Wednesday, April 08, 2009
IFS introduces new segment reporting
As of January 1, 2009, the IFS Group applies IFRS 8. The new standard requires that segment information be presented from the perspective of the management, i.e. in the manner in which it is used in internal reporting. The result is an increase in the number of segments reported.
Of the Group’s seven segments, six are geographical areas and one is a business entity consisting of the IFS Group’s share in IFS Defence (pty).
IFS Group operations are divided into seven segments. Countries in which IFS operates, either directly through own sales companies or indirectly through partners, are distributed as follows:
Europe North: Denmark, Estonia, Finland, Latvia, Norway, and Sweden.
Europe West: France, Ireland, Spain, and the UK.
Europe Central: Germany, Italy, Netherlands, and Switzerland.
Europe East: Czech Republic, Hungary, Poland, Romania, Russian Federation, Slovakia, Turkey, and Ukraine.
Americas: Brazil, Canada, and the USA.
Africa, Asia, and Pacific: Egypt, Ethiopia, Kenya, Nigeria, South Africa, Tanzania, Bangladesh, China, Hong Kong, India, Indonesia, Japan, Malaysia, Oman, Pakistan, Philippines, Saudi Arabia, Singapore, Sri Lanka, Taiwan, Thailand, United Arab Emirates, Australia, and New Zealand.
Defense: The IFS Group’s share in IFS Defence (pty) Ltd, headquartered in the UK, a 50/50 joint venture jointly owned with BAE Systems Plc. The IFS Group owns 50% of the capital and voting rights.
IFS is a public company (OMX STO: IFS) founded in 1983 that develops, supplies, and implements IFS Applications™, a fully-integrated, component-based extended ERP suite built on SOA technology. The company has more than 2,000 customers in more than 50 countries and focuses on seven main industries: aerospace & defense, utilities & telecom, manufacturing, process industries, automotive, retail & wholesale distribution, and construction contracting & service management. IFS has 2,700 employees and net revenue in 2008 was SKr 2.5 billion.The information is that which IFS is required to declare by the Securities Business Act and/or the Financial Instruments Trading Act. The information was submitted for publication on April 8, 2009, at 5:30 p.m.