DOCSLIB.ORG

Telia Company Annual and Sustainability Report 2017

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Telia Company Annual and Sustainability Report 2017 WITH FOCUS ON THE DIGITAL FUTURE ANNUAL AND SUSTAINABILITY REPORT 2017 The audited annual and consoli- The responsible business infor- dated accounts comprise pages mation (which also constitutes CONTENTS 25–202 and 211. The corporate the statutory sustainability governance statement examined report) reviewed by the auditors by the auditors comprises pages comprises pages 13–14, 17–18, 74–91. 49–65 and 203–210. OUR COMPANY FINANCIAL STATEMENTS Telia Company in one minute ................................................ 4 Consolidated statements of comprehensive income .......... 92 2017 in brief ........................................................................... 6 Consolidated statements of financial positions .................. 93 Created value ........................................................................ 7 Consolidated statements of cash flows .............................. 94 Responsible business achievements .................................... 8 Consolidated statements of changes in equity ................... 95 Where we operate ............................................................... 10 Notes to consolidated financial statements ........................ 96 Comments by the Chair ...................................................... 12 Parent company income statements ................................. 174 Comments by the CEO ....................................................... 13 Parent company statements of comprehensive income ... 175 Trends and stakeholders ..................................................... 15 Parent company balance sheets ....................................... 176 Strategy ............................................................................... 20 Parent company cash flow statements ............................. 177 Parent company statements of changes in DIRECTORS’ REPORT shareholders' equity .......................................................... 178 Notes to parent company financial statements................. 179 Group development ............................................................. 25 Country development .......................................................... 42 Responsible business ......................................................... 49 GRI INDEX Risks and uncertainties ....................................................... 66 GRI Index ........................................................................... 203 CORPORATE GOVERNANCE OTHER INFORMATION Corporate Governance Statement ...................................... 74 Board of Directors’ and President’s certification ............... 211 Board of Directors ............................................................... 88 Auditors’ Report ................................................................ 212 Group Executive Management ............................................ 90 Auditors’ Limited Assurance Report on the Responsible Business information .................................... 218 United Nations Global Compact principles ....................... 219 UK Modern Slavery Act Statement .................................... 220 Five-year summary ............................................................ 221 Alternative performance measurements ........................... 223 Definitions .......................................................................... 226 Annual General Meeting 2018 ........................................... 228 Contact Telia Company ..................................................... 229 Telia Company AB (publ) • SE-169 94 Solna • Sweden Corporate Reg. No. 556103-4249 • Registered office: Stockholm Telephone: +46 (0)8 504 550 00 • www.teliacompany.com 4 OUR COMPANY TELIA COMPANY IN ONE MINUTE Best mobile network in 5 of 7 countries SEK 8.7 billion paid in dividend to 7 shareholders CREATED VALUE Telia has the happiest TV customers CURIOUS ON HOW WE in Sweden CREATE VALUE? 13CEO THE JOURNEY CONTINUES. PLEASE JOIN US! 20 #1 OUR STRATEGY THIS IS HOW WE FULFILL OUR STRATEGY Our Company Telia Company in one minute TELIA COMPANY IN ONE MINUTE WHO WE ARE We are Telia Company, the new generation telco. We provide communication services helping millions of people to be connected and communicate, do business and be entertained. PURPOSE 20,700 79.9 Bringing the world closer Employees SEK billion in net sales VALUES Dare, Care, Simplify WHAT WE DO social-, economic and environmental of new start-ups and major service We connect businesses, individuals, development and pave the way for providers. Together we provide the families and communities via fixed an inclusive society. People can stay infrastructure for creativity, growth and mobile communication solutions. connected no matter how far apart and change. Our services have a positive effect on they are. We work with an ecosystem WE PROVIDE MOBILE VOICE AND DATA FIXED VOICE AND DATA IP CAPACITY TV AND MEDIA INTERNET CLOUD SECURITY ICT SERVICES DEVICES FINANCING OF THINGS SERVICES 4 Annual and Sustainability Report 2017 Our Company Directors’ Report Corporate Governance Financial Statements GRI Index Other WHERE WE OPERATE We stand firmly in the Nordics and Baltics and our fiber backbone stretches around the globe. Our mobile operations in Eurasia are held for sale. Sweden Norway Finland Denmark Estonia Latvia Lithuania We also have mobile operations in Georgia, Kazakhstan, Moldova and Uzbekistan. The operation in Azerbaijan was disposed on March 5, 2018. Telia Carrier's fiber backbone runs around the world and is the second largest in the world. OUR STAKEHOLDERS ADJUSTED EBITDA We create value for our customers as well as PER COUNTRY for other stakeholders: • Consumers n Sweden, 54% • Business customers n Finland, 17% n Norway, 14% • Employees n Denmark, 3% • Investors n Estonia, 3% • Suppliers n Lithuania, 5% • Society n Latvia, 2% n Telia Carrier, 2% 5 Annual and Sustainability Report 2017 Our Company 2017 in brief 2017 IN BRIEF FINANCIAL AND MARKET HIGHLIGHTS 2017 Operational free cash flow Adjusted EBITDA Dividend Outlook: Operational free cash flow from Outlook: Adjusted EBITDA in con- Outlook: A minimum of 80 percent of continuing operations, excluding licenses tinuing operations in local currencies, free cash flow from continuing opera- and dividends from associated companies, is excluding acquisitions and disposals, is tions, excluding licenses. expected to be above SEK 7.5 billion. expected to be around the 2016 level. Outcome: 81% Outcome: SEK 9.7 billion Outcome: -0.2% CONTINUING OPERATIONS 79,867 25,438 31.9 (84,178) (25,836) (30.7) Net sales Adjusted EBITDA Adjusted EBITDA margin (SEK million) (SEK million) (%) CONTINUING AND DISCONTINUED OPERATIONS 2.22 2.30 10,146 1.14 (0.86) (2.00) (6,496) (1.69) Net debt/EBITDA Proposed dividend Total net income excluding adjustment items Earnings per share (SEK) per share (SEK) (SEK million) (multiple, rolling 12 months) NET SALES SPLIT per country per service per segment n Sweden, 46% n Mobile, 45% n B2C, 50% n Finland, 17% n Fixed telephony, 5% n B2B, 35% n Norway, 13% n Fixed broadband, 8% n Wholesale and Other, 15% n Denmark, 7% n TV, 4% n Estonia, 4% n Business solutions, 7% n Lithuania, 4% n Other, 9% n Latvia, 2% n Telia Carrier, 7% n Telia Carrier, 7% n Equipment, 15% 6 Annual and Sustainability Report 2017 Our Company Directors’ Report Corporate Governance Financial Statements GRI Index Other CREATED VALUE WHAT WE CREATE CREATED STAKEHOLDER VALUE CONSUMERS Halebop has the Telia has the happiest happiest mobile TV customers in 67,794 customers in Sweden1 Sweden1 Service revenues, SEK million #1 #1 9.7 Operational free cash flow, BUSINESS CUSTOMERS SEK billion Telia Carrier won the Best Customer Care award in the 2017 World Communications Award 16.7 Mobile subscriptions, million #1 2.2 EMPLOYEES Fixed voice subscriptions, SEK billion salaries Purple Voice score (77) million 2.5 12.5 79 Broadband subscriptions, million INVESTORS 1.7 Total shareholder SEK billion dividend TV subscriptions, million return paid 5.0% 8.7 CO2 269,000 Tons CO2e emissions SUPPLIERS AND PARTNERS SEK billion CAPEX >97% excluding licenses 4G population coverage in the Nordics 15.2 1.7 SOCIETY Million households in Sweden reached with fiber SEK billion total tax Best mobile network contribution2 in 5 of 7 countries >110 #1 Countries in which Telia Carrier 18 connects their customers 1) According to Svenskt Kvalitetsindex, SKI. 2) See GRI Index, G4-EC1. 7 Annual and Sustainability Report 2017 Our Company Responible business achievements RESPONSIBLE BUSINESS ACHIEVEMENTS FOCUS AREA ACHIEVEMENTS IN 2017 Anti-bribery and corruption • Third-party anti-bribery and corruption (ABC) due care guidelines issued • Case-based ABC training on third-party due care guidelines conducted for ethics and compliance professionals in region Eurasia • Seven group and six country ethics and compliance officers and two third-party due diligence specialists certified • Approximately 2,500 employees completed ABC e-learning Freedom of expression and • Eighth Law Enforcement Disclosure Report covering eight surveillance privacy countries published • Four countries covered regarding information on local surveillance local legislation • Information on local legislation on direct access covering all main markets • More than half of closed unconventional requests challenged in some way, often by transparency • Contributed to the Industry Dialogue and the Global Network Initiative joining forces in March Customer privacy • Established group-wide Data Protection Regulation (GDPR) comp liance program
Load more

Recommended publications
  • 20170823 Atlas Copco Announces the Management
    Press Release from the Atlas Copco Group Atlas Copco announces the management team of Epiroc – the company planned to be dividended out in 2018 Stockholm, Sweden, August 23, 2017: Atlas Copco has completed the recruitment of the management team for Epiroc AB. Including the previously appointed President and CEO Per Lindberg it has five positions. The management team will be in place latest in the first quarter of 2018, subject to resignation periods. The five members of Epiroc’s management team will be: Per Lindberg, President and CEO Helena Hedblom, Senior Executive Vice President Mining and Infrastructure Anders Lindén, Senior Vice President Controlling and Finance (CFO) Mattias Olsson, Senior Vice President Corporate Communications Jörgen Ekelöw, Senior Vice President General Counsel On July 18, 2017, Atlas Copco announced that Per Lindberg has been appointed President and CEO of Epiroc, the company Atlas Copco plans to dividend out in 2018. Per Lindberg is currently the President and CEO of BillerudKorsnäs AB, a leading supplier of renewable packaging materials and solutions. Per Lindberg’s mission will be to position Epiroc as a leading productivity partner for customers in mining, infrastructure and natural resources, and to further develop and grow the Epiroc business. The four other members of the Epiroc management team will be: Helena Hedblom, Senior Executive Vice President Mining and Infrastructure of Epiroc. Helena Hedblom is currently Senior Executive Vice President of Atlas Copco’s Mining and Rock Excavation Technique business area. Her role at Epiroc will be to run the Mining and Infrastructure business area with seven division presidents reporting directly to her.
    [Show full text]
  • 20210311 Annual Report Incl. Sustainability
    Atlas Copco Annual report 2020 Atlas Copco is the home of industrial ideas. Our innovative products, solutions, and services are demanded by every type of industry. They enable everything from industrial automation to reliable medical air solutions. This annual report reflects Atlas Copco’s mission of creating sustainable, profitable growth. It integrates financial, sustainability, and governance information to describe the Group in a comprehensive and cohesive manner. CONTENTS Summary of 2020 1 Industrial ideas drive development President and CEO 3 Atlas Copco has been turning THIS IS THE ATLAS COPCO GROUP great ideas into business-critical This section contains Atlas Copco’s vision, mission, benefits since 1873. By listening to strategy, goals, structure and governance, how we do our customers and knowing their business and create value for all stakeholders. 5 needs, we deliver value and innovate with the future in mind. Our goals 6 THE YEAR IN REVIEW Cover image: Electric tightening tool from Atlas Administration report Copco used at a robot automated This section describes Atlas Copco’s annual station in the electronics industry. performance and achievements. 13 Compressor Technique 22 Vacuum Technique 25 Industrial Technique 28 Power Technique 31 GRI Standards and external review Delivering lasting value in a sustainable way 34 Atlas Copco reports on its sustainability work for 2020 according to Products and service 35 GRI Standards, Global Reporting Initiative’s reporting guidelines, level Core, which also constitutes Atlas Copco’s statutory sustainability report. People 36 Ernst & Young has expressed an opinion that a statutory sustainability Safety and well-being 38 report has been prepared according to the Swedish Annual Accounts Act, and has performed a limited review of the sustainability report according Ethics 39 to GRI Standards, core option, see page 139.
    [Show full text]
  • Telia Company 4 På En Minut
    BRINGING THE WORLD CLOSER ÅRS- OCH HÅLLBARHETS- REDOVISNING 2018 VÅRT FÖRETAG TELIA COMPANY 4 PÅ EN MINUT HÅLLBARHET VI STÅR FAST VID ETT ETISKT, ANSVARS- 8 FULLT FÖRETAGANDE VD 2018 VAR ETT 10 HÄNDELSERIKT ÅR TRENDER ETT KONSTANT ÖKANDE BEHOV 12 AV UPPKOPPLING Den reviderade årsredovisnin- Den av revisorerna översiktligt gen och koncernredovisningen granskade hållbarhetsinforma- INNEHÅLL omfattar sidorna 16–207 och tionen (som också utgör den 224. Den granskade bolagsstyr- lagstadgade hållbarhetsrap- ningsrapporten ingår på sidorna porten) omfattar sidorna 40–62 71–86. och 208–223. VÅRT FÖRETAG RÄKENSKAPER Telia Company på en minut ................................................... 4 Koncernens totalresultatrapporter ...................................... 87 2018 i korthet ......................................................................... 6 Koncernens balansrapporter ............................................... 88 Skapat värde .......................................................................... 7 Koncernens kassaflödesrapporter ...................................... 89 Hållbarhet – höjdpunkter ........................................................ 8 Koncernens rapporter över förändringar i eget kapital ....... 90 Styrelseordförandens kommentar .......................................... 9 Koncernens noter ................................................................ 91 Koncernchefens kommentar ................................................ 10 Moderbolagets resultaträkningar .....................................
    [Show full text]
  • Countries Partner Name Afghanistan Afghan Wireless Communication Company (AFGAW) Afghanistan TDCA Corporation (AFGTD) Albania Albtelecom Sh.A
    Countries Partner name Afghanistan Afghan Wireless Communication Company (AFGAW) Afghanistan TDCA Corporation (AFGTD) Albania ALBtelecom sh.a. (ALBEM) Algeria OPTIMUM TELECOM ALGERIE Spa (DZAOT) Andorra Andorra Telecom SAU (ANDMA) Angola Movicel - Telecomunicacoes S.A. (AGOMV) Angola Unitel S.A. (AGOUT) Anguilla Cable and Wireless (Anguilla) Ltd (AIACW) Antigua and Barbuda Cable & Wireless Antigua & Barbuda Ltd (ATGCW) Argentina Telecom Personal S.A. (ARGTP) Armenia Armenia Telephone Company (Armentel) (ARM01) Aruba Servicio di Telecomunicacion di Aruba (ABWSE) Australia Telstra Corporation Limited (AUSTA) Austria Hutchison Drei Austria GmbH (AUTCA) Austria T-Mobile Austria GmbH (AUTMM) Austria A1 Telekom Austria AG (AUTON) Austria A1 Telekom Austria AG (AUTPT) Azerbaijan Azercell Telecom LLC (AZEAC) Azerbaijan Bakcell Limited Liable Company (AZEBC) Bahamas The Bahamas Telecommunications Company (BHSBH) Bahrain Bahrain Telecommunications Company (BHRBT) Bangladesh Grameen Phone Ltd. (BGDGP) Barbados Cable & Wireless (Barbados) Ltd (BRBCW) Belarus JLLC Mobile TeleSystems (BLR02) Belarus Belarusian Telecommunications Network CJSC (BLRBT) Belgium Orange Belgium (BELMO) Belgium Proximus PLC (BELTB) Belize Belize Telemedia Limited (BLZ67) Benin Spacetel-Benin (BENSP) Bermuda Bermuda Digital Communications Ltd. (BMUBD) Bhutan Tashi InfoComm Ltd Thimphu (BTNTC) Bolivia Nuevatel PCS de Bolivia S.A. (BOLNT) Bosnia and Herzegovina Public Enterprise Croatian Telecom JSC (BIHER) Botswana Mascom Wireless (Pty) Limited (BWAGA) Botswana Orange Botswana
    [Show full text]
  • Annual Report 2010 2 Traction Annual Report 2010 Shareholder Information
    ANNUAL REPORT 2010 2 TRACTION ANNUAL REPORT 2010 SHAREHOLDER INFORMATION Ankarsrum Assistent AB SHAREHOLDER INFORMATION 2011 May 9 Interim Report for the period January – March May 9 Annual General Meeting 2011 July 21 Interim Report for the period January – June October 27 Interim Report for the period January – September Subscription to financial information via e-mail may be made at traction.se, or by e-mail to [email protected]. All reports during the year will be available at the Company’s website. Traction’s official annual accounts are available for downloading at the website well before the Annual General Meeting. TRACTION ANNUAL REPORT 2010 3 CONTENTS CONTENTS 4 2010 SUMMARY 6 PRESIDENT’S STATEMENT 8 TRACTION’S BUSINESS 1 5 BUSINESS ORGANISATION 16 LISTED ACTIVE HOLDINGS 19 UNLISTED ACTIVE HOLDINGS 23 SUBSIDIARIES 26 OWNERSHIP POLICY 28 TRACTION FROM AN INVESTOR PERSPECTIVE 32 A SMALL SELECTION OF TRANSACTIONS OVER THE PAST TEN YEARS 36 THE TRACTION SHARE 38 BOARD OF DIRECTORS 3 9 ADDRESSES Nilörngruppen AB 4 TRACTION ANNUAL REPORT 2010 TRACTION IN BRIEF 2010 SUMMARY • Profit after taxes amounted to MSEK 206 (SEK 12.11 per share). • The change in value of securities was MSEK 110 (267). • Operating profit in the operative subsidiaries amounted to MSEK 67 (–13). • Underwriting of new issues in Switchcore, Rörvik Timber, PA Resources and Alm Brand, which generated revenue of MSEK 15.5 (7.8). • The return on equity was 15 (25) %. • Equity per share amounted to SEK 95 (85). • Sharp increases in profit of Nilörngruppen and Ankarsrum Motors. • Traction’s liquid capacity for new, active engagements amounts to MSEK 800.
    [Show full text]
  • Before the FEDERAL COMMUNICATIONS COMMISSION Washington, D.C
    Before the FEDERAL COMMUNICATIONS COMMISSION Washington, D.C. 20554 In the Matter of ) ) Telia Company AB, Transferor ) WC Docket No. 20-___ ) Telia Carrier U.S. Inc., Licensee ) ) and Oura BidCo US, Inc., Transferee ) ITC-T/C-2020-_____ ) Joint Application for Consent to Transfer ) Control of International and Domestic Authority ) Pursuant to Section 214 of the ) Communications Act of 1934, as Amended ) JOINT APPLICATION FOR CONSENT TO TRANSFER CONTROL OF DOMESTIC AND INTERNATIONAL AUTHORITY PURSUANT TO SECTION 214 OF THE COMMUNICATIONS ACT OF 1934, AS AMENDED Pursuant to Section 214 of the Communications Act of 1934, as amended, ("the Act"), 47 U.S.C. § 214, and Sections 63.04 and 63.24 of the Commission's rules, 47 C.F.R. §§ 63.04 and 63.24, Telia Company AB (“Transferor” or “Telia Company”), Telia Carrier U.S. Inc. (“Licensee” or “Telia Carrier”), and Oura BidCo US, Inc. (“Transferee” or “BidCo US”) hereby request Commission consent to the transfer of control of domestic and international Section 214 authority held by Telia Carrier from Telia Company to Oura BidCo US, Inc., which is an indirect wholly owned U.S. subsidiary of Polhem Infra KB.1 This Joint Application is being filed simultaneously with the Wireline Competition Bureau and the International Bureau. I. Description of the Applicants A. Transferor and Licensee 1 Transferor, Licensee and Transferee may be collectively referred to as the “Applicants” herein. Licensee Telia Carrier has operated in the U.S. since 1996 and operates a nationwide fiber-optic communications network. Licensee historically has provided carrier-grade or “wholesale” services to carriers, content providers, operators and enterprises and offers a range of information services and telecommunications services.
    [Show full text]
  • Annual and Sustainability Report 2020 Content
    BETTER CONNECTED LIVING ANNUAL AND SUSTAINABILITY REPORT 2020 CONTENT OUR COMPANY Telia Company at a glance ...................................................... 4 2020 in brief ............................................................................ 6 Comments from the Chair ..................................................... 10 Comments from the CEO ...................................................... 12 Trends and strategy ............................................................... 14 DIRECTORS' REPORT Group development .............................................................. 20 Country development ........................................................... 38 Sustainability ........................................................................ 48 Risks and uncertainties ......................................................... 80 CORPORATE GOVERNANCE Corporate Governance Statement ......................................... 90 Board of Directors .............................................................. 104 Group Executive Management ............................................ 106 FINANCIAL STATEMENTS Consolidated statements of comprehensive income ........... 108 Consolidated statements of financial position ..................... 109 Consolidated statements of cash flows ............................... 110 Consolidated statements of changes in equity .................... 111 Notes to consolidated financial statements ......................... 112 Parent company income statements ...................................
    [Show full text]
  • 20170310 Annual Report Incl. Sustainability Report and Corporate Governance Report 2016
    ATLAS COPCO Annual report 2016 Atlas Copco believes in... ... delivering innovative products, reliable services and profitable growth while being a responsible corporate citizen. This annual report reflects Atlas Copco’s mission of creating sustainable, profitable growth and it integrates financial, sustainability and governance information in order to describe Atlas Copco in a comprehensive and cohesive manner. CONTENTS Atlas Copco Group Inside front cover NEW BUSINESS AREA President and CEO 2 ANNOUNCED THIS IS ATLAS COPCO 6 Vacuum Technique This section contains Atlas Copco’s vision, mission, business area, strategy, structure and governance, how we do operational from business and create value. January 1, 2017. THE YEAR IN REVIEW Administration report See page 25 This section describes Atlas Copco’s annual Detail from front page: performance and achievements. 14 An Edwards nEXT turbomolecular Compressor Technique 20 vacuum pump is being checked after leak test prior to fitting to the Industrial Technique 26 final test station. Mining and Rock Excavation Technique 30 Construction Technique 34 RECORD PROFIT, ORDERS Risks, risk management and opportunities 38 AND STRONG CASH FLOW See page 16–18 Innovation 42 Employees 46 Society 49 The Atlas Copco share 54 Corporate governance 56 NOTICE The amounts are presented in MSEK unless otherwise indicated OUR FINANCIAL RESULTS and numbers in parentheses represent comparative figures for the Financial statements (Group) 66 preceding year. The figures presented in this report refer to continuing operations unless otherwise stated. Notes (Group) 71 FORWARD-LOOKING STATEMENTS Financial statements (Parent) 110 Some statements in this report are forward-looking, and the actual out- Notes (Parent) 112 comes could be materially different.
    [Show full text]
  • Congrats on Choosing Telia Prepaid
    CONGRATS ON CHOOSING EXTRAS AND TOP-UP APP TELIA PREPAID A starter top-up of 7 € Read this guide and find out what your prepaid Your Telia Prepaid SIM comes with a €7 starter can do! top-up, which you can use freely for calls, 5 € with your first top-up messages or data. You get 5 € of top-up bonus when you top up Top up your balance using the Telia Prepaid your Telia Prepaid for the first time. top-up app, at an R-kioski, Telia Shop or online at telia.fi/prepaid. Telia Prepaid Bonus For each top-up you have made online or Amazing extras through the app, you will receive bonus points – you can use the bonus points to get a 5 € with your first top-up discount on package top-up fees. You get 5 € of top-up bonus when you top up Unlimited 4G surfing at up to 100 Mbit/s your Telia Prepaid for the first time. The top-up bonus can be used for stand- ard-rate domestic calls and messages, and 2G, ACTIVATION 3G and 4G data at the listed prices. The top-up Thanks for choosing bill-free Telia Prepaid! bonus cannot be used for calls or messages to Just a few little things before you can start service numbers, company numbers or interna- using your Prepaid. tional numbers. • Scratch out the PIN code at the back of the SIM frame. • Check the right size for your phone, and TELIA PREPAID BONUS BENEFIT remove the card from the frame.
    [Show full text]
  • Telia Company – Annual and Sustainability Report 2019
    BRINGING THE WORLD CLOSER ANNUAL AND SUSTAINABILITY REPORT 2019 CONTENT OUR COMPANY Telia Company in one minute ................................................ 4 2019 in brief ............................................................................ 6 How we create value ............................................................. 8 Comments from the CEO ..................................................... 10 Trends and strategy .............................................................. 12 DIRECTORS' REPORT Group development ............................................................. 16 Country development .......................................................... 32 Sustainability ....................................................................... 41 Risks and uncertainties ....................................................... 62 CORPORATE GOVERNANCE Corporate Governance Statement ....................................... 70 Board of Directors ............................................................... 82 Group Executive Management ............................................ 84 FINANCIAL STATEMENTS Consolidated statements of comprehensive income .......... 86 Consolidated statements of financial position .................... 87 Consolidated statements of cash flows .............................. 88 Consolidated statements of changes in equity ................... 89 Notes to consolidated financial statements ........................ 90 Parent company income statements.................................. 182 Parent company
    [Show full text]
  • Corporate Governance Report 2020.Pdf
    Corporate governance | Report of the Board of Directors Corporate governance ASSA ABLOY AB is a Swedish public limited liability company in that the Vice Chairman of the Board of Directors, Carl with registered office in Stockholm, Sweden, whose Series B Douglas (Investment AB Latour), is also the Chairman of the share is listed on Nasdaq Stockholm. Nomination Committee. The reason for this deviation is that ASSA ABLOY’s corporate governance is based on the the major shareholders consider it to be important to have Swedish Companies Act, the Annual Accounts Act, Nas- the representative from the largest shareholder as Chairman daq Stockholm’s Rule Book for Issuers and the Swedish of the Nomination Committee. Corporate Governance Code (the Code), as well as other The Corporate Governance Report is examined by ASSA applicable external laws, rules and regulations, and internal ABLOY’s auditor. rules and regulations. ASSA ABLOY’s objective is that its operations should gen- This Corporate Governance Report has been prepared erate good long-term returns for its shareholders and other as part of ASSA ABLOY’s application of the Code. ASSA stakeholders. An effective scheme of corporate governance ABLOY follows the Code’s principle to “comply or explain” for ASSA ABLOY can be summarized in a number of interact- and in 2020 ASSA ABLOY has one deviation to explain. The ing components, which are described below. Nomination Committee deviates from Rule 2.4 of the Code Corporate governance structure 1 Shareholders 3 Nomination Committee 2 General Meeting
    [Show full text]
  • Ericsson Annual Report 2020
    Ericsson Annual Report 2020 ericsson.com Contents Financial CEO comment 2 Corporate Corporate Governance report 1 report Governance Auditor’s report on the Corporate 27 Business in 2020 4 report Governance report Letter from the Chair of the Board 9 Consolidated financial statements 26 and notes Parent Company financial statements 78 and notes Risk factors 97 Auditor’s report 109 Five-year summaries 113 Alternative performance measures 115 The Ericsson share 120 Remuneration Statement from the Chair of the 1 Sustainability Sustainability approach 2 report Remuneration Committee and Corporate Sustainability management 4 Responsibility Introduction 2 report Stakeholder engagement 6 Remuneration 2020 at a glance 3 Significant topics 2020 7 Total remuneration to the President 5 and CEO and Executive Vice Presidents Responsible business 8 Variable remuneration 6 Environmental sustainability 20 Comparative information on the 11 Digital inclusion 26 change of remuneration and Company Consolidated sustainability notes 28 performance Global Reporting Initiative Index 32 Forward looking statements 36 Ericsson Annual Report 2020 Our legal annual report consists of four parts published as one pdf, which can also be downloaded separately: – The Financial report, including CEO comment, business strategy, the annual accounts and consolidated accounts of the Company – The Corporate Governance report – The Remuneration report – The Sustainability and Corporate Responsibility report, including the GRI index The Company’s annual accounts and consolidated accounts are included on pages 10–108 in the Financial report and are reported on by Deloitte in the auditor’s report. The Corporate Governance report, the Remuneration report and the Sustainability and Corporate Responsibility report have also been subject to assurance procedures by Deloitte.
    [Show full text]