C19. Equity and earnings per share

Share capital

According to the articles of association of TeliaSonera AB, the authorized share capital shall amount to no less than SEK 8 billion and no more than SEK 32 billion. All issued shares have been paid in full and carry equal rights to vote and participate in the assets of the company. Since December 31, 2005, the issued share capital changed as follows.

 

Issued share
capital (SEK)

Number of
issued shares

Quotient value
(SEK/share)

Issued share capital, December 31, 2005

14,960,742,621

4,675,232,069

3.20

Cancellation of shares repurchased in 2005, September 6, 2006

-591,279,539

-184,774,856

3.20

Issued share capital, December 31, 2006

14,369,463,082

4,490,457,213

3.20

Issued share capital, December 31, 2007, 2008 and 2009

14,369,463,082

4,490,457,213

3.20

Issued share capital, December 31, 2010

14,369,463,082

4,490,457,213

3.20

Cancellation of shares repurchased in 2011, July 19, 2011

-513,191,783

-160,372,432

3.20

Issued share capital, December 31, 2011, 2012, 2013 and 2014

13,856,271,299

4,330,084,781

3.20

Issued share capital, December 31, 2015

13,856,271,299

4,330,084,781

3.20

Treasury shares

On April 28, 2015, TeliaSonera AB acquired 270,783 own shares at an average price of SEK 51.7908 to cover commitments under the “Long term Incentive Program 2012/2015.” During the second quarter 2015, TeliaSonera distributed 266,195 shares to the incentive program participants. As of December 31, 2015 4,588 TeliaSonera shares were held by the company itself and the total numbers of issued and outstanding shares were 4,330,084,781 and 4,330,080,193, respectively.

In April 2014, TeliaSonera AB acquired 124,541 shares at an average price of SEK 46.0244. The shares were distributed to the participants in the “Long Term Incentive Program 2011/2014.” As of December 31, 2014, no TeliaSonera shares were held by the company itself or by its subsidiaries.

Subsidiaries in continuing operations with material non-controlling interests

Summarized financial information on subsidiaries in continuing operations with material non-controlling interests (NCI) is presented below. The amounts disclosed for each subsidiary are based on those included in the consolidated financial statements before inter-company eliminations and only the net asset in which the NCI has a share. Other comprehensive income (OCI ) only comprises exchange rate differences arising on translation to SEK.

The NCI in TEO LT, AB is 11.8 percent.

The group holds 49 percent of the shares in Latvijas Mobilais Telefons SIA (LMT). However, according to shareholders’ agreements TeliaSonera has the board majority in LMT and the company is therefore regarded as a subsidiary. In addition, LMT is held partly by the associated company Lattelecom SIA which decreases NCI to 39.7 percent.

Based on put options granted on 23.4 percent of the share capital in Xfera Móviles S.A. (Yoigo) in Spain, the entitiy is accounting-wise treated as a wholly-owned subsidiary of TeliaSonera, see section “Put options and contingent consideration” in Note C22 “Other provisions.”

Former segment region Eurasia is classified as held for sale and discontinued operations as of December 31, 2015. For information regarding subsidiaries in discontinued operations with material non-controlling interests, see Note C34 “Discontinued operations and assets classified as held for sale.”

Dividends paid to NCIs are disclosed in Note C30 “Cash flow information.” See also Risks and uncertainties, section “Shareholder matters in partly-owned subsidiaries.”

Dec 31, 2015
SEK in millions,
except percentages

   

TEO LT, AB,
Lithuania

Latvijas Mobilais
Telefons SIA, Latvia

Other subsidiaries,
continuing operations

Discontinued
operations

Total

Assets

             

Non-current assets

   

2,157

1,594

     

Current assets

   

445

559

     

Liabilities

             

Non-current liabilities

   

-85

-637

     

Current liabilities

   

-391

-438

     

Net assets

   

2,125

1,077

     

NCI percentage

   

11.8

39.7

     

Carrying amount of NCI

   

252

428

136

3,502

4,318

Net sales

   

1,914

1,127

     

Net income

   

320

101

     

Net income allocated to NCI

   

38

40

92

1,484

1,654

               

Cash flows from operating activities

   

601

323

     

Free cash flow

   

284

41

     

Dec 31, 2014
SEK in millions,
except percentages

   

TEO LT, AB,
Lithuania

Latvijas Mobilais
Telefons SIA, Latvia

Other subsidiaries,
continuing operations

Discontinued
operations

Total

Assets

             

Non-current assets

   

2,239

1,665

     

Current assets

   

445

470

     

Liabilities

             

Non-current liabilities

   

-85

-95

     

Current liabilities

   

-346

-834

     

Net assets

   

2,252

1,206

     

NCI percentage

   

11.8

39.7

     

Carrying amount of NCI

   

267

479

150

4,085

4,981

Net sales

   

1,841

1,206

     

Net income

   

346

178

     

Net income allocated to NCI

   

41

71

58

927

1,097

               

Cash flows from operating activities

   

318

497

     

Free cash flow

   

35

202

     

Earnings per share and dividends

 

Jan–Dec 2015

Jan–Dec 2014

Net income attributable to owners of the parent (SEK million)

8,551

14,502

Average number of outstanding shares, basic and diluted (thousands)

4,330,082

4,330,085

Earnings per outstanding share, basic and diluted (SEK)

1.97

3.35

Ordinary cash dividend (for 2015 as proposed by the Board of Directors)

   

– Per share (SEK)

3.00

3.00

– Total (SEK million)

12,990

12,990

 

© TeliaSonera 2015
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