DOCSLIB.ORG

View Annual Report

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
View Annual Report Annual Report 2000 00 A financial partner for Europe Through acquisitions and successful development of new services and distribution channels SEB has grown into a European financial partner for primarily companies and financially active individuals. More than half of SEB’s staff is now employed outside Sweden. Contents SEB’s financial information is found on Chairman’s statement 2 www.seb.net. President’s statement 3 The SEB share 4 Economic development 6 Financial information during 2001 This is SEB 8 Publication of annual accounts 20 February Publication of Annual Report End of March SEB’s main groups 13 Annual General Meeting 5 April Retail Distribution 14 Interim report January-March 4 May Interim report January-June 23 August Merchant Banking 16 Interim report January-September 25 October SEB Securities Services 19 SEB Invest & Funds 20 Private Banking 21 For further information please contact: SEB Trygg Liv 22 Gunilla Wikman Boo Ehlin Head of Group Communications Press Officer BfG 24 Telephone +46 8 763 81 25 Telephone +46 8 763 85 77 Enskilda Securities 26 e-mail: [email protected] e-mail: [email protected] SEB Kort 28 The Baltic 29 Lotta Treschow Annika Halldin SEB’s e-banking activities 30 Head of Investor Relations Responsible for financial Telephone +46 8 763 95 59 information/Shareholder contacts Report of the Directors 32 e-mail: [email protected] Telephone + 46 8 763 85 60 e-mail: [email protected] Risk- and capital management 39 Cover picture: Ingrid Nabseth, relationship manager, mid-corporate market Accounting principles 44 Definitions 47 Profit and loss accounts 48 Balances sheets 50 Cash flow analysis 51 Notes 52 Five-year summery 82 Proposal for the distribution of profit 84 Auditor’s report 85 Board of Directors 86 Executive Committee and auditors 87 Addresses 88 2000 in brief The German BfG Bank is incorporated with SEB on 3 January, 2000. Enskilda Securities merges with Norwegian Orkla Finans (Fondsmegling). SEB is closing 50 of its branch offices as a result of the increased use of the Internet. SEB joins the Volvo Ocean Race project as principal sponsor and will participate with its own boat in the race that will take place in 2001–2002. SEB launches cash offers to the share- holders of Eesti Ühispank, Estonia, Latvijas Unibanka, Latvia, and Vilniaus Bankas, Lithuania. By year-end SEB has nearly 100 per cent of the shares in these three banks. SEB increases its ownership of the Polish Bank Ochrony Srodowiska, BOS, from 4.5 to 33 per cent. After year-end SEB is announcing merger plans with FöreningsSparbanken. SEB ANNUAL REPORT 2000 1 CHAIRMAN’S STATEMENT European strategy unchanged The year 2000 developed its decision after SEB had published its annual accounts. into yet another strong year The purpose of the planned merger is to create a strong Swe- for SEB, with increased busi- dish base for further expansion in Europe with the help of the ness volumes and improved new Group’s collective experience, competence and financial result. I note with pleasure strength. Our customers will get better service and accessibility. the strength that the Bank SEB and FöreningsSparbanken complement each other has demonstrated as a cor- very well. Together, we will be able to consolidate our success- porate bank, as an asset ma- ful achievements within e-banking, where we both are among nagement bank and as a the world leaders. The merger will lead to the release of partner to our private custo- resources for development, which means that we will be able mers. to offer customers the best financial services also in the future. To all appearances, the Our discussions with FöreningsSparbanken have shown world economy reached its that we – in spite of our differences in structure and history - peak in 2000. After a strong in all essentials share the same view of the development of rally in the equities of the so-called new economy at the the financial market. I can assure you that our discussions beginning of the year, increasing uncertainty characterised have been held in a very good spirit. This constructive dialo- the financial markets. There was a strong slump in stock pri- gue bodes well for our common future. I look forward to ces and deteriorating liquidity in the credit markets. working with the new Board and Management, building a The economic outlook for 2001 is hard to assess. The new and successful bank. slowdown in U.S. was faster than expected and the future is The merger proposal will be tried by the relevant compe- highly dependent upon how faith in the future will develop. tition authorities. We hope that they will arrive at a positive Also Europe is showing signs of a recession. Productivity is decision and that their examination will not be a drawn-out furthered through continued integration and structural reforms. process. The proposal will be submitted to our respective Even if growth should slow down a little the European econ- Annual General Meetings for decision. omy may very well develop better than that of the U.S. in 2001. The road to Europe Structural transformation of the “new economy” Regardless of these decisions, SEB’s strategy to develop The slumping stock prices of IT-related companies will be into a leading, modern European bank stays firm. We are in followed by a strong consolidation of the sector. At the same a stage of rapid expansion, both in terms of turnover and time, the rationalisation of the more traditional economy geography. In the course of a couple of years we have esta- continues concurrently with the introduction of new ways of blished a presence in Germany, Poland and the Baltic coun- working. The new technology has penetrated all areas of ac- tries and are now operating around the whole Baltic Sea. tivity and has come to stay – like the ongoing globalisation. Based upon our traditional business, we have also mana- ged to take a significant lead over our competitors in the use Changes within the European financial sector of modern information technology. We have gained great The restructuring of the European financial sector continued experience from being a partner to internationally active during 2000, with several new mergers. The demand for growth companies. This is a unique and valuable asset in an more efficient capital markets increases as a result of globali- ever-increasingly global world. sation, deregulation, the common currency and new techno- 2000 was not just a successful year for SEB, but filled with logy. The need for a critical mass in business leads inevitably hard work for many of our employees. Our staff has focused to consolidation. More customers lead to economies of scale on customers and their needs at the same time as a number of and decreasing costs per customer. structural projects were carried out. On behalf of the Board I In the Nordic area, consolidation so far has primarily wish to express my great appreciation and thanks to SEB’s been achieved within each respective country and between Management and all employees for their outstanding perfor- the countries of the region. However, I am convinced that it mance and the fine result. is just a matter of time before Nordic and European financial companies start building closer relations with each other. Stockholm 23 February 2001 Planned merger with FöreningsSparbanken On 22 February 2001, a merger of SEB and FöreningsSpar- banken was proposed. The parties had discussed the matter Jacob Wallenberg during a relatively short period of time and the Board made Chairman 2 SEB ANNUAL REPORT 2000 PRESIDENT’S STATEMENT A year of strong growth Work within SEB was characterised by strong expansion. The good. It is also gratifying to German BfG Bank was consolidated from the beginning of the see how rapidly these banks year and the shares outstanding in the three Baltic banks were have been assimilated in the acquired towards the end of the year. The acquisition of a SEB culture and how smoo- block of shares in the Polish Bank Ochrony Srodowiska, BOS, thly the co-operation is func- signified the closing of our Baltic circle. But in addition to this tioning. The acquisition of acquisition-based geographic expansion, we also invested in slightly more than 30 per cent organic growth in new markets during the year through the of the BOS reflects a first step development of new e-banking and e-brokerage services. for SEB in a large and expan- Against the background of the weaker market trend, the ding market. year’s total result of SEK 10,080 M was gratifyingly strong. All in all SEB had a completely different form at the end Development of of 2000, compared with the end of 1999. The number of platform for e-growth employees had been increased from 14,000 to 21,500, and the Outside SEB’s core busines- proportion of employees in Sweden decreased from 75 per ses on a Nordic base and the geographically extended core, cent to 45 per cent. The base in the Nordic countries within a strategy for exporting our knowledge of e-banking from Nordic Banking and Asset Management & Life has shown Sweden was started in 1999. We have in year 2000 built and great strength during the year. From that base we have introduced our pan-European model in Denmark and expanded our core business geographically into the Baltic Germany and in early 2001 in the UK. In contrast to markets states and Germany. The third development phase within for physical goods, e-banking and e-brokerage operations SEB is the growth into new markets with totally new con- are continuing to expand.
Load more

Recommended publications
  • 312.1.Full.Pdf
    Ann Rheum Dis: first published as 10.1136/annrheumdis-2021-eular.1066 on 19 May 2021. Downloaded from 312 Scientific Abstracts Acknowledgements: This study was funded by Novartis Pharma AG. The found many DEGs from baseline with GUS treatment and none with PBO. These authors thank Richard Karpowicz, PhD, of Health Interactions, Inc, for providing included genes related to B-, T-, NK-, and plasma cells (increased by GUS) and medical writing support/editorial support, which was funded by Novartis Pharma- neutrophils, monocytes, eosinophils, and macrophages (decreased by GUS), ceuticals Corporation, East Hanover, NJ, in accordance with Good Publication suggestive of a partial normalization of immune cell composition in whole blood. Practice (GPP3) guidelines (http://www.ismpp.org/gpp3). Conclusion: Using whole transcriptome profiling, we detected DEGs in blood Disclosure of Interests: Gurjit S. Kaeley Consultant of: Novartis Pharmaceuti- samples obtained from PsA pts vs. healthy controls, suggesting a dysregulation cals Corporation, Georg Schett Speakers bureau: AbbVie, Bristol Myers Squibb, of immune cell profiles in PsA. The majority of these disease-associated genes Celgene, Janssen, Eli Lilly, Novartis, and Pfizer, Consultant of: AbbVie, Bristol were modulated by GUS, with directionality toward a normalization of whole Myers Squibb, Celgene, Janssen, Eli Lilly, Novartis, and UCB, Grant/research blood transcriptomic signatures. support from: Bristol Myers Squibb, Celgene, GSK, Eli Lilly, and Novartis, Philip REFERENCES: G Conaghan Consultant of: or Speakers bureau: AbbVie, AstraZeneca, Bristol [1] Deodhar A et al. Lancet. 2020;395:1115. Myers Squibb, Eli Lilly, EMD Serono, Flexion Therapeutics, Galapagos, Gilead, [2] Mease P et al. Lancet. 2020;395:1126. Novartis, and Pfizer, Grant/research support from: UK National Institute for Health Research (NIHR) Leeds Biomedical Research Centre, Dennis McGona- Table 1.
    [Show full text]
  • SEB Fund 1 AR 31122019 Final Post BM
    Annual Report SEB Fund 1 Status: 31 December 2019 R.C.S K 49 Notice The sole legally binding basis for the purchase of units of the Fund described in this report is the latest valid Sales Prospectus with its terms of contract. Table of Contents Page Additional Information to the Investors in Germany 2 Organisation 3 General Information 5 Management Report 9 Schedule of Investments: SEB Fund 1 - SEB Asset Selection Fund 10 SEB Fund 1 - SEB Europe Index Fund 14 SEB Fund 1 - SEB Global Fund 24 SEB Fund 1 - SEB Global Chance / Risk Fund 33 SEB Fund 1 - SEB Norway Focus Fund 39 SEB Fund 1 - SEB Sustainability Fund Europe 41 SEB Fund 1 - SEB Sustainability Nordic Fund 46 SEB Fund 1 - SEB US All Cap 48 Combined Statement of Operations 50 Combined Statement of Changes in Net Assets 54 Combined Statement of Net Assets 58 Statistical Information 62 Notes to the Financial Statements 74 Audit Report 81 Risk Disclosure (unaudited) 84 Remuneration Disclosure (unaudited) 86 1 Additional Information to the Investors in Germany As at 31 December 2019 Units in circulation: The following Sub-Funds are publicly approved for distribution in Germany: • SEB Fund 1 - SEB Asset Selection Fund • SEB Fund 1 - SEB Global Fund • SEB Fund 1 - SEB Global Chance / Risk Fund • SEB Fund 1 - SEB Sustainability Fund Europe • SEB Fund 1 - SEB Sustainability Nordic Fund The following Sub-Funds are not distributed in Germany: • SEB Fund 1 - SEB Europe Index Fund • SEB Fund 1 - SEB Norway Focus Fund • SEB Fund 1 - SEB US All Cap The information disclosed above is as at 31 December 2019 and this may change after the year end.
    [Show full text]
  • SEB's Results for the Second Quarter 2019
    Press release Stockholm, 28 June 2019 Invitation – SEB’s results for the second quarter 2019 SEB’s results for the second quarter 2019 will be announced on Friday, 12 July, at 07:00 (Swedish time). In addition, presentations and the Fact Book will be available on sebgroup.com/ir. You are invited to participate in the following presentations: Results presentation Time: 09:00 (Swedish time) Venue: Kungsträdgårdsgatan 8, Stockholm Johan Torgeby, President and CEO, will present and comment upon the results. The presentation will be conducted in English. The results presentation can be followed live on sebgroup.com/ir and will also be available afterwards. Telephone conference Time: 13:00 (Swedish time) Johan Torgeby, Masih Yazdi, Finance Director, and Christoffer Geijer, Head of Investor Relations, will present the results, followed by a Q&A session. To participate, please call +44 (0)2071 928 000, quote conference id: 4839848 , at least 10 minutes in advance. The telephone conference audio webcast can be followed live on sebgroup.com/ir and will also be available afterwards. For further information, please contact Christoffer Geijer, Head of Investor Relations +46-8-763 83 19, +46-70-762 1006 Frank Hojem, Head of Media Relations +46-8-763 99 47, +46-70-763 99 47 SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. SEB takes a long term perspective and supports its customers in good times and bad. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services.
    [Show full text]
  • Skandinaviska Enskilda Banken AB (Publ) (Herein the “Bank”, Or “SEB AB”) Is a Foreign Banking Organization Duly Organized and Existing Under the Laws of Sweden
    SEB U.S. Resolution Plan Public Section October, 2013 TABLE OF CONTENTS Section 1: Public Section Introduction Summary of resolution plan A. Description of material entities B. Description of core business lines C. Summary financial information D. Description of derivative and hedging activities E. Memberships in material payment, clearing and settlement systems F. Description of foreign operations G. Material supervisory authorities H. Principal officers I. Corporate governance structure and processes related to resolution planning J. Description of material management information systems K. High-level description of resolution strategy This document contains certain forward-looking statements that reflect SEB’s current views with respect to future events. Forward-looking statements are all statements in this document that do not relate to historical facts and events. While these forward-looking statements represent SEB’s judgments and future expectations concerning the development, actual developments could differ from SEB’s expectations. SEB undertakes no obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise. 1 Introduction Skandinaviska Enskilda Banken AB (publ) (herein the “Bank”, or “SEB AB”) is a foreign banking organization duly organized and existing under the laws of Sweden. In the United States, the Bank maintains a New York state-licensed branch (the “New York Branch”) and operates subsidiaries, as described below. This resolution plan (the “U.S. Resolution Plan”) is being filed by the Bank pursuant to Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”) and 12 C.F.R.
    [Show full text]
  • Annual Report 2014
    ANNUAL REPORT 2014 Dress €99 Blazer €19.99 H&M SPRING 2015 MODERN ESSENTIALS SELECTED BY DAVID BECKHAM SPRING 2015 Shirt €19.99 H&M SPRING 2014 Sweater € 19.95 — H&M ANNUAL REPORT 2014 — Contents H&M IN WORDS AND PICTURES This is H&M 8 CEO letter 10 2014 in brief 12 Our brands 16 Sustainable development 36 Our employees 42 Expansion 46 History 54 H&M IN FIGURES Administration report, including proposed distribution of earnings 60 Group income statement 66 Consolidated statement of comprehensive income 66 Group balance sheet 67 Group changes in equity 68 Group cash flow statement 69 Parent company income statement 70 Parent company statement of comprehensive income 70 Parent company balance sheet 71 Parent company changes in equity 72 Parent company cash flow statement 73 Notes to the financial statements 74 Signing of the annual report 90 Auditor’s report 91 Corporate governance report, including information about the board of directors 92 Auditor’s statement on the corporate governance report 104 Five year summary 106 The H&M share 107 Financial information and contact details 108 H&M’s annual accounts and consolidated accounts for the financial year 2013/14 comprise pages 60–90. — THIS IS H&M — Fashion and quality at the best price H&M is a leading global fashion company with strong values and a clear business concept. H&M has a passion for fashion, a belief in people and a desire to always exceed customers’ expectations – and to do so in a sustainable way. H&M’s busi- ness concept is to offer fashion and quality at the best price.
    [Show full text]
  • SEB Creates New Division to Further Sharpen Its Private Banking Offering
    SEB creates new division to further sharpen its Private Banking offering SEB is establishing a new division, Private Wealth Management & Family Office, to further strengthen its focus on entrepreneurs, individuals and families and their businesses in SEB’s home markets. William Paus, today Co-Head of SEB’s Large Corporates & Financial Institutions division, has been appointed Head of the new division. Ever since SEB was founded, the bank has supported individuals and companies in their value creation. Private Banking is part of SEB's DNA, and the segment has seen its assets under management (AuM) grow to more than SEK 1,000bn over the years, corresponding to nearly 50 per cent of SEB’s total AuM. Fuelled by successful entrepreneurship, a favourable macroeconomic environment including demographic factors and strong financial markets, the global Private Banking industry is growing. By gathering SEB’s expertise within Private Banking in one division, the bank further sharpens its offering in response to the continuously changing needs of the customers, aiming to grow SEB’s savings and investments business. “SEB has strong and longstanding relationships with customers ranging from entrepreneurs to professional family offices, and I am confident that we, by creating this dedicated Private Wealth Management & Family Office division, will be able to become an even more relevant partner for both new and existing customers in our home markets. Our aim is to take a leading position in this increasingly important segment by offering first-class investment advisory based on SEB's entire product range of analysis, IPOs and alternative investments. I am delighted that William Paus is taking on this new challenge within the bank,” says Johan Torgeby, SEB’s President and CEO.
    [Show full text]
  • Here Is a Lag, We Predict Some Further Upward Pressure on CPI Prices This Month
    Macro & FICC research Week Ahead Friday, 9 July 2021 Key Economic Indicators & Events: 12 July – 18 July, 2021 DueDate to USCE SgovernmentT Country Event shutdown many US calender events are cancelled.Period If SEBthe forecast*shutdown ends.Consensus* US indicators not includedLast* in this calenderMon 12 Auctions: could be U.S. presented. to sell bills, 3y notes & 10y notes (17:30, 19:00, 19:00). Reports: Kinnevik. Speeches: Fed’s Kashkari speaks at Townhall (18:00). Other: Bloomberg July Eurozone/Germany economic survey (08:30/08:35), Riksbank publishes Minutes from June 30 meeting (09:30), Eurogroup meeting (13:00), National Bank publishes Inflation Report. 01:50 JAP Core machine orders May 2.5/6.3 0.6/6.5 01:50 JAP PPI Jun 0.5/4.7 0.7/4.9 06:30 SWE SEB Swedish housing-price indicator 65 08:00 DEN CPI Jun -0.1/1.6 --- 0.2/1.7 08:00 JAP Machine tool orders yoy Jun P --- 141.9 12:00 SWE Swedish weekly unemployment (PES) Tue 13 Auctions: Germany to sell 2y bonds (11:30), U.S. to sell bills & 30y bonds (17:30, 19:00). Reports: JM, DNB Bank, JPMorgan Chase. Speeches: Riksbank's Ingves participates in panel discussion (15:00), Fed Hosts event on racism and the economy (18:00). Other: European Council: Economic and Financial Affairs Council, France: CPI final (08:45). 06:00 SWE PES unemployment rate Jun --- 3.6 08:00 GER CPI | CPI EU harmonized Jun F --- 0.4/2.3 | 0.4/2.1 12:00 US NFIB small business optimism Jun 100.0 99.6 14:30 US CPI | CPI ex.
    [Show full text]
  • Creating the Technology to Connect the World
    Nokia Annual Report on Form 20-F 2019 on Form Nokia Annual Report Creating the technology to connect the world Nokia Annual Report on Form 20-F 2019 As filed with the Securities and Exchange Commission on March 5, 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 Commission file number 1-13202 Nokia Corporation (Exact name of Registrant as specified in its charter)) Republic of Finland (Jurisdiction of incorporation) Karaportti 3 FI-02610 Espoo, Finland (Address of principal executive offices) Esa Niinimäki, Deputy Chief Legal Officer, Corporate, Telephone: +358 (0) 10 44 88 000, Facsimile: +358 (0) 10 44 81 002, Karakaari 7, FI 02610 Espoo, Finland (Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person) Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934 (the “Exchange Act”): Title of each class Trading Symbol(s) Name of each exchange on which registered American Depositary Shares NOK New York Stock Exchange Shares New York Stock Exchange(1) (1) Not for trading, but only in connection with the registration of American Depositary Shares representing these shares, pursuant to the requirements of the Securities and Exchange Commission. Securities registered pursuant to Section 12(g) of the Exchange Act: None Securities for which there is a reporting obligation pursuant to Section 15(d) of the Exchange Act: None Indicate the number of outstanding shares of each of the registrant’s classes of capital or common stock as of the close of the period covered by the annual report.
    [Show full text]
  • Buyback of Own Shares for the Purpose of a Capital Reduction Trading on a Second Trading Line on SIX Swiss Exchange
    Buyback of own shares for the purpose of a capital reduction Trading on a second trading line on SIX Swiss Exchange ABB Ltd, Zurich On 25 March 2021, the Board of Directors of ABB Ltd, Affolternstrasse 44, 8050 Zurich ("ABB") decided to repurchase its registered shares for a maximum amount of USD 4.3 billion for the purpose of a capital reduc- tion. The Board of Directors of ABB intends to propose to future Annual General Meetings capital reductions through the cancellation of the registered shares repurchased on the second trading line. By way of illustration only, the repurchase volume of a maximum of USD 4.3 billion, based on the closing price of ABB’s registered shares on 6 April 2021 of CHF 29.25 and a USD/CHF exchange rate of 0.93, corre- sponds to up to 136.7 million registered shares or up to 6.3 % of the current share capital and voting rights of ABB. The share buyback program was exempted from the provisions on public takeover offers provided for in section 6.1 of the Circular no. 1 of the Swiss Takeover Board dated 27 June 2013 (status as of 1 January 2016) and refers to a maximum of 205,314,826 registered shares, equivalent to a maximum of 9.47 % of the share capi- tal currently registered in the commercial register (the share capital currently registered in the commercial regis- ter amounts to CHF 260,177,791.68, divided into 2,168,148,264 registered shares, each with a nominal value of CHF 0.12).
    [Show full text]
  • Dividend and Compensation Payments in Light of Covid-19 Pandemic
    DIVIDEND AND COMPENSATION PAYMENTS IN LIGHT OF COVID-19 PANDEMIC Information as of 18 November 2020 Annual General Meeting 2019 dividend Company Index Short-time work Board compensation Executive compensation (2020) (paid 2020) ABB SMI unchanged (26.03.2020) unchanged CHF 0.80 - 10% reduction of board compensation for the duration of the 10% reduction of salary for the duration of the crisis crisis Adecco SMI unchanged (16.04.2020) unchanged CHF 2.50 yes - - Aevis Other unchanged (30.04.2020) cancelled - - - Alcon SMI unchanged (06.05.2020) postponed to 2021 - - - Also Other unchanged (24.03.2020) unchanged CHF 3.25 - - - ams SMIM unchanged (03.06.2020) - - - - APG/SGA Other unchanged (14.05.2020) cancelled (from CHF 11.00) yes - 20% reduction of base salary Aryzta Other postponed to 15.12.2020 postponed yes 30% reduction of fees for 3 months 30% reduction salary reduction for 3 months (15% for wider leadership team) Autoneum Other unchanged (25.03.2020) cancelled yes - 10% reduction of base salary Baloise SMIM unchanged (24.04.2020) unchanged CHF 6.40 - - - Barry Callebaut SMIM unchanged (09.12.2020) - - - - BB Biotech SMIM unchanged (19.03.2020) unchanged CHF 3.40 - - - Bobst Other unchanged (07.04.2020) unchanged CHF 1.50 - - - Bossard Other unchanged (08.04.2020) reduced by 50% to CHF 2.00 4% reduction of compensation 4% salary reduction Bucher Industries SMIM unchanged (24.04.2020) unchanged CHF 8.00 yes (mainly FR and IT) - - BVZ Other unchanged (16.04.2020) reduced to CHF 7.50 - - - Calida Group Other brought forward to cancelled
    [Show full text]
  • ABB Group Strategy Update Presentation 2019
    — ABB LTD, FEBRUARY 28, 2019 ABB: shaping a leader focused in digital industries Strategy update and implementation roadmap Ulrich Spiesshofer, CEO and Timo Ihamuotila, CFO — Important notices This presentation includes forward-looking information and statements including statements concerning the outlook for our businesses. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance, including global economic conditions, and the economic conditions of the regions and industries that are major markets for ABB Ltd. These expectations, estimates and projections are generally identifiable by statements containing words such as “expects,” “believes,” “estimates,” “targets,” “plans,” “outlook”, “on track”, “2019 framework” or similar expressions. There are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this presentation and which could affect our ability to achieve any or all of our stated targets. The important factors that could cause such differences include, among others: – business risks associated with the volatile global economic environment and political conditions – costs associated with compliance activities – market acceptance of new products and services – changes in governmental regulations and currency exchange rates, and – such other factors as may be discussed from time to time in ABB Ltd’s filings with the U.S. Securities and Exchange Commission, including its Annual Reports on Form 20-F. Although ABB Ltd believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.
    [Show full text]
  • Annual and Sustainability Report 2020 — 1 Introduction — This Is SEB
    Annual and Sustainability Report Our customers and stakeholders We are always putting our customers' needs at the core of our business. Their high expectations for both personal and digital services, for quality advice and sustainable solutions drive SEB’s business development and offerings. Our 15,500 employees work as a team to serve our customers and create value for our shareholders and for the societies where we operate. 2,000 Large corporations 1,100 Financial institutions 400,000 Small and medium-sized companies Of these, some 272,000 are home bank customers. 4,000,000 Private individuals Of these some 1.5 million are home bank customers. 15,500 Employees 268,000 Shareholders Society Contents Introduction This is SEB 1 Statement of the Chair 6 Statement of the President 8 Value creation Business environment 12 Long-term value creation 14 Overall targets and outcome 16 Our business Strategy and business plan 20 Our customers 28 Our employees 32 Our shareholders 36 Our role in society 38 Sustainability Sustainability report 40 Report of the Directors Financial review of the group 60 Risk, liquidity and capital management 74 Corporate governance 80 Financial statements and notes Financial statements 96 Notes to the financial statements 106 Five-year summary 188 Proposal for the distribution of profit 190 Signatures of the Board of Directors and the President 191 Auditor's report 192 Sustainability notes 196 Other information 215 Definitions 215 Pages 59–191 constitute SEB's formal annual report. SEB's sustainability work is described in the sustainability report on pages 40–58 and 196–213.
    [Show full text]