The parent company Telia Company AB (Corporate Reg. No. 556103-4249), which is domiciled in Stockholm, comprises group executive management functions including the group’s internal banking operations. The parent company has no foreign branches.
Net sales were SEK 413 million (469), of which SEK 406 million (467) was billed to subsidiaries. Income before taxes increased to SEK 14,689 million (11,479) mainly driven by a positive effect of the reversal of part of the provision made in 2016 related to the settlement amount proposed by the US and Dutch authorities, partly offset by decreased level of dividends and write-downs of subsidiaries. Net income was SEK 14,153 million (10,367). Financial investments increased to SEK 4,110 million (1,498). The investments in 2017 were mainly related to the acquisition of Phonero AS and Nebula Top Oy.
Cash and cash equivalents totaled SEK 14,418 million (12,232) at year-end. Shareholders’ equity was SEK 86,400 million (80,286), of which non-restricted equity SEK 70,687 million (64,573). The equity/assets ratio was 36.9 percent (36.5). The average number of full-time employees was 262 (286).