ANNUAL REPORT 2017 Director-General's Statement
ANNUAL REPORT 2017 LFV is with you on the travel
ANNUAL REPORT 2017 This is LFV
ANNUAL REPORT 2017 The Year in Brief
ANNUAL REPORT 2017 Operating Environment and Marke
t
ANNUAL REPORT 2017 Strategy and Objectives
STRATEGIES AND OBJECTIVES FOCUS ON THE FUTURE Sin
ce 2014, LFV has pursued a comprehensive change process to ensure long-term, competitive, efficient and attractive operations. Every year, the objectives, strategies, and activities are updated to ensure LFV’s continued ability to meet the customers', owners’, and stakeholders’ requirements and expectations. LFV operates in a changing industry. The operating environment is changing faster and faster, and LFV’s prerequisites are affected by many factors. It can be everything from the security policy situation, new operations like drones, digitalisation, regulations and legal requirements, to the customers' expectations, and the development on the international market. This put great demands on the will to change, as well as the ability to adapt the operations to new prerequisites. The renewed planning of the total defense has entailed education activities for all employees at LFV during 2017, as well as the development of action plans to be implemented in 2018–2020. Markets are opened for competition all over Europe, and LFV’s domestic market as in part already deregulated. Air traffic navigation management providers in other countries are starting to compete over contracts and procurements. It is a natural development in the industry as a whole to ensure financing and survival. Large changes implies challenges and opportunities for LFV. To meet the national and international competition, requirements of cost reductions, efficiency, and yield requirements, LFV must keep up the change process, as well as the streamlining and cost reduction. LFV ANNUAL REPORT 2017 LFV’s journey of change In 2014, LFV’s change process, Position 2019, commenced. The objective is for LFV to be business-like and competitive in all areas, and driving the market forward with new technology. To achieve the financial objectives is part of the work. To simultaneously make efforts to develop LFV’s corporate culture and increase the commercial approach internally, with a focus on customer benefit. It is important, since all employees in common, contribute to the impression of LFV. LFV is to be a reliable and efficient provider and collaboration partner, characterised by aviation safety, sustainability, and a commercial approach, with innovative solutions. LFV’s business plan 2017–2021 All four perspectives, Customer and sales, Culture and employees, Operations and deliveries, and Finance, have a number of main objectives with associated sub-goals and activities. Every unit has its own operational plan supporting the main objectives of the business plan. LFV’s managers and specialists have individual target contracts. Focus areas 2017 In 2017, LFV has three focus areas to meet the challenges during the business plan period. Each focus area consists of 13 investments, projects, and activities which may vary over the years, but in total is to contribute to LFV achieving the objectives. Corporate culture • Commercial approach • Engagement and understanding • Simplification and streamlining • Leadership • Performance International growth • Focus on customer development • Product development and packaging of new and existing products • Strengthened delivery ability, and supply of competence within special product areas • Increased market knowledge regarding regulation changes, and technology development Competitiveness and performance programme • Efficient ways of work • Efficiency measures • Innovation • Collaborations
ANNUAL REPORT 2017 Customer Focus
ANNUAL REPORT 2017 Environment
ANNUAL REPORT 2017 Aviation Safety
ANNUAL REPORT 2017 Innovation
ANNUAL REPORT 2017 Cooperation and Partnerships
ANNUAL REPORT 2017 Employees
ANNUAL REPORT 2017 Board of Director's Report
ANNUAL REPORT 2017 Income Statement, Comments on t
he Income Statement
ANNUAL REPORT 2017 Balance Sheet
ANNUAL REPORT 2017 Comments on the balance sheet a
nd funds statements
ANNUAL REPORT 2017 Financing
ANNUAL REPORT 2017 Accounting and Valuation Princi
ples
ANNUAL REPORT 2017 Notes
ANNUAL REPORT 2017 Investments
ANNUAL REPORT 2017 Reporting in Accordance with Pe
rformance Plan
ANNUAL REPORT 2017 Reporting in Accordance with Ap
propriation Directions
ANNUAL REPORT 2017 Risk Management
ANNUAL REPORT 2017 Dividend Proposal
ANNUAL REPORT 2017 Audit Report
ANNUAL REPORT 2017 Board of Directors
ANNUAL REPORT 2017 Group Management
ANNUAL REPORT 2017 Five Years at a Glance
ANNUAL REPORT 2017 Abbreviations and Explanations