TDC Group Annual Report 2011(6,4MB) - TDC Annual Report 2011

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TDC Group Annual Report 2011 Consolidated Statements of Cash Flow DKKm Note 2011 2010 Operating profit before pension income, depreciation, amortisation and special items (EBITDA before pension income) 10,501 10,337 Adjustment for non-cash items 28 143 217 Pension contributions (157) (169) Payments related to provisions (90) (11) Cash flow related to special items (786) (792) Change in working capital 29 (67) 571 Cash flow from operating activities before net financials and tax 9,544 10,153 Interest received 720 339 Interest paid (1,365) (1,761) Realised currency translation adjustments (7) 7 Cash flow from operating activities before tax 8,892 8,738 Income tax paid (1,715) (1,500) Cash flow from operating activities in continuing operations 7,177 7,238 Cash flow from operating activities in discontinued operations 0 1,504 Total cash flow from operating activities 7,177 8,742 Investment in enterprises 30 (267) (286) Investment in property, plant and equipment (2,526) (2,678) Investment in intangible assets (955) (968) Investment in other non-current assets (27) (52) Divestment of enterprises 31 7 0 Sale of property, plant and equipment 18 39 Sale of intangible assets 0 9 Divestment of joint ventures and associates 0 1 Sale of other non-current assets 109 12 Dividends received from joint ventures and associates 4 34 Cash flow from investing activities in continuing operations (3,637) (3,889) Cash flow from investing activities in discontinued operations 32 (67) 15,327 Total cash flow from investing activities (3,704) 11,438 Proceeds from long-term loans 16,678 0 Repayments of long-term loans (17,928) (8,872) Change in short-term bank loans 215 (2,149) Dividends paid (1,780) (70) Acquisition of treasury shares 0 (9,000) Cash flow from financing activities in continuing operations (2,815) (20,091) Cash flow from financing activities in discontinued operations 0 (21) Total cash flow from financing activities (2,815) (20,112) Total cash flow 658 68 Cash and cash equivalents at 1 January 33 831 763 Cash and cash equivalents at 31 December Consolidated Statements of Cash Flow 1,489 831 102
TDC Group Annual Report 2011 Consolidated Statements of Changes in Equity DKKm Share capital Reserve for currency translation adjustments Reserve for cash flow hedges Retained earnings Proposed dividends Total Equity at 1 January 2010 992 (644) 0 26,730 0 27,078 Currency translation adjustments, foreign enterprises Currency hedging of net investments - 2,041 - 0 - 2,041 in foreign enterprises Reversal of currency translation - (706) - 0 - (706) adjustments, foreign enterprises Actuarial gains/(losses) related to - (1,234) - 0 - (1,234) defined benefit pension plans Income tax relating to components of - 0 - (515) - (515) other comprehensive income Reversal of income tax relating to currency hedging of net investments - 0 0 121 - 121 in foreign enterprises - (78) - 0 - (78) Profit for the year - - - 3,007 0 3,007 Total comprehensive income - 23 2,613 0 2,636 Acquisition of treasury shares - - - (9,000) - (9,000) Share-based remuneration - - - 141 - 141 Equity at 31 December 2010 992 (621) 0 20,484 0 20,855 Currency translation adjustments, foreign enterprises Reversal of currency translation - 6 - 0 - 6 adjustments, foreign enterprises - (1) - 0 0 (1) Fair value adjustments of cash flow hedges Fair value adjustments of cash flow hedges - - 266 - - 266 transferred to the Income Statement Actuarial gains/(losses) related to - - (150) - - (150) defined benefit pension plans Income tax relating to components of - - - 276 - 276 other comprehensive income - - - (78) - (78) Profit for the year - - - 1,018 1,790 2,808 Total comprehensive income - 5 116 1,216 1,790 3,127 Distributed dividends - - - (1,799) 0 (1,799) Dividends, treasury shares - - - 19 0 19 Cancellation of treasury shares (167) - - 167 - 0 Share-based remuneration - - - 42 - 42 Equity at 31 December 2011 825 (616) 116 20,129 1,790 22,244 See the Parent Company Statements of Changes in Equity with respect to which reserves are available for distribution. The distributable reserves amounted to DKK 24,794m (before proposed dividends) at 31 December 2011, compared with DKK 22,461m at 31 December 2010. At the Annual General Meeting on 8 March 2012, the Board of Directors will propose a dividend of DKK 2.17 per share or DKK 1,790m in total. Including the interim dividend of DKK 2.18 per share distributed on 10 August 2011, the proposed dividend for the financial year 2011 totals DKK 4.35 per share. For the financial year 2010 no dividends were distributed. 103
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2011 Group Annual Report
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TDC Group Annual Report 2011 Accomp
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While our business is less impacted
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Revenue The TDC Group’s revenue i
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Profit for the year Profit for the
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Guidance 2011 TDC published financi
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TDC during 130 years TDC turns 130
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Internet The four regional telephon
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TDC Group Annual Report 2011 “The
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TDC today Profile TDC is the leadin
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Product lines In a rapidly changing
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Innovations in TDC in 2011 TDC is a
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TDC’s mission, vision and values
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Strategy 2012 Customer satisfaction
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TDC Group Annual Report 2011 30
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TDC’s homedisk stores 320,000 GB
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Consumer 2011 at a glance • Consu
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To an increasing extent, customers
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Performance in 2011 Revenue The bus
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Business partners & colleagues Cope
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Nordic 2011 at a glance • Solid r
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Gross profit The gross profit growt
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Performance in 2011 Revenue Wholesa
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YouSee 2011 at a glance • Strong
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Gross profit YouSee’s gross profi
Page 52 and 53: Performance in 2011 In 2011, Operat
Page 54 and 55: In 2011, TDC showed its ability to
Page 56 and 57: Shareholder information Policy TDC
Page 58 and 59: Share price In a challenging market
Page 60 and 61: TDC has 2,550 3G sites in Denmark,
Page 62 and 63: Regulation Overview The summary bel
Page 64 and 65: Risk factors TDC is faced with both
Page 66 and 67: Risk Description and impact Mitigat
Page 68 and 69: Corporate Social Responsibility 201
Page 70 and 71: Corporate Social Responsibility The
Page 72 and 73: of life of the individual patients
Page 74 and 75: At TDC, we continued to increase th
Page 76 and 77: Red Cross for vulnerable population
Page 78 and 79: YouSee and TDC in combination deliv
Page 80 and 81: Corporate Governance Recommendation
Page 82 and 83: Management Corporate Management Tea
Page 84 and 85: Board of Directors Vagn Sørensen C
Page 86 and 87: Jan Bardino Age 59. Elected by the
Page 88 and 89: Coax refers to a technology based o
Page 90 and 91: data, which may vary in accuracy. A
Page 92 and 93: Financial Statements 2011
Page 94 and 95: Financial Statements Financial Stat
Page 96 and 97: Management Statement TDC Group Annu
Page 98 and 99: TDC Group Annual Report 2011 Consol
Page 100 and 101: TDC Group Annual Report 2011 Assets
Page 104 and 105: Notes to Consolidated Financial Sta
Page 106 and 107: interests is recognised in equity.
Page 108 and 109: Special items Special items include
Page 110 and 111: account exceeding the amount capita
Page 112 and 113: Assets or disposal groups classifie
Page 114 and 115: Note 3 New accounting standards At
Page 116 and 117: Note 4 Segment reporting For a desc
Page 118 and 119: TDC Group Annual Report 2011 Geogra
Page 120 and 121: TDC Group Annual Report 2011 Remune
Page 122 and 123: TDC Group Annual Report 2011 Deferr
Page 124 and 125: TDC Group Annual Report 2011 Note 8
Page 126 and 127: TDC Group Annual Report 2011 Net fi
Page 128 and 129: Reconciliation of effective tax rat
Page 132 and 133: TDC Group Annual Report 2011 is bas
Page 134 and 135: Land and buildings Telecommun icati
Page 138 and 139: TDC Group Annual Report 2011 Treasu
Page 142 and 143: TDC Group Annual Report 2011 Net in
Page 144 and 145: Maturity profiles 1 Financial asset
Page 146 and 147: exceed 25% in year two, 30% in year
Page 148 and 149: Financial transactions are only ent
Page 150 and 151: Other risks of capital contribution
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TDC Group Annual Report 2011 Sensit
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C: Pensions for former Danish civil
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TDC Group Annual Report 2011 Assets
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Note 35 Overview of Group companies
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TDC Group Annual Report 2011 Note 3
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Note 39 Research and development co
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Five year overview TDC Group Annual
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Cover photo: NW Copenhagen Translat
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TDC Group Annual Report 2011(6,4MB) - TDC Annual Report 2011

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