PARENT COMPANY

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 unchanged at SEK 4 million (4), of which SEK 3 million (3) was billed to subsidiaries. Income before taxes decreased to SEK 11,479 million (12,879) mainly driven by a provision made for a settlement amount proposed by the US and Dutch authorities partly offset by increased dividends received and reversal of untaxed reserves. Net income was SEK 10,367 million (11,685).

Financial investments were SEK 1,498 million (8,013). The investments in 2015 were mainly related to the acquisition of Tele2’s Norwegian mobile operations and shares in Spotify Technology S.A.

Cash and cash equivalents totaled SEK 12,232 million (13,558) at year-end. The balance sheet total was stable at SEK 215,184 million (223,213), Shareholders’ equity was SEK 80,286 million (82,901), of which non-restricted equity SEK 64,573 million (67,189). The equity/assets ratio was 36.5 percent (35.7). As of December 31, 2016, the number of employees was 273 (298).