ANNUAL REPORT
2013
Contents 2013 in Brief 4 Letter from the CEO 6 Vision, Mission 8 Core Business 10 The Future of Space Planning is PGC 14
CONNECT THE DOTS!
Catalogues or PGC? 26 Report on Operations 32 Linköping 52 Göteborg 54 Grand Rapids 56 Kuala Lumpur 58 Corporate Climate 60 Corporate Social Responsibility 64 Board and Executive Management 66
Financial Report Five-Year Summary 68 Consolidated Income Statement 69 Consolidated Balance Sheet 70 Notes for Group 72 Audit Report 77 Environmental Policy 78 Software and Company 79
Configura Sverige Aktiebolag Annual Report and Consolidated Financial Statements for the fiscal year 2013. Corporate registration number 556404-7156
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2013
Important Events ●
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IN BRIEF
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Key Figures
2009 2010 2011 2012 2013
Total sales, SEK M
63.9
61.7
65.2
73.2
74.1
Increase/decrease, %
-1.5
-3.4
5.7
10.1
1.2
Profit/loss after financial items, SEK M
4.7
2.2
3.8
4.6
2.3
Operating margin, %
6.8 2.6 5.3 6.9 2.7
Net financial assets, SEK M
12.5
8.4
11.0
14.3
●
14.7 ●
Financial two leading companies in the field: Midmark Corporation and Hamilton Scientific
Subscriptions and annual support accounted for more than 40 percent of revenue in 2013 The total number of subscribed and paid licenses stayed mainly flat due to the change to a user-based licensing model In 2013, sales increased by SEK 3 million mainly as an effect of a price increase on software subscriptions The Kuala Lumpur office doubled its workforce during the year to 14 people; half of the employees work with Quality Assurance and half with programming Configura welcomed a new customer, Swedish office furniture manufacturer Gärsnäs AB, which sells its products through Kinnarps’ dealer network In North America, Configura entered a new market segment, laboratory furniture and healthcare products, by signing contracts with
Tranquil Systems International, LLC, signed on for a CET Designer Extension; the company develops and markets wall systems for hospitals and offices
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We completed the transition from machine-based to user-based licenses
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Sales totaled SEK 76 million (73)
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Net operating profit was SEK 2 million (5)
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License subscription revenue and support was SEK 31 million (27)
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Net financial assets at year-end were SEK 15 million
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Continued high investments in R&D were approved for the 2014 budget
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In 2013, we continued to add value to the CET Designer experience, releasing the Catalogue Browser, an Extension that lets our users browse through manufacturers’ Catalogues and place their products in CET Designer
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The sixth annual CET Designer User Conference was held in Grand Rapids, Michigan, USA, with more than 225 participants and with representatives from 10 partner companies
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NET SALES 2009-201
3
PROFIT /LOSS
4
2009-2
013
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JOHAN Johan Lyreborn, CEO
2013 was the year Configura took the step into a new customer segment: laboratory and healthcare. We signed new customers Midmark and Hamilton Scientific. Midmark delivers interior equipment for medical, dental and animal health services. Hamilton Scientific delivers interior equipment for laboratories. Specifying and visualizing these kinds of interiors is comprehensive and time-consuming. On top of this, buyers’ demands for service and speed in quoting these kinds of projects have increased dramatically. This is where Configura enters the picture. We help our customers to create more orders, faster and better. Our revolutionary technology works seamlessly for companies that: Need space planning
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Offer solutions that are the result of system and product configuration
system to store products, geometries, company data, materials, pricelists, options, etc. The information in Catalogues can be used by designers and sales people when working with our software. Catalogues complements our current, unique technology where a customization is created with programming. Catalogues is a strategic and very important part of our goal of becoming a leading global partner for our customers. Our platform must be adaptable and able to handle the requests that make our customers unique in their different markets. That is what Configura is all about: We know how to develop and deliver customized software. For us, developing Catalogues was a natural step in our journey to maintain our world-leading position in Parametric Graphical Configuration.
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Want to visualize solutions in images and video so end-customers can understand what they’re buying
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Want to work consistently with quotations, specifications and installation drawings through all processes
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Are pressured to produce a high volume of quotations and want more of them to result in orders
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The list of reasons to choose Configura’s solution is long, but what makes us especially proud is that we continue to grow into new customer industries with a retained, consistent business model and technology platform. Our growth is proof of a strong business model and that our methods can handle the scaling which we have planned and prepared for over the course of many years. If we’re not already helping you today, we’re ready to help you now.
Today, Configura works on three continents. Our offices in Grand Rapids, Michigan, USA, Linköping, Sweden, and Kuala Lumpur, Malaysia, service our customers 24 hours a day. We work as one team. For us at Configura, it’s a cool feeling to know that we have created a very competitive organization, one that’s service-minded, innovative and with the ambition to grow. It is with pride that I hope you as a customer reap the benefits of our investments in these three locations. Thanks to the staff, users, customers, partners and suppliers who have been with us during 2013. Great job! Now, we’ll head straight forward and hope that we will see you during 2014.
Johan Lyreborn, CEO Linköping, April 2014
To simplify our work with new implementations and maintenance of our solutions, we introduced Catalogues during 2013. Catalogues is a cloud-based
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VISION MISSION We develop and deliver Parametric Graphical Configuration (PGC) software for companies that sell highly configurable products. We work with our customers by implementing solutions that make their sales processes more efficient, cost-effective, accurate and profitable. We value innovation, longevity and leadership.
MAKING PARAMETRIC GRAPHICAL CONFIGURATION
AVAILABLE WORLDWIDE 8
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CORE
Business Configura Sverige is the global leader in Parametric Graphical Configuration (PGC) software solutions. We serve customers in five core markets: Commercial Furniture
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Kitchen and Bath
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Material Handling
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Industrial Machinery
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Laboratory and Healthcare
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Our customers require solutions that simplify complex selling processes. Configura’s PGC software delivers those solutions. Users can create drawings, calculate prices, generate bills of material and render photo realistic 3D images – all in one affordable tool.
Objectives 1. Lead as the originator and ongoing developer of PGC software 2. Deliver PGC solutions to five core global markets:
Commercial Furniture Kitchen and Bath ● Material Handling ● Industrial Machinery ● Laboratory and Healthcare ● ●
3. Build long-term relationships with customers through a software subscription licensing model 4. Share and expand on PGC solutions through an extensive partner network 5. Inspire our employees with creative, high-tech environments as well as continuing education and the opportunity to work internationally
PGC helps our customers to reduce their costs by: Making it faster and easier to propose on a project – from weeks to days to hours
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Allowing real-time feasibility check of specified products
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Reducing specification and order-entry errors to practically zero
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Increasing sales team retention with easy-to-learn software that quickly gets users up-to-speed on a gamut of products
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PGC helps our customers to increase their revenues by: Improving efficiencies and cutting lead times, enabling design and sales staff to propose more and sell more
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Improving customer service through faster response, quality proposals and accurate ordering
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Ensuring worldwide access to current product information
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Delivering products to market faster
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As a result, profit margins can increase by as much as five percentage points depending on the industry. Configura uses a subscription licensing model, which ensures regular product upgrades, guarantees access to the most recent technology and engages users in product development. This business model provides Configura with continual and stable revenue, fully supporting our financial goals of sustainable, profitable growth. We will continue to achieve these goals by investing in research and development, employing a focused growth strategy, delivering value to our customers and making significant contributions to the global software industry.
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AGNES Agnes Larsson, Developer, CET Designer Platform
Working at Configura is incredibly fun, and you learn a lot! I did my master’s thesis in the R&D team at Configura and, as a student, I didn’t know what to expect at first. I only knew that I was excited to finally use the skills and knowledge which I had gained during my studies. I quickly realized that I had found the right company for me. Today, I work as a developer on the CET Designer Core Team where I add new, cool features to the program, fix bugs and recently started to do lots of SCRUM master tasks. I work together with many talented programmers who are all really passionate about software development. It’s inspiring because if I want to discuss a tricky problem, there is always someone I can talk to and exchange ideas with. It helps me to develop as a programmer.
members were very welcoming, and I was able to start implementing features for the upcoming release during my first week. It’s exciting to develop something real and to know that the code I write will simplify our users’ work. One rewarding experience was when a user contacted us after my first release and told us that she really enjoyed a feature that I had implemented. When working at Configura, you meet smiling people – people who really want to develop perfect software together – with lots of knowledge and skills. To be happy at work is very important for not only one’s wellbeing but also for doing great work and for maximizing development capacity. I am incredibly grateful to be working in such an environment!
Our programming language, CM, is very powerful. It’s easy to test the updates that I make, which makes the development process intuitive and efficient. During my studies at the university, I really enjoyed tackling a problem, investigating it and then feeling the joy of solving it. At Configura, I do exactly the same thing. It’s awesome! When I joined the CET Designer Core Team, I felt part of the team from day one. My team
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THE FUTURE OF
SPACE PLANNING IS PGC
When we think of space planning, we think of furnishing an office, a kitchen or an industrial system in ways that meet functional and aesthetic needs. It’s a description we can all agree on. But it doesn’t give the full picture of the many steps that occur in the sales process. This article is about rethinking old methods and inventing a new, streamlined sales and order process – one that covers all steps – from customer inquiry to order entry. We will talk about this process from different perspectives, all necessary in order to give the full picture of what our technology can do if implemented right.
When we meet with new customers, we usually begin by discussing what one usually associates with space planning (the old way) and what Configura offers to the customer (the new way). The gap between the two descriptions could be spelled by three letters – PGC – Parametric Graphical Configuration. It’s a good place to start the conversation, as the mindset of many is that space planning means CAD – computer-aided design. While CAD, which took off in the 1980s, has done incredible things for space planning, it’s limited in scope. The power of Configura’s PGC technology is the ability to quickly and accurately design, specify, render and order configurable products. PGC turns the old sales and order process on its head, simplifies it and creates a whole new way of working.
Let’s look at what PGC could mean for your company … Ever since we started in 1990, Configura’s business idea has been to develop solutions for companies that sell configurable system products. What signifies a system product is that the end product is comprised of a number of configurable standard components, which, in correlation to one another, have different functions and properties. We call these relationships product rules. Product rules describe how certain components fit together with other components and what happens to them when connected. To handle a system product in a logical way, one needs to define how it should work – one needs a product model that supports various system configurations and scenarios to offer to the customer.
Space planning is the process of configuring and creating an innovative design that optimizes the use of space in order to meet functional, aesthetic and environmental needs.
An example of a parametric and configurable system product is the kitchen interior. As we all know, a kitchen has a number of components – cabinets, countertops, toe-kicks, crown moulding and appliances. The majority of these components are parametric, which means they can be ordered and produced in different widths, depths and heights. If we simplify the problem, and limit ourselves to just studying a single cabinet, we quickly realize that the number of possible combinations of this cabinet is huge. Even just a few parameters can quickly create a very large number of possible options for a single cabinet. A cabinet has additional functions to fulfill – for example, different interiors and shelving, and whether it should include a sink or an integrated oven. More options include the material to use for the framework, the thickness of the wood and if there should be a front-edge trim. Aesthetics also need to be considered, including cabinet fronts and handles. Given the parametric properties of a cabinet, there are a large number of product configuration rules that define how its different components fit together.
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The product configuration rules can have their starting points in functional, aesthetic or technical production limitations. Even if something is technically possible, some combinations may not be allowed because of aesthetics or functional needs and vice versa. The example above only talked about one cabinet. It’s easy to conclude that the complexity and number of options increase exponentially for an entire kitchen. PGC solves this complicated problem. But let’s first take a quick look at how traditional CAD-based drawing programs handle the problem of millions of possible product combinations. The answer is simple – they don’t. Instead, salespeople and designers are forced by CAD-based systems to learn "all" product numbers – one product number usually represents a complete, finished cabinet – and this is clearly beyond human ability. The result? Salespeople only sell what they are used to selling.
PGC makes the difficult easy With PGC, we turn this process on its head. Instead of forcing the user to memorize product numbers, we let the software generate product numbers based on an algorithm that mirrors the options the user has made in the planning process. This means that the salesperson or designer works with concrete concepts such as the width, height, material and function of a drawing component. Valid and invalid configuration combinations within a component are described in the component’s product model, as is the product’s relation to other components. This is achieved with Configura’s unique programming language CM. From a user-perspective, there are a number of critical benefits. The components that represent real products become intelligent, which means they know how, where and when they can be used. A salesperson or designer doesn’t need to know the product details because the software handles them. Instead, the salesperson can trust that Configura’s software tracks all system product numbers, even those that are automatically given in a certain combination.
Industries that benefit from a PGC solution This fundamental benefit of a PGC-based solution means one can radically simplify the sales and order process for companies in a variety of industries, including contract furniture, kitchen and bath, laboratory furniture, shop fittings, material handling, storage, industrial processing systems, etc. Commonalities of these industries: They manufacture or sell configurable and often parametric products
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They have a need for space planning
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They produce a large number of customer proposals each year
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G P C
PARAMETRICAL
GRAPHICAL
CONFIGURATION
Products or parts that can be parametrically described exist in a variety of industries including commercial furniture, kitchen and bath, laboratory furniture and material handling. In these industries, the final customer solution typically consists of a large number of components. Each of these components can exist in a large number of different shapes or configurations. This makes the planning and specification process complicated and time-consuming for sales and order departments.
A PGC application presents a small initial graphical user inter face where each polymorphic icon represents a large number of design possibilities. Discovering these possibilities, and eventually learning the extent of the product design space, is a simple matter of playing around with these super condensed objects and allowing them to show how they function.
Product configuration is an activity of customizing a product to meet the needs of a particular customer. The process involves discovering, selecting and combining products and options for a complete and valid system configuration that fits customers’ overall aesthetical, functional and technical requirements.
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Reinventing the sales and order process The sales and order process is probably the most important process for a company. It adds revenue, initiates purchase of raw materials and transfers marketing demands to new products. Virtually all company activities stem from the sales and order process. Therefore, it must be the top priority of any organization to optimize this process. Unfortunately, not enough people realize how much room there is for improvement.
The time it takes for a newly developed product to launch is vital to success.
The old way of organizing a sales and order process With the old way of selling, a number of people are involved in a lengthy process. Most companies selling configurable system products have organized the sales process in a sequence of steps and functions, each managed by a specialist: Salespeople communicate with the customer; interior designers or engineers (depending on the industry) create the designs/layouts/renderings; additional people handle the specification and quotation work, and so it continues. PGC creates customer value. Many factors contribute to a company’s competitiveness, but one in particular stands out: how companies manage time. A company practicing good time management can charge more for products and services. Good time management makes room for investment in more services and better quality in the sales process.
Meanwhile, in the midst of this multi-step process, the customer usually has changes and more requests. Consequently, the whole process must be repeated. Finally, when the quote is converted into an order, all parts must be defined down to the smallest detail. The saying “a chain is no stronger than its weakest link” applies to this type of organization. Information needs to travel through each link in the chain, which leads to internal delays and an increased risk that information is lost or misinterpreted. This sales and order process is not only extremely time-consuming but also increases the risk of dissatisfied customers and lost business.
Customer requests are “perishable” Quote requests from customers can be compared to perishable products – they can’t be ignored, left to go stale – they must be handled before requests sour into frustrated customers who then turn to the competition for help. Organizations that deliver higher-quality information, faster than customers expect, gain a critical competitive advantage. Shorter lead times, excellent quality of drawings and quotations, and more service in the sales process result in faster, easier decision-making by the customer. When customer loyalty increases, repeat purchases and referrals rise, leading to more customers and higher profits – a positive upward spiral.
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Modularization is a prerequisite to take full advantage of a PGC solution Products can be modularized by being “built” by a relatively small amount of standard components. With just a few unique components, one can offer an infinite number of tailored and complete solutions to customers. Fewer components make production more cost-effective and the need to stock multitudes of components is minimized. Changing from an increasing amount of part numbers, your products can be represented by a limited and constant number of basic components, which simplifies handling of product data.
Time to market – a critical success factor The competition to get customers drives an ever-growing product range and diversification. Simultaneously, product lifecycles seem to continually shrink, and it becomes increasingly important to quickly release new products to market. The time it takes for a newly developed product to launch is vital to success. If the release is delayed, giving the competition a chance to gain a foothold, then profitability is at risk. Often, the biggest obstacle with a product release is educating the people who will sell the product. New system products often meet initial resistance if they are perceived as complicated. There may not be the time or desire to learn how the new product works, is used or how it can be calculated. The result can be that it takes a long time before sales of the new product pick up. The introduction is obviously simpler for a product that, from the beginning, uses a PGC solution, because the salesperson or designer doesn’t have to learn product details – these details are built into the software. A new product line can therefore be simultaneously released and directly utilized in all markets.
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Specify correctly and win the deal It is complicated and time-consuming to sell system products and, specifically, to calculate and specify components. Many companies do not have the time or resources to establish detailed specification in the quotation process, particularly if only a fraction of the quotes produce orders. This results in many companies using standard templates to handle quotations and holding on the calculations until they’ve received the orders. But the problem with standard templates is the very real possibility of over- or under-estimating true costs. Neither case is desirable.
Cut lead times through integration with ERP When a quotation becomes an order, all information needs to be entered into the Enterprise Resource Planning software. This is often the stage at which companies start to specify what has actually been sold. However, with a PGC-based solution, specifications are ready to be transferred electronically to the ERP, which minimizes lead times, often from between one to four weeks. Saving time during specification shortens time to delivery. This extra time can be used to improve production planning, resulting in better resource allocation, increased capacity utilization and lower costs. Another important advantage is that the internal control of incoming orders can be eliminated, because orders from a PGC-based solution are errorfree. The salesperson or designer can use the solution’s built-in validation functionality as necessary.
One individual can handle the entire process One individual, without significant product knowledge, can specify, calculate and quote a detailed and comprehensive system product in a fraction of the time it takes to accomplish the same work without a PGC-based solution. We call this re-inventing the sales and order process. We call this simplifying.
WE CALL THIS SIMPLIFYING. 20
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ONE CHAIR 2,304 combinations
WORKING WITH CONFIGURA HAS BEEN MORE THAN JUST A BUSINESS RELATIONSHIP. It’s a partnership in which we’re seeing great success.
3 Lumbars
Since the beginning of our relationship, the team at Configura has focused on seeing Steelcase succeed with our investment in their software. Over the years, we have continued to challenge each other with new thoughts and ideas. With Configura’s knowledge of PGC, they have helped us to move the design and specification of our products into the 21st century. With the Configura solution, our dealers have significantly raised the bar in terms of what they deliver to their customers. It’s a definite win for everyone. Brian DeRoo, IT Manager, NA Design and Specification Technologies, Steelcase Inc.
4 Frame finishes 4 Headrests
3 Arms 4 Cushions
4 Base options
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MANY DESKS
More than 4,224 combinations
CONFIGURA MAKES PRODUCT CONFIGURATION SIMPLER. Configura is about more than just selling products; it’s about the entire sales process.
8 Types of legs
8 Finishes 66 Surfaces
We’ve worked with Configura for many years now, and the software is an integrated part of all of our processes, from generating quotations to placing orders. The software lets us create orders and quotations together with our customers, and it’s also a key tool for us to ensure successful and effective production and delivery – so our customers are as satisfied as possible. Through the years, we’ve seen creative developments in both the core software and through our own customization, which has helped us to reach sales goals and improve our entire sales process. The market is constantly changing, and new demands open up new possibilities. It’s a journey and not a destination. We need to continue developing, and we think Configura can help us make it the best journey it can be. Jörgen Lundgren, Director of Business Process Development, Kinnarps
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CATALOGUES Which is the best solution for you? Configura delivers two solutions. One solution is Parametric Graphical Configuration (PGC), which is implemented through a programmed product Extension to CET Designer. The other solution is Catalogues, a database driven implementation of ‘simpler’ or so-called solitary products. These two solutions complement each other in a unique way. With the release of Catalogues, manufacturers can simply and cost-effectively store products online as drawing components. Simultaneously, CET Designer users get increased access to additional products and product lines. Together with our PGC solution, which makes sales and project handling of complex system products simpler and more time-efficient, we now have a complete offering that covers all space-planning needs – from the most simple to the most complex. The solution that is best for your company depends on the complexity of the configuration problems that you want to manage.
A completely database-driven solution Catalogues is a completely database-driven solution that has been specifically created to improve accessibility of our customers’ products in CET Designer. One fundamental aspect of the development has been to let our customers create and maintain their own Catalogues by them selves, without any need for programming knowledge. The tool that enables this is called the Catalogue Creator, a complete collection tool that efficiently structures, processes and packages product data. It also includes tools to improve quality of 3D models and their textures. All data is packaged into a product Catalogue and is published on Configura’s online Marketplace. This way, the Catalogue can be made accessible to all CET Designer users or, if the manufacturer prefers, only to a limited group. With this access, a CET Designer user can, with the help of an Extension called the Catalogue Browser, search for a specific product in a specific Catalogue. The user only needs to download the product needed for the moment. Downloaded objects are saved locally on the computer and available the next time they are used. With this streaming method, all data usage is kept down to a minimum.
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OR PGC …? For a product to be suitable for Catalogues, it should be standalone by its nature, which means that it should have only limited opportunities to interact with its surroundings. One example of such a product is an office chair. Office chairs are available in a large number of options and executions, which can all be handled with the data model created for office chairs. No matter the number of options for a given chair, the choices have no impact on the other components in the drawing.
The other end of the spectrum At the other end of the spectrum is our solution based on PGC technology. Here, in contrast to Catalogues, we have unlimited possibilities to describe how products interact in a larger system of products. An important success factor when creating a PGC solution is the degree to which the products are structured through logical modules and/or components. Obviously, the more well-structured the real product is, the easier it is to implement into programming code, and the easier it is to maintain the code. Our Catalogues and PGC solutions are complementary and ideally used together. Companies that prefer to start on a small scale can begin with the Catalogues solution and then, as the need arises, upgrade and implement products into intelligent PGC-based objects. Conversely, some organizations that have already implemented the PGC solution for complex products may stand to benefit using Catalogues for their other, simpler product lines.
!
Conclusion: With Catalogues, we satisfy our customers’ need to easily and quickly implement and maintain solitary products in CET Designer. Typical examples of these products are chairs, tables, machines, etc. Many of our customers work with complex, parametric products. Usually, these companies also have relatively large product offerings that don’t require parametric graphical configuration; in this case, our Catalogues solution is a perfect complement. From our users’ perspective, we fulfill their need to complement their quotations and drawings with simple products from a large number of manufacturers.
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ONE CABINET 28,800 combinations
3 Heights
3 Materials 10 Inserts 2 Depths
8 Widths
20 Schemes
CONFIGURA AND HAMILTON SCIENTIFIC ARE REVOLUTIONIZING THE LABORATORY FURNITURE INDUSTRY. Process simplification for customers, dealers, architects and manufacturing is the core development philosophy of Hamilton Scientific’s CET Designer Extension known as LabStudio 4D™. Being the first to market with a solution that provides parametric design combined with manufacturing integration allows Hamilton to offer unique solutions and savings to our global customers. As our partner, Configura brings experience and expertise in process simplification and development that are unparalleled. Gary Justen, Chief Technology Officer, Hamilton Scientific
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MOVABLE WALLS Unlimited combinations
CONFIGURA PROVIDES OUTSTANDING SUPPORT TO KI. This allows us to provide first-class service to our customers. Specifically, Configura’s CET Designer program consistently generates accurate specification tools, including product-realistic drawings and renderings. This accuracy and consistency gives us peace of mind, knowing that the quoting and specifying of our wall product is correct and complete before we engage our customers. Furthermore, Configura is always available and willing to listen to our needs and provide quick, simple solutions to complex problems, making it easier for our customers to do business with us. Jesse Lamberg, General Manager, KI
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REPORT ON OPERATIONS In 2013, we discovered some remarkable new opportunities. We proudly welcomed new customers in the laboratory industry, an undiscovered market in great need of PGC. It was also the year in which we developed our new Catalogues tool, which makes our solution available to a wider audience. We also continued to invest in the expansion of our new office in Kuala Lumpur, Malaysia.
SALES INCREASED BY SEK 3 MILLION Amounts in SEK M
2013
2012
Change
Consultancy
45
45
+/-0
License Sales, Support and Subscription
31
28
+3
Total
76
73
+3
In 2013, the West slowly continued to emerge from recession. Our customers remained cautious in spending money on IT infrastructure. Our original home market, Nordic customers, proved to be the strongest. The trend of our customers doing more programming in-house, using our programming tools, continued in 2013. Sales of consultancy services from our Kuala Lumpur office has begun, which is lowering costs for our customers. The net effect is that consultancy sales were unchanged from the previous year. Our goal is to serve our customers primarily with technology. We are indifferent if they buy the consultancy service from us or implement it themselves. What’s key is that content in CET Designer applications continues to grow. Users will then have more choices. A strategic aim is to increase subscriptions in which customers pay for our technology. 2013 continued to confirm the support for our software. We saw growth of SEK 3 million despite a change to user-based licenses from machine-based licenses. Total licenses decreased but were balanced by a slight price increase. Customers accepted a higher price because of more content and better service with the user-based licenses.
NET OPERATING PROFITS DECREASED BY SEK 3 MILLION: SEK 2 MILLION (5) Profits in 2013 decreased as a result of increased investments. A major investment was the new Catalogues tool, which will be commercialized in 2014. We also invested in training new staff, especially at our Kuala Lumpur office. A main factor hurting profitability has been slower growth in subscription revenues, due to switching from machine-based to userbased licenses. Our production center in Kuala Lumpur will, in the future, provide our customers with services at more competitive prices. The Catalogues tool will start to generate revenue in mid-2014. Customers want user-based licenses, and growth in license subscriptions will rise from a one-time adjustment in 2013.
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EVALUATION OF RISK AND OPPORTUNITY Configura is the main asset for our shareholders. It is therefore natural that the company adopts a low-risk strategy. Our longterm business relationship with our customers also depends on the certainty that Configura will survive in the long-term. The company has not taken on any financial debt and presently has financial assets exceeding 15 percent of revenues. The subscription model ensures stable revenues as proven even during slumps in business cycles. We took a calculated risk in changing the format of the subscription model, from machine-based to user-based licenses. User-based is the logical choice as users are now working on multiple devices at varied locations. As predicted, the move to user-based licenses decreased the total number of licenses but promotes long-term sales and profitability. The quality and scope of our software has increased significantly over the years and, with it, our customers’ acceptance of a slight price increase. The short-term net effect in 2013 was decreased sales growth and profitability. We see this as a one-time adjustment and expect to be back on the normal growth path in the coming years. The total number of licenses decreased by 203 because of the change in the license model. Total numbers of paying users are near 10,000. Five main customers dominate our sales. Our revenue stream is spread among various sectors and regions. Sales in Europe and the rest of the world are slowly increasing as our customers and international base increase.
9,381
The subscription model, rather than license sales, is beneficial for our customers. Users always have access to the most updated software version, and subscriptions can be terminated at any time, which means the cost can continually be compared to the benefits that the software delivers. It has been a proven, stable revenue for Configura over the years. The new office in Kuala Lumpur, Malaysia, has a lower cost base than the other offices. The Malaysian currency is linked to the US dollar, which decreases Configura’s aggregate currency exposure. Our presence in Asia makes the company more global and efficient and thus less risk-exposed. We anticipate local sales in Asia to increase.
2009
2010
2011
2012
2013
LICENSES 34
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SEGMENTS
REGIONS
CUSTOMERS
Commercial Furniture, 57% Industrial Machinery, 16% Kitchen and Bath, 14% Material Handling, 9% Construction, 2% Laboratory and Healthcare, 2%
The Americas, 40% Sweden, 34% Europe, 16% Nordic countries, 10%
1–5, 48% 6–10, 20% 11–15, 13% 16–20, 8% 21+, 11%
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2013
HIGHLIGHTS The sixth annual CET Designer User Conference The sixth annual CET Designer User Conference was held on October 9-10 at DeVos Place Convention Center in Grand Rapids, Michigan. The sold-out conference attracted almost twice the number of attendees than the previous year’s conference. More than 225 people attended – office furniture manufacturers, dealers and interior designers – some from as far away as Hawaii, Mexico and Canada. The keynote speaker this year was Irene Etzkorn, one of the world’s foremost authorities on how to simplify. She is chief clarity strategist for SiegelVision based in New York City where she consults Fortune 500 companies and recently co-authored the book Simple: Conquering the Crisis of Complexity with Alan Siegel.
Configura released CET Designer 4.2 With the release of CET Designer 4.2, the first part of a brand-new Catalogues solution was introduced. The solution gives manufacturers of solitary products a fast track for getting products into CET Designer. The product data is stored in an online database managed by Configura and made available to thousands of CET Designer users around the world through Configura’s Marketplace. The second part of the solution, the Catalogue Creator, will be released in June 2014.
New customers Configura welcomed De Pere, Wisconsin, USA-based Hamilton Scientific as a customer in July 2013. A global leader in laboratory furniture, the company sells its products through an extensive dealer network to education, healthcare and industrial markets. Hamilton Scientific’s products include adaptable workstations, wood and steel casework, fume hoods, work surfaces, fixtures and accessories. The company’s new CET Designer Extension will be used to specify these products. The Extension will launch in 2014.
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Configura signed Dayton, Ohio, USA-based Midmark Corporation in August 2013. Midmark provides innovative products and solutions to human and veterinary healthcare professionals around the world. The company is dedicated to redefining the future of the clinical space and making a positive difference in healthcare. Offering full lines of exam and procedures tables, as well as workstations, casework, instrument processing, digital diagnostic solutions and more, Midmark improves workflows and enhances patient-caregiver interactions. Midmark’s CET Designer Extension will streamline Midmark’s space-planning, sales and ordering processes. The Extension is expected to launch in 2014. Tranquil Systems International, LLC, based in Clare, Michigan, USA, became a Configura customer in September 2013. The company develops and markets wall systems worldwide. Configura’s CET Designer solution will help Tranquil with filling a gap in the growing marketplace around demountable walls. Designed by acoustical engineers and architects to provide quiet and secure space division without compromising aesthetics, Tranquil’s walls are used in office suites, healthcare environments and executive conference spaces, and to divide leased spaces. The company’s CET Designer Extension will be used for designing, specifying and visualizing Tranquil’s wall systems in these spaces. Implementation of products into CET Designer occurred in 2013, and the Extension is planned to release in 2014. We’re very pleased to help Tranquil Systems International, and all of our customers, in support of their mission.
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TOBIAS Tobias Wester, Chief Information Officer
In 2006, when I started at Configura, I saw an interesting company that invested in technologically advanced development with a potential for growth. I knew at once that this would be an exciting journey to be a part of. Eight years later, I still see the elements that attracted me from the beginning. Big visions, curiosity and forward-thinking attitudes motivate me and describe Configura. What we do at Configura is fun, and I’m a man that likes to have fun. Today, I work as the chief information officer and am responsible for Configura’s entire infrastructure. I’m also part of the leadership group where I support the CEO in strategic development of the company. During the last year, I have taken on a sales role, which has involved some traveling to learn more about our current and prospective customers.
At Configura, we’re always aiming to get a little bit better at what we’re doing. If we’re faced with an issue that we haven’t dealt with before, we simply learn how to solve it. I’m surrounded by very talented colleagues who, through their engagement and drive, motivate me to improve what I contribute to Configura’s continued growth. New technologies, solutions and challenges encourage us as a company to continue our development together with our customers. I’m curious to see what’s around the next corner, and I enjoy being a part of the team that takes on these challenges.
Working at Configura is challenging because we’re always looking for solutions that can help our customers to become more efficient. We have customers in many different industries – all facing a variety of problems – and customers within the same industry who also have unique problems that they need us to solve. This diversity of work makes our job complex but, at the same time, more challenging and fun.
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MARKETING CHANGE became the mantra in 2013. Our mission: Convincing manufacturers, dealers and designers to CHANGE to Configura’s solution. CHANGE is scary. CHANGE is also exciting – both a challenge and an opportunity to shelve the status quo for something better. Of course, changing to Configura is the point. But this year, we were blunt about it. CHANGE became an integral message in Configura’s marketing and sales efforts. Here are the highlights:
The sixth annual conference broke attendance records. More than 225 users and manufacturer partners attended the event. In addition to being a networking and learning opportunity, the conference reinforces Configura’s vision of making Parametric Graphical Configuration available worldwide. In fact, this year’s conference was such a success that we’re holding the seventh annual event in Grand Rapids and increasing registrant space. The 2013 conference started with an array of exciting welcome events, exposing attendees to Grand Rapids’ internationally known ArtPrize competition, its storied furniture industry history, incredible architecture and the myriad microbreweries that have earned Grand Rapids the title of Beer City USA. Over two days, we held more than 15 breakout sessions led by the Configura team and CET Designer users. The keynote speaker was Irene Etzkorn, author of the book Simple: Conquering the Crisis of Complexity. Another notable speaker was BIFMA President and izzy+ CEO Chuck Saylor who spoke on the State of the Furniture and Design Industry.
Direct engagement
Public relations, marketing and advertising
Our top strategy of getting people to change to Configura is direct contact. We met with manufacturer prospects. We traveled to potential customers’ showrooms, often with our manufacturer partners. We had multiple faceto-face meetings. In the case of dealer prospects, we held CET Designer training sessions. We supplemented our in-person meetings and training with follow-up materials and virtual training.
Configura’s efforts included publicity and media relations, resulting in major articles and ongoing mentions in such industry publications as Metropolis, Contract, Designer Pages, Interiors & Sources, MMQB, officeinsight, otto-otto and OFDealer. With the user conference held in the same city in which Configura has its North American office, we invited local media to attend, resulting in coverage in The Grand Rapids Press, MLive.com and television station WZZM13.
The result has been new manufacturer customers and CET Designer users. Configura’s twice-annual Partner/Manufacturer Roundtable Meeting also served as an important marketing opportunity. The meetings bring together those who have invested in the Configura solution. The spring meeting was held in March in Grand Rapids, Michigan, USA. Held in tandem with the spring meeting was Configura’s annual North American Developers Conference. The fall meeting was held in conjunction with our annual CET Designer User Conference. To both meetings, we invited key manufacturer prospects so they could learn more about our vision and hear directly from the manufacturers who have already changed to the Configura solution. The CHANGE theme continued with our CET Designer User Conference. After five years in Las Vegas, we asked users to CHANGE IT UP in Grand Rapids. The city is not only home to Configura’s North American office but also to the world’s largest office furniture manufacturer, Steelcase. Another global furniture manufacturer, Haworth, is headquartered about 30 minutes from Grand Rapids. Both manufacturers are Configura partners. Many other contract furniture manufacturers are located in West Michigan.
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A big new product announcement was Catalogues, Configura’s fast and easy way for new manufacturers to get started with CET Designer. We used the CET Designer User Conference to introduce Catalogues and followed up with media relations and advertising. As part of our public relations and marketing efforts, we hired a social media expert who understands both North American and Swedish audiences. Because of her efforts, we’re engaging more fans and having more conversations than ever on a variety of social media platforms, including: www.facebook.com/cetdesigner www.twitter.com/configura www.twitter.com/cetdesigner www.youtube.com/configuraAB
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ÅSA Working at Configura is both a challenge and a creative paradise. I interact daily with a variety of personalities, so each day offers new problems to solve and new solutions to implement. I especially love the intricate tasks in which I might need to do some detective work. I usually say that Configura is my first real job. I’ve previously had several part-time jobs, summer jobs and internships, but this is the first time that I know where I’ll be a year from now. Like most people, I had no idea what I wanted to do when I first applied to college. I started out as a business major but, during my first semester, realized that I wanted to work in a more creative field. I tried programming, which was fun, but not enough to keep me interested beyond a few introductory classes. After a few trials and errors, I narrowed it down further: I decided to combine my passion for writing with my interest in design and web. Marketing for a small software company proved to be a perfect match.
Åsa Hilmersson Marketing Communicator
GAME-
CHANGER
with the web team, so I sometimes get to help develop parts of Configura’s website and create event pages, which is fun. But my work isn’t only about creating content; it’s also about the bigger picture – creating strategic marketing ideas and solutions for executing them. Configura gives me the opportunity to implement my own ideas and feel valued, as opposed to being “just a number” at a large corporation. Doing something I love is a great motivation in and of itself, but the immediate response that I get from coworkers and users makes it all so much more fun. I’ve always been the overachieving type, and I rarely feel completely finished with anything, because there’s always something to tweak to make it better. At Configura, it’s easy to be proud of one’s work because we deliver great solutions. At the same time, we’re always challenged to make everything a little bit better. This “We’re doing great stuff, now how can we make it better?” attitude fits me perfectly.
At Configura, I can combine all of the things that I love doing. I write everything from technical documents to fun Facebook posts, create all kinds of marketing materials for print and web, and improve my newly found video skills. My work also goes hand-in-hand
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Marketing communications tactics in 2013 included our annual report, brochures, monthly calendars, e-newsletters and message alerts built into the software. Configura launched an advertising campaign in 2013 with the slogan MAKE THE CHANGE. Print and digital ads, targeted to the North American contract furniture market, appeared in such publications as MMQB, officeinsight, Metropolis, Contract and Interiors & Sources.
SUPPORT & TRAINING
NeoCon In 2013, Configura participated in its 12th NeoCon World’s Trade Fair in Chicago, the largest exhibition of contract furniture and related products of its kind in North America. Our booth, which had been updated the year before, received some additional tweaks that played up the CHANGE theme. CET Designer users attending NeoCon were invited to register at Configura’s booth for the CET Designer User Conference and to also enter a drawing for a free trip (hotel and airfare) to the conference. And, as in years past, we held a cocktail party in the booth – an event that many NeoCon attendees look forward to.
Memberships In North America, Configura continued its memberships in the Business and Institutional Manufacturers Association (BIFMA), Office Furniture Dealers Alliance (OFDA), International Interior Design Association (IIDA) and other associations related to the contract furniture, architecture and design, and technology industries. Memberships in these organizations help us to stay current with industry trends and keep in contact with industry leaders.
The Configura Support and Training team is dedicated to helping users learn and implement CET Designer in their daily processes. Our team is comprised of experts to help with that implementation. We’re not only experts in CET Designer technology; we’re also knowledgeable about interior design, the furniture industry and information technology. We know our users make a strategic business decision when purchasing our software, and we want to make that decision easy to implement. CET Designer training includes Beginner, Advanced and custom classes to meet our users’ needs. Our in-person Beginner and Advanced classes are certified through IDCEC (Interior Design Continuing Education Council) for participants to earn Continuing Education Units for licensing or membership requirements. In 2013, we trained more than 400 designers with in-person and virtual classes throughout North America. We’ve also expanded our webinar and self-study offerings to ensure we have flexible options available for all users, regardless of experience or location. Support of the core CET Designer program is included free with the purchase of a license. The Support team is available for users to ask questions and report issues from 8 am – 8 pm ET and from 8 am – 5 pm Central European Time. A primary goal for the Support team is to provide world-class customer service. We strive to make each encounter an easy and enjoyable experience while building relationships with our users. The Support team also acts as a liaison between our customers and the Configura programmers, so users’ requests and ideas can be incorporated as features in future releases of the program. In 2013, we began offering Extension-specific support for those partners who engaged the Configura team to provide a high level of customer service. We held the sixth annual CET Designer User Conference in October 2013 in Grand Rapids, Michigan, USA. More than 225 participants attended this educational two-day event to learn, network and share. Once again, several CET Designer “Power Users” led breakout sessions, teaching and sharing with their peers the best practices and methods of using CET Designer. Representatives from 10 partner companies attended the conference.
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PY
Py Modin License Administrator
I’ve worked at Configura since 2007 and, in my position, no day is like the other. One day I’m ordering office materials and greeting customers, and the next day, I’m checking banking accounts and sending invoices. I’m in charge of all of our licenses on our three platforms: CET Designer, Configura and InstantPlanner. That’s almost 10,000 licenses for which I administer and handle all invoicing. I also have daily contact with our customers, answering questions and reconciling monthly reports. Let’s just say that it can get pretty busy. I’m a part of the administration team. We work closely together and also have a lot of practical assignments. For example, I’m in charge of taking care of our Linköping office and ensuring it’s clean, functional and a nice place to be for our employees and visiting customers. At Configura, each day is filled with new surprises and challenges. I like having many “balls in the air,” and it’s inspiring to work for a company that’s innovative and forward-thinking. When I first started at Configura, my tasks were mainly to receive orders, order the correct hardware locks, code the locks and send them to customers. I still do this to a degree, but my job description has changed dramatically in the past few years.
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GAME-
CHANGER
We are moving over to a user-based system in which customers can administer their own licenses, and I’m really excited about this change. It’s fun to witness the development of the company and how it transforms my job to something new, with different challenges than I had before. Some Fridays, we get the opportunity to test new functions in the software. I truly enjoy this since, even though I’m not a programmer, I still get to be a part of and learn about our software and the cool things that we’re actually creating. I also find it exciting that I don’t need to go very far to see how our software is helping both companies and people. For example, when my husband and I bought our house in 2008, we found the drawings of the kitchen with the CET Designer logo on them (our kitchen had been designed with our software!). When we went to Marbodal to buy some additional parts, it was easy for the salesperson to find the old drawings and make the additions. On the spot, we got to see 3D renderings of what the end-result would look like, which helped us tremendously in making some important decisions. It’s nice to know that I’m a part of creating that service for people.
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RESEARCH & CET DESIGNER PLATFORM
CONFIGURA PLATFORM
In 2013, we continued to add value to the CET Designer experience. We released the Catalogue Browser, an Extension that lets our users browse through manufacturers’ Catalogues and place their products in CET Designer. A Catalogue is a collection of a manufacturer’s products, stored in an online database and downloaded as needed. The simplicity of Catalogues has made it an easy, fast and affordable solution to quickly get products into CET Designer.
Our biggest highlight this year was the launch of the Configura 3D Walkthrough, a new feature that lets our users show their customers exactly what their space will look like. Moving around in the drawing, adjusting speed, turns, climbs and even shadows all contribute to a perfect presentation. We are very excited about this feature and hope many of our users will benefit from it.
A new Utility Extension with human models became available for all users. Adding humans to a drawing is a great way to make it come alive and very useful for scale comparison. Our Photo Lab keeps growing and, in 2013, we added a ghost-rendering feature. Ghost rendering is perfect for creating renderings where specified objects in a drawing are partially to fully transparent. Our users are really excited about this feature as it simplifies the process of creating seethrough panels. Two new additions to CET Designer that work hand-in-hand were the Material Explorer and the Material Lab. The Material Explorer is a built-in tool that offers an enhanced experience for browsing and viewing materials, while the Material Lab lets users experiment with existing materials or create entirely new ones. To simplify everyday tasks for our users, we made it possible to load drawings containing objects from Extensions that a user may not currently have installed. This ability has improved the work of our users since they can always open drawings and more easily share projects between colleagues. Additionally in 2013, we added a new style editor. With the style editor, users can add their own styles for different component groups, such as text, lines or dimensions. Introducing this feature is another step toward making CET Designer even more customizable.
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DEVELOPMENT
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Launching our 3D Walkthrough was possible because of our ongoing implementation of the RED 3D engine, a project that we will finalize during the next year. This engine will play an important role as it will let our users produce 3D images with even higher rendering quality than before. In 2013, we also launched the new Image Measuring tool, which verifies the dimensions and scale of a drawing compared to its original. We have also added support for pasting images anywhere in the drawing area by using drag-and-drop functionality or by pressing the Ctrl + V short command. This feature lets user choose images from PDFs or other documents and use in the Configura software. Also introduced was the option to export single components as 3D, which makes it possible to prepare models for use in, for example, Trimble 3D Warehouse. To improve user experience and decrease the number of clicks, we modified the undo functionality to perform single undo actions. Several accessories were updated and now have a sleeker and more modern appearance. We also added a set of human 3D models to help create even more realistic drawings. These models include a number of different humans in 3D, either standing or sitting and wearing different outfits. Last, but surely not least, we keep bringing modifications and new functionality to the internal development environment, making it easier and faster for our developers to perform their everyday tasks.
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JAKOB Jakob Kallenbäck, Application Consultant, Configura Platform
It’s common knowledge that a university education never really prepares you for the vastly different tasks that you will encounter in the workplace. So I was relieved to find that I wasn’t as lost as I expected to be when I started at Configura. I’m one of the fairly new people here, and I was a bit nervous about my programming skills when I first started. Since this would be my first real job as an engineer, I wasn’t sure what to expect, but it turned out that Configura is such a friendly workplace. I got into it very fast. A short introduction helped me to relax and feel that I could really add value to the company. I quickly felt that I could add to the mix and work well with both the assignments and the people. The company’s “quality before quantity” vision is something that I feel very strongly about. You don’t see this perspective at a lot of other software companies.
I’ve always loved a challenge and creating things. That, and my love for technical stuff, drove me to programming. One of the most rewarding aspects of working at Configura is that every day, I see my work come to life. I also like that I get to collaborate with our customers, helping them to solve their problems. The fast turnaround, from getting specifications to actually releasing software updates, makes you stay on top and feel like you are really helping the customer. Right now, I’m heading for project management. Project management would mean more contact with our customers and would let me help them to plan for and customize their software.
I’m an application consultant for the Configura platform and work with our customers who sell office furniture. It’s my responsibility to add and update products for our customers. The tasks can vary from simple and short to long and advanced, and it makes me feel valued that I, as a new employee, can take on these tasks.
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LINKÖPING “Where ideas become reality” – it was in this tech-savvy town in Sweden that the Configura journey started. Half an hour from the distinct cathedral skyline of Linköping is the quiet Lake Vättern. Tall pine trees cast shadows over a small summer cottage situated by the water. It was in this calm environment that Sune, Göran and Johan started it all. We quickly outgrew the summer cottage that served as Configura’s original headquarters. Twenty-four years later, we’re closer to the famed cathedral spire and operating in a multi-story former school building in the center of Linköping. We’ve been at this location since 2002. This beautiful, historic building is Configura’s largest office and serves as headquarters. Situated two hours from Stockholm and three hours from Göteborg, Linköping is between Sweden’s largest cities and is an excellent place to be for an information technology company.
country. It’s where both Johan and Göran started their programming careers, a driving factor of our continued cooperation with the university. Many people working at Configura once studied at the university, and our positive experiences through the years have encouraged us to continue investing in thesis work for students and recruitment of newly graduated young professionals.
CENTRAL STATION
FIELD OF STÅNGEBRO
Most of our ideas and projects have at some point traveled through this office. It’s the home of 39 programmers, some working directly with customers, and the majority of our administration, web, sales and marketing teams. Our Linköping office is the engine that makes the whole machine go around.
The University of Linköping is one of the largest and most notable technology universities in the Linköping
SAINT LARS CHURCH
YEARS OF OFFICE
24
NUMBER OF EMPLOYEES
MAIN SQUARE AVERAGE AGE
58
35
OFFICE BUILDING BUILT
PROGRAMMERS
ATTENDED LINKÖPING UNIVERSITY
72%
THE OFFICE
1869 Thirty-nine GARDEN SOCIETY
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GÖTEBORG THE OFFICE
Also known as “Little London” and now ranked among the 15 most innovative cities in the world, Göteborg is the location of our smallest office. Delaval, PH Nederman & Co. and Kinnarps, and the two leading kitchen manufacturers in Sweden: Ballingslöv International and Marbodal.
As we entered the new millennium, now more than a decade ago, the techy city Linköping had been plucked clean of talent. Programmers were (still are!) hugely in demand, and Linköping University couldn’t produce new engineers fast enough. With a need to grow, we turned to the beautiful city of Göteborg, home of Chalmers University of Technology.
BANANA PIER
OPERA HOUSE CENTRAL STATION
CITY HALL
The Göteborg office has since then played an important role for sales and Research & Development at Configura. Many of our new features and functions, such as 3D PDFs and Photo Lab, have partly been developed in this office. The majority of our European customers, in a broad range of industries, have signed through our Göteborg office, including global companies
AIR DISTANCE TO HEADQUARTERS
134
15
Linköping
215
miles
YEARS OF OFFICE
CATHEDRAL PARK
Today, three stubborn “göteborgare” work in the Göteborg office, making it Configura’s smallest office. The advantage of being spread across the country helps us to better accommodate customers. The small but strong and brilliant team still works mainly with R&D and sales across Europe.
km
NUMBER OF EMPLOYEES
12
PROGRAMMERS
Three 2
ATTENDED CHALMERS UNIVERSITY OF TECHNOLOGY
66%
Göteborg
OFFICE BUILDING CALLED
the
Lipstick
floor
FESKEKÔRKA 54
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GRAND RAPIDS Home to the largest contract furniture manufacturers in the world, the magnificent state of Michigan was an obvious choice for our next office. Michigan is known for its “mitten shape” – in fact, sometimes it’s called The Mitten State – and a promise of snowy winters, but it wasn’t the familiarity of a cold climate that inspired us to open our next office in Grand Rapids, Michigan, USA. The decision was rather a strategic move based on multiple needs. In 2005, it was clear that Configura needed to expand beyond Europe to meet the demands of the industries that we serve. Success in the United States would help us to eventually penetrate other markets, and we knew that we needed to be “on the ground” for our customers in order to successfully implement our solutions.
CITY HALL
furniture market. As we began to collaborate with West Michigan-based furniture giants Steelcase and Haworth, the city of Grand Rapids – the contract furniture capital of the world – was a natural choice to locate an office. The location has helped us to flourish. Today, we work closely with Steelcase and Haworth, headquartered in Grand Rapids and nearby Holland, Michigan, respectively, and, from this office, we can provide support for our users all over North and South America, from Fairbanks in Alaska to Montevideo in Uruguay. Grand Rapids has also proved to be a great destination for our annual CET Designer User Conference.
Choosing the fast-growing, cosmopolitan city of Grand Rapids was a simple yet strategic move. We had been working with several companies in the area, including storage solutions company Borroughs, and were entering the North American
APPLIED TECHLOLOGY CENTER ROSA PARKS CIRCLE
Linköping
GRAND VALLEY STATE UNIVERSITY
Grand Rapids
AIR DISTANCE TO HEADQUARTERS
4,127
miles
YEARS OF OFFICE
9
6,641 NUMBER OF EMPLOYEES
56
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PROGRAMMERS
Nineteen 10
CET DESIGNER USERS SUPPORTED
71%
VAN ANDEL ARENA
km
THE OFFICE
AVERAGE MONTHLY SUPPORT CALLS
1,472
J
F
M
A
M
J
J
A
S
O
N
D
AMTRAK GRAND RAPIDS
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KUALA LUMPUR THE OFFICE
PETRONAS TWIN TOWERS
With tall skyscrapers and a population twice as big as all of our other cities combined, this concrete jungle was our first step into becoming a truly global company. Our goal is to provide first-class service in Asia and to cost-effectively serve all of our customers. One of our biggest clients, Steelcase, has an office in Kuala Lumpur, and we saw a great advantage in continued cooperation with them beyond U.S. borders. Today, we have developers in Kuala Lumpur that work closely with a number of customers. It’s also here that all software undergoes extensive testing and quality assurance.
Configura’s Malaysian location is pretty amazing – a benefit of the incredible yet affordable development occurring in this bustling city. Our office is a luxury apartment in the center of Kuala Lumpur. Only two years old, it’s our newest office, but our history in Malaysia goes much further back.
CITY PARK
It was on a corporate retreat to Malaysia back in 2000 that Configura’s board of directors decided to expand into the North American market. Twelve years later, once the Grand Rapids office was set up, Kuala Lumpur was the next step in making Configura a global company. The Kuala Lumpur office is not only about technology, transfer of technology and know-how; it’s also about an expanding Configura. We wanted to expand our service network over all time zones in order to provide better service to our current customers and simultaneously pursue the growing Asian market.
RAJA CHULAN MONORAIL STATION
Kuala Lumpur
PAVILION KUALA LUMPUR
AIR DISTANCE TO HEADQUARTERS
5,920 YEARS OF OFFICE
2
BUGS FOUND BY QA
ROYAL SELANGOR GOLF CLUB
58
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Linköping
miles
9,527
NUMBER OF EMPLOYEES
11
1,686
km
PROGRAMMERS
Seven
OFFICE BUILDING CALLED
Troika
the
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CORPORATE Configura’s corporate climate is characterized by one word: empowerment. Empowerment means we feel a strong work enthusiasm and satisfaction, have a high level of responsibility and loyalty, experience few conflicts and see a high common productivity. To achieve these results, we live by our core values.
WE ARE INNOVATORS We founded Configura because we saw a need for a new product that had not yet been invented. This curiosity for new solutions still plays a prominent role at Configura. We continually seek new ideas and creativity in all of our employees. Our employees are inspired, engaged and work for new-thinking and lasting solutions that will increase business not only for Configura but also for our customers around the world.
WE ARE TEAM PLAYERS At Configura, we are prestigeless, which means that we look to Configura’s overall vision before personal gain and are open to reevaluation. We foster good communication and collaboration across teams, and we all work with the entire company’s best interests in mind. Therefore, all of our employees have a strong will to help each other to find the best possible solutions. To achieve good team spirit, we work in small, flexible teams that can respond quickly to customers’ needs and changing market conditions, and where each individual is valued and encouraged to contribute with his or her specific ideas and abilities.
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CLIMATE WE ARE COMPETENT Configura’s employees come from varied academic and professional backgrounds. This functional mix of competencies and personalities in each team delivers organizational results and contributes to each associate’s professional development. We pride ourselves on a low employee turnover, which has led to a high level of expertise and competence. We continue to invest in future development through education, training and companysponsored physical fitness programs.
WE ARE LEADERS Each individual plays a valuable part in the development of Configura. Our leaders inspire and motivate, because their main responsibility is to empower all employees. Our leaders are role models who encourage every employee to take initiative and responsibility for individual projects.
WE ARE COMMITTED We’re driven by innovation, longevity and simplicity, and we have high ambitions for the future. As innovators in our field, we don’t just settle for being leaders; we also want to be the obvious choice for any company in need of configuration and space-planning solutions. We’re on our way to achieving this goal. And we’re having fun getting there.
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2013: 92
2008: 73
FUNCTION
EDUCATION
AGE
GENDER
Consultants, 43% Research and Development, 22% Support and Training, 15% IT, 7% Marketing and Sales, 7% Administration, 6%
Academic studies: 4 years or more, 63% 3 years or more, 17% Up to 3 years, 6% None/less than 2 years, 14%
20–29, 31% 30-39, 49% 40–49, 14% 50–59, 6%
Male, 74% Female, 26%
2002: 52 2001: 50
2004: 33
1999: 26
1997: 15
EMPLOYEES 1990-2013 1994: 3 62
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Configura participates in developing a project designed to save rainforests and decrease emissions of greenhouse gases. In 2012, we joined a project in Lhoknga, situated in Aceh, a region in Indonesia. Partly sponsored by Sida (Swedish International Development Agency), the project lost momentum in 2013 because incentives from supranational and national organizations were unavailable and funding for Reduced Emissions and Deforestation and Degradation (REDD) projects was postponed. However, a new REDD agency with substantial resources donated from Norway was created in early 2014. This has raised our hopes. We at Configura have investigated developing a software module that calculates how much CO2 would be emitted from specified products (for example, from office furniture or kitchen and bath cabinets). Unfortunately, it’s been difficult to reach a reasonable consensus of how calculations should be done. Europe and Sweden have a different view than the United States of how emissions should be calculated. For example, wood and bioenergy are considered almost carbon neutral in Europe but not in America. Instead, the American focus is more on recycling. We need to find a pragmatic and flexible model that can be used in our different markets. Standard green-building certifications such as Leadership in Energy and Environmental Design (LEED) and Building Information Modeling (BIM) give some direction.
BANDA ACEH
LHOKNGA MALAYSIA
ACEH
Our vision is for customers to use our calculated emission values as guidelines, so they design solutions that emit less carbon and/or compensate for emissions. Compensation would be to buy so-called Voluntary Carbon Credits, which are used to decrease greenhouse gases by funding such efforts as the planting of trees.
GUNUNG LEUSER NATIONAL PARK
KUALA LUMPUR
We believe the “Swedish Forestry Model” is very efficient in reducing greenhouse gases since it makes it profitable to plant trees. We’re developing a pilot in Aceh where villagers and farmers would be sponsored to plant trees on degraded land and offered a good purchasing price for future timber. They would in return be asked to commit to saving rainforests. Purchased cultivated timber would be used at a sawmill, and residues would be used instead of coal for energy. In 2014, we’ll be discussing a solution with the REDD agency in Jakarta and in Aceh. We’d really like to get moving on this important initiative in 2014.
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CORPORATE SOCIAL RESPONSIBILITY CONFIGURA ANNUAL REPORT 2013
SUMATRA, INDONESIA
2013 CONFIGURA ANNUAL REPORT
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BOARD AND EXECUTIVE MANAGEMENT
66
SUNE RYDQVIST
JOHAN LYREBORN
GÖRAN RYDQVIST
Chairman, born 1938. Entrepreneur and inventor. Sune has been a driving force in the development of Configura.
CEO, born 1963. M.Sc. Computer Science and Engineering, Linköping University of Technology.
VP Research & Development, born 1964. M.Sc. Computer Science and Engineering, Linköping University of Technology.
JOHAN BENGTSSON
NIELS MADSEN
VP Marketing, born 1960. M.Sc. Mechanical Engineering, Chalmers University of Technology.
CFO, born 1961. MBA, INSEAD. B.Sc. Stockholm School of Economics and Business Administration.
CONFIGURA ANNUAL REPORT 2013
FINANCIAL REPORT 2013
2013 CONFIGURA ANNUAL REPORT
67
Five-Year Summary
Consolidated Income Statement
Summary of the Configura Group’s financial development, 2009-2013 2013
2012
2011
2010
76,191
72,664
64,602
60,508
62,881
2,340
4,611
3,800
2,164
4,672
28,538
26,548
21,311
18,296
21,669
Average number of employees
92
81
78
76
69
Equity/assets ratio, %
32
39
47
49
53
Operating margin, %
3
7
5
3
7
Net sales, SEK T Profit/loss after financial items, SEK T Total assets, SEK T
2009
Definitions of the key ratios used are given in Note 1.
SEK thousand
Note
2013
2012
1
Operating income Net sales
76,191
72,664
Change in work on contract
-2,092
584
Total income, etc
74,099
73,248
Operating expenses Other external expenses
-20,650
-19,390
Personnel expenses
-51,132
-48,574
Depreciation of tangible fixed assets
2,3 4
-272
-213
Proposed appropriation of profits
Other operating expenses
-19
-66
The Group’s non-restricted reserves according to the Consolidated Balance Sheet totaled SEK 6,334 thousand. There are no proposed allocations to restricted reserves.
Total operating expenses
-72,073
-68,243
Available for appropriation by the Shareholders’ meeting: Retained earnings, SEK 304,286.93 Net profit for the fiscal year, SEK 4,823,871.10
5,128,158.03
The Board of Directors and the CEO propose that the profit be appropriated as follows: Dividend to the shareholders, SEK 4,008,000.00 To be carried forward, SEK 1,120,158.03
5,128,158.03
Total operating income
2,026
5,005
Income from financial investments 5
264
32
Other interest income
Income from current investment
269
69
Interest expense and similar financial items
-219
-495
Total income from financial investments
314
-394
Income after financial items
2,340
4,611
Tax on income for the year
6
Net income for the year
-448 -1,298 1,892
3,313
Earnings and financial position The Company’s earnings and financial position at year-end are presented in the following Income Statements, Balance Sheets and notes thereto.
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CONFIGURA ANNUAL REPORT 2013
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69
Consolidated Balance Sheet SEK thousand
Note
12/31/2013
12/31/2012
SEK thousand
Note
12/31/2013
12/31/2012
1
ASSETS
EQUITY AND LIABILITIES
Fixed assets
Equity
12
Share capital
200
200
Restricted reserves
2,588
3,196
Non-restricted reserves
4,442
3,509
Net income for the year
1,892
3,313
Financial fixed assets
Total equity
9,122
10,218
Other long-term receivables
550
550 550
Provisions
Tangible fixed assets Equipment, tools, fixtures and fittings
4
7
Total fixed assets
868
556
868 556 550
1,418
1,106
Deferred tax liabilities
719
890
719 890
Liabilities Current assets
Bank overdraft
Inventories, etc.
Finished goods and goods for resale
Work on contract
8
84
84
-
137
84 221
11
-
614
- 614
Current liabilities Advance payment from customers
8,867
6,827
Work on contract
8
1,173
-
Current receivables
Accounts payable - trade
2,857
1,477
Accounts receivable – trade
7,512
8,355
Income tax liabilities
8
450
836
1,096
4,956
4,976
Total current liabilities
18,697
14,826
Total equity and liabilities
28,538
26,548
Current tax assets
865
80
Other current liabilities
Other current receivables
144
45
Accrued expenses and deferred income
4,386
2,433
Prepaid expenses and accrued income
9
12,907 10,913
Current investments Other current investments
10
13
-
588
- 588
Pledged assets
Floating charges for bank overdraft facility
Cash and bank balances
2,000 2,000
11
14,129 13,720
2,000
2,000
70
Total current assets
27,120
25,442
Total assets
28,538
26,548
CONFIGURA ANNUAL REPORT 2013
Contingent liabilities None
None
2013 CONFIGURA ANNUAL REPORT
71
Notes for Group Note 1
Accounting principles The Company's annual report has been prepared in accordance with the Swedish Annual Accounts Act and the general advice and guidelines of the Swedish Accounting Standards Board, except for BFNAR 2008:1 Annual Reports in smaller listed companies (K2 rules). The accounting principles remain unchanged compared with the previous year. Consolidated statements
Work in progress Income from consultant assignments is recorded according to Income Tax Legislation. Income and expenses from assignments secured at a fixed price are recorded during the duration of the assignment as work on contract in the balance sheet, and are accounted for profit when the assignment is concluded. Balanced work in progress is reduced with anticipated loss. Income and expenses from assignments on hourly basis are accounted for in the pace the assignment is completed and invoiced for, therefore there is no balance item regarding these assignments.
The consolidated accounts include the subsidiaries in which the Parent Company, directly or indirectly, holds more than 50 percent of the votes.
Fixed assets
The consolidated statements have been prepared according to the acquisition accounting method. This means that upon acquisition, a subsidiary company’s equity, established as the difference between the real value of assets and liabilities, is eliminated in full. The Group thus only includes the part of the subsidiary’s equity that has accrued since its acquisition.
Equipment, tools, fixtures and fittings
If the consolidation acquisition value of the shares exceeds the value of the subsidiary’s net assets in the acquisition analysis, the difference is recorded as consolidation goodwill. If, on the other hand, the consolidation acquisition value of the shares falls below the value of the subsidiary’s net assets in the acquisition analysis, the difference is recorded as a provision for negative goodwill. The dissolution provision is based on expected earnings. The Company uses the current method when translating the annual statements of foreign subsidiaries. This means that the assets and liabilities of the foreign companies are trans lated using the year-end exchange rate. All income statement items are translated using the transaction exchange rate for the year. Translation differences are recorded directly under Group equity.
Tangible and intangible fixed assets are depreciated systematically over the estimated useful life of the assets. The following depreciation periods are applied: 5 years
Research and development Expenditures for research and development projects are generally written off on an ongoing basis as these expenditures arise. Investments Current investments in shares have been valued to the lowest of acquisition value or market value at year-end. Cash flow Cash flow is prepared using the indirect method. The reported cash flow comprises only transactions involving in and out payments.
Income
Definitions of key ratios
Sales of goods are reported at delivery of product to the customer, according to the terms of sales. Sales are reported net after value-added tax, discounts and exchange rate differences when sales in foreign currency.
Equity/assets ratio Equity and untaxed reserves (less deferred tax) in relation to total assets.
Principles for reporting income from service and construction contracts are reported under ’Work on contract’.
Operating margin Operating result in relation to net sales.
Receivables Receivables are reported in the amounts that, on basis of individual assessment, are estimated to be received.
Note 2 Average numbers of employees, salaries, other remuneration and Social Security contributions
Income taxes
2013 2012 Average number of employees
Reported income taxes include taxes that are to be paid or received during the year, adjustments relating to previous years’ current taxes and changes in deferred taxes.
Women Men
23 17 69 64
The valuation of all tax debts and receivables are at their face value, and are performed according to the tax rules, and at the tax rates that are decided or that have been announced, provided there is a high probability that they will be approved. A separate assessment of the offset ability of the tax claims will be done.
92 81
The tax effects for the items reported in the income statement are also reported in the income statement. The tax effects of items that are accounted for directly against equity are also reported directly against equity. Due to the relationship between accounting and taxation, deferred tax liabilities on untaxed reserves are reported as a part of untaxed reserves in the parent company. Foreign currencies Receivables and liabilities denominated in foreign currency are valued at the balance sheet rate. Where hedging is implemented, such as forward contracts, forward rate is used. Profits and losses on operating receivables and liabilities are disclosed as other operating income and other operating expenses respectively.
SEK thousand Salaries and other remunerations amount to: The Board of Directors and the CEO Other employees
1,800 33,557
1,800 31,262
Total salaries and remunerations
35,357
33,062
9,349
8,903
3,057
3,188
Statutory and contractual Social Security contributions Pension expenses (of which 630 (783) are in respect of the Board of Directors and the CEO) Total salaries, emoluments, Social Security contributions and pension expenses
47,763 45,153
Members of the Board and Senior Management
2013 2012 Number on balance sheet date
Members of the Board CEO
Percentage males
Number on balance sheet date
5 100% 1 100%
Percentage males
5 100% 1 100%
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CONFIGURA ANNUAL REPORT 2013
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Note 3
Absence due to illness
Total absence due to illness - Absence due to illness, males - Absence due to illness, females - Employees aged <30 - Employees aged 30–59
2013
2012
2,23% 2,00% 2,70% 2,60% 2,00%
2,43% 1,87% 5,15% 1,78% 2,58%
Equipment, tools, fixtures and fittings 12/31/2013 12/31/2012 SEK thousand Opening acquisition value 4,282 4,017 Changes during the year - Purchases 585 283 - Translation differences -22 -18 Closing accumulated acquisition value
4,845
4,282
Opening depreciation -3,726 -3,529 Changes during the year - Depreciation -272 -213 -Translation differences 21 16 Closing accumulated depreciation Closing residual value according to plan
Note 5
-3,977
-3,726
868
556
Income from current investment SEK thousand Dividend Capital gain disposals
Note 4
Note 8
2013 2012 3 32 261 264 32
Note 9
Work on contract SEK thousand Contract costs incurred Provisions work on contract Invoiced partial amounts
12/31/2013 12/31/2012 1,757 -383 -2,547
3,849 -703 -3,009
-1,173 137
Prepaid expenses and accrued income 12/31/2013 12/31/2012 SEK thousand Prepaid rent 380 380 Prepaid insurance premiums 262 253 Accrued income 563 954 Other items 542 846 Prepaid royalty 2,236 Accrued yearly fee software 403
4,386 2,433
Note 10 Current investments
12/31/2013 12/31/2012 SEK thousand Book value, total - 588 Listed stocks included in the above - Book value - - Market value -
588 668
Note 11 Bank overdraft facilities The credit facility granted amounts to SEK 1,000 thousand (SEK 1,000 thousand).
Note 6
Note 7
Tax on income for the year SEK thousand Tax for the year Tax relating to tax allocation reserve Deferred tax liabilities Change in deferred tax due to change in tax
2013 2012
-448 -1,298
-610 -9 171 -
-1,706 -15 249 174
Other long-term investments 12/31/2013 12/31/2012 SEK thousand Opening acquisition value 550 550 Closing accumulated acquisition value
550
550
Closing book value
550
550
Note 12 Change in equity
12/31/2013 12/31/2012 SEK thousand Restricted equity Share capital Share capital 200 200
Restricted reserves Opening balance 3,196 3,718 Transfers between restricted and non-restricted equity -608 -522 Closing balance
2,588
3,196
Closing total restricted equity
2,588
3,196
Non-restricted equity Opening balance 6,822 6,144 Dividends -3,007 -2,806 Translation difference 19 -321 Transfers between restricted and non-restricted equity 608 522 Net income for the year 1,892 3,313 Closing total non-restricted equity
6,334
6,822
Accumulated translation differences reported directly against equity capital amount to SEK 145 thousand (SEK 164 thousand). Number of shares amounts to 2,004
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Note 13 Accrued expenses and deferred income
12/31/2013 12/31/2012 SEK thousand Accrued vacation pay 2,671 2,611 Accrued Social Security contributions 2,094 2,065 Other items 191 300
4,956 4,976
Pages 68–76 are a translation of Group figures in Configura Sverige AB’s (Corporate Registration Number 556404-7156) official financial statements. In addition to the information included in this document, the official financial statements include figures of Parent Company and a Directors’ Report. This report has been replaced by more substantial information on pages 1–66. Configura Sverige AB’s official financial statements are available at the Swedish Companies Registration Office.
Audit Report
Linköping, April 9, 2014
Johan Lyreborn CEO
Complete Financial Statements
Sune Rydqvist Chairman of the Board
Jonas Leek, Authorized Public Accountant, has issued an Auditor’s Report for the official financial statements. His Auditor’s Report does not contain any comments. The auditor’s recommendation to the general meeting of shareholders is that the income statements and balance sheets of the Group be adopted and that the members of the Board of Directors and the Managing Director be discharged from liability for the financial year.
Linköping, April 9, 2014 Göran Rydqvist
Johan Bengtsson
Jonas Leek Authorized Public Accountant
Niels Madsen
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77
ENVIRONMENTAL
POLICY
At Configura, we work to minimize the impact of our business on the environment. Within the company, we actively work to spread knowledge about and commitment to environmental issues.
SOFTWARE AND COMPANY CET Designer ® CET Designer is a complete design, specification and visualization tool that allows designers and salespeople to complete every step of the sales and order process with one single program. Through rapid graphical configuration, it creates layouts in 2D and 3D as well as accurate quotes and order data. The program is designed as a multi-company solution, which means that end users can work with products from different manufacturers.
CET Developer® CET Developer is a programming environment used to create Extensions for our base application, CET Designer. Using CET Developer, our development partners can quickly build Extensions containing product catalogs or additional features, such as links to ERP systems.
Configura® Configura is a highly customizable graphical sales configurator available to manufac turers. The system is built to fit a manufacturer’s exact needs in terms of sales automation and has been successfully implemented in sales organizations in the Commercial Furniture, Material Handling and Industrial Machinery business segments.
Configura will: Give priority to purchasing as well as using products and services with the least environmental impact
●
Endeavor to reduce our energy consumption
●
Minimize the amount of waste we produce
●
Encourage electronic documentation, marketing and commerce
InstantPlanner® InstantPlanner is a generic space planning tool used primarily by manufacturers, distributors, system integrators and consultants in the Material Handling industry. InstantPlanner is based on the same core technology as Configura. However, whereas Configura focuses on configuration and calculation, the main focus of InstantPlanner is on drawing and visualization of storage and warehouse solutions.
●
Make environmental demands of our suppliers
●
Continuously improve our environmental work
●
The Configura Group Configura Sverige AB is the parent company of the Configura Group (referred to as Configura), which also includes the subsidiaries Configura CET AB, Configura Inc. and Configura Pacific Sdn Bhd. Configura’s operations are based on its proprietary software platforms: Configura, CET Designer, CET Developer and InstantPlanner. Configura licenses its software to customers based on a subscription model, with the license fee including new versions and support.
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CONFIGURA ANNUAL REPORT 2013
configura .com
Configura Sverige AB Drottninggatan 14, Box 306 SE-581 02 Linköping, Sweden Tel. +46 13 37 78 00 Fax +46 13 37 78 55 info@configura.com Lilla Bommen 1 SE-411 04 Göteborg, Sweden Tel. +46 31 13 48 54 info@configura.com
Configura Inc. 100 Grandville Ave SW Ste 501 Grand Rapids, MI 49503 Tel. +1 616 242 6262 Fax +1 616 242 6263 usinfo@configura.com
Configura Pacific Sdn Bhd The Troika, B-23-1 19 Persiaran KLCC 50450 Kuala Lumpur, Malaysia Tel. +60-321 81 28 77 info@configura.com