what we did in 2015 - annualreports.teliacompany.com · what we did in 2015 annual + sustainability...

WHAT WE DID IN 2015

ANNUAL + SUSTAINABILITY REPORT 2015

6

10

WHAT WE DID

HOW WE CREATE VALUE

THE YEAR IN BRIEF

VALUE CREATION

18WHAT WE PRIORITIZEOUR STRATEGY

12OUR MARKETS AND BRANDS

WHERE WE OPERATE

2

Annual and Sustainability Report 2015

Our Company

Contents

CONTENTS

3


Our Company

Contents

The audited annual and consolidated accounts comprise pages 20–46, 96–199 and 208.

The corporate gov-ernance statement examined by the auditors comprises pages 47–67.

The sustain-ability information reviewed by the auditors com-prises pages 8–11, 16–17, 68–95 and 200–207.

TeliaSonera AB (publ) • SE-106 63 Stockholm • Sweden Corporate Reg. No. 556103-4249 • Registered office: Stockholm

Telephone: +46 (0)8 504 550 00 • www.teliasonera.com

OUR COMPANYTeliaSonera in brief ................................................................. 4

The year in brief ..................................................................... 6

Comments by the CEO ......................................................... 8

How we create value ........................................................... 10

Where we operate ................................................................ 12

Our market position .............................................................. 14

Our stakeholders .................................................................. 16

Our strategy .......................................................................... 18

DIRECTORS’ REPORTBoard of Directors' Report .................................................. 20

Risks and uncertainties ....................................................... 41

CORPORATE GOVERNANCECorporate Governance Statement ...................................... 47

Board of Directors ............................................................... 64

Group Executive Management ............................................ 66

SUSTAINABILITY WORKSustainability in TeliaSonera ................................................ 68

Sustainability focus area summary ...................................... 71

All In for an inclusive world ................................................... 73

Anti-bribery and corruption ................................................. 76

Freedom of expression and privacy ..................................... 79

Customer privacy ................................................................. 82

Occupational health and safety ............................................ 84

Responsible procurement .................................................... 86

Environmental responsibility ................................................ 89

Children online ...................................................................... 91

Responsible exit from region Eurasia ................................... 93

Human rights impact assessment ........................................ 94

Sponsorships and donations ............................................... 95

FINANCIAL STATEMENTSConsolidated statements of comprehensive income .......... 96

Consolidated statements of financial positions .................. 97

Consolidated statements of cash flows .............................. 98

Consolidated statements of changes in equity ................... 99

Notes to consolidated financial statements ...................... 100

Parent company income statements ................................. 174

Parent company statements of comprehensive income ... 175

Parent company balance sheets ....................................... 176

Parent company cash flow statements ............................. 177

Parent company statements of changes in

shareholders' equity .......................................................... 178

Notes to parent company financial statements ................. 179

GRI INDEXGRI index ........................................................................... 200

OTHER INFORMATIONBoard of Directors’ and President’s certification ................ 208

Auditors’ Report ................................................................ 209

Auditors’ Limited Assurance Report on the

Sustainability Report .......................................................... 211

United Nations Global Compact principles ........................ 212

Five-year summary ............................................................ 213

Definitions .......................................................................... 215

Annual General Meeting 2016 ........................................... 217

Contact TeliaSonera .......................................................... 218


Our Company

TeliaSonera in brief

4

TELIASONERA IN BRIEF

TeliaSonera provides communication services helping millions of people to be connected and communicate, do business and be entertained. By doing that we fulfil our purpose of bringing the world closer – on the customer’s terms.

PURPOSE

VALUESTeliaSonera’s operations stretch around the globe. We con-nect businesses, individuals, families and communities via fixed and mobile communication solutions. Our services have a positive effect on social, economic and environmen-tal development and pave the way for an inclusive society.

People can stay in touch even when the geographical distance is far. In many of our markets, we are among the biggest employers and tax payers. We work with an ecosystem of new start-ups and major service providers. Together we provide the infrastructure for creativity, growth and change.

BRINGING THE WORLD CLOSER - ON THE CUSTOMER’S TERMS

DARECARESIMPLIFY

OUR BUSINESS

IN BRIEF


Our Company

5

515,437182.721,34220.0 2.82.61.6

Shareholders

SEK billion market cap

Employees

Million mobile subscriptions

Million fixed voice subscriptions

Million broadband subscriptions

Million TV subscriptions

Year-end figures for number of employees and subscriptions refer to continuing operations, i.e. the group excluding the former segment region Eurasia.

AT YEAR-END 2015


Our Company

The year in brief

2015 - AN EVENTFUL YEAR WITH MANY CHANGES

The Tele2 Norway acquisition was approved by

the authorities and our ambition is to provide 98

percent population coverage for 4G in 2016.

A Speak-up Line is available around the clock

in 22 languages.

TeliaSonera and Arthur D. Little published

a report on internet of things (IoT), showing a rapid

growth in the Nordics. Advancements in connected cars, smart homes and digital health are expected to drive

market growth for IoT.

After the earthquakes in

Nepal, we made a USD 1 million donation to the Prime Minister Disaster Relief

Fund to help rebuild the country. In addition, Ncell pledged USD 10 million over several years for the same

reason.

TeliaSonera and Spotify expanded its innovation

partnership. As part of the boosted co-operation,

we made an equity investment of

USD 115 million.

Nearly 23,000 employees have completed the Code

of Conduct e-learning and virtually all,

4,800 employees in Eurasia, have participated in

face-to-face anti-corruption training.

6

2015 was a year of tough challenges and crucial decisions about our future direction, and we also made some exciting new investments. We have taken important steps to achieve our vision to become a New Generation Telco.


Our Company

The year in brief

We announced that a process had been initiated in order to reduce the presence

in region Eurasia and over time fully leave.

Our Lithuanian subsidiaries – the fixed line operator TEO and the mobile operator Omnitel – joined forces, strengthening

our core business in the Nordics and Baltics.

Johan Dennelind publicly endorsed the launch of the new United Nations Global Goals and all subsidiaries

helped making them known to our customers across our

footprint.

We published a Sustainability update

January – June, including law enforcement disclosure report statistics, which were

assured by the auditors.

We agreed to sell our stake in the Nepalese operator

Ncell to Axiata, one of Asia’s largest telecom operators. We will also dissolve the

economic interests in the local ownership. The

transactions are conditional on each other.

Every three to four minutes around the clock, one Swedish

home is connected to Telia fiber.

86,569 17,814 1.97 9.3

25,281

29.2

9,532

9,362 3.00

16,550 8.9

1.53Net debt/EBITDA excluding non-recurring items (multiple, rolling 12 months)Proposed dividend (SEK)

Net sales (SEK million)

Financial overview

CONTINUING OPERATIONS CONTINUING AND DISCONTINUED OPERATIONS

Financial key ratios

Operating income excluding non-recurring items

(SEK million) Earnings per share (SEK)Return on equity (%, rolling 12 months)

EBITDA excluding non- recurring items (SEK million)

EBITDA margin (%)

Net income (SEK million)

Net income of which attribut-able to owners of the parent company (SEK million)

Free cash flow (SEK million)Return on capital employed

(%, rolling 12 months)

7

Financial overview

WE DON’T WANT TO BE SOMETHING ELSE. WE WANT TO BE SOMETHING MORE

8


Our Company

Comments by the CEO

Dear shareholders and TeliaSonera followers. The only thing we know for sure about the future is that it will be different from now and the past and that the rate of development is unlikely to slow down. Those looking back with nostalgia will be outrun by those who have their eyes on the horizon.

We at TeliaSonera witness daily how new players and services challenge our previous core products, whose margins are shrinking. To continue to hang on to a shrink-ing source of revenues is not an option for us, as we want to be an attractive alternative for customers, employees and shareholders. Growth requires new thinking, courage and a will to change.

We don’t want to be something else. We want to be something more. TeliaSonera has only just set out on the journey to become a new generation telco. In short, this means utilizing the strength of our networks and existing services for expanding and deepening our customer offer-ing through innovation and cooperation.

Our business customers will have a closer relationship with us, when their systems and processes are integrated with ours. Consumers expect to have access to a buzzing ecosystem of world-leading services and new pioneering solutions - that can come - directly from us.

Today, we already have a great variety of communication platforms, and the customers can easily test and switch to new technologies and services. We must have a keen ear to understand what the customers want in the future, but we must also provide services they do not even know they need.

We have every possibility of succeeding in the expan-sion, and we have already seen how innovative companies of all sizes turn to us for cooperation. During the past year, we have been able to introduce new solutions for various things, from audio books to connected cars. Our coopera-tion with Spotify has been so rewarding that we decided to deepen the relationship and become owners.

IMPROVED COMPETITIVENESSTeliaSonera’s transformation is not just about adding but also about removing. We must review our efficiency. Old technology and old systems require lots of resources and cannot provide modern and future-proof services for our

customers. We still have a lot of streamlining to do, but we aim for less manual work and lower costs, which will improve our customer experience and competitiveness.

The transition from old to new technology is very much customer driven. Every day we help our customers to switch from old to new services, and the demand for fiber connections is enormous. During the year, Telia Sweden connected 150,000 Swedish households, which means a new connection every three to four minutes, every day, around the clock.

The traffic in our networks is no longer characterized by calls and text messages. Today the traffic is dominated by TV and films, which set considerably higher requirements for the network capacity and the customer’s access. There is no sign that the pace will slow down. On the contrary, the number of connected devices is expected to explode. This will set high requirements for continued investments during the next few years.

LEAVING REGION EURASIA RESPONSIBLYThe Board of Directors’ decision to dispose the operations in region Eurasia will transform TeliaSonera. On the one hand, the margins in the region have been high, and histor-ically the growth has been fast. On the other hand, it has been problematic in many ways to operate in the region. On some of the markets, we have unknown co-owners, and it is difficult to repatriate cash. This and other chal-lenges in the region have required our attention and lots of resources. The decision to leave has given and will give us focus, strength and energy to develop our operations in the Nordic and Baltic countries, where 80 percent of our net sales comes from.

We have made progress in finding new owners for our operations in the region: we have, for example, been able to announce the sale of our subsidiary in Nepal. When we leave these markets and say goodbye to our good and competent employees, we must do it as carefully and responsibly as possible. We want to hand over well-man-aged operations with ambitious sustainability efforts and satisfied customers.

“As a small part of our transformation, we have given TeliaSonera a light facelift with an updated logo and a fresher graphic identity. I hope you like what you see.”

9


Our Company

Comments by the CEO

OPTIMISM AND BELIEF IN THE FUTUREI am convinced that part of the solution to the biggest so-cial problems of our time can be found in digital technolo-gy and telecommunications. By using modern technology, we can provide good and cost-effective care for a growing and aging population. There is enormous potential in online education and teaching aids. Our services will be a central infrastructure for people, companies and societies for a long time to come.

In our corner of the world, we have a long tradition of innovation desire and development optimism. Likewise TeliaSonera has a proud history of breaking new ground and showing the way, and we will continue on this path.

A thank you to our shareholders large and small for believing in what we do.

Stockholm, March 10, 2016

Johan DennelindPresident and CEO

THE PAST YEARThanks to great efforts from our employees during the year we are well on track to shape TeliaSonera for the future. A solid foundation is now in place and I am pleased that our core markets continued to improve in the fourth quarter at the same time as we started to execute our decision to reduce our presence in Eurasia. Following the decision, region Eurasia is now reported as discontinued opera-tions and results have also been impacted by non-cash write-downs.

Based on our good cash flow in the year and the solid financial position, the board proposes a maintained divi-dend of SEK 3.00 per share for the fiscal year 2015, which is in line with our stated ambition.

RESOURCES WE NEED TO DO BUSINESS

OUR BUSINESS

HOW WE CREATE VALUE

Financial capital● Debt and equity

Manufactured capital● Physical network infra-

structure, offices, retail space and ICT devices

Intellectual capital● Telecom licenses,

frequency permits and other intellectual property rights

Human capital● People with the right skills

from across the globe

Social and relationship capital● Trust in our brand from

our key stakeholders● Strategic partnerships

e .g. Spotify

Natural capital● Natural resources for

network equipment and customer devices

● Energy from renew-able and non-renewable sources

PurposeBringing the world closer – on the customer's terms

Strategy and resource allocationEnhance our core markets in the Nordics and Baltics and explore op-portunities close to the core.To enhance that we will:• create value through superior net-

work connectivity. We will secure the transition from voice to data through future proof network ac-cess to end customers

• increase customer loyalty through convergence, by creating a seam-less customer experience across technologies, services and chan-nels

• ensure competitive operations, by simplifying operations and trans-form legacy to create agility and cost efficiency

To explore adjacent opportunities we will:• invest in areas that complement

and strengthen the core business as internet of things, e-healthcare, financial services and media

Business activitiesTeliaSonera provides communication services helping millions of people to be connected and communicate, do business and be entertained. By doing that we fulfil our purpose of bringing the world closer – on the customer´s terms.

10

Our Company

Annual and Sustainability Report 2015How we create value

WHAT WE CREATE SOCIAL VALUE CREATED

Financial capital● Total earnings per share

SEK 1.97● Total paid taxes SEK 3,166

million

Manufactured capital● Products, services and

subscriptions to con-sumers and companies around the world

Intellectual capital● Business processes, pro-

duct portfolio and patents

Human capital● 21,342 employees

Social and relationship capital● 515,437

shareholders

Natural capital● 329,500 tons green house

gas emissions● 125,000 mobile devices

collected

To the society● Enabling smarter living, trave-

ling, healthcare and education as well as disaster relief

● Direct tax payments supporting social welfare

To the environment● Enabling reduction of green

house gas emissions ● Increasing resource efficiency● Enabling a sharing economy

To the economy● Enabling increased business

innovation and productivity driving GDP growth

● Direct and indirect job creation

E

S

E

11


Our Company

How we create value

12


Our Company

Where we operate

SwedenDenmark

Latvia

Norway

Lithuania

Finland

EstoniaSpain

WHERE WE OPERATE

TeliaSonera has its roots in Sweden and Finland. Nowadays we stand firmly in all the Nordic and Baltic countries. During the year, the Board of Directors announced the decision to reduce our presence in region Eurasia step by step, enabling us to fully focus on our core markets. Our backbone fiber runs around the world and is the second largest in the world and Cygate is a leading provider of integrated solutions to business customers in the Nordics.

13


Our Company

Where we operate

Azerbaijan

Uzbekistan

Georgia

TajikistanMoldova

Nepal

Kazakhstan

Mobile

Fixed voice

Broadband

TV

OUR MARKET POSITION

14


Our Company

Our market position

1 Ownership is defined as direct and indirect owner-ship, i.e. effective ownership.

2 Consolidated share includes commitments to acquire shares from holders of non-controlling interests.

3 TeliaSonera’s market share estimate is based on the number of subscriptions.

4 TeliaSonera directly owns 49 percent of LMT and controls the company through shareholder agree-ments. In addition, TeliaSonera indirectly holds an 11.3 percent share of the company.

Subsidiaries

Country TrademarkOwnership1

%Consolidated share2

%

Sweden Telia, Halebop 100 100

Finland Sonera, TeleFinland 100 100

Norway Telia, Chess, MyCall, OneCall 100 100

Denmark Telia, Call me, DLG Tele 100 100

Lithuania Omnitel, Ezys, Teo 100 / 88.2 100 / 88.2

Latvia Lmt Okarte, Amigo 60.34 60.34

Estonia Telia, Diil 100 100

Spain Yoigo 76.6 100

Kazakhstan Kcell, Activ 61.9 61.9

Azerbaijan Azercell 38.1 69.5

Uzbekistan Ucell 94.0 100

Tajikistan Tcell 60.0 60.0

Georgia Geocell 74.3 74.3

Moldova Moldcell 74.3 74.3

Nepal Ncell 60.4 80.4

Associated companies

Country TrademarkOwnership1

%Consolidated share2

%

Latvia Lattelecom 49.0 49.0

Russia MegaFon 25.2 26.2

Turkey Turkcell 38.0 38.0

15


Our Company

MOBILE FIXED VOICE BROADBAND TV

Country

Market share3

%

Market position

#

Market share3

%

Market position

#

Market share3

%

Market position

#

Market share3

%

Market position

#

Sweden 37 1 57 1 39 1 16 3

Finland 33 2 24 2 31 2 22 2

Norway 40 2 – – – – – –

Denmark 21 3 8 3 5 5 <1 >5

Lithuania 32 2 91 1 46 1 28 1

Latvia 42 1 – – – – – –

Estonia 42 1 82 1 58 1 34 2

Spain 7 4 – – – – – –

Kazakhstan 43 1 – – – – – –

Azerbaijan 48 1 – – – – – –

Uzbekistan 41 2 – – – – – –

Tajikistan 37 1 – – – – – –

Georgia 35 2 – – – – – –

Moldova 29 2 – – – – – –

Nepal 57 1 – – – – – –

Associated companies

MOBILE FIXED VOICE BROADBAND TV

Country

Market share3

%

Market position

#

Market share3

%

Market position

#

Market share3

%

Market position

#

Market share3

%

Market position

#

Latvia – – 94 1 55 1 35 1

Russia 35 2 – – – – – –

Turkey 49 1 – – – – – –

Our market position

Subsidiaries

OUR STAKEHOLDERS

CONSUMERS

How we engage• Stores and other sales

channels (O)• Customer service (O)• Social media (O)• Local websites (O)• Customer surveys (M)

Key topics and concerns• Network quality and coverage• Valuing the customer – taking

care of both new and loyal customers

• "Reachability" and easy to deal with

• Value for money – pricing, data offerings

• Keeping our promise on service and delivery

• Customer privacy and use of personal data

Our response• Continued roll-out of 4G and

fiber• Increased focus on NPS, add-

ing it as group strategic KPI• Action plans to identify and cor-

rect where we fail the customer promise

• New services such as OTT bundling, family plans and “roam like home”

• Simplifying the offering, reduc-ing the number of price plans and subscription types

BUSINESS CUSTOMERS

How we engage• Stores and other sales

channels (O)• Account manager dialog (M)• Seminars and events (M)• Customer surveys (M)

Key topics and concerns• Network quality and coverage• Valuing the customer - taking

care of both new and loyal customers

• Becoming an ICT partner• End-to-end personal customer

support• Understanding the customer's

needs to help them develop their business

• TeliaSonera as a transparent and sustainable business partner

• Customer privacy and use of personal data

Our response• Continued roll-out of 4G and

fiber• Increased focus on NPS, add-

ing it as group strategic KPI• Work towards becoming “as a

service” provider• Launched the Cloud market-

place• Launched personal advisor

concept – each business customer has a single point of contact

FINANCIERS

How we engage• Annual General Meeting (A)• Quarterly report conferences (M)• Investor meetings (M)

Key topics and concerns• Financial performance and

capital structure• Region Eurasia divestment

process and outcome• Possibilities and development

in regions Sweden and Europe• Strategy, including M&A• CAPEX levels• Cash flow generation• Ongoing corruption investiga-

tions • Market consolidation

Our response• Development of new strategy,

outlook and dividend policy• Cash flow improvement

initiatives• Transparency and cooperation

with authorities regarding cor-ruption investigations

• Transparency around region Eurasia divestment process

• Completed acquisition of Tele2 in Norway, network sharing with DNA in Finland and Telenor in Denmark

EMPLOYEES

How we engage• Purple Voice employee

survey (A)• Employer/worker councils (M)• Local management dialogue (O)• Local employee events (M)• Local and corporate intranet (O)

Key topics and concerns• Effects of leaving region Eurasia• Expectations on and from

employees regarding under-standing and building a New Generation Telco

• Competence shift – finding the right employees, support in redeployment and lay-offs

• Increasing customer focus• Collaboration between func-

tions

Our response• Mandatory action plans for

developing cross-functional cooperation

• Actions in all parts of the or-ganization to meet customers

• Region Eurasia: all employee events, Group Executive Management visits, actions to protect employees who have spoken up

• Further communicating on what New Generation Telco means, and what is expected of employees and leaders

€

16


Our Company

Our stakeholders

Engaging with key stakeholders – that impact or are impacted by our business, directly and indirectly – is imperative for us to gain insight in how to best navigate our business long-term. The feedback we receive from the stakeholders informs our thinking about business priorities and also our strategy formulation.

STAKEHOLDER ENGAGEMENT 2015

For more information on stakeholder opinions of our sustainability work, see section "Sustainability in TeliaSonera."

FrequencyA = AnnualM = MultipleO = Ongoing

SUPPLIERS

How we engage• Contract engagements (O)• Strategic direction meetings (O)• Supplier audits (M)

Key topics and concerns• Supplier code of conduct un-

derstanding and commitments, anti-bribery and corruption requirements

• The technology transformation and its impacts on suppliers

• Becoming a New Generation Telco, strategic development together with suppliers

Our response• Strengthening the procurement

organization's sustainability competence and resources

• 201 on-site supplier sustain-ability audits

• Putting in place procurement resources in subsidiaries

• Increased resources to enable the technology transformation

• New ways of working in procurement to support new product and service areas

CIVIL SOCIETY

How we engage• ICT sector organizations (O)• Seminars and conferences (M)• Corporate website (O)

Key topics and concerns• Human rights, freedom of

expression and privacy • Illicit file-sharing, protecting

copyright• Surveillance and other meas-

ures related to terrorism• Business ethics and anti-cor-

ruption in region Eurasia and in telecommunications

• Protection of children online

Our response• Expanded reporting on law en-

forcement statistics and legisla-tion regarding direct access

• Active work in the Telecom-munications Industry Dialogue on Freedom of Expression and Privacy

• Firm opinion that TeliaSonera can or shall not decide what is illegal or not on the internet

• Defining a "point of challenge" for unconventional authority requests with potentially seri-ous impacts on users' freedom of expression and privacy

• Participation in several anti-corruption conferences

• Initiated the Telecommunica-tions Integrity Initiative together with Transparency International

AND REGULATORS

How we engage• National policy makers and

regulators (O)• European Union bodies (O)• Formal written consultations

(M)• Trade associations (O)

Key topics and concerns• Unpredictable EU regulation • Over-regulating of the telecom-

munications industry• Short term and long term spec-

trum allocation

Our response• Engagement on national

and EU level as an individual company and via trade as-sociations to improve legislative predictability

• External stakeholder engage-ment for awareness on spectrum allocation and new legislation

POLICY-MAKERS

§

17


Our Company

Our stakeholders

TeliaSonera

Business customers

Consumers

Parliaments

Authorities

Special Interest Groups

Unions

Non- GovernmentalOrganizations

Inter-Governmental Organizations

Services

ITProducts

Field services Terminals and

accessories

Network equipment

Analysts

Private investors

Banks

Institutional equity

investors

Credit investors

Rating agencies

Families

Specialists

Managers

Financiers

EmployeesCustomers

Suppliers

Community

OUR KEY STAKEHOLDER GROUPS

OUR STRATEGY

The TeliaSonera purpose of Bringing the world closer — on the customer’s terms expresses focus on our customers and on societal development. It guides our transformation towards a New Generation Telco where applications and customer solutions will have an impor-tant complementary role to traditional network services. An increas-ingly wide ecosystem enables us to offer solutions that answer to customer needs and leverage the powerful and transformative positive effect that ICT and telecommunications have on social, environmental and economic development.

TELIASONERA TO BECOME A NEW GENERATION TELCO

18


Our Company

Our strategy

System integrators

Platform players

De-coupled from the network

Network-centric

Network- based

services

Applica-tions and integratedservices

Financial institutions

Arbitrage players

Telco space

TeliaSonera today TeliaSonera New Generation Telco

Mobile Virtual

Network Operators

Our customers are using our services in new ways. Demand for our traditional main products such as voice services is declining and their importance is decreas-ing. At the same time demand for data through fiber and

We will continue improving our core business, to be the natural choice for those who want well-functioning and hassle-free connectivity whether they are at work, at home or on the go. To continue offering superior connectivity we must proceed to invest in our networks.• In Sweden for instance, we are leading the fiber roll-out

and we are the leading 4G provider in the Baltics.

Customers use our different services together or as a com-plement to one another. We aim to give them a complete service, based on their individual needs. • An example of executing on this strategy securing con-

verged fixed-mobile offerings in Lithuania is the merger between TEO and Omnitel.

We intend to offer total solutions by combining the best from IT with the best from telecom fitting the customer’s unique prerequisites. Flexibility and simplicity will make people choose us, stay with us and recommend us to others.

ENHANCE THE CORE

EXPLORE OPPORTUNITIES CLOSE TO THE CORE

PRIORITIES• One step in this convergence between network and

IT applications during the year was the launch of an application marketplace towards B2B-SME in several countries.

To stay competitive, we have launched a transformation program in Sweden and Finland with the purpose of sim-plifying operations and transform legacy to create agility and cost efficiency.

The more sophisticated consumers’ demands and the need to play a stronger role in society drive us to innovate by exploring new opportunities and venture into new ser-vices close to our core business. Streamed TV and music, financial services, e-healthcare solutions and internet of things are examples of areas where TeliaSonera widens the scope of its business and create growth. The equity based partnership with Spotify illustrates the exploration during the year. The healthcare initiative is a case in point of our own innovation creating business and contributing to a healthier and safer society.

smartphones has skyrocketed, a development that will be beneficial for us. Applications and integration of services take an increasingly larger share of our value creation for businesses, consumers and society.

19


Our Company

Our strategy

Connectivity

Internet of

things (IoT)

Develop the core business in the Nordics and Baltics

Invest in areas that complement and/or strengthen the core business

Convergence

E-healthcare Media

Competitive

Financial

operations

services

#1

what we did in 2015 - annualreports.teliacompany.com · what we did in 2015 annual + sustainability...

Documents