SOS Alarm Sverige AB’s principal task is to be responsible, on assignment from the state, for the emergency response service in Sweden by receiving and forwarding calls to the emergency num-ber 112 and to offer municipalities and county councils rout-ing and prioritisation of ambulance and fire services, for exam-ple. SOS Alarm is also capable of acting as a command centre for emergency response teams and, when capacity is available, receiv-ing and dealreceiv-ing with alarms from automated alarm systems.
Significant events in 2015
• Operating profit declined due to factors including increased staffing of operational personnel and organisational changes.
• Maria Khorsand was appointed the new CEO and acceded to the position in January 2016.
• Additional compensation of SEK 30 million to achieve cost coverage of the 112 emergency number assignment.
Targets and tracking
New financial, public policy and sustainability targets are planned for the April 2016 AGM.
Financial targets
• Profitability: ROE of 8 per cent over a rolling five-year period.
• Capital structure: Minimum equity/assets ratio of 40–50 per cent adjusted to at least 30 per cent.
• Dividend: 5 per cent of equity.
Outcomes
• The long-term financial targets were not met. The equity/
assets ratio was 27 (26) per cent and ROE was -1.5 (19.5) per cent.
Sustainability targets
• Secure citizens
• Improve customer relationships.
• Motivated employees
• Stable profitability
• Reduced environmental load.
Outcomes
• 2016 will be a zero base measurement for the public confidence index.
• Customer satisfaction increased during the year and exceeded the target level.
• Employee turnover and the sickness absence rate are still chal-lenges for the company, although the net flow of nurses is now positive. Basic staffing has now reached a higher level, which is expected to have positive impact in future periods.
Public policy targets
SOS Alarm has a specifically adopted public policy assign-ment. Operations that are financed by state budget appropria-tions within the framework of the public policy assignment are tracked. Targets have been established for response times.
Outcomes
The public policy targets for response times improved during the year but did not attain the level stated in the 112 agreement.
The average response time in 2015 was 13.2 (15.3) seconds.
Chair: Eva Fernvall CEO: Maria Khorsand Directors and auditors elected for 2016/2017
Chair: Eva Fernvall Board: Alf Jönsson, Ingrid Lennerwald, Johnny Magnusson, Maria Nilsson, Ewa Ställdal and Håkan Sörman. Jenny Lahrin and Inge Lindberg were elected at the 2016 AGM. Johan Hallberg stepped down Employee reps: Mats Lundgren, Bengt Norberg Alternate employee reps: Johan Magnusson, Maria Olsson Auditor: Magnus Fagerstedt (EY)
Fees paid to the chairman were SEK 140 (125) thousand. Fees paid to directors elected by the AGM amounted to SEK 80 (75) thousand. Fees are not paid to directors employed by the Government Offices.
State ownership (50%) 2015 2014
Income statement, SEKm
Net sales 970 953
Operating profit 1 30
Financial income 2 3
Profit/loss before tax 2 33
Net profit -2 29
– of which attributable to minority interest 0 0 Balance sheet, SEKm
Total assets 578 618
Non-current assets 197 228
Equity 158 162
– of which, minority interests 5 7
Net debt -197 -154
Operating capital -39 8
Key indicators
Operating margin, % 0.1 3.2
Return on equity (average), % -1.5 19.5
Return on operating capital (average), % -6.4 101.3
Net debt/equity ratio, multiple -1.2 -1.0
Equity/assets ratio, % 27.4 26.3
Gross investments, SEKm 44 52
Appropriation, SEKm 251 244
Dividend, SEKm 0 0
Average no. of employees 909 848
Employees, gender distribution (women/men), % 58/42 58/42 Management group, gender distribution (women/men), % 58/42 56/44 Board, gender distribution (women/men), % 56/441 56/44
Reported in compliance with GRI guidelines Yes
Externally assured GRI report Yes
Reporting in compliance with IFRS No
1) Elected for 2016/2017.
Specialfastigheter
Specialfastigheter Sverige AB owns, develops and manages prop-erties in Sweden with strict security requirements. Operations are conducted in three business areas: correctional services, defence and judiciary and institutional care and other special operations. The largest tenants are the Prison and Probation Service, the National Police Board, the National Board of Institutional Care (SiS), the Armed Forces and the Swedish Defence Materiel Administration (FMV). Specialfastigheter’s operations are conducted on a long-term and commercial basis and are distinguished by long contracts, which creates stability in financial performance.
Significant events in 2015
• Stable rental income and earnings.
• The market value of the properties increased by 3 per cent to SEK 20,919 million.
Targets and tracking
Financial targets
• Profitability: Return on equity of 8 per cent based on profit after tax and after reversal of changes in value and deferred tax.
• Capital structure: Equity/assets ratio of 25–35 per cent.
• Dividend: 50 per cent of profit after tax and after reversal of changes in value for the year and associated deferred tax.
Outcomes
• Return on equity exceeded target at 12.8 (11.9) per cent.
• The equity/assets ratio was 30.2 (41.2) per cent. The change is attributable to a special dividend of SEK 3 billion distributed to adjust the capital structure to the equity/assets target.
• The ordinary dividend for 2015 of SEK 446 million was dis-tributed according to policy.
Sustainability targets
• All leases must have green schedules attached to the contracts.
• Zero (0) instances of corruption or the giving or taking of bribes.
• At least 90 per cent of purchasing from contractual partners.
• Improve energy efficiency – Maximum energy consumption of 180 kWh/m2 for building electricity, operational electricity, heating, comfort cooling and hot water.
• At least 30 per cent of managers should be women.
Outcomes
• In a clear improvement, the share of leases with green schedules was 95 (32) per cent at year-end 2015.
• Zero (0) instances of corruption or the giving or taking of bribes were found.
• Contractual partners accounted for 88 (78) per cent of pur-chasing, which is close to the target.
• Energy consumption in 2015 was 206 (213) kWh/m2. A systematic effort to cut energy consumption is ongoing.
• The proportion of women managers was 32 (21) per cent.
Public policy targets
Specialfastigheter does not have a specifically adopted public policy assignment.
1) Per defined financial targets.
Chair: Bo Lundgren CEO: Åsa Hedenberg Directors and auditors elected for 2016/2017
Chair: Bo Lundgren Board: Jan Berg, Carin Götblad, Eva Landén, Mikael Lundström and Ulrika Nordström. Maj-Charlotte Wallin was elected at the 2016 AGM. Lotta Mellström and Nina Linander stepped down Employee reps: Masoomeh Antonsson, Roger Törngren Alternate employee rep:
Tomas Edström, Erik Ydreborg Auditor: Mikael Ikonen (EY)
Fees paid to the chairman were SEK 240 (240) thousand. Fees paid to directors elected by the AGM amounted to SEK 120 (120) thousand. Fees are not paid to directors employed by the Government Offices.
State ownership (100%) 2015 2014
Income statement, SEKm
Net sales 1,867 1,872
Changes in value 367 669
Operating profit 1,700 2,064
Financial income 4 0
Profit/loss before tax 1,474 1,782
Net profit 1,178 1,390
– of which attributable to minority interest 0 0 Balance sheet, SEKm
Total assets 22,012 20,571
Non-current assets 21,522 20,391
Equity 6,652 8,475
– of which, minority interests 0 0
Net debt 11,554 8,985
Operating capital 18,206 17,460
Key indicators
Operating margin, % 91.1 110.3
Return on equity (average), %1 12.8 11.9
Return on operating capital (average), % 9.5 12.0
Net debt/equity ratio, multiple 1.7 1.1
Equity/assets ratio, % 30.2 41.2
Gross investments, SEKm 404 374
Appropriation, SEKm 0 0
Dividend, SEKm 3,000 481
Average no. of employees 128 121
Employees, gender distribution (women/men), % 30/70 28/72 Management group, gender distribution (women/men), % 62/38 29/71 Board, gender distribution (women/men), % 57/432 43/57
Reported in compliance with GRI guidelines Yes
Externally assured GRI report Yes
Reporting in compliance with IFRS Yes
2) Elected for 2016/2017.
SSC
Svenska Rymdaktiebolaget (Swedish Space Corporation, SSC) is responsible for operation of the Esrange Space Center, provid-ing advanced space services to the global space market, conduct-ing technical development in the field of space operations and managing the operation and development of testing at the Vid-sel test site. SSC is a global group with about 500 employees in eleven countries, about half of whom in Sweden. Operations are conducted in four divisions:
• The civilian Esrange Space Center is unique by international comparison with its extensive infrastructure, rocket landing area and restricted air space.
• Satellite Management Services, which provides ground sta-tion services for satellite communicasta-tions.
• Engineering Services, which provides engineering services for planning and development of satellite missions, satellite con-trol and ground station services.
• Technology includes Aerospace Test Systems, which manages test operations at the Vidsel test site.
Significant events in 2015
• Operating profit excluding extraordinary items and restruc-turing costs improved by SEK 6 million year-on-year.
• High activity at the Esrange Space Center.
Targets and tracking
Financial targets
• Profitability: Return on operating capital of at least 6 per cent.
• Capital structure: Debt/equity ratio of 0.3–0.5 (multiple) with stable earnings.
• Dividend: Minimum of 30 per cent of profit after tax.
Outcomes
• SSC did not meet its return target, mainly due to high restructuring costs related to a major cost efficiency pro-gramme and thus did not distribute a dividend to the owner.
Sustainability targets
• All employees at SSC have been trained in, understand and comply with the ethical and environmental standards estab-lished by the company.
Outcomes
• The sustainability target is considered to have been met for 2015.
Public policy targets
• Science Services: 1. Capacity utilisation rate at the Esrange Space Center. 2. Quality index pertaining to the Esrange Space Center and related services.
• SSC: By means of a special stakeholder dialogue, the com-pany shall ensure that operations are designed to promote Swedish interests in the best way possible.
Outcomes
• The capacity utilisation rate at the Esrange Space Center was 110 per cent (target: minimum 70 per cent) during 2015.
• Measurements were carried out on three occasions in 2015 to assess quality of delivery. The result was an overall quality index of 94 per cent (target: minimum 80 per cent).
Chair: Monica Lingegård CEO: Stefan Gardefjord Directors and auditors elected for 2016/2017
Chair: Monica Lingegård was elected at the 2016 AGM, Hans Karlander stepped down Board: Fredrik Brunell, Anne Gynnerstedt, Hanna Lagercrantz, Lars Leijonborg, John Stuart, Håkan Syrén and Fredrik Wilhelmsson. Maria Palm was elected at the 2016 AGM. Åsa Hedin stepped down Employee reps: Mattias Abrahamsson, Ylva Houltz Alternate employee reps Lennart Jonasson, Alf Vaerneus Auditor: Camilla Samuelsson, for the companies in Sweden (PwC)
Fees paid to the chairman were SEK 246 (240) thousand. Fees paid to directors elected by the AGM amounted to SEK 123 (120) thousand. Fees are not paid to directors employed by the Government Offices.
State ownership (100%) 2015 2014
Income statement, SEKm
Net sales 989 842
Operating profit 5 31
Financial income 14 14
Profit/loss before tax 13 41
Net profit -4 34
– of which attributable to minority interest 0 0 Balance sheet, SEKm
Total assets 1,146 1,005
Non-current assets 751 658
Equity 495 503
– of which, minority interests 0 0
Net debt 188 72
Operating capital 684 575
Key indicators
Operating margin, % 0.5 3.6
Return on equity (average), % -0.7 7.1
Return on operating capital (average), % 0.7 6.2
Net debt/equity ratio, multiple 0.4 0.1
Equity/assets ratio, % 43.2 50.1
Gross investments, SEKm 150 158
Appropriation, SEKm 0 0
Dividend, SEKm 10 3
Average no. of employees 498 533
Employees, gender distribution (women/men), % 24/76 23/77 Management group, gender distribution (women/men), % 22/78 22/78 Board, gender distribution (women/men), % 44/561 33/67
Reported in compliance with GRI guidelines Yes
Externally assured GRI report Yes
Reporting in compliance with IFRS Yes