Ilija Batljan, CEO and Founder of Samhällsbyggnadsbolaget i Norden AB, fights for the reputation of his group.
RATING EVIDENCE has had several occasions to report on this entrepreneur and his company on this and another website, rating.repair and everling.de. RATING©REPAIR is the name of the virtual repair shop as a B2B service, a brand name and trademark of RATING EVIDENCE GmbH.
Viceroy claims that Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) has SEK 14bn liabilities outside of its balance sheet, “which is incorrect and misleading”, this is how the suspected comments on these allegations. “The SEK 14bn of acquired debt is included in the balance sheet and there are no other liabilities outside of the balance sheet. All liabilities including liabilities in acquired companies have been confirmed by audit statements from banks and audited by EY.”
What is the quality of referring to the auditing firm Ernst & Young (EY)? The circumstances at some of the EY companies have already been reported in various blog posts. Involvement in various other scandals and a Berlin credit rating agency played a role in these reports. The rating agency, whose long-time chairman of the supervisory board was also chairman of the EY supervisory board, issued the “good” credit ratings that are so important to Ilija Batjan’s activities. To date, there has been no news from the rating agency on the case.
“To clarify note 26 in the annual report in relation to the claims from Viceroy, the purpose of the note is to clarify that the debt does not have a direct impact on the cash flow statement but has been added indirectly through the acquisition of a subsidiary. For acquired subsidiaries, SBB applies the industry standard, where acquired subsidiaries are reported on their respective rows in the cash flow statement instead of making a net reporting of all items as a single item”, that’s the argument at SBB.
In the cash flow statement, SBB has chosen to present the acquisition of properties gross. This gives rise to the following argument:
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