DOCSLIB.ORG

20170310 Annual Report Incl. Sustainability Report and Corporate Governance Report 2016

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read 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. In addition to the factors explicitly discussed, other factors could have a material effect on the actual Signatures of the Board of Directors 124 outcomes. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political Audit report 125 developments, the impact of competing products and their pricing, Financial definitions 128 product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses. Sustainability notes (Group) 129 Atlas Copco AB and its subsidiaries are sometimes referred to as the Auditor’s Limited Assurance Report on Atlas Copco Group, the Group, or Atlas Copco. Atlas Copco AB is also Atlas Copco AB’s Sustainability Report 136 sometimes referred to as Atlas Copco. Any mention of the Board of Directors or the Board refers to the Board of Directors of Atlas Copco AB. Five years in summary 137 MARKED WITH BLUE CONTACTS The audited annual accounts and consolidated accounts can be Investor Relations found on pages 14–48 and 56–124. The corporate governance Daniel Althoff, Investor Relations Manager report examined by the auditors can be found on pages 56–65. [email protected] Media MARKED WITH GREEN Ola Kinnander, Media Relations Manager Sustainability information that has been reviewed by the [email protected] auditors can be found on pages 10–13, 42–53 and 129–135. Sustainability Sofia Svingby, Vice President Corporate Responsibility [email protected] Production: Atlas Copco AB, Griller Grafisk Form AB, Text Helene AB Copyright 2017, Atlas Copco AB, Stockholm, Sweden Print: Hylte Tryck. Prepress: Bildrepro 9853 8376 01 (3 500) A decentralized group with four business areas in 2016, and five in 2017 In the third quarter 2016, the Atlas Copco Group announced a fifth business area. The new business area Vacuum Technique, was operational from January 1, 2017. The vacuum business was part of the Compressor Technique business area in 2016. Below, the Group presents the four business areas that were operational in 2016 and with restated figures for Compressor Technique and Vacuum Technique, the five business areas that are operational in 2017. COMPRESSOR TECHNIQUE COMPRESSOR TECHNIQUE VACUUM TECHNIQUE Operational through 2016 Operational from January 1, 2017 Operational from January 1, 2017 READ MORE ON PAGE 20 (Restated figures) READ MORE ON PAGE 25 READ MORE ON PAGE 24 Revenues 2016: Revenues 2016: Revenues 2016: MSEK 49 991 MSEK 36 356 MSEK 13 635 The Compressor Technique business area The Compressor Technique business area The Vacuum Technique business area provides provides industrial compressors, vacuum provides compressed air solutions; industrial vacuum products, exhaust management systems, solutions, gas and process compressors and compressors, gas and process compressors valves and related products mainly under the expanders, air and gas treatment equipment and expanders, air and gas treatment equipment Edwards, Leybold and Atlas Copco brands. and air management systems. The business and air management systems. The business The main markets served are semiconductor and area has a global service network and innovates area has a global service network and innovates scientific as well as a wide range of industrial for sustainable productivity in the manufacturing, for sustainable productivity in the manufacturing, segments including chemical process industries, oil and gas, and process industries. Principal oil and gas, and process industries. Principal food packaging and paper handling. The business product development and manufacturing units product development and manufacturing units area has a global service network and innovates for are located in Belgium, the United States, China, are located in Belgium, the United States, sustainable productivity in order to further improve South Korea, Germany, Italy and the United China, India, Germany and Italy. its customers’ performance. Principal product Kingdom. development and manufacturing units are located in the United Kingdom, Czech Republic, Germany, South Korea, China and Japan. ORDERS RECEIVED, REVENUES ORDERS RECEIVED, REVENUES ORDERS RECEIVED, REVENUES AND OPERATING MARGIN AND OPERATING MARGIN AND OPERATING MARGIN MSEK % MSEK % MSEK % 50 000 25 50 000 25 15 000 25 40 000 20 40 000 20 12 000 20 30 000 15 30 000 15 9 000 15 20 000 10 20 000 10 6 000 10 10 000 5 10 000 5 3 000 5 0 0 0 0 0 0 2013 2014 2015 2016 2013 2014 2015 2016 2014 2015 2016 REVENUES BY REGION REVENUES BY REGION REVENUES BY REGION Asia/ North Asia/ North Asia/ North Australia, 38% America, 22% Australia, 30% America, 22% Australia, 58% America, 22% Africa/ Africa/ South Middle East, 7% Middle East, 8% America, 1% Africa/ South South Middle East, 5% Europe, 14% Europe, 29% America, 4% Europe, 35% America, 5% SHARE OF REVENUES SHARE OF REVENUES SHARE OF REVENUES Service, 37%Equipment, 63% Service, 43% Equipment, 57% Service, 22% Equipment, 78% ORDERS RECEIVED BY ORDERS RECEIVED BY ORDERS RECEIVED BY CUSTOMER CATEGORY CUSTOMER CATEGORY CUSTOMER CATEGORY Other, 9% Manufacturing, 47% Other, 12%Manufacturing, 37% Other, 1% Manufacturing, 77% Service, 8% Service, 10% Construction, Construction, 9% 11% Process Mining, 2% Process industry, 25% Mining, 3% Process industry, 27% industry, 22% A decentralized group with four business areas in 2016, and five in 2017 In the third quarter 2016, the Atlas Copco Group announced a fifth business area. The new business area Vacuum Technique, was operational from Orders received, MSEK January 1, 2017. The vacuum business was part of the Compressor Technique business area in 2016. Below, the Group presents the four business areas that Revenues, MSEK were operational in 2016 and with restated figures for Compressor Technique and Vacuum Technique, the five business areas that are operational in 2017. Operating margin, % INDUSTRIAL MINING AND ROCK CONSTRUCTION MSEK % TECHNIQUE EXCAVATION TECHNIQUE TECHNIQUE 125 000 25 READ MORE ON PAGE 26 READ MORE ON PAGE 30 READ MORE ON PAGE 34 100 000 20 75 000 15 50 000 10 Revenues 2016: Revenues 2016: Revenues 2016: 5 MSEK 15 017 MSEK 25 043 MSEK 11 794 25 000 0 0 2012 2013 2014 2015 2016 The Industrial Technique business area provides The Mining and Rock Excavation Technique busi- The Construction Technique business area pro- industrial power tools and systems, industrial ness area provides equipment for drilling and rock vides construction and demolition tools, portable assembly solutions, quality assurance products, excavation, a complete range of related consum- compressors, pumps and generators, and lighting software and service through a global network. ables and service through a global network. The towers. The business area offers specialty rental The business area innovates for sustainable business area innovates for sustainable productivity and provides service through a global network. productivity for customers in the automotive in surface and underground mining, infrastructure, Construction Technique innovates for sustainable and general industries, maintenance and vehicle civil works, well drilling and geotechnical applica- productivity in infrastructure, civil works, oil service. Principal product development and tions. Principal product development and manu- and gas, energy and drilling. Principal product manufacturing units are located in Sweden, facturing units are located in Sweden, the United development and manu facturing units are located Germany, the United States, United Kingdom, States, Canada, China and India. in Belgium, Spain, Sweden, the United States, France and Japan. China, and India. ORDERS RECEIVED, REVENUES ORDERS RECEIVED, REVENUES ORDERS RECEIVED, REVENUES AND OPERATING MARGIN
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]
  • 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]
  • Press Release
    Press Release October 7, 2016 08:30 am CET Skanska sells office property in Karlstad, Sweden, to Vacse for about SEK 250M Skanska has sold an office property in Karlstad, Sweden, for about SEK 250 million. The buyer is Vacse AB, which is owned by seven pension funds tied to Apoteket, Atlas Copco, Ericsson, Sandvik, Skanska, Stora Enso and Volvo. The transaction will be booked by Skanska Commercial Property Development in the third quarter 2016. The transfer of the property to the buyer will take place in the second quarter 2018. Skanska Commercial Property Development investment amounts to SEK 220M and the construction is carried out by Skanska Sweden. The project includes an office building on five floors of about 8,500 square meters with garage of about 3,250 square meters, and recreation areas on the water. The office, which is leased to the Swedish Civil Contingencies Agency, is located in the developing district of Tullholmsviken near the center of Karlstad. The office building is designed and planned with a focus on the agency's employees and will be certified LEED Gold. Construction will begin in October this year and the office building will be completed during the second quarter 2018. Skanska is one of the largest project development and construction companies in Sweden, with operations in building and civil engineering as well as in residential and commercial development. The unit has about 10 000 employees. Revenues from construction amounted to SEK 27 billion in Sweden in 2015. Residential development sold about 2,200 new homes. Skanska also offers services in public-private partnerships.
    [Show full text]
  • Atlas Copco Atlas Share Increased to Atlas Copco’S Revenues Grew 10% to Atlas Copco’S MSEK
    ATCO Omslag Engelsk 02-03-21 17.26 Sida 1 Print: Tryckindustri Information. Copyright 2002, Atlas Copco AB, Stockholm, Sweden. Print: Tryckindustri Affärer/Sune Fridell (page Production: Atlas Copco AB and Intellecta Corporate AB. Photo: Q-image (page 15–21, 53–55), Veckans Atlas Copco Annual Report 2001 Addresses 01 Atlas Copco Group Center Atlas Copco Construction Atlas Copco Industrial Technique Atlas Copco AB (publ.) and Mining Technique SE-105 23 Stockholm, Sweden SE-105 23 Stockholm, Sweden SE-105 23 Stockholm, Sweden Phone: +46-8-743 8000 Phone: +46-8-743 8000 Phone: +46-8-743 8000 Fax: +46-8-644 9045 Fax: +46-8-644 9045 Fax: +46-8-644 9045 www.atlascopco-group.com Milwaukee Electric Tool Corp. id. no. 556014-2720 Atlas Copco 13135 West Lisbon Road Rock Drilling Equipment Brookfield, WI 53005, USA SE-701 91 Örebro, Sweden Phone: +1-262-781 3600 Atlas Copco Phone: +46-19-670 7000 Fax: +1-262-781 3117 Copco Atlas Compressor Technique Fax: +46-19-670 7070 P O Box 100 Atlas Copco Electric Tools BE-2610 Wilrijk, Belgium Atlas Copco Craelius Postfach 320 Annual Report 2001 Phone: +32-3-870 2111 SE-195 82 Märsta, Sweden D-71361 Winnenden, Germany Fax: +32-3-870 2443 Phone: +46-8-587 785 00 Phone: +49-7195-120 Fax: +46-8-591 187 82 Fax: +49-7195-126 66 Atlas Copco Airtec P O Box 101 Atlas Copco Secoroc Atlas Copco BE-2610 Wilrijk, Belgium Box 521 Tools and Assembly Systems Phone: +32-3-870 2111 SE-737 25 Fagersta, Sweden SE-105 23 Stockholm, Sweden Fax: +32-3-870 2443 Phone: +46-223-461 00 Phone: +46-8-743 9500 Fax: +46-223-461 01 Fax: +46-8-640 0546 Atlas Copco Portable Air P O Box 102 Atlas Copco Chicago Pneumatic BE-2610 Wilrijk, Belgium Construction Tools 1800 Overview Drive Phone: +32-3-450 6011 SE-105 23 Stockholm, Sweden Rock Hill, SC 29730, USA Fax: +32-3-870 2443 Phone: +46-8-743 9600 Phone: +1-803-817 7000 Fax: +46-8-743 9650 Fax: +1-803-817 7006 Atlas Copco Industrial Air P O Box 103 Atlas Copco Wagner BE-2610 Wilrijk, Belgium P O Box 20307 Atlas Copco Rental Service Phone: +32-3-870 2111 Portland, OR 97294-0307, USA 6929 E.
    [Show full text]
  • Base Prospectus
    BASE PROSPECTUS ATLAS COPCO AB (incorporated with limited liability in the Kingdom of Sweden) ATLAS COPCO FINANCE DAC (incorporated with limited liability in Ireland) U.S.$3,000,000,000 Euro Medium Term Note Programme unconditionally and irrevocably guaranteed in the case of Notes issued by Atlas Copco Finance DAC by ATLAS COPCO AB (incorporated with limited liability in the Kingdom of Sweden) Under this U.S.$3,000,000,000 Euro Medium Term Note Programme (the “Programme”), Atlas Copco AB (“Atlas Copco”) and Atlas Copco Finance DAC (“Atlas Copco Finance” and, together with Atlas Copco, the “Issuers” and each an “Issuer”) may from time to time issue notes (the “Notes”) denominated in any currency agreed between the relevant Issuer and the relevant Dealers (as defined below). References in this Base Prospectus to the “relevant Issuer” shall, in relation to any issue or proposed issue of Notes, be references to whichever of Atlas Copco or Atlas Copco Finance is specified as the Issuer of such Notes in the relevant final terms document specific to such Tranche (the “Final Terms”). The payments of all amounts due in respect of the Notes issued by Atlas Copco Finance (the “Guaranteed Notes”) will be unconditionally and irrevocably guaranteed by Atlas Copco (in such capacity, the “Guarantor”) under the terms of a Deed of Guarantee dated 18 July 2019 (as amended and/or supplemented and/or restated from time to time, the “Deed of Guarantee”). If the relevant Issuer is Atlas Copco, references herein to Guarantor and Guarantee, and related expressions, are not applicable. Notes may only be issued under the Programme that have a denomination of at least EUR 100,000 (or its equivalent in any other currency).
    [Show full text]
  • Atlas Copco 140 Years of Achievements by One of the World’S Most Innovative and Sustainable Companies
    Atlas Copco 140 years of achievements by one of the world’s most innovative and sustainable companies 11 Atlas Copco 140 years of achievements by one of the world’s most innovative and sustainable companies 1 2 THERE IS ALWAYS A BETTER WAY Atlas Copco owes its successful history to the skilled and committed employees who since 1873 have found innovative solutions to our customers’ challenges and increased the pro- ductivity of their businesses. where would we be if we didn’t have people all over the world, year after year providing customers with the best support? When our company was founded it made products for railways, but the core of Atlas copco’s business dates back to the early years of the 20th century, when the fi rst compres- sors, tools and rock drills were manufactured. Today, Atlas Copco has world-leading positions in these product areas and many others. Much has of course changed in 140 years. We have grown from a Swedish company into a multinational group that supports customers in around 180 countries with own operations in 90. However, throughout this period our spirit and our values have remained intact. Atlas Cop- co is about innovation, sustainability and ethics. It is about our ability to develop new products and services to fulfi ll or exceed our customers’ needs. It is about enjoying what we do. As the world changes, so must we. Megatrends in demographics, living standards and urbanization all put new demands on our capacity to innovate. In cooperation with customers and business partners we must develop new products that meet higher requirements for the usage of natural resources as well as regarding safety, ergonomics and productivity.
    [Show full text]
  • Atlas Copco 2007 – a Very Good Year
    Atlas Copco 2007 – a very good year Annual Report Sustainability Report Corporate Governance Report 07 Revenues and Contents operating margin Earnings per share MSEK % SEK 80 000 40 8 Annual Report 70 000 35 7 Group Overview 2 60 000 30 6 President and CEO 4 50 000 25 5 Atlas Copco in Brief 8 40 000 20 4 30 000 15 3 Atlas Copco Group Administration Report 20 000 10 2 Board of Directors’ Report 12 10 000 5 1 Compressor Technique 24 0 0 0 031) 041) 05 06 07 031) 041) 05 06 07 Construction and Mining Technique 28 Revenues, MSEK Industrial Technique 32 Operating margin, % 1) Including discontinued operations Financial Statements Atlas Copco Group Consolidated Income Statement 36 Consolidated Balance Sheet 37 Consolidated Statement of Changes in Equity 38 Consolidated Statement of Cash Flows 39 Notes to the Atlas Copco Group Financial Statements 40 Financial Statements Parent Company Financial Statements of the Parent Company 77 Notes to the Parent Company Financial Statements 79 Atlas Copco 2007 Appropriation of Profit 91 Audit Report 92 Financial definitions 93 Note: The amounts are presented in MSEK unless otherwise Sustainability Report indicated and numbers in parentheses represent comparative figures for the preceding year. Important Events During the Year 94 Society and the Environment 98 Forward-looking statements: Some statements in this report are forward-looking, and the actual outcomes could be materi- Customers 104 ally different. In addition to the factors explicitly discussed, other Employees 107 factors could have a material effect on the actual outcomes. Such factors include, but are not limited to, general business Business Partners 110 conditions, fluctuations in exchange rates and interest rates, Shareholders 111 political developments, the impact of competing products and their pricing, product development, commercialization and Sustainability Performance Summary 112 technological difficulties, interruptions in supply, and major Definitions 113 customer credit losses.
    [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 27,638 shareholders share is listed on the Nasdaq Stockholm. 1 (22,232). The principal shareholders are Invest- The Group’s corporate governance is based on the ment AB Latour (9.5 percent of the share capital and 29.5 Swedish Companies Act, the Annual Accounts Act, the percent of the votes) and Melker Schörling AB (3.9 percent Nasdaq Stockholm Rule Book for Issuers and the Swedish of the share capital and 11.4 percent of the votes). Foreign Code of Corporate Governance, as well as other applicable shareholders accounted for around 64 percent (64) of the external laws, regulations and recommendations, and inter- share capital and around 44 percent (44) of the votes. The nal rules and regulations. ten largest shareholders accounted for around 40 percent This Corporate Governance Report has been prepared as (38) of the share capital and 59 percent (58) of the votes. part of ASSA ABLOY’s application of the Swedish Code of For further information on shareholders, see page 105. Corporate Governance. The report is audited by ASSA A shareholders’ agreement exists between Gustaf ABLOY’s auditor. Douglas, Melker Schörling and related companies and ASSA ABLOY’s objective is that its activities should gener- includes an agreement on right of first refusal if any party ate good long-term returns for its shareholders and other disposes of Series A shares.
    [Show full text]
  • Atlas Copco 2008 – Tough Ending to a Record Year Annual Report
    Atlas Copco 2008 – tough ending to a record year Annual Report Sustainability Report Corporate Governance Report 08 WorldReginfo - d0ea247e-c6b1-4865-845d-219d31474890 Contents Revenues and operating margin Earnings per share MSEK % SEK 80 000 40 16 Annual Report 70 000 35 14 Group Overview 2 60 000 30 12 President and CEO 4 50 000 25 10 Atlas Copco in Brief 8 40 000 20 8 30 000 15 6 Atlas Copco Group Administration Report 20 000 10 4 Board of Directors’ Report on 2008 Operations 12 10 000 5 2 Compressor Technique 24 0 0 0 041) 05 06 07 08 041) 051) 061) 071) 081) Construction and Mining Technique 28 Revenues, MSEK Industrial Technique 32 Operating margin, % 1) Including discontinued operations. Financial Statements Atlas Copco Group Consolidated Income Statement 36 Consolidated Balance Sheet 37 Consolidated Statement of Changes in Equity 38 Consolidated Statement of Cash Flows 39 Notes to the Consolidated Financial Statements 40 Financial Statements Parent Company Financial Statements of the Parent Company 79 Notes to the Parent Company Financial Statements 81 Atlas Copco 2008 Appropriation of Profit 95 Audit Report 96 Financial Definitions 97 Sustainability Report Note: The amounts are presented in MSEK unless otherwise Corporate Responsibility 99 indicated and numbers in parentheses represent comparative figures for the preceding year. Society and the Environment 102 Customers 107 Forward-looking statements: Some statements in this report are forward-looking, and the actual outcomes could be materi- Employees 109 ally different. In addition to the factors explicitly discussed, other Business Partners 112 factors could have a material effect on the actual outcomes.
    [Show 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 ....................................................
    [Show full text]