Press release
02 July 2010
Ministry of Enterprise, Energy and Communications
Administration report for state-owned enterprises for 2009
The Government today submitted its written communication on state-owned enterprises to the Riksdag. In it, the Government reports on the state management and activities of state-owned enterprises. The written communication includes the 2009 administration report for state-owned enterprises.
On the instructions of the Riksdag, the Government manages 57 enterprises that are jointly valued at approximately SEK 620 billion (500 billion the previous year). In 2009, state-owned enterprises generated a joint turnover of SEK 352.7 billion (312.5 billion). The profit after tax totalled SEK 34.7 billion (43.4 billion). Dividends totalled SEK 20.8 billion (21.8 billion).
In the administration report the Government reports on the work carried out during the electoral period of going through the portfolio of state-owned enterprises to examine the grounds for continued state ownership and of going through the various focuses and mandates of the enterprises. This work has resulted, among other things, in the sale of Vin & Sprit and Vasakronan, the sale of the state's shares in OMX, a merger between the Swedish Post Office and the Danish Post Office, and newer, clearer mandates for Sveaskog and Vattenfall. Moreover, the Government has carried out a thorough restructuring of the National Corporation of Swedish Pharmacies (Apoteket AB ) which has resulted in the sale of pharmacies, more actors and greater competition.
During the current electoral period, the Government has sold shares in state-owned enterprises to a total value of SEK 119.1 billion.
The administration report contains a follow-up of compliance with the Government's guidelines for terms of employment to check that total remuneration to senior management has been competitive but not market-leading'.
A special chapter contains a report on how state-owned enterprises have worked on issues concerning sustainable development and corporate social responsibility. Almost all state-owned enterprises, 94 per cent, now publish a sustainability report, in line with the GRI international guidelines; this is an improvement on 2006, when the figure was 14 per cent. Of the 100 largest enterprises on the Stockholm Stock Exchange, approximately 15 per cent present a sustainability report, according to GRI.
A summary shows that the Government's efforts to increase the proportion of women on governing boards have led to results; the proportion of women on the governing boards of state-owned enterprises continues to rise and the figure is now 49 per cent in wholly state-owned enterprises, compared to 21 per cent in stock exchange companies. The proportion of women who are chair of the board is also on the rise and is now at 34 per cent, compared to 3 per cent for stock exchange companies. There has been a drastic improvement compared to 2005, when the figure was 22 per cent.
The Government Offices' 2009 administration report for state-owned enterprises can be found (in Swedish) at: www.regeringen.se/publikationer
The state is a significant owner of enterprises in Sweden. The state company portfolio contains 57 wholly or partly owned enterprises, three of which are listed. The state has a major responsibility to be an active and professional owner. The Government's overall management objective is for the enterprises to create value and, where appropriate, to ensure that the expressed interests of society are met.
Contact
Frank NilssonPressekreterare hos Anna-Karin Hatt
Jenny Didong
Division for State Enterprise
+46 8 405 34 50
+46 70 295 02 44
