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

Recommendations

Info

TDC Group Annual Report 2011 Geographical markets DKKm Domestic operations International operations Total 2011 2010 2011 2010 2011 2010 External revenue 1 22,325 22,557 3,979 3,610 26,304 26,167 Non-current assets allocated 2 46,576 48,316 2,310 2,014 48,886 50,330 1 The revenue of the former 100% owned subsidiary Sunrise is included in Profit for the year from discontinued operations, cf. note 12. 2 Non-current assets other than Investments in joint ventures and associates, financial instruments, deferred tax assets and pension assets. Note 5 Revenue DKKm 2011 2010 Sales of goods 1,759 1,373 Sales of services 24,545 24,794 Total 26,304 26,167 External revenue from products and services DKKm 2011 2010 Landline telephony 5,046 5,683 Mobile telephony 7,267 7,175 Internet and network 6,870 7,021 Terminal equipment, etc. 3,015 2,428 Cable TV 3,588 3,298 Other 518 562 Total 26,304 26,167 No customer comprises more than 10% of revenue. Note 6 Wages, salaries and pension costs DKKm 2011 2010 Wages and salaries (4,431) (4,635) Pensions (see note 27 for further information) (547) (558) Share-based remuneration (58) 0 Social security (258) (243) Total (5,294) (5,436) Of which capitalised as non-current assets 653 674 Total wages, salaries and pension costs recognised in the Income Statements (4,641) (4,762) 118
Number of full-time employee equivalents 1 TDC Group Annual Report 2011 2011 2010 1 January 10,423 11,277 Redundancy programmes (783) (841) Outsourcing (7) 0 Acquisitions and divestments 142 28 Hirings and resignations 41 (41) 31 December 2 9,816 10,423 Hereof domestic operations 8,552 9,200 Average number of full-time employee equivalents, TDC Group 3, 4 10,106 10,860 1 Denotes the number of full-time employee equivalents including permanent employees and trainees. 2 At 31 December 2011,156 (2010: 178) employees who are entitled to pensions on conditions similar to those provided for Danish civil servants were seconded to external parties in connection with outsourcing of tasks or divestment of operations. 3 The figure covers only continuing operations. Calculated including discontinued operations, the average number of full-time employee equivalents amounted to 10,106 in 2011 and 12,149 in 2010. Employees in acquired enterprises are included as the average number of full-time employee equivalents from the time of acquisition until 31 December. Employees in divested enterprises are included as the average number of full-time employee equivalents from 1 January to the time of divestment. 4 The average number of full-time employee equivalents includes 167 (2010: 186) TDC employees who have been seconded to external parties in connection with outsourcing of tasks or divestment of operations and who are entitled to pensions on conditions similar to those provided for Danish civil servants. Remuneration principles TDC aims to be an attractive workplace for the foremost talents, experts and executives in Denmark and the Nordic countries. To maintain and develop TDC’s market position, remuneration is designed to be competitive in all relevant areas. The objective is to secure the right balance between rewarding short-term as well as long-term performance while at all times securing alignment of employee interests with those of shareholders to the extent possible. TDC’s approach to the total compensation packages is as follows: • Remuneration is viewed in a broader context than simply financial remuneration packages. Pensions, incentives and benefits, health insurance, competency development and career progression are important parts of the attraction of working at TDC. • As being competitive in the relevant markets is a main objective, salaries, incentives and benefits are designed accordingly. However, TDC´s market-leading position is taken into consideration. • TDC aims at using performance-based pay in all relevant areas and at all levels. The aim is to secure a clear and direct link between individual employee remuneration and day-to-day performance. • Main employee groups are covered by collective agreements and annual agreements with the unions, which may contain elements of general pay adjustment (equal pay adjustment for groups of employees). TDC’s executive remuneration is characterised by: • TDC’s executive remuneration is closely linked to company performance and shareholder value creation. The executive remuneration comprises a mix of a fixed base salary and incentive programmes that are measurable, controllable, well defined and aligned with shareholder interests. • The remuneration varies by level and consists of a base salary, pension contribution, a cash-based incentive and share performance programmes based on Total Shareholder Return, company performance and peer group performance. The split between fixed salary and variable remuneration is set to ensure a clear focus on short-term performance and achievement of our longterm business objectives. • TDC’s executive remuneration is assessed against a benchmark of large Danish companies – some also including international activities, to ensure competitiveness. • Executive remuneration is decided by the Compensation Committee. 119
Page 1 and 2:
2011 Group Annual Report
Page 3 and 4:
TDC Group Annual Report 2011 Accomp
Page 5 and 6:
While our business is less impacted
Page 7 and 8:
Revenue The TDC Group’s revenue i
Page 9 and 10:
Profit for the year Profit for the
Page 11:
Guidance 2011 TDC published financi
Page 14 and 15:
TDC during 130 years TDC turns 130
Page 16 and 17:
Internet The four regional telephon
Page 18 and 19:
TDC Group Annual Report 2011 “The
Page 20 and 21:
TDC today Profile TDC is the leadin
Page 22 and 23:
Product lines In a rapidly changing
Page 24 and 25:
Innovations in TDC in 2011 TDC is a
Page 26 and 27:
TDC’s mission, vision and values
Page 28 and 29:
Strategy 2012 Customer satisfaction
Page 30 and 31:
TDC Group Annual Report 2011 30
Page 32 and 33:
TDC’s homedisk stores 320,000 GB
Page 34 and 35:
Consumer 2011 at a glance • Consu
Page 36 and 37:
To an increasing extent, customers
Page 38 and 39:
Performance in 2011 Revenue The bus
Page 40 and 41:
Business partners & colleagues Cope
Page 42 and 43:
Nordic 2011 at a glance • Solid r
Page 44 and 45:
Gross profit The gross profit growt
Page 46 and 47:
Performance in 2011 Revenue Wholesa
Page 48 and 49:
YouSee 2011 at a glance • Strong
Page 50 and 51:
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 102 and 103: TDC Group Annual Report 2011 Consol
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 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
Page 152 and 153: TDC Group Annual Report 2011 Sensit
Page 154 and 155: C: Pensions for former Danish civil
Page 156 and 157: TDC Group Annual Report 2011 Assets
Page 158 and 159: Note 35 Overview of Group companies
Page 162 and 163: Note 39 Research and development co
Page 164 and 165: Five year overview TDC Group Annual
Page 166: Cover photo: NW Copenhagen Translat
show all

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

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?