DOCSLIB.ORG

Investor Presentation

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Investor Presentation Investor Presentation Investor Relations April 26, 2019 A strong and integrated value chain Sales 1) (SEKbn) EBITDA 1) (SEKbn) 18.8 5.3 EBITDA margin 1) Industrial ROCE 2) Forest Renewable Wood energy 28% 16% Forestland Net growth Pulp Paper 2.6m ha 3.0m m3fo Note: 1) 2018. 2) ROCE for the industrial segments; Wood, Pulp and Paper. 2 Europe’s largest private forest owner Sawmill Forestland Pulp mill Kraftliner mill 6% Publication Paper mill 2.6m ha of Sweden Pellet production SCA’s forest Productive forestland Munksund 2.0m ha Obbola Rundvik Stugun Bollstabruk Standing volume Gällö Härnösand Östrand Tunadal 235m m3fo Ortviken 3 We use the Electricity Wind turbines entire tree Heat Bioenergy Logging residue & wood fuel Pellets Tall oil, Liquid biofuels black liquor & bark Pulp & paper mills Pulp Pulpwood Paper Wood-chips Bark & sawdust Sawmills Solid-wood products Sawlogs 4 Integrated value chain drives profitability EBITDA margin 30% 30% 25% 25% 20% 20% 15% 15% 10% 10% 5% 5% 0% 0% 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Nordic peer 1 Nordic peer 2 Nordic peer 3 Nordic peer 4 Nordic peer 5 SCA 5 We deliver sustainable development Fossil-free world Valuable forests Efficient Responsibility for people use of resources and the community Profitable growth Values 2 SCA’s forests bind CO and Replaces 2 Higher growth enables more substitution – 5 renewable alternatives replace fossil Mt CO replace fossil based products 2 based products SCA’s renewable Non-renewable 1 products products Binds net Growing forests bind CO2 – 4 active forest management Bioenergy Fossil increases growth Mt CO2 fuels Fertilization Operations Paper Plastic Contorta pine 3 Solid-wood Investments and products Concrete innovation reduce Active silviculture carbon emissions Low Emissions 0.9 Improved SCA’s climate benefits amount to seedlings Mt CO2 8 million tonnes of CO2 per annum, which is more than the total emissions from all the truck traffic and domestic air travel in Sweden* * Source: Swedish Environmental Protection Agency 7 Global trends favoring fiber based renewable materials Growing Growing Eco-awareness population and demand for middle class virgin fiber Increased demand for E-commerce renewable materials 8 Profitable growth strategy 1 Forest – the source of value creation Increased 2 Wood – moving forward in the value chain value from each tree 3 Pulp – doubled capacity Growing 4 forest asset Paper – potential kraftliner expansion 5 Renewable energy – the next value creator 9 Cash flow funded growth opportunities Value Biorefinery optionality Östrand – further capacity increase ROCE Kraftliner expansion 20192021/22 Research and Biofuel production development from CTO Leverage 2020 Opportunity to Pilot plant further increase 5.0 TWh wind capacity at power on SCA land Östrand 20182019 Pre-project to Credit rating Increase share evaluate an of WT Kraftliner expansion at 20152018 Obbola Joint venture with Östrand St1 signed expansion 100 000 m3 Integrated Wind power on SCA biofuels value chain land is expected to increase to 6.7 TWh in 2021 Decided or completed projects SEK 200m investment +50kt WT Kraftliner Potential projects from summer 2019 SEK 8bn investment Production started in June 2018 Time 10 Forest – the source of value creation Europe’s largest private forest owner Sales (SEKm) Forest holdings located close to SCA’s industry Sawmill Pulp mill 6% • 2.6m ha forestland Kraftliner mill of Sweden 5,455 Publication Paper Pellet production • 2.0m ha productive forestland SCA’s forest EBITDA (SEKm) • 235m m3fo standing volume Munksund 50% of wood raw material needs are provided 1,394 for by wood from SCA’s own forest Obbola Rundvik Young forest yields high growth Stugun Bollstabruk EBITDA margin Gällö Härnösand • 9.5m m3fo gross growth Östrand Tunadal 26% • 5.2m m3fo annual harvesting (4.3m m3sub) Ortviken Financials refer to 2018. 12 The forest is our source of value creation Growth Harvesting Land value 13 Profitable growth since 1950 1) Standing volume Growing Harvest plan IncreasingIncreasing Land value Increasing million m3fo asset base million m3sub cashcash flow flow SEK/m3fo (real value) land value +60% +120% +265% 235 4.3 407 146 2.0 >6,000% nominal increase 111 1950 2018 1950 2018 1950 2018 Note: 1) Average price Sweden, real price (2018 price level). Source Lantmäteriet. 14 Significant real growth of 3.5% Forest growth metrics (m m3fo) Gross growth of standing forest 9.5 Natural losses and pre-commercial thinning -1.3 Real growth rate of 3.5% (in relation to the standing Available growth of standing forest 8.2 volume of 235m m3fo) (1) Current cash flow Annual harvesting -5.2 New harvesting plan every 8-10 years Harvesting increase to >7m m3fo in 2114 Annual net increase of standing forest 3.0 Future cash flow Note: 1) Corresponding to approximately 4.3m m3sub. 15 Improved practices increase growth Growth plan at different taxations (standing volume / hectare) m3fo/ha 1 130 2018 Silviculture 235m m3fo 2.0m ha 120 Tax IX vs 2014 Tax VI 2 110 +14 m3fo/ha Fertilization 100 Tax VI vs 1984 Tax II 3 90 3 Improved seedlings +7 m fo/ha 80 4 70 Introduction of lodgepole pine 60 1954 1959 1964 1969 1974 1979 1984 1989 1994 1999 2004 2009 2014 2019 2024 Tax II (1953-54) Tax VI (1983-84) Tax IX (2012-13) Source: SCA measurements and estimates. 16 Note: Taxation = forest inventorisation. Lodgepole pine = Pinus contorta. Market valuation of forest assets Value of forest land (2018, SEK/m3fo) Factors driving market valuation • Growth and harvesting 286 • Improved seedlings 268 269 • Silviculture and fertilization • Technical development • Climate change 136 • Land value not included in IAS 41 Book value SCA SCA LRF northern purchases divestments Sweden 17 Limited supply of wood raw material Estimated change in harvesting potential 2016-2025 (softwood sawlogs) Demand of wood products growing faster than supply CAGR 2017-2025e ~2.0% • Insect damage in Canada +15m m3 • Harvesting restrictions in China -16m m3 +1m m3 • Limited potential for new softwood +15m m3 plantations in South America +7m m3 +17m m3 • Limited forest infrastructure in Russia ~0.5% +1m m3 +2m m3 Global harvest ‘17 Harvesting potential Demand growth ~725m m3 softwood sawlogs softwood sawn timber Source: Timwood. 18 Forest – strategic direction 1 Maximize growth and long-term harvesting potential 2 Preserve the forest’s biodiversity and contribute to a positive impact on the climate 3 Increase the forest holding 19 Wood – moving forward in the value chain Leading European wood producer Sales (SEKm) 5 modern and well invested sawmills 2.2m m3 6,618 2 painting and 8 planing facilities capacity Own distribution network EBITDA (SEKm) 420k Focus on value added products Munksund 904 • Wood industry – customers are mainly manufacturers of furniture, doors, windows, flooring and roofs 330k 560k Rundvik • Building materials trade – customers mainly include 330k Bollstabruk EBITDA margin building materials chains in Scandinavia, the UK and Gällö France Tunadal 540k 14% 3 Capacity (m /year) Financials refer to 2018. 21 Attractive market outlook for wood products Strong global softwood demand m m3 450 ~2% 3.1% CAGR 400 CAGR Good level of building activity in the US Other 350 Softwood import increasing in China 300 Asia 250 Increased R&R in Europe and the US 200 Europe Strong European construction market 150 (incl. RU) 100 North 50 America 0 2012 2018 2025e Source: Timwood, Skogsindustrierna, UNECE. 22 One of the largest and most efficient sawmill operations in Europe From 11 to 5 highly automated and efficient sawmills 2007 2018 SEK ~2.5 bn invested 2.2m m3 2009-2018 1.8m m3 Boden Vilhelmina 11 5 Munksund Munksund sawmills sawmills Jämtlamell Holmsund Rundvik Rundvik Gällö Gällö Bollsta Bollsta Graninge Tunadal Tunadal 2007 2018 Tjärnvik Average capacity/ 160k 430k mill: (m3/year) 23 Long-term profitable growth with focus on value added products Wood sales (SEKbn) +9 % p.a. Profitable growth 6.6 Higher and more stable margins over a business 4.5 cycle Customized products 1.1 based on customer insights 1998 2008 2018 Wholesalers Wood Industry Building Materials Trade 24 Product innovation Pine heartwood decking Outdoor cladding with concealed fitting 25 Wood – strategic direction 1 Strengthen SCA’s integrated value chain – sawlogs give the largest revenue from a tree 2 Continued profitable growth through: • Value-added and customized products • Volume growth in sawmill capacity − Opportunity to increase volumes at Bollsta sawmill 3 Production optimization to achieve the highest level of efficiency 26 Pulp – doubled capacity High quality NBSK pulp producer Sales (SEKm) High quality bleached softwood kraft pulp (NBSK) • Focus on high strength properties 1.0Mt 2,866 capacity • Capacity: 900 kt/year (2020) • The pulp is used in tissue, packaging, publication paper EBITDA (SEKm) and filters Chemical thermomechanical pulp (CTMP) 709 • Capacity: 100 kt/year • The pulp is used in packaging and hygiene products EBITDA margin Net producer of green electricity 25% • 1.2 TWh/year (2020) Östrand Financials refer to 2018. 28 Increasing pulp demand driven by a growing tissue market Limited softwood pulp supply growth Tissue demand driving growth Global pulp market (demand Mt) Softwood pulp capacity (Mt) Index (global market) Limited new CAGR capacity Östrand, ~3% 0.1 Äänekoski 180 5 28 28 2 28 Tissue consumption 160 25 26 24 Total: 66 140 120 34 100 Bleached Softwood Kraft Bleached Hardwood Kraft Sulfite Unbleached Kraft 80 Mechanical pulp 2008 2013 2018 2020e 2023e
Load more

Recommended publications
  • Sca Annual Report 2019 2019 Introduction
    SCA ANNUAL REPORT 2019 SCA ANNUAL REPORT 2019 INTRODUCTION Europe’s largest private forest owner SCA is Europe’s largest private forest owner with 2.6 million hectares of forest in Northern Sweden and 30,000 hectares in Estonia and Latvia. Based on this unique resource, SCA has developed an industry that generates the greatest possible value in and from the forest. 2.6 million hectares of forest land Pulp mill SCA ANNUAL REPORT 2019 SCA ANNUAL REPORT Sawmills Publication paper mills Kraftliner mills SCA’s forest holdings Estonia Latvia 2 Cover: SCA’s large forest holding is a unique asset that forms the basis for the company’s value chain. This is SCA Contents Introduction 3 This is SCA 4 The year at a glance Forest 6 President's message SCA owns a total of 2.6 million 8 Value chain hectares of forest in Northern 10 The green cycle Sweden, an area nearly the size of Belgium, and 30,000 hectares in 12 Forest and climate Estonia and Latvia. SCA’s unique 14 Vibrant local communities forest asset is a growing resource 16 Trends that provides access to high- quality forest raw materials while capturing a net of more than 10% Strategy and operations 18 Strategy of Sweden’s fossil CO2 emissions. 22 Forest Wood 28 Wood SCA is one of Europe’s leading 32 Pulp suppliers of wood-based products 36 Paper for the wood industry and building materials trade, with an annual pro- 42 Renewable energy duction capacity of 2.2 million m3 44 Logistics of solid-wood products.
    [Show full text]
  • Annual and Sustainability Report 2018
    Annual and Sustainability Report 2018 We build for a better society. B Skanska Annual and Sustainability Report 2018 Operations Skanska’s operations consist of Construction and Project Development, including Residential Development, Commercial Property Development and, until 2018, Infrastructure Development. Business units within these streams collaborate in various ways, creating operational and financial synergies that generate increased value. Residential Commercial Property Infrastructure Construction Development Development Development 1 Constructs and renovates build- Develops new residential projects, Develops customer-focused office Secures and manages the value ings, infrastructure and homes, including single and multi-family buildings, shopping centers and of Skanska’s existing public- along with facilities manage- housing, built by the Construction logistics properties built by the private partnership (PPP) assets. ment and other related services. business stream. Construction business stream. 1 As of January 1, 2019, Infrastructure Development is no longer a business stream and is reported in Central on a separate line. Well diversified, Percentage of total revenue in 2018 with a leading market position Skanska’s diversification across various business streams with operations in eleven countries and several market segments strengthens the Group’s 40% SwedenSweden competitive standing and ensures FinlandFinland Norway a balanced and diversified risk profile. USA 38% Denmark United Kingdom Poland Czech Republic SlovakiaSlovakia Hungary 22% Romania Green revenue in 2018 Green market value in 2018 Green financing in 2018 Percentage of total Construction revenue Percentage of Commercial Property Percentage of total central debt 3 that is that is Green and Deep green, as defined Development market value from Green Green, according to the Skanska Green by the Skanska Color Palette™ 2.
    [Show full text]
  • Admission to Trading of the Shares in Essity Aktiebolag (Publ) on Nasdaq Stockholm Important Information
    Admission to trading of the shares in Essity Aktiebolag (publ) on Nasdaq Stockholm Important information For certain definitions used in this prospectus, see Certain“ definitions” on the next page. This prospectus has been prepared following a resolution at the 2017 Annual General Meeting of Svenska Cellulosa Aktiebolaget SCA (publ) (“SCA”) to distribute to SCA’s shareholders the shares in Essity Aktiebolag (publ) (“Essity” or the “Company”) and the Board of Directors of Essity’s application for listing of those shares on Nasdaq Stockholm. A Swedish version of this prospectus has been approved and registered by the Swedish Financial Supervisory Authority (the “SFSA”) in accordance with Chapter 2, Sections 25 and 26 of the Swedish Financial Instruments Trading Act (lagen (1991:980) om handel med finansiella instrument). Approval and registration does not imply that the SFSA guarantees that the information in the prospectus is accurate or complete. The prospectus is governed by Swedish law. Disputes arising in connection with this prospectus and related legal matters shall be settled exclusively by Swedish courts. The prospectus has been prepared in both Swedish and English language versions. The English version contains certain sections specifically directed to holders outside of Sweden, which are not included in the Swedish version. In the event of any conflict between the versions, the Swedish version shall prevail. This prospectus has been prepared for the purpose of Essity’s application of admission to trading of the shares in Essity on Nasdaq Stockholm and does not contain any offer to subscribe for, or in any other way acquire shares or other financial instruments in the Company, neither in Sweden nor in any other jurisdiction.
    [Show full text]
  • CREDIT RESEARCH June 4, 2021, 11:31 CET Real Estate | Sweden
    [3,533 CREDIT RESEARCH June 4, 2021, 11:31 CET Real Estate | Sweden Diös No recommendation Heading for the Northern Lights MARKETING COMMUNICATION . A leader in stable and growing cities of northern Sweden . Strengthening credit profile . Handelsbanken has a mandate to issue bonds for Diös Leading market position in a growing, dynamic region Diös Fastigheter AB (Diös) has a market-leading position in 10 larger, growing cities in northern Sweden, as well as in Gävleborg County and Dalarna County. In our view, its property portfolio is well-diversified in terms of regional presence, property types and tenants, of which around 31% are related to government and municipalities, and 8% are residential rental properties. Based on data from Statistics Sweden and the regional municipalities, we expect the markets where Diös is active to continue to show healthy population and economic growth, which should in turn support the local property markets. About the company Strengthening credit profile We expect Diös to continue to strengthen its credit profile, including a sustained Profile: LTV of less than 55%, a lengthening of the debt maturity profile and an increased Diös Fastigheter AB, owns, manages and develops share of unsecured capital markets funding. Thanks to its cash-generative property commercial and residential properties, primarily in the larger cities of northern Sweden. The company was portfolio, we find that Diös’ credit metrics, such as debt-to-EBITDA and interest founded in 2005 and is headquartered in Östersund. coverage, are typically stronger than many of its Swedish real estate peers’. Total assets amounted to SEK 25bn as of March 31, 2021.
    [Show full text]
  • Corporate Governance Report
    Corporate governance report Corporate governance report Good corporate governance ensures that Skanska is managed sustainably, responsibly and efficiently on behalf of all share- holders. The overall goal is to increase value for shareholders, and in doing so meet their expectations for invested capital. The purpose of corporate governance is also to ensure oversight by the Board of Directors (the “Board”) and management. By having a clearly defined governance structure as well as proper rules and processes, the Board can ensure that manage- ment and employees are focused on developing the business and thereby generating value for shareholders. This corporate governance report for 2019 has been reviewed by Skanska’s external auditors in accordance with Chapter 9, Section 31 of the Swedish Companies Act. The report contains information as required by Chapter 6, Section 6 of the Annual Accounts Act. Corporate governance principles Key external governing documents Skanska is one of the world’s leading construction and project development companies, focused on selected home markets in the • Swedish Companies Act Nordic region, Europe and the USA. Supported by global trends • Nasdaq Stockholm Rule Book for Issuers in urbanization and demographics, and by being at the forefront • Swedish Corporate Governance Code of sustainability, Skanska offers competitive solutions for both • Annual Accounts Act simple and the most complex assignments. Driven by the Skanska • Securities Market Act values, Skanska helps create sustainable futures for customers and • International Financial Reporting Standards (IFRS) communities. The parent company of the Group is Skanska AB and other accounting rules (the “Company”), with a registered office in Stockholm, Sweden.
    [Show full text]
  • Case M.8842 - TELE2 / COM HEM HOLDING
    EUROPEAN COMMISSION DG Competition Case M.8842 - TELE2 / COM HEM HOLDING Only the English text is available and authentic. REGULATION (EC) No 139/2004 MERGER PROCEDURE Article 6(1)(b) NON-OPPOSITION Date: 08/10/2018 In electronic form on the EUR-Lex website under document number 32018M8842 EUROPEAN COMMISSION Brussels, 8.10.2018 C(2018) 6690 final In the published version of this decision, some information has been omitted pursuant to Article 17(2) of Council PUBLIC VERSION Regulation (EC) No 139/2004 concerning non-disclosure of business secrets and other confidential information. The omissions are shown thus […]. Where possible the information omitted has been replaced by ranges of figures To the notifying party or a general description. Subject: Case M.8842 – Tele2 / Com Hem Holdings Commission decision pursuant to Article 6(1)(b) of Council Regulation No 139/20041 and Article 57 of the Agreement on the European Economic Area2 Dear Sir or Madam, (1) On 3 September 2018, the European Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/20043 by which Tele2 AB (Sweden) ("Tele2" or the “Notifying Party"), controlled by Kinnevik AB (“Kinnevik”), intends to acquire sole control of Com Hem Holding AB (Sweden) ("Com Hem") by way of a statutory merger (the "Transaction")4. Tele2 and Com Hem are collectively referred to as the "Parties". 1. THE PARTIES AND THE TRANSACTION (2) Tele2 is a Swedish telecommunications provider mainly offering mobile telecommunications services (voice and data), and to a lesser extent fixed telephony services, fixed internet access services, as well as data communication services and related services, in several European countries.
    [Show full text]
  • Teliasonera – Annual and Sustainability Report 2015
    WHAT WE DID IN 2015 ANNUAL + SUSTAINABILITY REPORT 2015 Our Company Contents Annual and Sustainability Report 2015 THE YEAR IN BRIEF WHAT WE DID 6 VALUE CREATION HOW WE CREATE VALUE 10 WHERE WE OPERATE OUR MARKETS AND BRANDS 12 OUR STRATEGY WHAT WE PRIORITIZE 18 2 Our Company Annual and Sustainability Report 2015 Contents The audited annual The corporate gov- The sustain- CONTENTS and consolidated ernance statement ability information accounts comprise examined by the reviewed by the pages 20–46, auditors comprises auditors com- 96–199 and 208. pages 47–67. prises pages 8–11, 16–17, 68–95 and 200–207. OUR COMPANY FINANCIAL STATEMENTS TeliaSonera in brief ................................................................. 4 Consolidated statements of comprehensive income .......... 96 The year in brief ..................................................................... 6 Consolidated statements of financial positions .................. 97 Comments by the CEO ......................................................... 8 Consolidated statements of cash flows .............................. 98 How we create value ........................................................... 10 Consolidated statements of changes in equity ................... 99 Where we operate ................................................................ 12 Notes to consolidated financial statements ...................... 100 Our market position .............................................................. 14 Parent company income statements ................................
    [Show full text]
  • Teliasonera Annual + Sustainability Report 2014
    2014 Annual + Sustainability Report Directors’ Corporate Sustainability Financial Other Introduction Report Governance Work Statements GRI Index Information Contents Annual and Sustainability Report 2014 Contents Block Chapter Page Introduction TeliaSonera in brief 3 The year in brief 4 Comments by the CEO 5 Our organization 7 Purpose and values 8 Markets and brands 9 Role in society 12 Directors’ Report Board of Directors’ Report 14 Risks and uncertainties 37 Corporate Governance Corporate Governance Statement 43 Board of Directors 60 Group Executive Management 62 Sustainability Work Sustainability focus area summary 64 United Nations Global Compact principles 65 Sustainability in TeliaSonera 66 Stakeholder engagement 70 Anti-corruption 73 Freedom of expression 76 Customer privacy 79 Occupational health and safety 81 Sustainability in the supply chain 83 Environmental responsibility 86 Other issues 88 Financial Statements Consolidated statements of comprehensive income 89 Consolidated statements of financial position 90 Consolidated statements of cash flows 91 Consolidated statements of changes in equity 92 Notes to consolidated financial statements 93 Parent company income statements 155 Parent company statements of comprehensive income 156 Parent company balance sheets 157 Parent company cash flow statements 158 Parent company statements of changes in shareholders’ equity 159 Notes to parent company financial statements 160 GRI Index GRI Index 181 Other Information Board of Directors' and President's certification 193 Auditors’ Report 194 Auditors’ Limited Assurance Report on the Sustainability Report 196 Ten-year summary – financial data 197 Ten-year summary – operational data 198 Definitions 199 Annual General Meeting 2015 201 Contact TeliaSonera 202 The audited annual and consolidated accounts comprise pages 14–63, 89–180 and 193.
    [Show full text]
  • Annual Report 2008 (PDF)
    Annual Report 2008 TeliaSonera Annual Report 2008 Content This is TeliaSonera 3 The Year in Brief 4 Letter from the CEO 5 The TeliaSonera Share 7 Corporate Strategy 9 Market and Customers 10 A Review of Our Operations 18 Corporate Responsibility 25 Report of the Directors 30 Consolidated Income Statements 42 Consolidated Balance Sheets 43 Consolidated Cash Flow Statements 44 Consolidated Statements of Changes in Equity 45 Notes to Consolidated Financial Statements 46 Parent Company Income Statements 89 Parent Company Balance Sheets 90 Parent Company Cash Flow Statements 91 Parent Company Statements of Changes in Shareholders’ Equity 92 Notes to Parent Company Financial Statements 93 Proposed Appropriation of Earnings 108 Auditors’ Report 109 Ten-year Summary Financial Data 110 Ten-year Summary Operational Data 111 Definitions 113 Corporate Governance Report 115 Board of Directors including Remuneration 119 Leadership Team including Remuneration 121 Glossary 123 Annual General Meeting 2009 124 Contact TeliaSonera 125 TeliaSonera AB (publ), SE-106 63 Stockholm, Sweden Corporate Reg. No. 556103-4249, Registered office: Stockholm, Telephone: +46 (0)8 504 550 00, www.teliasonera.com TeliaSonera Annual Report 2008 – Introduction This is TeliaSonera Mobility Services Broadband Services Eurasia TeliaSonera provides telecommunication services in the Nordic and Baltic countries, the emerging markets of Eurasia, including Russia and Turkey, and in Spain. We offer services that help people and companies communicate in an easy, efficient and environmentally friendly way. Our main purpose is to best serve our customers and create value for our shareholders through providing competitive services as well as generating sustainable and improving profits and cash flows.
    [Show full text]
  • Annual Report 2012 2 Traction Annual Report 2012 Contents
    ANNUAL REPORT 2012 2 TRACTION ANNUAL REPORT 2012 CONTENTS CONTENTS 4 PRESIDENT’S STATEMENT 6 TRACTION IN BRIEF 8 TRACTION’S BUSINESS 1 2 BUSINESS ORGANISATION 13 BOARD OF DIRECTORS 14 OWNERSHIP POLICY 15 LISTED HOLDINGS 20 SUBSIDIARIES 22 UNLISTED HOLDINGS 2 6 TRACTION FROM AN INVESTOR PERSPECTIVE 3 0 TRANSACTIONS OVER THE PAST TEN YEARS 3 4 THE TRACTION SHARE 3 6 TRACTION’S HISTORY 3 9 ADDRESSES SHAREHOLDER INFORMATION 2013 7 May Interim Report for the period January – March 7 May Annual General Meeting 2013 15 August Interim Report for the period January – June 18 October 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 p [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 at traction.se Aktiva noterade innehav 20% Övriga noterade innehav 29% Doerföretag 7% Onoterade innehav 9% Övriga finansiella instrument 10% Likvida medel 25% TRACTION ANNUAL REPORT 2012 3 2012 SUMMARY 2012 SUMMARY • The result after taxes attributable to the Parent Company’s shareholders amounted to MSEK 201 (–41). • The change in value of securities, plus dividend income, was MSEK 149 (–122). • Operating profit in the operative subsidiaries amounted to MSEK 54 (59). • The return on equity was 15 (–3) percent. • Equity per share amounted to SEK 101 (91). • Traction’s net asset value amounted to MSEK 1,719, SEK 112 per share. • Increased ownership in BE Group, Catella and PartnerTech.
    [Show full text]
  • Swedish Match Is a Global Group of Companies with a Broad Assortment of Market-Leading Brands in Smokeless Tobacco Products, Cigars, Pipe Tobacco and Lights Products
    ANNUAL REPORT 2006 Swedish Match is a global Group of companies with a broad assortment of market-leading brands in smokeless tobacco products, cigars, pipe tobacco and lights products. Contents Swedish Match 2006 2 This is Swedish Match Swedish Match is a global Group of companies with CEO’s comments 4 The past year a broad assortment of market-leading brands in 6 The business environment smokeless tobacco products, cigars, pipe tobacco and 8 Our strategies 10 Brand strategy lights products.The Swedish Match share is listed on the Product areas Stockholm Stock Exchange. 14 Snuff and snus 18 Cigars 22 Chewing tobacco 24 Pipe tobacco and Accessories • Sales amounted to 12,911 MSEK (13,311). 26 Lights • Operating profit increased by 15 percent, and 28 Social responsibility and the environment amounted to 3,235 MSEK (2,825). 32 Human Resources • Operating profit excluding larger one time 36 Report of the Board of Directors Consolidated Financial items amounted to 3,087 MSEK (2,618). Statements • Operating margin for the Group grew to 40 Income Statement 41 Balance Sheet 23.9 percent (19.7). 42 Changes in Statement of Equity • EPS (basic) was 8.12 SEK (5.61). 43 Cash Flow Statement 44 Notes for the Group • The Board proposes an increased dividend to Parent Company Financial 2.50 SEK (2.10). Statements 68 Income Statement 69 Balance Sheet 70 Changes in Equity 71 Cash Flow Statement Key data, MSEK 2006 2005 2004 72 Notes for the Parent Company Net sales 12,911 13,311 13,007 78 Proposed distribution of earnings EBITDA excluding larger one time items 3,533 3,206 2,916 79 Auditors’ report Operating profit 3,235 2,825 3,593 Corporate Governance Operating margin, % 23.9 19.7 17.8 80 Corporate Governance report Profit for the year 2,331 1,777 2,084 86 Board of Directors Earnings per share, SEK 8.12 5.61 6.18 88 Group management Dividend per share, SEK 2.50* 2.10 1.90 90 Five-year summary Return on shareholders’ equity, % 63.3 36.6 48.2 92 Quarterly data * Board proposal.
    [Show full text]
  • Item 15 Nomination Committee's Statement And
    Nomination Committee of Skanska AB Statement of work conducted by Nomination Committee Composition of the Nomination Committee In accordance with authorization from the 2013 Annual Shareholders’ Meeting, the Chairman of the Board, Stuart Graham, asked the four largest owners in terms of voting rights to appoint one representative each to serve together with him as the Nomination Committee for the period until the 2014 Annual Shareholders’ Meeting. Information on the names of Nomination Committee members and the shareholders that they represent was published on Skanska’s website in September 2013. The Nomination Committee for the Annual Shareholders’ Meeting 2014 consists of Carl-Olof By, AB Industrivärden, Mats Guldbrand, L E Lundbergföretagen AB, Bo Selling, Alecta, Tomas Hedberg, Swedbank Robur Fonder AB, and Stuart Graham, Board Chairman of Skanska AB. The Chairman of the Nomination Committee has been Carl-Olof By. Proposals to the Nomination Committee On October 10, 2013 information was posted on www.skanska.com concerning how and when at the latest shareholders could submit own proposals to the Nomination Committee. No such proposals have been submitted to the Nomination Committee. Meetings and evaluations The Nomination Committee has held a total of six meetings whereof the first meeting took place on October 11, 2013. At the meeting, the committee formulated plans for its continued work. The Chairman of the Board also made a presentation on work conducted by the Board of Directors and the process that is applied in Skanska AB for annual evaluations of the Board and Board members. At a subsequent meeting of the Nomination Committee, the Chairman of the Board presented the results of the evaluations.
    [Show full text]