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
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 INVESTMENT PLAN INV
ESTMENTS OUTCOME 2015 Acquisition and development of new investments ATM equipment Radar equipment Communication equipment Radio equipment Buildings IT Commercial investments Other Sum costs for acquisition and development Of which investments in fixed assets Financing Own resources Sum financing of acquisition and development Maintenance of existing investments ATM equipment Radar equipment Communication equipment Radio equipment Buildings IT Commercial investments Other Sum costs for maintenance Of which investments in fixed assets Financing Own resources Sum financing of acquisition and development *Excluding acquistion of shares in associated companies 25 MSEK. LFV conducts consecutive upgrades of technology systems as well as working methods. Maintenance and replacement investments are conducted to maintain aviation safety, secure capacity and regularity and to improve operation efficiency. The priorities are largely controlled by requirements on system development trough EU, as well as the need to successively develop and renew the infrastructure. Furthermore, an increased interest in remote air traffic services has resulted in investments to meet the demands of the customers and the market. During the year, new and extensive investments have been carried out, mainly in ATM, radar and communication equipment. The investments are due to new regulation requirements on the infraLFV ANNUAL REPORT 2017 34,299 11,574 9,573 0 1,449 4,501 473 0 61,868 61,868 61,868 61,868 11,031 3 17,932 3,923 2,401 4,220 0 0 39,509 39,509 39,509 39,509 OUTCOME 2016 PLAN 2017 45,695 1,453 1,248 0 15,837 6,245 17,172 0 87,649* 87,649* 87,649 87,649 11,592 5,413 14,750 6,476 1,323 9 8,968 0 48,530 48,530 48,530 48,530 51,800 1,000 0 5,000 0 0 117,500 0 175,300 175,300 175,300 175,300 0 32,000 5,000 13,000 0 0 0 0 50,000 50,000 50,000 50,000 OUTCOME 2017 62,078 21,231 34,593 0 3,454 3,377 28,543 0 153,277 153,277 153,277 153,277 4,637 28,007 29,647 10,369 756 0 0 0 73,415 73,415 73,415 73,415 Tower Center), in Sundsvall commenced operations for the world's first remotely controlled airport in 2015 and more airports have chosen to join. The center in Sundsvall has been expanded in 2016/17 for increased capacity. A continued development of the system has been made for air traffic controllers to manage several airports simultaneously. During fall 2017 the building of a new RTC center commenced at Stockholm Arlanda, to which four of Swedavia's airports will be connected in the first step. All together the investment needs have increased continuously during the last few years. In 2017 the total investment outcome corresponds to plan. LFV carries out concurrent priorities and adjusts the investment plan in relation to operational changes and needs. This has led to significant changes in the investment plan for 2017. Compared to plan, the infrastructure investments in radar and communication equipment etc. have increased, while the commercial investments are significantly lower. This is primarily due to a lowered pace in the expansion of remote air traffic services, thus, this has been shifted forward in time, compared to plan. Investments in communication equipment have been prioritised and brought forward due to aging infrastructure and increased requirements on robustness and continuity. From 1 January 2017, work performed structure, but also the need to increase the capacity to meet the growing traffic volumes in the Swedish airspace, as well as to ensure continuity in the operation. The investments in radar equipment is partly a result of the need to invest in new technology, due to regulations, but mainly to meet increased demands for monitoring the airspace. One reason for this is the growing number of unidentified aircrafts over international water in the southern parts of the Swedish airspace. There are other needs and requirements as well for investments in radar communication to maintain a high aviation safety and capacity. For several years LFV has invested in, and developed infrastructure within remote air traffic services, so called remote towers (RTS, Remote Tower Services). The control center (RTC, Remote by the company for its own use are capitalised for investment projects regarding intangible and tangible fixed assets. This makes a difference compared to previous year, when work performed by the company for its own use were counted as running expenses. Due to increased investments in infrastructure due to new regulations, increased demands on capacity, increased societal requirements, and the continued ventures in remote air traffic services, the investments are assessed to increase during the next couple of years as well. Certain rearrangements within the framework may be done. New investments in ATM and radar equipment, and commercial investments are expected, as well as investments in maintaining radar and communication equipment. 55
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