DOCSLIB.ORG

Annual Report 2005 (PDF)

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Annual Report 2005 (PDF) Annual Report 2005 Contents The Year in Brief 1 Comments from the CEO 2 This is TeliaSonera 4 Strategy for Profitable Growth 5 The Market for Telecom Services 6 Growth Initiatives 7 Cost Efficiency 10 Personnel and Competence 12 TeliaSonera in Society 13 The TeliaSonera Share 14 Corporate Governance Report 16 Report of the Directors 23 Risk Factors 33 Consolidated Financial Statements 36 Parent Company Financial Statements 80 Proposed Appropriation of Earnings 92 Auditors’ Report 93 Ten-Year Summary 94 Forward-Looking Statements 97 Annual General Meeting 2006 98 TeliaSonera’s Annual Report is available at www.teliasonera.com/investorrelations under the Report section. Hardcopies of the Annual Report can be printed from the web or be ordered from the web or by phone at +46 (0) 372 851 42. We also publish an Annual Review, which is a summary of the year. The Annual Review is available at www.teliasonera.com/investorrelations under the Report section. A printed version can be ordered from the web or by phone at +46 (0) 372 851 42. TeliaSonera AB is a public limited liability company incorporated under the laws of Sweden. TeliaSonera was created as a result of the merger of Telia AB and Sonera Corporation in December 2002. In this annual report, references to “Group,” “Company,” “we,” “our,” “TeliaSonera” and “us” refer to TeliaSonera AB or TeliaSonera AB together with its subsidiaries, depending upon the context. The Year in Brief The Year in Brief Net sales increased 7.0 percent to SEK 87,661 million (81,937) driven by strong mobile and broadband growth. Strong customer growth year on year: – 2.7 million new customers in the majority owned Nordic, Baltic and Eurasian operations. – 14.8 million new customers in the associated companies MegaFon and Turkcell. Operating income, excluding non-recurring items, totaled SEK 20,107 million (20,859). International Mobile operations close to 30 percent of Group operating income. EBITDA margin, excluding non-recurring items, decreased to 33.6 percent (36.9) due to decreased earnings in Finland mobile and Sweden fixed. Mobile margins maintained in Sweden despite strong price pressure. Free cash flow increased to SEK 15,594 million (14,118). Net income totaled SEK 13,694 million (14,264) and earnings per share were SEK 2.56 (2.77). Proposed ordinary dividend of SEK 1.25 per share (SEK 5,613 million). In addition to the ordinary dividend, a distribution of SEK 10,104 million to the shareholders through an extraordinary dividend of SEK 2.25 per share is proposed. Financial Highlights SEK in millions, except per share data 2005 2004 Net sales 87,661 81,937 EBITDA excl. non-recurring items 29,411 30,196 Operating income 17,549 18,793 Operating income excl. non-recurring items 20,107 20,859 Net income 13,694 14,264 of which attributable to shareholders of the parent company 11,697 12,964 Earnings per share (SEK) 2.56 2.77 Please refer to page 96 for definitions. TELIASONERA ANNUAL REPORT 2005 1 Comments from the CEO Dear Shareholders, 2005 was another strong year for TeliaSonera. We posted a healthy 7 percent growth in revenue, welcomed more than 17 million new customers and earned an income of more than SEK 20 billion from our operations. TeliaSonera defended successfully its leading position on the market. The development clearly shows our ability to deliver appreciated services to our customers and good results to our owners despite intense competition. I want to thank all employees for their excel- lent contributions in these challenging times. Since the merger between Telia and Sonera three years ago, we have taken a number of important steps; acquisitions, improve- ments in efficiency and the launch of new services to name a few. During the past three years we have generated a positive cash flow of SEK 47 billion in a market characterized by fierce price pressure, increased competition and new technology. We have at the same time distributed SEK 22 billion to the shareholders. I believe we have succeeded in finding the right balance between returns to shareholders and financial strength, which is required for us to take an even more active role in the future development of the telecom service industry. Our strategy is built on creating profitable growth, both organi- cally and through acquisitions, in each of the two regions we are focusing on, i.e. the home markets in the Nordic and Baltic coun- tries and our eastern operations in Eurasia, Russia and Turkey. On the home markets, we are in the middle of a major transfor- mation that focuses on mobile and internet-based services at the same time as we are striving to maintain our good profitability. The challenge is to rapidly complete the extensive restructuring that all large incumbent telecom operators are currently dealing with. We are also looking for complementary acquisitions building on our strength in the region. So far we have acquired Orange’s Danish operations, Norwegian Chess and increased our sharehold- Fixed communications were, however, strong in Finland, Denmark ings in several of our Baltic operations. and the Baltics. We maintained sales and improved margins in these In the east, we aim for control. We have not yet been able to areas. Substantially increased broadband volumes also generally move our shareholding positions forward. We will, however, await offset decreased revenues for fixed voice, with the exception of the right opportunity since there is strong potential for value Swedish fixed communications, where, despite strong growth in development. We will also continuously evaluate various acquisition broadband, the migration to mobile voice and IP-based solutions opportunities to enhance our strength in the region. still affected total revenues negatively. By utilizing the opportunities available in our two regions, we During the year, we continued to renew and focus our service are creating value that will give us the operational and financial portfolio and launched a number of attractive mobile and internet- strength to actively participate in due course in the consolidation based services. I am referring to the possibility to access TV and of the European market, which will continue. In the telecom music via the mobile, which was popular among customers. The services market, the combination of local strength and global scale mobile content services were gathered on a portal, SurfPort, and advantages will be of great importance. are therefore easily accessible, which increases our attractiveness as During 2005, TeliaSonera continued to show strength in the a distributor of content services. Surf-Port was launched in several market. Mobile operations in Norway, Denmark and the Baltics countries. developed well. Our Swedish mobile operations showed very good We also introduced new broadband-based services in homes earnings, despite a tough market with falling prices. We defended such as internet-based digital TV and a pilot program to make and both our position as market leader and our margins. receive calls with the mobile phone at a lower price over broadband The mobile markets in Russia, Turkey and Eurasia showed the when at home. strongest growth and continued high margins. These operations On the business market, our mobile Connect services have contributed to 30 percent of the Group’s operating income, twice attracted a lot of customers. With Connect users can always con- as much as at the TeliaSonera merger. nect their laptops using the best connection wherever they are, The market with the most difficult conditions during the year was stay in touch with office IT resources and receive e-mails. We are the Finnish mobile market, which experienced extreme competition also testing the possibility to use the mobile phone via wireless and price erosion of approximately 20 percent. Our market position LAN in the office and as a normal mobile outside with a seamless was successfully defended, but at the cost of heavily decreased handover, a so-called voice over IP service. We are the first in earnings. A turnaround program has been initiated to restore profits. Europe to test this service. 2 TELIASONERA ANNUAL REPORT 2005 Comments from the CEO All of these services have one common denominator – to be easy to our costs to significantly lower levels. Our cost levels must be on use. We regard simplicity as the key to creating long-term growth par with the best in Europe to be able to compete in the future. and value. Our customers should experience an unparalleled level Our progress so far with these efforts has been satisfactory. of simplicity that makes it possible to do completely new things The TeliaSonera Group successfully maintained its position as with telecommunications, and this is just the beginning. Our tele- market leader during 2005 despite strong competition that included communications services should be useful, work well and provide price pressure and comprehensive internal restructuring in the home the highest level of service. markets. We have established a good operational and financial Telecom services is a growing business, despite the fact that platform for 2006. I expect that we will continue to demonstrate incumbent operators’ revenues are currently under pressure. In the sales growth, improved earnings and strong cash flow during the Swedish market, which has a legacy of fixed services, this pressure coming year. is all too evident. We decided therefore to take the lead in the Based on these expectations, the Board of Directors and I propose transformation away from the legacy services. an increased dividend during 2006. In total, SEK 15.7 billion is The future is in mobile services, broadband for consumers and proposed for distribution to the shareholders. If approved by the internet data communications for businesses, which are comple- owners, TeliaSonera will be one of the highest yielding stocks in its mented by internet-based services, managed services for businesses industry in Europe.
Load more

Recommended publications
  • Press Release Stockholm, September 28, 2011
    Press release Stockholm, September 28, 2011 Jonas Samuelson appointed Head of Major Appliances Europe and Tomas Eliasson appointed CFO Jonas Samuelson has been appointed new Head of Major Appliances Europe and Executive Vice President of AB Electrolux. He succeeds Enderson Guimarães, who will be leaving Electrolux to pursue another opportunity. Tomas Eliasson, currently Chief Financial Officer of Assa Abloy, has been appointed new Chief Financial Officer of AB Electrolux. Jonas Samuelson has been appointed President and CEO of Major Appliances Europe, Middle East and Africa and Executive Vice President of AB Electrolux. He will report to the CEO and be a member of Group Management. Mr. Samuelson is currently Chief Financial Officer and Head of Global Operations Major Appliances. He joined Electrolux as Chief Financial Officer in 2008. Before joining Electrolux, Mr. Samuelson was Chief Financial Officer and Executive Vice President for Munters AB. Prior to that he held several positions within General Motors. “Jonas has been instrumental in strengthening Electrolux financial position, improving our global strength and preparing the Group to enter a growth phase. Major Appliances Europe, Middle East and Africa is a very important sector for Electrolux, and Jonas is the right person to take over the baton from Enderson,” says Keith McLoughlin, President and CEO. Enderson Guimarães, who will take on a new position in Pepsi Co, was appointed Head of Major Appliances Europe and Executive Vice President of AB Electrolux in 2008. He will remain with Electrolux until October 31, 2011. “I want to express appreciation to Enderson for his important contributions to the company and wish him and his family all the best in their move to North America,” continues Mr.
    [Show full text]
  • ANNUAL REPORT 2018 Toward Industry-Leading Profitability CONTENTS
    ANNUAL REPORT 2018 Toward industry-leading profitability CONTENTS 28 Businesses 60 Sustainable offering 145 Consolidated statement 29 SSAB Special Steels 61 Environmental benefits from of comprehensive income 33 SSAB Europe high-strength steels 146 Consolidated balance sheet 37 SSAB Americas 63 SSAB EcoUpgraded concept 147 Consolidated statement 41 Tibnor of changes in equity 44 Ruukki Construction 65 Sustainable operations 148 Consolidated cash flow 47 How we work with 66 Minimizing environmental statement BUSINESS REVIEW 2018 customers impact CORPORATE GOVERNANCE 49 Swedish Steel Prize 67 Material efficiency REPORT 2018 149 Parent Company 3 Introduction and recycling 149 Parent Company’s income 3 SSAB in brief 69 Energy consumption 106 Corporate Governance statement 5 2018 in brief and efficiency Report 2018 149 Parent Company’s other 6 Vision and values 71 Water recirculation 110 Board of Directors comprehensive income 7 SSAB’s value creation in the processes 114 Group Executive Committee 150 Parent Company’s balance 8 CEO’s review 72 CO2 efficient steel production sheet 10 SSAB as an investment 151 Parent Company’s statements 76 Responsible partner of changes in equity 11 Operating environment 77 High-performing 152 Parent Company’s cash flow 12 SSAB’s global presence organization statement 13 Global megatrends 84 Occupational health affecting SSAB SUSTAINABILITY and safety 153 5-year summary, Group 14 Steel market and REPORT 2018 87 Business ethics 154 Accounting and SSAB’s position and anticorruption valuation principles 17 Market
    [Show full text]
  • PRESS RELEASE 7 February, 2011
    NASDAQ OMX Stockholm: SWMA PRESS RELEASE 7 February, 2011 New member proposed for Swedish Match Board of Directors At the upcoming Annual General Meeting on May 2, 2011, the Nominating Committee of Swedish Match AB will propose the election of Joakim Westh to the Swedish Match Board of Directors. Joakim Westh is currently working as a management consultant and is an owner in two companies, Absolent AB and EMA Technology AB. Between 2004 and 2009, Westh has had extensive experience in strategy and operational excellence at LM Ericsson AB. In his role as Senior Vice President, Head of Group Function Strategy and Operational Excellence, Westh had the overall responsibility for Ericsson’s strategy, long term business development, strategic business investments and alliances as well as driving Operational Excellence and procurement across the organization. He was also a member of Ericsson’s Executive Management Team. Prior to working at Ericsson, Westh held a similar position at Assa Abloy AB. He has also worked at McKinsey & Co Inc. Westh is currently on the Board of Directors of Saab AB and Rörvik Timber AB, having previously been on the Boards of VKR Holding and Telelogic. Westh holds a Masters degree of Science from the Massachusetts Institute of Technology (MIT, 1987), a Master of Science, M.S.c from the Royal Institute of Technology (KTH, 1985), and an undergraduate degree from Lidköping, Sweden. In its proposal to the Annual General Meeting, the Nominating Committee has made particular note of Westh’s vast experience in promoting operational excellence in a variety of industries. The current Swedish Match Board members Arne Jurbrant and Kersti Strandqvist have announced that they are not available for re-election at the upcoming Annual General Meeting.
    [Show full text]
  • Annual Report 2011 Contents
    Annual Report 2011 Contents Reporting of earnings and revenue in the first part of the Annual Report (pages 1–78) complies with the segment reporting method. The statement of financial position and cash flow statement are Mission and vision presented in compliance with IFRSs in all parts of the Annual Report. Skanska’s mission is to develop, Group overview build and maintain the physical 2011 in brief 2 environment for living, traveling Comments by the President and CEO 4 and working. Skanska’s vision is to 6 be a leader in its home markets – Mission, goals and strategy 6 the customer’s first choice – Business model 8 in construction and project Skanska’s role in the community 10 development. Financial targets 14 Risk management 16 Employees 20 Share data 24 Business streams Construction 28 Nordic countries 32 Project: Gårda, Other European countries 36 Gothenburg, Sweden The Americas 40 Residential Development 44 Nordic countries 48 Other European countries 50 Commercial Property Development 52 A leader in sustainable development Nordic countries 56 Skanska must act in ways that Other European countries 60 are sustainable and responsible The United States 62 in the long term toward Infrastructure Development 64 shareholders, customers and Project portfolio 68 employees as well as society at large. Skanska’s aim is to Sustainable Development 72 ensure that all projects will 72 Green Strategic Indicators 74 be profitable and will also be Health and safety 78 implemented in accordance with the five zeros vision: no Financial information loss-making projects, work site accidents, environmental Report of the Directors 81 incidents, ethical breaches or Corporate governance report 88 defects.
    [Show full text]
  • SSAB Announces the Terms of Its Rights Issue
    Not for release, publication or distribution, directly or indirectly, in or into Australia, Canada, Hong Kong, Japan, the United States or any other jurisdiction where such distribution of this press release would be subject to legal restrictions. PRESS RELEASE May 24, 2016 SSAB announces the terms of its rights issue SSAB AB (publ) (“SSAB” or the “Company”) announced on April 22, 2016 that the Board of Directors had resolved, subject to approval at the Extraordinary General Meeting (the “EGM”) on May 27, 2016, to launch a rights issue of approximately SEK 5 billion with preferential rights for existing shareholders. SSAB’s Board of Directors today announces the terms of the rights issue. The rights issue in brief Rights issue of Class B shares of approximately SEK 5 billion with preferential rights for existing shareholders in SSAB Shareholders in SSAB are entitled to subscribe for 7 new B shares for 8 old A and/or B shares held The subscription price is SEK 10.50 per share. For subscription of shares that will be registered with Euroclear Finland and listed on Nasdaq Helsinki, the subscription price is to be paid in EUR based on the European Central Bank EUR/SEK reference rate on May 31, 2016. The subscription price in EUR will be announced by way of a press release on or about May 31, 2016 The rights issue is subject to approval at the EGM on May 27, 2016 The record date is May 31, 2016 and the subscription period runs from June 3, 2016 until June 17, 2016 (both dates inclusive) or until such later date as decided by the Board of Directors SSAB’s two largest shareholders, Industrivärden and Solidium, together representing 28.7 per cent of the capital and 29.3 per cent of the votes, have undertaken to subscribe for their pro rata shares of the rights issue.
    [Show full text]
  • Boliden Annual Report 2017 Worldreginfo - Bd894b10-00E7-4Cc2-B543-404324Ef8904 Introduction Market Operations Corporate Governance Financial Reports
    METALS FOR LONG-TERM VALUE CREATION 2017 ANNUAL REPORT WorldReginfo - bd894b10-00e7-4cc2-b543-404324ef8904 THE YEAR IN BRIEF The year in brief Contents Highlights Introduction The year in brief B Mines Smelters President’s statement 2 Investments in growth at Aitik and The expansion of Odda was completed Metals in society 4 ongoing success at Garpenberg. The and work continued on the sustainable About Boliden 6 Kevitsa mine has also been fully inte- repository solution at Rönnskär. Continued Strategy 8 grated. Find out more on page 28. focus on increased process stability. Find Target fulfilment 10 out more on page 34. Value creation 12 Market Market trends 14 Income model 16 Market position 18 Competitiveness 19 Price trends 20 Operations 18 % The Group’s performance 24 Boliden’s Mines and Smelters 27 increase in share Business Area Mines 28 price during Business Area Smelters 34 the year. Sustainable development 40 Responsible business 42 Human rights 44 Purchasing 45 Employees 46 Environment 49 Society 53 The Boliden share 54 Risk management 56 Corporate governance Boliden – long-term value creation Corporate Governance Report 60 Boliden produces metals that make modern society work. Operations are characterised The Board of Directors 66 by concern for people, the environment and society, and Boliden is one of the best com- The Group management 68 panies in the world when it comes to sustainable mining and metal production. Boliden Internal Control Report 69 also enjoys a leading position in metal recycling. The combination of in-depth experience and development of best available technology means that its mines and smelters are Financial reports well-positioned to handle global competition.
    [Show full text]
  • Fund Holdings
    Wilmington International Fund as of 7/31/2021 (Portfolio composition is subject to change) ISSUER NAME % OF ASSETS ISHARES MSCI CANADA ETF 3.48% TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD 2.61% DREYFUS GOVT CASH MGMT-I 1.83% SAMSUNG ELECTRONICS CO LTD 1.79% SPDR S&P GLOBAL NATURAL RESOURCES ETF 1.67% MSCI INDIA FUTURE SEP21 1.58% TENCENT HOLDINGS LTD 1.39% ASML HOLDING NV 1.29% DSV PANALPINA A/S 0.99% HDFC BANK LTD 0.86% AIA GROUP LTD 0.86% ALIBABA GROUP HOLDING LTD 0.82% TECHTRONIC INDUSTRIES CO LTD 0.79% JAMES HARDIE INDUSTRIES PLC 0.78% DREYFUS GOVT CASH MGMT-I 0.75% INFINEON TECHNOLOGIES AG 0.74% SIKA AG 0.72% NOVO NORDISK A/S 0.71% BHP GROUP LTD 0.69% PARTNERS GROUP HOLDING AG 0.65% NAVER CORP 0.61% HUTCHMED CHINA LTD 0.59% LVMH MOET HENNESSY LOUIS VUITTON SE 0.59% TOYOTA MOTOR CORP 0.59% HEXAGON AB 0.57% SAP SE 0.57% SK MATERIALS CO LTD 0.55% MEDIATEK INC 0.55% ADIDAS AG 0.54% ZALANDO SE 0.54% RIO TINTO LTD 0.52% MERIDA INDUSTRY CO LTD 0.52% HITACHI LTD 0.51% CSL LTD 0.51% SONY GROUP CORP 0.50% ATLAS COPCO AB 0.49% DASSAULT SYSTEMES SE 0.49% OVERSEA-CHINESE BANKING CORP LTD 0.49% KINGSPAN GROUP PLC 0.48% L'OREAL SA 0.48% ASSA ABLOY AB 0.46% JD.COM INC 0.46% RESMED INC 0.44% COLOPLAST A/S 0.44% CRODA INTERNATIONAL PLC 0.41% AUSTRALIA & NEW ZEALAND BANKING GROUP LTD 0.41% STRAUMANN HOLDING AG 0.41% AMBU A/S 0.40% LG CHEM LTD 0.40% LVMH MOET HENNESSY LOUIS VUITTON SE 0.39% SOFTBANK GROUP CORP 0.39% NOVARTIS AG 0.38% HONDA MOTOR CO LTD 0.37% TOMRA SYSTEMS ASA 0.37% IMCD NV 0.37% HONG KONG EXCHANGES & CLEARING LTD 0.36% AGC INC 0.36% ADYEN
    [Show full text]
  • Portfolio of Investments
    PORTFOLIO OF INVESTMENTS CTIVP® – Lazard International Equity Advantage Fund, September 30, 2020 (Unaudited) (Percentages represent value of investments compared to net assets) Investments in securities Common Stocks 97.6% Common Stocks (continued) Issuer Shares Value ($) Issuer Shares Value ($) Australia 6.9% Finland 1.0% AGL Energy Ltd. 437,255 4,269,500 Metso OYJ 153,708 2,078,669 ASX Ltd. 80,181 4,687,834 UPM-Kymmene OYJ 36,364 1,106,808 BHP Group Ltd. 349,229 9,021,842 Valmet OYJ 469,080 11,570,861 Breville Group Ltd. 153,867 2,792,438 Total 14,756,338 Charter Hall Group 424,482 3,808,865 France 9.5% CSL Ltd. 21,611 4,464,114 Air Liquide SA 47,014 7,452,175 Data#3 Ltd. 392,648 1,866,463 Capgemini SE 88,945 11,411,232 Fortescue Metals Group Ltd. 2,622,808 30,812,817 Cie de Saint-Gobain(a) 595,105 24,927,266 IGO Ltd. 596,008 1,796,212 Cie Generale des Etablissements Michelin CSA 24,191 2,596,845 Ingenia Communities Group 665,283 2,191,435 Electricite de France SA 417,761 4,413,001 Kogan.com Ltd. 138,444 2,021,176 Elis SA(a) 76,713 968,415 Netwealth Group Ltd. 477,201 5,254,788 Legrand SA 22,398 1,783,985 Omni Bridgeway Ltd. 435,744 1,234,193 L’Oreal SA 119,452 38,873,153 REA Group Ltd. 23,810 1,895,961 Orange SA 298,281 3,106,763 Regis Resources Ltd.
    [Show full text]
  • Corporate Governance
    Report of the Board of Directors Corporate governance ASSA ABLOY is a Swedish public limited liability company Shareholders with registered office in Stockholm, Sweden, whose Series B At year-end, ASSA ABLOY had 22,232 shareholders share is listed on the Nasdaq Stockholm. 1 (17,720). The principal shareholders are Investment The Group’s corporate governance is based on the Swedish AB Latour (9.5 percent of the share capital and 29.5 percent Companies Act, the Annual Accounts Act, the Nasdaq of the votes) and Melker Schörling AB (3.9 percent of the Stockholm Rule Book for Issuers and the Swedish Code of share capital and 11.4 percent of the votes). Foreign share- Corporate Governance, as well as other applicable external holders accounted for around 64 percent (65) of the share laws, regulations and recommendations, and internal rules capital and around 44 percent (44) of the votes. The ten largest and regulations. shareholders accounted for around 38 percent (35) of the This Corporate Governance Report has been prepared as share capital and 58 percent (56) of the votes. For further part of ASSA ABLOY’s application of the Swedish Code of information on shareholders, see page 123. Corporate Governance. The report is audited by A shareholders’ agreement exists between Gustaf Douglas, ASSA ABLOY’s auditor. Melker Schörling and related companies and includes an ASSA ABLOY’s objective is that its activities should gener- agreement on right of first refusal if any party disposes of ate good long-term returns for its shareholders and other Series A shares. The Board of Directors of ASSA ABLOY is not stakeholders.
    [Show full text]
  • Stämmohandlingar
    Page 1 (11) Date 26 April, 2005 Annual General Meeting, April 26, 2005 Proposed agenda Opening of the Annual General Meeting 1. Election of chairperson of the meeting 2. Election of two persons to check the meeting minutes along with the chairperson 3. Preparation and approval of voting register 4. Adoption of agenda 5. Confirmation that the meeting has been duly and properly convened 6. Presentation of the Annual Report and Auditor’s Report, Consolidated Financial Statements and Group Auditor’s Report for 2004. Speech by President Anders Igel in connection herewith and a description of the Board of Directors work during 2004 7. Resolution to adopt the Income Statement, Balance Sheet, Consolidated Income Statement and Consolidated Balance Sheet for 2004 8. Resolution concerning appropriation of the Company’s profits as per the adopted Balance Sheet, and setting of record date for the stock dividend 9. Resolution concerning discharging of members of the Board of Directors and the President from personal liability for the administration of the Company in 2004 10. Resolution concerning number of board members and deputy board members to be elected by the Annual General Meeting 11. Resolution concerning remuneration to the Board of Directors 12. Election of Board of Directors. The election will be preceded by information from the chairperson concerning positions held in other companies by the candidates 13. Election of chairman and deputy chairman of the Board of Directors 14. The Board of Directors’ proposal to authorize the Board of Directors to decide on repurchase of shares through a public offer 15. The Board of Directors’ proposal to reduce the share premium fond 16.
    [Show full text]
  • Boliden AB (Publ) Guaranteed by Boliden Mineral AB (Publ)
    Base Prospectus 31 March 2021 Boliden AB (publ) Base Prospectus for Swedish medium term note programme guaranteed by Boliden Mineral AB (publ) Arranger Swedbank AB (publ) Dealers Swedbank AB (publ) Danske Bank A/S, Danmark, Sverige Filial DNB Bank ASA, filial Sverige Nordea Bank Abp Skandinaviska Enskilda Banken AB (publ) Aktiebolaget Svensk Exportkredit (publ) This Base Prospectus is valid for twelve months after the date of the approval of the Base Prospectus. The obligation to supplement this Base Prospectus in the event of significant new factors, material mistakes or material inaccuracies does not apply when the Base Prospectus is no longer valid. LEGAL#20340929v5 LEGAL#20340929v5 Important information Words and expressions defined in the general terms and conditions for medium term notes (the “Terms and Conditions”) beginning on page 17, and, as the case may be, in the final terms, the form of which beginning on page 36 (the “Final Terms”) have the same meanings when used in this Base Prospectus, unless expressly stated or the context requires otherwise. In this Base Prospectus, the “Issuer”, the “Company” or “Boliden” means Boliden AB (publ) or, depending on the context, the group in which Boliden AB (publ) presently is a parent company. The “Guarantor” or “Boliden Mineral” means Boliden Mineral AB (publ). The “Group” means the Issuer with all its subsidiaries (including Boliden Mineral) from time to time (each a “Group Company”). The “Arranger” means Swedbank AB (publ). The “CSD” or “Euroclear Sweden” means Euroclear Sweden AB. “SEK” refers to Swedish kronor, “EUR” means the single currency of the participating member states in accordance with the legislation of the European Community relating to Economic and Monetary Union, “USD” means U.S.
    [Show full text]
  • SWEDEN by Jozef Plachy 1
    THE MINERAL INDUSTRY OF SWEDEN By Jozef Plachy 1 Sweden is endowed with significant deposits of iron ore, Sweden's exports, one-third of which was steel. Because certain base metals (copper, lead, and zinc), and several Sweden lacked a zinc smelter, one of the largest mineral industrial minerals (dolomite, feldspar, granite, ilmenite, exports was zinc ore and concentrate, shipped mostly to kaolin, limestone, quartz, and wollastonite). Still, it is best Norway. The country imported duty-free most of the raw known for production of high-quality steel. Sweden relies material needed to operate its copper and lead smelter at heavily on hydrocarbon imports, due to inadequate optimal capacity. indigenous resources; as a result, the country has developed substantial nuclear and hydroelectric generating capacity. Structure of the Mineral Industry Government Policies and Programs The ownership of the two largest mineral companies in Sweden—Boliden AB and Luossavaara-Kiirunavaara AB Sweden liberalized its mineral policy to parallel European (LKAB)—has remained essentially unchanged. Union (EU) standards in response to the acceptance of the Boliden Mineral AB, a subsidiary of the privately owned EU membership by the Swedish electorate in 1994. The new Trelleborg Group, was predominantly a nonferrous mining policy eliminated laws requiring foreign companies to get and processing company. It also traded in concentrates, special permission for prospecting, annulled the state's metals, and other products and provided engineering participation in mining enterprises (so-called "crown expertise, built mineral processing plants, and sold mining shares"), and revoked all taxes and royalties, except for the equipment. Boliden Mineral AB consisted of Swedish Mines normal 27% corporate tax.
    [Show full text]