Note 24 Significant events after the financial year

Bengtsfors

Kent Petersson Lena Petersson

Chairman

Lise Björevall
Managing Director

Our audit report was submitted

Öhrlings Pricewaterhouse Coopers AB

Jakob Larsson
Authorized Public Accountant