38231219 2015-01-01 2015-12-31 38231219 2015-01-01 2015-12-31 Direktionsmedlem 1 38231219 2015-01-01 2015-12-31 Bestyrelsesmedlem 1 38231219 2015-01-01 2015-12-31 Bestyrelsesmedlem 2 38231219 2015-01-01 2015-12-31 Bestyrelsesmedlem 3 38231219 2015-01-01 2015-12-31 Bestyrelsesmedlem 4 38231219 2015-12-31 38231219 2014-12-31 38231219 2014-01-01 2014-12-31 38231219 2015-12-31 fsa:LandAndBuildingsMember 38231219 2014-12-31 fsa:LandAndBuildingsMember 38231219 2015-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 38231219 2014-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 38231219 2015-01-01 2015-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 38231219 2014-01-01 2014-12-31 fsa:FixturesFittingsToolsAndEquipmentMember 38231219 2015-01-01 2015-12-31 fsa:LandAndBuildingsMember 38231219 2014-01-01 2014-12-31 fsa:LandAndBuildingsMember 38231219 2015-12-31 fsa:InvestmentsInGroupEnterprisesMember 38231219 2014-12-31 fsa:InvestmentsInGroupEnterprisesMember 38231219 2015-01-01 2015-12-31 fsa:RetainedEarningsMember 38231219 2014-01-01 2014-12-31 fsa:RetainedEarningsMember 38231219 2014-01-01 2014-12-31 fsa:ProposedDividendRecognisedInEquityMember 38231219 2015-01-01 2015-12-31 fsa:RetainedEarningsMember 38231219 2014-01-01 2014-12-31 fsa:RetainedEarningsMember 38231219 2015-12-31 fsa:ContributedCapitalMember 38231219 2014-12-31 fsa:ContributedCapitalMember 38231219 2015-12-31 fsa:RetainedEarningsMember 38231219 2014-12-31 fsa:RetainedEarningsMember 38231219 2015-01-01 2015-12-31 fsa:ParentOfLargestGroupInWhichReportingEntityIsSubsidiaryMember 38231219 2015-01-01 2015-12-31 fsa:ParentOfSmallestGroupInWhichReportingEntityIsSubsidiaryMember 38231219 2015-12-31 Kapitalklasse 01 38231219 2015-01-01 2015-12-31 fsa:SubsidiaryMember FA Dattervirksomhed 01 38231219 2015-12-31 fsa:SubsidiaryMember FA Dattervirksomhed 01 38231219 2015-01-01 38231219 2014-01-01 38231219 2015-01-01 2015-12-31 Revisionsvirksomhed 01 38231219 2015-01-01 2015-12-31 Revisor 01 38231219 2015-01-01 2015-12-31 fsa:InvestmentsInGroupEnterprisesMember 38231219 2014-01-01 2014-12-31 fsa:InvestmentsInGroupEnterprisesMember iso4217:DKK pure shares The Comany´s activities consist in marketing and distribution of tyres, tubes and similar products in Denmark. Profit for the year is considered satisfactory. No events have occurred after the balance sheet date to this date which would influence the evaluation of this annual report. The Company expects activities and profit for 2016 to be at the level of 2015. Robin Shaw The Board of Directors and the Executive Board have today considered and approved the annual report of Bridgestone Danmark A/S for the financial year 01.01.2015 - 31.12.2015. The annual report is presented in accordance with the Danish Financial Statements Act. We recommend the annual report for adoption at the Annual General Meeting. We believe that the management commentary contains a fair review of the affairs and conditions referred to therein. Jose Enrique Gonzalez Robin Shaw Henrik Kjær Christensen Patrick Fitzgerald Curran chairman 6223724 5993189 64527778 65718135 8156557 13654735 104042450 111191759 31358115 31818889 72684335 79372870 23706730 24375854 1427661 1449846 6223724 5993189 52571934 55776660 4032405 3435152 2975997 2506323 447442 4500000 4000000 79567481 90604305 10000000 65000000 15185217 10191777 41827457 5473199 333102 12554807 9606227 253891969 244526569 13450656 11631468 74116 104629 634667 554155 230535 -346642 32569098 28274318 4991537 4619373 4661521 3823205 3586515 2753730 24158684 20463583 1696277 1600422 533773 465497 45028 50856 1143799 1074587 1637799 19851698 44296278 9707794 284000 110000 74116 104629 -634667 -554155 -1838550 -1011452 -452490 -223224 -55000000 -30000000 -2000000 -5498178 1679250 This annual report has been presented in accordance with the provisions of the Danish Financial Statements Act governing reporting class C enterprises (medium). Assets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Entity, and the value of the asset can be measured reliably. Liabilities are recognised in the balance sheet when the Entity has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Entity, and the value of the liability can be measured reliably. On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item. Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement. Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year. Land and buildings, plant and machinery as well as other fixtures and fittings, tools and equipment are measured at cost less accumulated depreciation and impairment losses. Land is not depreciated. Cost comprises the acquisition price, costs directly attributable to the acquisition and preparation costs of the asset until the time when it is ready to be put into operation. The basis of depreciation is cost less estimated residual value after the end of useful life. Straight-line depreciation is made on the basis of the following estimated useful lives of the assets: Buildings 50 years Other fixtures and fittings, tools and equipment 3-5 years Property, plant and equipment are written down to the lower of recoverable amount and carrying amount. Investments in group enterprises are recognised and measured according to the equity method. This means that investments are measured at the pro rata share of the enterprises’ equity plus or minus unamortised positive, or negative, goodwill and minus or plus unrealised intra-group profits or losses. Upon distribution of profit or loss, net revaluation of investments in group enterprises is transferred to Reserve for net revaluation according to the equity method under equity. Goodwill is calculated as the difference between cost of the investments and fair value of the assets and liabilities acquired. Goodwill is amortised over its estimated useful life which is normally five years, however, in certain cases it may be up to 20 years for strategically acquired enterprises with a strong market position and a long-term earnings profile if the longer amortisation period is considered to give a better reflection of the benefit from the relevant resources. Investments in group enterprises are written down to the lower of recoverable amount and carrying amount. Receivables are measured at amortised cost, usually equalling nominal value less write-downs for bad and doubtful debts. Deferred tax is recognised on all temporary differences between the carrying amount and tax-based value of assets and liabilities, for which the tax-based value of assets is calculated based on the planned use of each asset. Deferred tax assets, including the tax base of tax loss carryforwards, are recognised in the balance sheet at their estimated realisable value, either as a set-off against deferred tax liabilities or as net tax assets. Current tax payable or receivable is recognised in the balance sheet, stated as tax calculated on this year's taxable income, adjusted for prepaid tax. Prepayments comprise incurred costs relating to subsequent financial years. Prepayments are measured at cost. Cash comprises cash in hand and bank deposits. 31408161 31408161 6068591 5616101 452490 -7701431 -7032307 -4640930 -4166255 669124 474675 10416000 10416000 Other financial liabilities are measured at amortised cost, which usually corresponds to nominal value. Revenue from the sale of goods for resale is recognised in the income statement when delivery is made and risk has passed to the buyer. Revenue is recognised net of VAT, duties and sales discounts and is measured at fair value of the consideration fixed. Other external expenses include expenses relating to the Entity’s ordinary activities, including expenses for premises, stationery and office supplies, marketing costs, etc. This item also includes write-downs of receivables recognised in current assets. Cost of sales comprises costs of sales for the financial year measured at cost. Income from investments in group enterprises comprises the pro rata share of the individual enterprises’ profit/loss after full elimination of internal profits or losses. Other financial income comprises interest income including interest income on receivables from group enterprises and net capital gains on securities, payables and transactions in foreign currencies. Other financial expenses comprise interest expenses including interest expenses on payables to group enterprises, net capital losses on payables and transactions in foreign currencies. Tax for the year, which consists of current tax for the year and changes in deferred tax, is recognised in the income statement by the portion attributable to the profit for the year and recognised directly in equity by the portion attributable to entries directly in equity. The Entity is jointly taxed with the Danish subsidiary. The current Danish income tax is allocated among the jointly taxed entities proportionally to their taxable income (full allocation with a refund concerning tax losses). Staff costs comprise salaries and wages as well as social security contributions, pension contributions, etc for entity staff. Amortisation, depreciation and impairment losses relating to property, plant and equipment comprise amortisation, depreciation and impairment losses for the financial year, calculated on the basis of the residual values and useful lives of the individual assets and impairment testing as well as gains and losses from the sale of property, plant and equipment. The cash flow statement shows cash flows from operating, investing and financing activities as well as cash and cash equivalents at the beginning and the end of the financial year. Cash flows from operating activities are presented using the indirect method and calculated as the operating profit/loss adjusted for non-cash operating items, working capital changes and income taxes paid. Cash flows from investing activities comprise payments in connection with acquisition and divestment of enterprises, activities and fixed asset investments as well as purchase, development, improvement and sale, etc of intangible assets and property, plant and equipment, including acquisition of assets held under finance leases. Cash flows from financing activities comprise changes in the size or composition of the contributed capital and related costs as well as the raising of loans, inception of finance leases, instalments on interest-bearing debt, purchase of treasury shares, and payment of dividend. Cash and cash equivalents comprise cash less short-term bank debt. Referring to 112(2) of the Danish Financial Statements Act, no consolidated financial statements have been prepared. Financial highlights are defined and calculated in accordance with "Recommendations & Ratios 2010" issued by the Danish Society of Financial Analysts. Ratios Calculation formula Ratios reflect Gross margin (%) Gross profit x 100 Revenue The Entity's operating gearing. Net margin (%) Profit/loss for the year x 100 Revenue The Entity's operating profitability. Return on equity (%) Profit/loss for the year x 100 Average equity The Entity's return on capital invested in the Entity by the owners. Soliditetsgrad (%) Equity x 100 Total assets The financial strength of the Entity. -4192276 -4422811 5860890 4958056 6693917 4648171 1293 8082 37459 66938 35364 29609 1038558 949505 17000 91000 19448 28970 2698669 3257475 38 38 2975997 2506323 2015-12-31 2015-01-01 38231219 Bridgestone Danmark A/S 1972-05-01 Favrskov 87646668 87646665 www.bridgestone.dk 2016-05-31 Ulrik Uhrenholt In our opinion, the financial statements give a true and fair view of the Entity’s financial position at 31.12.2015 and of the results of its operations and cash flows for the financial year 01.01.2015 - 31.12.2015. 2016-05-31 Hinnerup Prepayments comprise incurred costs relating to subsequent financial years. The Company serves as an administration company in a Danish joint taxation arrangement. According to the joint taxation provisions of the Danish Corporation Tax Act, the Company is therefore liable from the financial year 2013 for income taxes etc. for the jointly taxed companies and from 1 July 2012 also for obligations, if any, relating to the withholding of tax on interest, royalties and dividends for these companies. The Company has registered the following shareholder to hold more than 5% of the voting share capital or of the nominal value of the share capital: Bridgestone Europe S.A. 33963556 Deloitte Statsautoriseret Revisionspartnerselskab City Tower, Værkmestergade 8000 Aarhus C Denmark 89 41 41 41 25134391 25825700 104042450 111191759 22961523 19375008 6000000 6000000 16961523 13375008 1513446 1212446 545000 528000 968446 684446 79567481 90604305 292898282 279932156 3586515 2753730 19887871 18762737 26433762 22580358 1143799 1074587 1075006 1069475 3586515 2753730 3586515 2753730 3586515 2753730 6000000 6000000 16961523 13375008 Other provisions comprise anticipated costs of nonrecourse guarantee commitments. 1143799 Bridgestone Corporation, Japan Bridgestone Europe S.A. Ordinary shares 6000000 6000000 Management is responsible for the preparation of financial statements that give a true and fair view in accordance with the Danish Financial Statements Act and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. Our responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and additional requirements under Danish audit regulation. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the Entity's preparation of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Entity's internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.Our audit has not resulted in any qualification. In our opinion, the financial statements give a true and fair view of the Company’s financial position at 31.12.2015 and of the results of its operations and cash flows for the financial year 01.01.2015 - 31.12.2015 in accordance with the Danish Financial Statements Act. Pursuant to the Danish Financial Statements Act, we have read the management commentary. We have not performed any further procedures in addition to the audit of the financial statements. On this basis, it is our opinion that the information provided in the management commentary is consistent with the financial statements. Other provisions comprise anticipated costs of non-recourse guarantee commitments. Other provisions are recognised and measured as the best estimate of the expenses required to settle the liabilities at the balance sheet date. Provisions that are estimated to mature more than one year after the balance sheet date are measured at their discounted value. Non-recourse guarantee commitments comprise commitments to remedy defects and deficiencies within the guarantee period. Tobøl Dæk A/S Tobøl A/S 100 Årsrapport 1427661 1449846 23706730 24375854 6223724 5993189 Regnskabsklasse C, mellemstor virksomhed To the owners of Bridgestone Danmark A/S We have audited the financial statements of Bridgestone Danmark A/S for the financial year 01.01.2015 - 31.12.2015, which comprise the accounting policies, income statement, balance sheet, statement of changes in equity, cash flow statement and notes. The financial statements are prepared in accordance with the Danish Financial Statements Act. In pursuance of section 98b (3) of the Danish Financial Statements Act, Management´s remuneration is not disclosed. Aarhus 2016-05-31 52353413 35363452 49954312 33902474 -452490 -223224 -55000000 -32000000 46218077 29669492 8156557 13654735 13654735 11975485 Sigma 1 8382 Hinnerup 33963556 Deloitte Statsautoriseret Revisionspartnerselskab City Tower, Værkmestergade 2 8000 Aarhus C Henrik Buch State Authorised Public Accountant 6000000 6000000 On initial recognition, foreign currency transactions are translated applying the exchange rate at the transaction date. Receivables, payables and other monetary items denominated in foreign currencies that have not been settled at the balance sheet date are translated using the exchange rate at the balance sheet date. Exchange differences that arise between the rate at the transaction date and the one in effect at the payment date, or the rate at the balance sheet date are recognised in the income statement as financial income or financial expenses. Other operating income comprises income of a secondary nature as viewed in relation to the Entity’s primary activities, including rental income. 230535 -346642 Revisionspåtegning Lease payments on operating leases are recognised on a straight-line basis in the income statement over the term of the lease. The accounting policies applied for these financial statements are consistent with those applied last year. 2016-05-31