Annual and Sustainability Report 2011 - Teracom

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Note 2. Operating income Note 3. Leasing Net sales by revenue category Group Parent Company 2011-06-01 Revenue category 2011 2010 2011-12-31 Service assignments 4 046 3 848 33 Total 4 046 3 848 33 Net sales for the Group includes income from operating leases in the amount of SEK 281 (187) million. Group Parent Company Other income/other 2011-06-01 operating income 2011 2010 2011-12-31 Exchange gains on receivables or payables from operating activities 2 4 0 Gains on disposal of equipment 2 0 0 Other 9 0 0 Total 13 4 0 Exchange gains on receivables or payables from operating activities These are primarily exchange gains on accounts payable. Other Primarily attributable to market contributions from program companies. Leases where the lessor retains substantially all of the risks and rewards incident to ownership are classified as operating leases. The Teracom Group as lessor in operating lease agreements The Group's income from operating leases is reported as part of net sales in the income statement. This income primarily comes from co-locations. The Teracom Group has a nationwide network in Sweden and Denmark of strategically located masts and stations with high performance and radio coverage. Group Minimum lease payments Maturity date 2011 2010 Within one year 205 194 More than one year, but less than five years 262 379 More than five years 2 3 Total 469 576 The Teracom Group as lessee in operating lease agreements The Group has operating lease agreements primarily relating to commercial rental contracts for premises for offices and technical equipment, co-location contracts and communication contracts. For the remaining term, these contracts are non-cancelable. The majority of leasing contracts have terms such that indexing of the minimum lease payments according to established indexation is possible. The future minimum lease payments that are required according to non-cancelable operating lease agreements are as follows: Group Minimum lease payments Maturity date 2011 2010 Within one year 44 52 More than one year, but less than five years 59 64 More than five years 24 26 Total 127 142 For the 2011 financial year, total operating lease expenses were SEK 112 (105) million. The Teracom Group as lessee in financial lease agreements The Group leases certain items of property, plant and equipment, such as service vehicles, company cars and other vehicles. Leasing agreements pertaining to fixed assets, where the Group retains substantially all of the risks and rewards incident to ownership, are classified as financial leases. At the inception of the lease, financial leases are reported in the balance sheet at the leased asset's fair value or the present value of the minimum lease payments (whichever is lower). Adjustments to financial lease agreements for depreciation and disposals amounted to SEK 0 (1) million. 72
Note 4 Segment reporting The Group management team has established operating segments based on the information used to make strategic decisions. The operating segments are responsible for the operating profit and the working capital that they manage. The Parent Company with Group functions is reported on the line "Other". These function-based departments have income of insignificant amounts, which is why they are not considered to be separate operating segments (in accordance with IFRS 8). For sales between segments, market terms and market prices are used. Operating income Group operating segments, SEK million 2011 2010*) Teracom Sweden 1 478 1 473 Boxer Sweden 2 011 2 041 Teracom Denmark 345 92 Boxer Denmark 266 158 Plus TV 556 582 Other 60 7 Group adjustments -657 -501 Total 4 059 3 852 *) Comparable figures for the full-year 2010 were adjusted in accordance with new principles for operational follow-up. Operating profit/loss Group operating segments, SEK million 2011 2010*) Teracom Sweden 469 472 Boxer Sweden 278 331 Teracom Denmark 66 21 Boxer Denmark -260 -297 Plus TV -72 -81 Other -54 -83 One-off effects -36 -47 Group adjustments -15 -23 Total 376 293 *) Comparable figures for the full-year 2010 were adjusted in accordance with new principles for operational follow-up. Assets / Liabilities Assets Liabilities Group operating segments, SEK million 2011 2010 2011 2010 Teracom Sweden 3 422 5 447 1 851 2 662 Boxer Sweden 1 030 631 874 491 Teracom Denmark 1 453 1 842 149 340 Boxer Denmark 346 123 602 227 Plus TV 159 104 293 166 Other 6 045 - 4 183 - Group adjustments -6 902 -2 449 -4 502 -294 Total 5 553 5 698 3 450 3 592 Investments Group operating segments, SEK million 2011 2010 Teracom Sweden -288 -245 Boxer Sweden -24 -29 Teracom Denmark -18 -2 Boxer Denmark 0 0 Plus TV -2 -8 Total -332 -284 Depreciation/amortization Group operating segments, SEK million 2011 2010 Teracom Sweden -255 -257 Boxer Sweden -33 -28 Teracom Denmark -90 -21 Boxer Denmark -1 -1 Plus TV -8 -10 Other -17 -14 Total -404 -331 Impairment Group operating segments, SEK million 2011 2010 Teracom Sweden -7 -10 Boxer Sweden 0 -3 Teracom Denmark 0 0 Boxer Denmark 0 0 Plus TV -12 0 Other 0 -5 Total -19 -18 Geographic information Income from external customers, SEK million 2011 2010 Sweden 2 936 2 980 Finland 588 616 Denmark 481 221 Other countries 54 35 Total 4 059 3 852 The Group's property, plant and equipment and intangible assets, not including Group surplus values, are distributed to each respective country in the table below. Fixed assets, SEK million 2011 2010 Sweden 1 731 1 714 Finland 19 36 Denmark 1 357 1 480 Total 3 107 3 230 Note 5. Work performed by the company for its own use and capitalized Work performed by the company for its own use and capitalized consists of labor costs that are directly related to investments in property, plant and equipment. 73
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Annual and Sustainability Report 20
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Read more about the Swedish busines
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Denmark has been and continues to b
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Teracom Group On 1 June, Teracom Gr
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An integrated TV business The Group
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digital radio and, in connection wi
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Subsidized public transportation en
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Sweden Sweden is the Group’s firs
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The market The competition primaril
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67 PR5 Customer satisfaction for Bo
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Denmark Denmark is the Group's youn
Page 24 and 25: Chris Corneliussen, Boxer Denmark
Page 26 and 27: Finland PlusTV is the largest Pay-T
Page 28 and 29: Kimi »The Iceman« Räikkönen is
Page 30 and 31: Sustainability - corporate responsi
Page 32 and 33: The Teracom Group’s sustainabilit
Page 34 and 35: The Group's breakdown of climate im
Page 36 and 37: Employees For the Teracom Group, hi
Page 38 and 39: Media plurality requires a long-ter
Page 40 and 41: Reporting in accordance with GRI gu
Page 42 and 43: GRI G3 Index Reference Comments 1.
Page 44: Contents 44 Directors’ Report 49
Page 47 and 48: Operating profit for the year amoun
Page 49 and 50: Diversity and equal opportunity Div
Page 51 and 52: Corporate Governance Report The Cor
Page 53 and 54: Teracom AB's 2011 AGM Teracom AB's
Page 55 and 56: Evaluation of the Board of Director
Page 57 and 58: ously striving to achieve long-term
Page 59 and 60: 1 2 3 4 5 6 7 8 9 10 11 12 Board of
Page 61 and 62: Consolidated Income Statement MSEK
Page 63 and 64: Consolidated Cash Flow Statement MS
Page 65 and 66: Parent Company Income Statement MSE
Page 67 and 68: Parent Company Cash Flow Statement
Page 69 and 70: Notes Contents Note Description Pag
Page 71 and 72: the Group conducts an impairment te
Page 73: No major changes will be made for f
Page 77 and 78: Notice period and severance pay The
Page 79 and 80: Return on plan assets 2011 2010 For
Page 81 and 82: Note 13. Tax on profit for the year
Page 83 and 84: Note 16. Goodwill and other intangi
Page 85 and 86: Note 17. Other financial assets Gro
Page 87 and 88: Net investments of foreign operatio
Page 89 and 90: Financial derivative instruments Th
Page 91 and 92: Note 26. Shares and participations
Page 93 and 94: Auditors' report on overall review
Page 95: Responsibility of the auditor It is
Page 98 and 99: Technical definitions Broadcasting
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Annual and Sustainability Report 2011 - Teracom

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