Notes to the balance sheet

Transkriptio

1 Notes to the balance sheet 4, ,094 7,498 3, , ,5 2, ,590-2, ,427 NON-CuRRENT ASSETS Intangible assets Intangible rights impairment losses as at 1 Jan Accumulated depreciation in decreases Depreciation for the period Accumulated depreciation and impairment losses as at 31 Dec Other long-term expenses impairment losses as at 1 Jan Accumulated depreciation in decreases Accumulated depreciation on transfers Depreciation for the period Accumulated depreciation and impairment losses as at 31 Dec Advance payments 340 4,137-2, , ,835-2, ,503 4,341 1, , , ,284 5,223 5, ,223 7,685-5, ,526 5,223-4,832-4, ,391-5, , , ,832 1,294 1, VVO Financial Statements 24

2 Tangible assets Land and water areas 224,751 8,608-8,072 3, , ,940 3,020-2,127 16, ,751 5, , ,391 5,331 5,382 Appreciations , ,835 5,331 5,382 Entry fees 23, ,537 25,159 22, ,507 Buildings and structures 2,010,730 57,653-3,3 70,195 2,135,179 1,943,322 42,809-5,601 30,200 2,010,730 53, , , , , ,392 1, , ,777-5,218 5,697 2,035 1,682,857 2,035 1,603,988 The difference between subsidiaries acquisition costs and the equity corresponding with the acquired share has been allocated to non-current assets. EUR 38.1 million (34.2) has been allocated to land areas. impairment losses as at 1 Jan Accumulated depreciation in decreases Accumulated depreciation on transfers Depreciation for the period impairment losses as at 31 Dec Appreciations The difference between subsidiaries acquisition costs and the equity corresponding with the acquired share has been allocated to non-current assets. EUR million (136.6) has been allocated to buildings. VVO Financial Statements

3 Machinery and equipment impairment losses as at 1 Jan Accumulated depreciation in decreases Accumulated depreciation on transfers Depreciation for the period impairment losses as at 31 Dec Other tangible assets impairment losses as at 1 Jan Accumulated depreciation in decreases Accumulated depreciation on transfers Depreciation for the period impairment losses as at 31 Dec Advance payments and acquisitions in progress 11, ,301 12, , ,983 2, ,315 2, ,205-9, ,075-10,522-9,766 1,322-1, , ,088-9, , ,683 1,778 2, , ,035 8,618 5, , , ,777-2, , ,841 3, ,1 56,610-4,019-79,442 63,347 52,293 73,172-2,567-32,698 90, ,035 2,035 A majority of the decreases in fixed assets of the parent company in were caused by business transfers. Appreciations Land and water areas Value 1 Jan / 31 Dec Buildings and structures Value 1 Jan / 31 Dec Value increases were recognised in the 1970s. The value increases made do not exceed the estimated market prices. VVO Financial Statements

4 75,871 Investments Shares in subsidiaries 75, ,043 56, ,9 75,871 Appreciations 2,119 77,0 2,119 77, ,114 Joint venture shares Other securities and shares Other receivables, advance payments 8,502 1, ,117 7,715 1, , ,117 8, , ,542 8, , , , ,542 8, , ,007 2,794 1,682 1,682 2,794 1,682 VVO Financial Statements 27-3,343

5 Domicile holding, % holding, % Subsidiaries Mummunkujan Pysäköinti Oy Tampere Katajapysäköinti Oy Tampere Hatanpäänhovin Pysäköinti Oy Tampere VVO-group plc Kiinteistö osakeyhtiö Pikkuhirvas Inari Kiinteistö Oy Vantaan Lauri Korpisen katu 6 Vantaa VVO Asumisoikeus Oy Helsinki VVO Asunnot Oy Helsinki VVO Kodit Oy Helsinki VVO Korkotukikiinteistöt Oy Helsinki VVO Palvelut Oy Helsinki VVO Rakennuttaja Oy Helsinki VVO Vuokra-asunnot Oy Helsinki VVO Vuokratalot Oy Helsinki VVO Kodit Oy As Oy Kuopion Havuketo Kuopio As Oy Turun Puistokatu 12 Turku As Oy Vantaan Junkkarinkaari 7 Vantaa As. Oy Heinolan Korvenkaarre Heinola As. Oy Hyvinkään Merino Hyvinkää As. Oy Hyvinkään Mohair Hyvinkää As. Oy Kuopion Kaarenkulma Kuopio As. Oy Malski 3 Lahti As. Oy Pihavaahtera Hollola AsOy Helsingin Vuorenpeikontie 5 Helsinki Asunto Oy Espoon Klariksenkallio Espoo Asunto Oy Espoon Matinniitty Espoo Asunto Oy Espoon Matinniitynkuja 7 Espoo Asunto Oy Espoon Soukanrinne Espoo Asunto Oy Espoon Suurpellon Puistokatu G Espoo Asunto Oy Espoon Suurpellon Puistokatu H Espoo Asunto Oy Espoon Vihreätikka Espoo Asunto Oy Helsingin Haapaniemenkatu 11 Helsinki Asunto Oy Helsingin Hopeatie 9 Helsinki Asunto Oy Helsingin Katariinankartano Helsinki Asunto Oy Helsingin Katariinankoski Helsinki Asunto Oy Helsingin Koskikartano Helsinki Asunto Oy Helsingin Maasälväntie 5 ja 9 Helsinki Asunto Oy Helsingin Marjatanportti Helsinki Asunto Oy Helsingin Plazankuja 5 Helsinki Asunto Oy Helsingin Posetiivari Helsinki Asunto Oy Helsingin Ratarinne Helsinki Asunto Oy Helsingin Risupadontie 6 Helsinki Asunto Oy Helsingin Tilketori 2 Helsinki Asunto Oy Helsingin Tuulastus Helsinki Asunto Oy Helsingin Tuulensuunkuja 3 Helsinki Asunto Oy Helsingin Valanportti Helsinki Asunto Oy Hilapellontie 2 b Helsinki Asunto Oy Hämeenlinnan Kajakulma Hämeenlinna Asunto Oy Hämeenlinnan Turuntie 38 Hämeenlinna Asunto Oy Hämeenlinnan Uusi-Jukola Hämeenlinna VVO Financial Statements 28

6 Domicile holding, % holding, % Asunto Oy Hämeentie 48 Helsinki Asunto Oy Joensuun Rantakylänkatu 17 Joensuu Asunto Oy Jyväskylän Harjunarkadi Jyväskylä Asunto Oy Jyväskylän Tellervonkatu 8 Jyväskylä Asunto Oy Kauniaisten Asematie 10 Kauniainen Asunto Oy Kauniaisten Asematie Kauniainen Asunto Oy Kauniaisten Bredantie 8 Kauniainen Asunto Oy Kauniaisten Thurmaninpuistotie 2 Kauniainen Asunto Oy Keravan Eerontie 3 Kerava Asunto Oy Keravan Palopolku 3 Kerava Asunto Oy Kivivuorenkuja 1 Vantaa Asunto Oy Kivivuorenkuja 3 Vantaa Asunto Oy Kuopion Sompatie 7 Kuopio Asunto Oy Kuopion Sompatie 9 Kuopio Asunto Oy Lahden Regattahovi Lahti Asunto Oy Lappeenrannan Gallerianpolku Lappeenranta Asunto Oy Lappeenrannan Upseeritie 12 Lappeenranta Asunto Oy Oulun Tervahanhi Oulu Asunto Oy Pirtinketosato Kuopio Asunto Oy Pohtolan Kynnys Tampere Asunto Oy Pohtolan Kytö Tampere Asunto Oy Pohtolan Pohja Tampere Asunto Oy Porin Kansankulma Pori Asunto Oy Rautamasuuni Oulu Asunto Oy Rientolanhovi Tampere Asunto Oy Riihimäen Mäkiraitti 17 Riihimäki Asunto Oy Rovaniemen Koskikatu 9 Rovaniemi Asunto Oy Rovaniemen Pohjolankatu 11 Rovaniemi Asunto Oy Rovaniemen Tukkivartio Rovaniemi Asunto Oy Salamankulma Turku Asunto Oy Tampereen Tuomiokirkonkatu 32 Tampere Asunto Oy Toppilan Tuulentie 2 Oulu Asunto Oy Tuiran Komuntalo Oulu Asunto Oy Turun Ketokaunokki Turku Asunto Oy Turun Niittyvilla Turku Asunto Oy Turun Vänrikinkatu 2 Turku Asunto Oy Vantaan Keikarinkuja 3 Vantaa Asunto Oy Vantaan Kilterinaukio 4 Vantaa Asunto Oy Vantaan Kilterinkaari 2 Vantaa Asunto Oy Vantaan Krassitie 8 Vantaa Asunto Oy Vantaan Neilikkapolku Vantaa Asunto Oy Vantaan Pyhtäänkorvenkuja 4 ja 6 Vantaa Asunto Oy Vantaan Tammistonvuori Vantaa Asunto Oy Verkkotie 3 Hämeenlinna Asunto Oy Vähäntuvantie 6 Helsinki Kiint. Oy Taivaskero 2 Vantaa Kiinteistö Oy Kavallinterassit Kauniainen Kiinteistö Oy Rappulanharju Salo Kiinteistö Oy Reki-Valko Järvenpää Kiinteistö Oy Saarensahra Tampere Kiinteistö Oy Satonkaarre Kaarina Kiinteistö Oy Siilinjärven Kirkkorinne Siilinjärvi Kiinteistö Oy Tuureporin Liiketalo Turku Kiinteistö Oy Vantaan Pyhtäänpolku Vantaa VVO Financial Statements 29

7 Domicile holding, % holding, % Kiinteistö Oy Vantaan Vilhelmiina Vantaa Kiinteistö Oy Vantaan Viola Vantaa Kiinteistö Oy Ylä-Malmintori Helsinki Kiinteistöosakeyhtiö Näsinlinnankatu 40 Tampere Volaria Oy Helsinki VVO Asunnot Oy Asunto Oy Espoon Klariksentie 2 Espoo Asunto Oy Espoon Piilipuuntie 11 Espoo Asunto Oy Espoon Piilipuuntie 7 Espoo Asunto Oy Espoon Piilipuuntie 9 Espoo Asunto Oy Helsingin Helminauha Helsinki Asunto Oy Helsingin Plyymi Helsinki Asunto Oy Helsingin Puuhka Helsinki Asunto Oy Helsingin Silkkinauha Helsinki Asunto Oy Helsingin Soittajantie 2 Helsinki Asunto Oy Helsingin Viuhka Helsinki Asunto Oy Kouvolan Viirikaari Kouvola Asunto Oy Kuopion Papinkuja 3 Kuopio Asunto Oy Kuopion Papinkuja 7 Kuopio Asunto Oy Päivöläntie 25 Helsinki Asunto Oy Turun Aurinkorinne Turku Asunto Oy Vantaan Kilterinmännikkö Vantaa Asunto Oy Vihdin Pajuniitty Vihti Kiinteistö Oy Espoon Lyhtykuja Espoo Kiinteistö Oy Lappeenrannan Koulukatu 1 Lappeenranta Kiinteistö Oy Loviisanlinna-Lovisaborg Fastighets Ab Loviisa Kiinteistö Oy Mannerheimintie 168 Helsinki Kiinteistö Oy Vantaan Kilterinrinne 6 Vantaa Kiinteistö Oy Vantaan Kilterinhovi Vantaa Kiinteistö Oy Vantaan Kilterinkartano Vantaa Kiinteistö Oy Vantaan Kilterinpiha Vantaa Kiinteistö Oy Vantaan Viktoria Vantaa VVO Vuokra-asunnot Oy Asunto Oy Helsingin Kauppakartanonkuja 3 Helsinki Asunto Oy Jyväskylän maalaiskunnan Pohjantikka Jyväskylä Kiinteistö Oy Malminhaka Tampere Kiinteistö Oy Nurmelanpirtti Lappeenranta Kiinteistö Oy Rekivatro Järvenpää Kiinteistöosakeyhtiö Aerolan A-talot Vantaa Kiinteistöosakeyhtiö Aerolan B-talot Vantaa Äyhönjärven Autopaikoitus Oy Rauma VVO Vuokratalot Oy Asunto Oy Espoon Asemakuja 1 Espoo Asunto Oy Espoon Piilipuuntie 25 Espoo Asunto Oy Espoon Piilipuuntie 31 Espoo Asunto Oy Kuopion Niemenkatu 5 Kuopio Fastighets Ab Lovisa Ulrikaborg Kiinteistö Oy Loviisa Kiinteistö Oy Hovirinnan Luumu Kaarina Kiinteistö Oy Kanavanpirtti Lappeenranta Kiinteistö Oy Nummenperttu Hämeenlinna VVO Financial Statements 30

8 Domicile holding, % holding, % Kiinteistö Oy Oulun Kotkankynsi Oulu Kiinteistö Oy Puotipuksu Jyväskylä Kiinteistö Oy Tuiranmaja Oulu Kiinteistö Oy Vaakamestarinpolku 2 Helsinki Kiinteistö Oy Vehnäpelto Vantaa Tikantupa Oy Jyväskylä VVO Korkotukikiinteistöt Oy Asunto Oy Kuopion Vilhelmiina Kuopio Kiinteistö Oy Tampereen Kyllikinkatu 15 Tampere Kiinteistö oy Vantaan Karhunkierros 1 C Vantaa VVO Palvelut Oy Koy Mannerheimintie 168a Helsinki Joint ventures VVO-group plc Asunto Oy Nilsiän Ski Nilsiä Suomen Asumisoikeus Oy Helsinki SV-Asunnot Oy Helsinki VVO Asunnot Oy Asunto Oy Ikaalisten Päiväniitty Ikaalinen As. Oy Järvenpään Jampanpaju Järvenpää Kiinteistö Oy Ahdinluoto Espoo Kiinteistö Oy Jyrkkälänpolku Turku Fastighets Ab Lovisa Stenborg Kiinteistö Oy Loviisa Kiinteistö Oy Silkkirivi Ikaalinen Kanniston Huolto Oy Kerava Mummunkujan pysäköinti Oy Tampere Popinniemen Lämpö Oy Kotka Ristikedonkadun Lämpö Oy Salo SKIPA Kiinteistöpalvelut Oy Espoo Tamppi Pysäköinti Oy Tampere Veturitallin Parkki Oy Jyväskylä Kiinteistö Oy Vantaan Puunhaltijakujan Parkki Vantaa Kiinteistö Oy Tampereen Taijan Parkki Tampere Hatanpäänhovin Pysäköinti Oy Tampere VVO Vuokratalot Oy Asunto Oy Laitilan Mirjaminpuisto Laitila As Oy Laitilan Tanhuantie Laitila Fastighets Ab Bärvägen Finström Kiinteistö Oy Ahjolansato Iisalmi Kiinteistö Oy Keinulaudantie 4 Helsinki Pajalan Huolto Oy Järvenpää VVO Korkotukikiinteistöt Oy Kiinteistö Oy Myllytullin Autotalo Oulu Lintulammenkadun Pysäköintilaitos oy Kerava Paavolan Parkki Oy Lahti Ruukuntekijäntien paikoitus Oy Vantaa Virvatulentien Pysäköinti Oy Helsinki VVO Financial Statements 31

9 Domicile holding, % holding, % VVO Kodit Oy Asunto Oy Kuopion Vilhelmiina Kuopio Katajapysäköinti Oy Tampere Kiinteistö Oy Helsingin Eliaksentalo 1 Helsinki Kiinteistö Oy Jyväskylän Torikulma Jyväskylä Kiinteistö Oy Oulun Tullivahdin Parkki Oulu Kiinteistö Oy Lappeenrannan Koulukatu 1 Lappeenranta Kiinteistö Oy Mannerheimintie 168 Helsinki Kiinteistö Oy Tampereen Kyllikinkatu 15 Tampere Marin autopaikat Oy Espoo Mummunkujan pysäköinti Oy Tampere Pihlajapysäköinti Oy Tampere Hatanpäänhovin Pysäköinti Oy Tampere Other joint ventures VVO-group plc Kirkkonummen Huolto Oy Kirkkonummi VVO Vuokratalot Oy VVO Asunnot Oy 3.27 VVO-group plc Ruukinpuiston Pysäköinti Oy Oulu VVO Korkotukikiinteistöt Oy 9.93 VVO Kodit Oy All associates apart from Suomen Asumisoikeus Oy and SV-Asunnot Oy have been consolidated using the equity method. VVO Financial Statements 32

10 Inventories Inventory shares Land areas and other inventories Total inventories as at 31 Dec Receivables Non-current Loan receivables from companies Receivables from joint ventures Loan receivables Loan receivables Other receivables Accrued income Current Accounts receivable Receivables from companies Accounts receivable Loan receivables Other receivables Receivables from joint ventures Loan receivables Loan receivables Other receivables Accrued income Financial securities Securities and shares Replacement value Book value Difference 20,216 28,922 49,138 34,948 40,480 75,428 61,546 61, , ,729 61,724 6,433 4, , ,010 21, ,521 9,168 2, ,640 8, , ,254 37,055 36, ,401 32,516 1,885 12,276 11, ,195 12,046 1,148 1, ,5 1,568 2,119 2,119 1,568 2,119 2, , ,838 Financial securities include fund shares, bonds, company shares and other similar publicly traded investment objects. Equity Share capital as at 1 Jan Share capital as at 31 Dec Share premium as at 1 Jan Share premium as at 31 Dec Revaluation reserve as at 1 Jan Increase Revaluation reserve as at 31 Dec Contingency fund 1 Jan / 31 Dec Reserve for invested unrestricted equity as at 1 Jan Increase Reserve for invested unrestricted equity as at 31 Dec VVO Financial Statements 33

11 Retained earnings as at 1 Jan Dividend distribution Adjustment for previous financial year *) Retained earnings as at 31 Dec Profit for the financial period Total equity 258,860-11,103-1, , ,623-8,240 24,890-11,103 21,988-8, ,382 13,787 13,747 44,775 40,478 11,885 11, , , , ,694 13,787 11,885 43,528 13,747 11,143 42,746 *) Retained earnings has been adjusted by EUR -1.4 million (0.0) by virtue of VVO Rakennuttaja s degree of completion adjustment. Calculation on distributable equity as at 31 Dec Reserve for invested unrestricted equity Retained earnings Profit for the financial period Total shares The parent company s share capital is divided by share class as follows: A series (20 votes per share) Accumulated appropriations Accumulated depreciation difference as at 1 Jan Changes Accumulated depreciation difference as at 31 Dec Residential housing reserve as at 1 Jan Changes Total accumulated appropriations as at 31 Dec Statutory provisions Other statutory provisions 2,026 1,910 24,247 2, ,054 19,160 5, ,247 The statutory provisions include guarantee reserves for VVO Rakennuttaja Oy s founder construction based on experience in the amount of EUR 2.0 million (1.9). Deferred tax assets and liabilities Due to appropriations Calculated on depreciation difference Value as at 1 Jan Value as at 31 Dec VVO Financial Statements 34 shares 7,402,560 7,402, ,022-2,

12 72,126 4,245-3,715 72,655 67,673 4, ,126 5,973 2, ,965 6, ,973-5,539-1,224 1,845-4,918-5, , ,756 96, ,756 2,354 96,807 2,354 1,540 3, , ,422 5, , ,582 1,676,927 3,888 4, , ,421 5, , ,313 1,637,951 Derivatives Interest rate swaps *) Nominal value Valuation 176,889-14, ,102-7,378 Interest rate swaps to be dissolved **) Nominal value Valuation 97,749-10,553 98,116-8,271 37, , ,315-25, ,034-16,110 Calculated on residential housing reserve Value as at 1 Jan Value as at 31 Dec Calculated on consolidation measures Deferred tax liabilities Value as at 1 Jan Value as at 31 Dec Deferred tax assets Value as at 1 Jan Value as at 31 Dec Total deferred tax liabilities as at 31 Dec Non-current liabilities Deferred tax liabilities Capital loans Loans from financial institutions Primary loans Mortgages State-subsidised loans Interest-subsidy loans Third-sector loans Other non-current loans Received advance payments Trade payables Other loans and debts *) The bank may change the interest rate tying for some swaps in certain situations. 10,772 11,466 10,772 11,466 8, , , , **) The bank may dissolve the interest rate hedging in certain situations. Interest rate options bought and written Nominal value Valuation Total Nominal value Fair value The average maturity of derivatives is 3 years (2 years 7 months). VVO Financial Statements 35

13 Current liabilities Loans from financial institutions Instalments of primary loans in the next financial year Instalments of mortgages in the next financial year Instalments of state-subsidised loans in the next financial year Instalments of interest-subsidy loans in the next financial year Instalments of third-sector loans in the next financial year Instalments of additional loans in the next financial year Instalments of other current loans in the next financial year Overdraught limits Current bank loans Received advance payments Trade payables Liabilities to companies Trade payables Other loan and depts Other loans and debts Accrued expenses Accrued interest payable Payroll including social security contributions Tax liabilities Construction Other accrued expenses 1, ,485 1,385 7,124 9,827 11,820 7, ,560 6,000 24,664 7,000 3,150 5,119 6,626 71,635 68,125 13,312 3,566 3,394 1,141 3, ,565 10,958 4,724 2,412 1,887 3, ,411 5,145 4, ,931 52, ,707 50, , ,205 Capital loans Capital note of Suomen Vuokratalot Oy, 2001 Suomen Vuokratalot Oy received a capital note from the City of Tampere totalling EUR 2,354, in 2001, on the following loan terms: The loan shall be repaid in 20 years. The interest rate is a fixed 5.5% per annum for the first five years, and thereafter the six-month Euribor rate plus 0.75 percentage points. The loan interest is only to be paid if the amount paid can be used for distribution in accordance with the company s latest confirmed balance sheet. The interest rates are accrued in the financial statement. Suomen Vuokratalot Oy has merged with VVO Kodit Oy, and the capital note was transferred to VVO Kodit Oy under the same terms and conditions. Related party transactions In, VVO Kodit Oy bought a 46.3% holding in As. Oy Helsingin Haapaniemenkatu 11 from the Varma Mutual Pension Insurance Company. Varma has a 15.98% holding in VVO-group plc. In 2009, VVO Rakennuttaja Oy sold the entire share capital (shares 1 8,000) of Asunto Oy Helsingin Tervapääskynen to the Trade Union for the Public and Welfare Sectors and committed to constructing a building for them. The construction project continued in. The Trade Union for the Public and Welfare Sectors has a 8.18% holding in VVO-group plc. VVO Financial Statements 36