Key figures
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Supplementary three-year overview
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The information below is a summary of Teleca’s financial result and position. The years 2006 and 2007 are presented in accordance with the 2007 annual report. The Consolidated balance sheet and cash flow statements for 2005 are presented in accordance with the 2006 annual report. The Consolidated income statement for 2005 has been recalculated in order to increase the comparability with the Consolidated income statements for 2006 and 2007 (see below for a detailed description). Teleca has carried out substantial restructurings during the last three years. Furthermore, Teleca has discontinued parts of its operations during 2006 and 2007. The current financial information regarding the discontinued operations has, in accordance with IFRS, been accounted for separately from the continuing operations. Net profit/loss from the discontinued operations, and the results from sales or liquidations, have been accounted for in a single number in the income statement. The below summary of the Group’s accounts should be read together with Teleca’s annual reports for 2007 and 2006, and their accompanying notes.
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Consolidated income statement, SEK M
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2007
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2006
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2005
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Operating income
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1 310.8
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1 489.5
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1 275.7
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Operating expenses
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-1 844.2
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-1 766.8
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-1 298.7
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Operating profit/loss
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-533.4
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-277.3
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-23.0
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Profit/loss from finacial investments
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-6.3
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-34.6
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4.8
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Profit/loss/ after
finacial items
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-593.7
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-311.9
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-18.2
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Tax on profit/loss for the year
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-123.7
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15.6
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-21.3
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Profit/loss from continuing operations
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-663.4
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-296.3
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-39.5
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Profit/loss from
discontinued operations
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336.5
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297.9
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86.4
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Profit/loss for the year
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-326.9
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1.6
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46.9
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Explanations to the consolidated income statement:
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A one time charge of sek –502 million that affected the operating result in 2007 was related to the close down of Products
consisting of write-down of goodwill of sek –357 million, write-down of capitalized r&d of sek –104 million and provisions for restructuring of sek –41 million. Furthermore, the year’s tax expense includes a write-down of deferred tax receivables of sek –95 million, which was done as a consequence of a decision to discontinue operations. The operating result in 2006 included a one time charge of sek –198 million, consisting of write-down of capitalized r&d of sek –95 million and reserves for restructuring costs of sek –103 million.
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Discontinued operation, SEK M
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2007
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2006
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2005
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Profit/loss from Benimas operations
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-0.9
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10.2
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34.4
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Profit from sale of Benima
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-
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279.6
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-
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Profit/loss from auSystem operations
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-13.8
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9.8
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57.3
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Profit from the sale of auSystem
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370.3
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-
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-
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Loss from Teleca Japan operations
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-19.1
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-1.7
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-5.3
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Profit/loss from discontinued operations
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336.5
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297.9
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86.4
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On 1 April, 2007 Teleca sold to Cybercom and Devoteam the companies within the asuSystem division, apart from Teleca
Spain. The purchase price amounted to sek 812 million and the profit from the transactions amounted to sek 370 million. The
result from Teleca Spain in the former auSystem division and Teleca Japan in Mobile division is also included in the discontinued operations. Teleca Japan was discontinued during the fourth quarter of 2007.
The discontinued operations for 2006 also include the results for Benima that was sold on 8 May, 2006.
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Consolidated balance sheet, SEK M
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2007
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2006
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2005
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Non-current assets
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1 204.2
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2 136.1
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2 110.7
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Current assets
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542.3
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967.5
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981.4
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Total assets
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1 746.5
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3 103.6
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3 092.1
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Equity
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1 046.2
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1 948.0
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1 978.1
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Current liabilities
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99.8
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156.2
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94.5
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Non-current liabilities
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600.5
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999.4
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1 019.5
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Total equity and liabilities
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1 746.5
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3 103.6
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3 092.1
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Consolidated cash flow statement, SEK M
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2007
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2003
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2004
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Cash flow from operating activities
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-233.6
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-70.4
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203.3
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Cash flow from investing activities
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747.3
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73.0
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-198.3
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Cash flow from financing activities
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-543.0
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17.9
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-61.5
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Change in cash and cash equivalent
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-29.3
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20.5
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-56.5
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Cash and cash equivalent beginning of period
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59.7
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47.5
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96.5
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Exchange differences
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6.2
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-8.3
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7.5
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Change in cash and cash equivalent
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-29.3
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20.5
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-56.5
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Cash and cash equivalent at end of year
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36.6
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59.7
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47.5
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