Five-year summary

Telia Company Group
Financial data

2017

2016

2015

2014

20137

Income statement (SEK in millions)1

         

Net sales

79,867

84,178

86,569

81,131

101,870

Operating income

13,690

21,090

14,606

17,743

24,462

EBITDA excluding adjustment items

25,438

25,836

25,281

24,364

35,584

EBITDA

25,806

29,813

23,992

23,453

33,656

Net income from continuing operations

8,416

16,433

9,532

12,219

Net income from discontinued operations

1,729

-9,937

673

3,379

Net income

10,146

6,496

10,205

15,599

16,767

           

Financial position (SEK in millions)2

         

Goodwill and other intangible assets

76,652

70,947

67,933

86,161

81,522

Property, plant and equipment

60,024

58,107

55,093

69,669

64,792

Other non-current assets

37,828

50,421

50,824

54,592

46,681

Current assets

69,341

73,955

80,167

61,645

59,833

Total assets

243,845

253,430

254,017

272,066

252,828

Total equity

105,230

94,869

102,202

116,364

112,934

of which attributable to owners of the parent

99,970

89,833

97,884

111,383

108,324

Non-current liabilities

106,740

101,734

109,175

118,163

103,226

Current liabilities

31,875

56,826

42,641

37,539

36,668

Total equity and liabilities

243,845

253,430

254,017

272,066

252,828

           

Capital employed, continuing and discontinued operations

192,465

184,900

193,486

208,365

192,134

Operating capital, continuing and discontinued operations

135,188

136,041

144,609

155,683

143,154

Net debt, continuing and discontinued operations

33,823

50,756

55,717

59,320

55,774

           

Cash flows (SEK in millions)3

         

Cash flow from operating activities

23,569

25,970

35,249

29,252

31,036

Cash flow from investing activities

-10,115

-7,428

-28,985

-21,979

-14,644

Cash flow from financing activities

-13,905

-22,491

-9,628

-10,269

-15,013

Cash flow for the year

-451

-3,949

-3,363

-2,997

1,379

           

Free cash flow

7,164

7,267

16,550

13,046

16,310

of which from discontinued operations

-4,640

116

4,030

4,905

           

Investments (SEK in millions)4

         

CAPEX

15,672

15,625

14,595

11,955

16,332

Acquisitions and other investments

4,973

483

5,818

1,210

1,461

Total investments

20,645

16,108

20,413

13,165

17,793

           

Key ratios5

         

Return on equity (%)

11.2

4.5

9.3

15.0

15.9

Return on capital employed (%)

9.4

7.7

8.9

1.2

13.5

Equity/assets ratio (%)

39.1

34.0

35.1

38.0

39.5

Net debt/equity ratio (%)

35.5

58.9

62.5

57.4

55.8

Net debt/EBITDA rate excluding adjustment items

1.14

1.69

1.53

1.68

1.57

Net debt/assets ratio

13.9

20.0

21.9

21.8

22.1

Owners’ equity per share (SEK)

23.1

20.75

22.61

25.72

25.02

           

Share data

         

Number of outstanding shares (millions)

         

– at the end of the period

4,330.1

4,330.1

4,330.1

4,330.1

4,330.1

– average, basic

4,330.1

4,330.1

4,330.1

4,330.1

4,330.1

– average, diluted

4,330.1

4,330.1

4,330.1

4,330.1

4,330.1

Basic and diluted total earnings per share (SEK)

2.22

0.86

1.97

3.35

3.46

Cash dividend per share (SEK)6

2.30

2.00

3.00

3.00

3.00

Total cash dividend (SEK in millions)6

9,959

8,660

12,990

12,990

12,990

Pay-out ratio (%)8

81

115

152

90

87

1) Former segment region Eurasia is classified as held for sale and discontinued operations since December 31, 2015, and is therefore presented on one line in the income statement 2017 - 2014. The above presented income statement line items for 2017 - 2014 refer to continuing operations if not otherwise stated.

2) Assets and liabilities in former segment region Eurasia are presented separately on two line items in the consolidated statement of financial position as of December 31, 2017, 2016 and 2015. The Sergel companies (Sergel) are included in continuing operations until the divestment as per June 30, 2017, but classified as assets held for sale since June 30, 2016. In the above presented balance sheet line items assets classified as held for sale and liabilities directly associated with assets classified as held for sale are included in current assets and current liabilities.

3) Cash flow information is presented including discountinued operations.

4) 2017 - 2014 including continuing operations only.

5) Key ratios are based on the total Telia Company group including both continuing and discontinued operations for 2017 - 2013. The definition for the key ratio Return on capital employed was changed during 2014 (see Definitions). 2017 - 2013 have been calculated with the current definition.

6) For 2017 as proposed by the Board of Directors.

7) 2013 is not restated to reflect classification of former segment region Eurasia as discontinued operations.

8) For 2017, the Board of Directors proposes to the Annual General Meeting an ordinary dividend of SEK 2.30 per share, or 81 percent of free cash flow attributable to continuing operations excluding licenses, due to this the definition of paid-out ratio has been changed. 2013-2015 have not been recalculated.

Telia Company Group

Operational data

2017

2016

2015

2014

2013

Mobile services

         

Total subscriptions (thousands)1

16,678

16,695

20,033

19,179

19,337

of which Sweden

         

Mobile telephony, total subscriptions (thousands)2

6,118

6,207

6,119

6,186

6,171

Mobile telephony, blended churn (%)

19

17

19

19

19

Mobile telephony, ARPU (SEK)

213

209

206

200

198

of which Finland

         

Mobile telephony, subscriptions (thousands)

3,221

3,253

3,306

3,281

3,245

Mobile telephony, blended churn (%)

26

23

21

21

21

Mobile telephony, ARPU (EUR)

18

17

16

17

18

of which Norway3

         

Mobile telephony, subscriptions (thousands)

2,345

2,211

2,311

1,344

1,532

Mobile telephony, ARPU (NOK)

259

252

259

283

258

of which other countries

         

Mobile telephony, subscriptions, Denmark (thousands)

1,479

1,606

1,644

1,581

1,522

Mobile telephony, subscriptions, Lithuania (thousands)

1,352

1,318

1,327

1,378

1,546

Mobile telephony, subscriptions, Latvia (thousands)

1,237

1,200

1,119

1,097

1,066

Mobile telephony, subscriptions, Estonia (thousands)

925

901

863

841

821

Mobile telephony, subscriptions, Spain (thousands)

3,344

3,471

3,434

Fixed services

         

Broadband, total subscriptions (thousands)

2,512

2,559

2,589

2,543

2,416

of which

         

Broadband, subscriptions, Sweden (thousands)

1,286

1,299

1,306

1,275

1,208

Broadband, subscriptions, Finland (thousands)

464

497

527

561

532

Broadband, subscriptions, Denmark (thousands)

114

128

135

114

99

Broadband, subscriptions, Lithuania (thousands)4

410

402

390

369

355

Broadband, subscriptions, Estonia (thousands)

238

233

231

224

222

Fixed telephony, total subscriptions (thousands)5

2,182

2,565

2,838

3,034

3,247

of which

         

Fixed telephony, subscriptions, Sweden (thousands)

1,381

1,675

1,896

2,054

2,209

Fixed telephony, subscriptions, Finland (thousands)

50

65

80

99

108

Fixed telephony, subscriptions, Norway (thousands)

11

Fixed telephony, subscriptions, Denmark (thousands)

90

101

114

122

121

Fixed telephony, subscriptions, Lithuania (thousands)

371

417

447

468

504

Fixed telephony, subscriptions, Estonia (thousands)

279

307

301

291

305

Human Resources6

         

Number of employees as of December 31

25,472

26,017

26,895

26,166

26,013

Average number of full-time employees during the year

24,468

24,898

25,450

24,973

25,319

of whom, in Sweden

7,955

8,109

8,172

7,977

8,122

of whom, in Finland

3,463

3,276

3,326

3,577

3,745

of whom, in other countries

13,050

13,513

13,953

13,419

13,452

of whom, women

9,990

10,227

10,777

10,579

10,958

of whom, men

14,478

14,670

14,673

14,394

14,361

Salaries and remuneration (SEK in millions)

9,819

9,534

9,408

9,746

9,400

Employer’s social security contributions (SEK in millions)

2,179

2,056

1,992

1,893

1,900

Salaries and employer’s social security contributions
as a percentage of operating costs

15.9

13.2

12.6

14.4

14.0

Net sales per employee (SEK in thousands)

3,725

3,929

4,220

4,047

4,023

Operating income per employee (SEK in thousands)

663

518

639

908

966

Net income per employee (SEK in thousands)

415

261

401

625

662

1) The definition of number of mobile prepaid subscriptions was changed in 2015. 2013 and 2014 were restated for comparability in 2015. Prepaid subscriptions are counted if the subscriber has been active during the last three months.

2) As a result of a review of certain types of mobile subscriptions in Sweden the operational data for number of subscriptions has for 2015 been restated for comparability.

3) As a result of a review of certain types of mobile subscriptions in Norway the operational data for number of subscriptions has for 2014 been restated for comparability. 2014 and 2015 have also been restated to reflect the discovery of certain classification errors between net sales and cost of sales referring to insurance sales in Norway.

4) The definition for number of broadband subscriptions in Lithuania was changed in 2015. 2013 and 2014 were restated for comparability in 2015.

5) Fixed telephony subscriptions include PSTN and VoIP.

6) HR data is based on the total Telia Company group including both continuing and discontinued operations.