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

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Five year overview TDC Group Annual Report 2011 TDC Group 2011 2010 2009 2008 2007 Income Statements DKKm Revenue 26,304 26,167 26,079 26,917 27,951 Gross profit 19,172 19,420 19,635 19,678 20,006 EBITDA before pension income 10,501 10,337 10,249 9,669 8,911 EBITDA 10,940 10,772 10,536 10,054 9,376 Depreciation, amortisation and impairment losses (5,227) (5,356) (4,659) (4,547) (5,776) Operating profit (EBIT), excluding special items 5,713 5,416 5,877 5,507 3,600 Special items (864) (1,347) (1,119) (3,212) 664 Operating profit (EBIT) 4,849 4,069 4,758 2,295 4,264 Profit from joint ventures and associates (25) 13 76 200 266 Net financials (880) (1,496) (2,064) (2,048) (2,763) Profit before income taxes 3,944 2,586 2,770 447 1,767 Income taxes (1,131) (782) (809) (438) 519 Profit for the year from continuing operations 2,813 1,804 1,961 9 2,286 Profit for the year from discontinued operations¹ (5) 1,203 422 548 1,346 Profit for the year 2,808 3,007 2,383 557 3,632 Attributable to: Owners of the Parent Company 2,808 3,007 2,424 708 3,912 Minority interests - - (41) (151) (280) Profit for the year, excluding special items Operating profit (EBIT) 5,713 5,416 5,877 5,507 3,600 Profit from joint ventures and associates (25) 3 (1) 222 342 Net financials (880) (1,496) (2,064) (2,048) (2,763) Profit before income taxes 4,808 3,923 3,812 3,681 1,179 Income taxes (1,310) (1,035) (1,085) (722) 321 Profit for the year from continuing operations 3,498 2,888 2,727 2,959 1,500 Profit for the year from discontinued operations¹ - 413 575 352 198 Profit for the year 3,498 3,301 3,302 3,311 1,698 Five year overview 164
TDC Group Annual Report 2011 TDC Group 2011 2010 2009 2008 2007 Balance Sheets DKKbn Total assets 65.2 64.8 86.4 100.0 106.1 Net interest-bearing debt (21.0) (22.6) (33.5) (34.9) (41.5) Total equity 22.2 20.9 27.1 31.7 32.2 Average number of shares outstanding (million) 816.7 981.8 990.5 990.5 990.4 Statements of Cash Flow DKKm Continuing operations: Operating activities 7,177 7,238 7,440 5,743 5,785 Investing activities (3,637) (3,889) (4,811) 2,096 5,492 Financing activities (2,815) (20,091) (10,261) (9,506) (13,770) Total cash flow from continuing operations 725 (16,742) (7,632) (1,667) (2,493) Total cash flow in discontinued operations¹ (67) 16,810 1,677 88 7,051 Total cash flow 658 68 (5,955) (1,579) 4,558 Equity free cash flow DKKm 4,594 4,515 4,426 2,424 1,995 Capital expenditure DKKm Capital expenditure (3,421) (3,534) (3,891) (3,975) (3,979) Key financial ratios Earnings Per Share (EPS) DKK 3.44 3.06 2.45 0.71 3.95 EPS from continuing operations, excl. special items DKK 4.28 2.94 2.75 2.99 1.51 Dividend payments per share DKK 2.18 - 7.85 0.72 0.70 Gross profit margin % 72.9 74.2 75.3 73.1 71.6 EBITDA margin before pension income % 39.9 39.5 39.3 35.9 31.9 EBITDA margin % 41.6 41.2 40.4 37.4 33.5 Capex-to-revenue ratio % 13.0 13.5 14.9 14.8 14.2 Net interest-bearing debt/EBITDA before pension income x 2.0 2.2 3.3 3.1 4.2 Net interest-bearing debt/EBITDA x 1.9 2.1 3.2 3.0 4.0 RGUs (end-of-year) ('000) Landline 1,775 1,915 2,045 2,160 2,387 Mobile 3,894 3,607 3,621 3,156 2,926 Internet 1,777 1,807 1,814 1,765 1,737 Other networks and data connections 62 64 64 63 60 TV 1,496 1,464 1,395 1,245 1,187 Total RGUs 9,004 8,857 8,939 8,389 8,297 Domestic dual-play bundles 366 304 213 - - Domestic triple-play bundles 145 116 86 - - FTEs Number of FTEs (EoY) 9,816 10,423 11,277 11,772 13,939 Average number of FTEs 10,106 10,860 11,519 13,020 14,531 ¹ The operations of the following enterprises are presented as discontinued operations: Sunrise (divested in 2010), Invitel (divested in 2009) and Talkline (divested in 2007). Other divestments are included in the respective accounting items during the ownership. 165
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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
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Performance in 2011 In 2011, Operat
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In 2011, TDC showed its ability to
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Shareholder information Policy TDC
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Share price In a challenging market
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TDC has 2,550 3G sites in Denmark,
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Regulation Overview The summary bel
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Risk factors TDC is faced with both
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Risk Description and impact Mitigat
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Corporate Social Responsibility 201
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Corporate Social Responsibility The
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of life of the individual patients
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At TDC, we continued to increase th
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Red Cross for vulnerable population
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YouSee and TDC in combination deliv
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Corporate Governance Recommendation
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Management Corporate Management Tea
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Board of Directors Vagn Sørensen C
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Jan Bardino Age 59. Elected by the
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Coax refers to a technology based o
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data, which may vary in accuracy. A
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Financial Statements 2011
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Financial Statements Financial Stat
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Management Statement TDC Group Annu
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TDC Group Annual Report 2011 Consol
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TDC Group Annual Report 2011 Assets
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TDC Group Annual Report 2011 Consol
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Notes to Consolidated Financial Sta
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interests is recognised in equity.
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Special items Special items include
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account exceeding the amount capita
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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
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 166: Cover photo: NW Copenhagen Translat
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TDC Group Annual Report 2011(6,4MB) - TDC Annual Report 2011

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