Note 9 - Restructuring expenses – Allocation to restructuring reserve

Following the entry into force of a new organisation in April 2012, during 2013 a restructuring program was initiated entailing a division of the sales and marketing departments between Table Top and Meal Service within the Professional business area. The program started with the Nordic region during the third quarter and, during the fourth quarter, was expanded to cover additional sales organisations in Europe. In total, restructuring expenses of SEK 11 m were incurred relating to the program. Together, the measures are expected to generate annual savings on par with the structural expenses, and the full impact on earnings is expected to be achieved during the second half of 2014.

In addition, SEK 6 m is attributable to efficiency improvements within the logistics operations.

During 2012, restructuring expenses totalling SEK 113 m were incurred. SEK 83 m of these expenses related to the plant closure of the hygiene products unit within Tissue. This relates primarily to the write-down of fixed assets and also, to a certain extent, of inventory. The final closure of the unit is expected to take place in April 2015.

Restructuring expenses are included in each function as follows:

	Group		Parent Company
SEK m	2013	2012	2013	2012
Costs of goods sold	6	14	-	-
Selling expenses	11	12	3	12
Administrative expenses	0	10	-	-
Other operating expenses	0	77	-	17
Total restructuring expenses	17	113	3	28

Allocation to restructuring reserve:

	Group		Parent Company
SEK m	2013	2012	2013	2012

Opening balance, restructuring reserve	17	11	6	5
Utilized reserves	-15	-15	-5	-6
Reversal of reserve	0	-1	0	-1
Allocations for the year	19	22	3	8
Closing balance, restructuring reserve	21	17	5	6
Of which short-term	21	17	5	6

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