34
In the UK, Nobia increased its market share in a declining market.6
“Rapid action is now needed to strengthenour competi-tiveness,” comments Preben Bager following his first year as President and CEO.13
Alongside economies of scale in the supply chain, the multi-brand and the multi-channel strategy is one of Nobia’s strengths.d O47Comments on trends in opeating cash flow in 2008 are provided on page 47.
O47
OComments on trends in oper-Oating cash flow in 2008 are Oprovided on page 47.Contents
This is Nobia The kitchen industry Business overview CEO’s comments Annual Report (pages 10–63)Board of Directors’ Report (pages 10–31)Business concept and objectives Strategic cornerstones: 1. Multi-brand and multi-channel strategy 2. Low product costs 3. Profitable growth 4. Decentralised responsibility for profit Financial overview 2008 Disposition of profits Regions in 2008:– UK – Nordic – Continental Europe Risks and risk management 2468Financial statements for the Group and Parent Company (pages 32–62)– Consolidated income statement and comments – Consolidated balance sheet and comments – Change in consolidated shareholders’ equity – Consolidated cash-flow statement and comments 1012141618202324262830– Parent Company income statement, balance sheet and cash-flow statement Note 1–Note 35 Board of Directors’ signature Audit report The Nobia share Sustainable enterprising Ten-year summary Corporate Governance Report Board of Directors Group Management Annual General Meeting, definitions andfinancial information Addresses 32 3436 373840–6162636466 7172 76788081The kitchen featured on the cover is called City Noir and is a product from the French company Hygena.The Board of Directors and President of Nobia AB, Corporate Reg-istration Number 556528-2752, hereby present the Annual Report and consolidated financial statements for the 2008 fiscal year.The Board of Directors’ Report is presented on pages 10–31.