Notes to the balance sheet 4,137 273-6 3,094 7,498 3,734 62 2,590 15-6 2,5 2,526 62-1 1 2,590-2,306 0-122 -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 2-324 -3,157-309 -2,835-2,427 2-77 -2,503 4,341 1,301 96 162 7,284 403-2 6,555 697-1 33 7,284 5,223 5,259 7-49 6 5,223 7,685-5,942 2-2,526 5,223-4,832-4,398 18-450 -6,391-5,285 1-6 -652-5,942-154 -4,987-453 -4,832 1,294 1,341 235 390 349-4 444 8-8 349-4 444 8-8 444 444 VVO Financial Statements 24
Tangible assets Land and water areas 224,751 8,608-8,072 3,089 228,377 206,940 3,020-2,127 16,917 224,751 5,382-50 27,742 31-22,391 5,331 5,382 Appreciations 84 228,461 84 224,835 5,331 5,382 Entry fees 23,507 198-83 1,537 25,159 22,968 10-33 561 23,507 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 53,089 75-53,164-408,777 768-14 -46,334-454,357-366,392 1,629 51-44,066-408,777-5,218 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 139.4 million (136.6) has been allocated to buildings. VVO Financial Statements 25 455-501 46-479
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 11,983 248-75 144 12,301 12,649 455-1,327 206 11,983 2,205 136-31 4 2,315 2,330 210-335 2,205-9,531 70 14-1,075-10,522-9,766 1,322-1,683 28-1,665 295-1,088-9,531-289 -1,945-313 -1,683 1,778 2,451 370 521 6,976 606 0 1,035 8,618 5,893 415-8 675 6,976 267 427 267-114 -46 267-3,113-31 -44 25 0-663 -3,777-2,568 7 5-557 -3,113-7 -38-12 -31 4,841 3,862 228 235 90,1 56,610-4,019-79,442 63,347 52,293 73,172-2,567-32,698 90,1 84 84 2,035 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 26 349 580-930
75,871 Investments Shares in subsidiaries 75,871 123,043 56,826-103,9 75,871 Appreciations 2,119 77,0 2,119 77,0 770 4,114 Joint venture shares Other securities and shares Other receivables, advance payments 8,502 1,538-68 144 10,117 7,715 1,561-444 -329 8,502 770 770 10,117 8,502 770 770 8,957 29-515 70 8,542 8,586 382-339 328 8,957 894 2,785 330-2,222 894 894 8,542 8,957 894 894 1,682 103 1,007 2,794 1,682 1,682 2,794 1,682 VVO Financial Statements 27-3,343
Domicile holding, % holding, % Subsidiaries Mummunkujan Pysäköinti Oy Tampere 53.01 Katajapysäköinti Oy Tampere 50.93 Hatanpäänhovin Pysäköinti Oy Tampere 62.51 VVO-group plc Kiinteistö osakeyhtiö Pikkuhirvas Inari 100.00 100.00 Kiinteistö Oy Vantaan Lauri Korpisen katu 6 Vantaa 100.00 100.00 VVO Asumisoikeus Oy Helsinki 100.00 100.00 VVO Asunnot Oy Helsinki 100.00 100.00 VVO Kodit Oy Helsinki 100.00 100.00 VVO Korkotukikiinteistöt Oy Helsinki 100.00 100.00 VVO Palvelut Oy Helsinki 100.00 100.00 VVO Rakennuttaja Oy Helsinki 100.00 100.00 VVO Vuokra-asunnot Oy Helsinki 100.00 100.00 VVO Vuokratalot Oy Helsinki 100.00 100.00 VVO Kodit Oy As Oy Kuopion Havuketo Kuopio 100.00 100.00 As Oy Turun Puistokatu 12 Turku 100.00 100.00 As Oy Vantaan Junkkarinkaari 7 Vantaa 100.00 100.00 As. Oy Heinolan Korvenkaarre Heinola 100.00 100.00 As. Oy Hyvinkään Merino Hyvinkää 100.00 100.00 As. Oy Hyvinkään Mohair Hyvinkää 100.00 100.00 As. Oy Kuopion Kaarenkulma Kuopio 100.00 100.00 As. Oy Malski 3 Lahti 100.00 100.00 As. Oy Pihavaahtera Hollola 100.00 100.00 AsOy Helsingin Vuorenpeikontie 5 Helsinki 100.00 100.00 Asunto Oy Espoon Klariksenkallio Espoo 100.00 100.00 Asunto Oy Espoon Matinniitty Espoo 100.00 100.00 Asunto Oy Espoon Matinniitynkuja 7 Espoo 100.00 100.00 Asunto Oy Espoon Soukanrinne Espoo 100.00 100.00 Asunto Oy Espoon Suurpellon Puistokatu G Espoo 100.00 100.00 Asunto Oy Espoon Suurpellon Puistokatu H Espoo 100.00 100.00 Asunto Oy Espoon Vihreätikka Espoo 100.00 100.00 Asunto Oy Helsingin Haapaniemenkatu 11 Helsinki 100.00 100.00 Asunto Oy Helsingin Hopeatie 9 Helsinki 100.00 100.00 Asunto Oy Helsingin Katariinankartano Helsinki 100.00 100.00 Asunto Oy Helsingin Katariinankoski Helsinki 100.00 100.00 Asunto Oy Helsingin Koskikartano Helsinki 100.00 100.00 Asunto Oy Helsingin Maasälväntie 5 ja 9 Helsinki 100.00 100.00 Asunto Oy Helsingin Marjatanportti Helsinki 100.00 100.00 Asunto Oy Helsingin Plazankuja 5 Helsinki 100.00 100.00 Asunto Oy Helsingin Posetiivari Helsinki 100.00 100.00 Asunto Oy Helsingin Ratarinne Helsinki 100.00 100.00 Asunto Oy Helsingin Risupadontie 6 Helsinki 100.00 100.00 Asunto Oy Helsingin Tilketori 2 Helsinki 77.46 77.46 Asunto Oy Helsingin Tuulastus Helsinki 100.00 100.00 Asunto Oy Helsingin Tuulensuunkuja 3 Helsinki 100.00 100.00 Asunto Oy Helsingin Valanportti Helsinki 100.00 100.00 Asunto Oy Hilapellontie 2 b Helsinki 100.00 100.00 Asunto Oy Hämeenlinnan Kajakulma Hämeenlinna 73.97 73.97 Asunto Oy Hämeenlinnan Turuntie 38 Hämeenlinna 100.00 100.00 Asunto Oy Hämeenlinnan Uusi-Jukola Hämeenlinna 100.00 100.00 VVO Financial Statements 28
Domicile holding, % holding, % Asunto Oy Hämeentie 48 Helsinki 100.00 100.00 Asunto Oy Joensuun Rantakylänkatu 17 Joensuu 100.00 100.00 Asunto Oy Jyväskylän Harjunarkadi Jyväskylä 100.00 100.00 Asunto Oy Jyväskylän Tellervonkatu 8 Jyväskylä 80.00 80.00 Asunto Oy Kauniaisten Asematie 10 Kauniainen 100.00 100.00 Asunto Oy Kauniaisten Asematie 12 14 Kauniainen 100.00 100.00 Asunto Oy Kauniaisten Bredantie 8 Kauniainen 100.00 100.00 Asunto Oy Kauniaisten Thurmaninpuistotie 2 Kauniainen 100.00 100.00 Asunto Oy Keravan Eerontie 3 Kerava 100.00 100.00 Asunto Oy Keravan Palopolku 3 Kerava 80.00 80.00 Asunto Oy Kivivuorenkuja 1 Vantaa 100.00 100.00 Asunto Oy Kivivuorenkuja 3 Vantaa 100.00 100.00 Asunto Oy Kuopion Sompatie 7 Kuopio 100.00 100.00 Asunto Oy Kuopion Sompatie 9 Kuopio 100.00 100.00 Asunto Oy Lahden Regattahovi Lahti 100.00 100.00 Asunto Oy Lappeenrannan Gallerianpolku Lappeenranta 100.00 100.00 Asunto Oy Lappeenrannan Upseeritie 12 Lappeenranta 100.00 100.00 Asunto Oy Oulun Tervahanhi Oulu 80.00 80.00 Asunto Oy Pirtinketosato Kuopio 63.55 63.55 Asunto Oy Pohtolan Kynnys Tampere 100.00 100.00 Asunto Oy Pohtolan Kytö Tampere 100.00 100.00 Asunto Oy Pohtolan Pohja Tampere 100.00 100.00 Asunto Oy Porin Kansankulma Pori 100.00 100.00 Asunto Oy Rautamasuuni Oulu 100.00 100.00 Asunto Oy Rientolanhovi Tampere 100.00 100.00 Asunto Oy Riihimäen Mäkiraitti 17 Riihimäki 100.00 100.00 Asunto Oy Rovaniemen Koskikatu 9 Rovaniemi 100.00 100.00 Asunto Oy Rovaniemen Pohjolankatu 11 Rovaniemi 100.00 100.00 Asunto Oy Rovaniemen Tukkivartio Rovaniemi 100.00 100.00 Asunto Oy Salamankulma Turku 66.18 66.18 Asunto Oy Tampereen Tuomiokirkonkatu 32 Tampere 100.00 100.00 Asunto Oy Toppilan Tuulentie 2 Oulu 100.00 100.00 Asunto Oy Tuiran Komuntalo Oulu 100.00 100.00 Asunto Oy Turun Ketokaunokki Turku 100.00 100.00 Asunto Oy Turun Niittyvilla Turku 100.00 100.00 Asunto Oy Turun Vänrikinkatu 2 Turku 100.00 100.00 Asunto Oy Vantaan Keikarinkuja 3 Vantaa 100.00 100.00 Asunto Oy Vantaan Kilterinaukio 4 Vantaa 100.00 100.00 Asunto Oy Vantaan Kilterinkaari 2 Vantaa 100.00 100.00 Asunto Oy Vantaan Krassitie 8 Vantaa 80.00 80.00 Asunto Oy Vantaan Neilikkapolku Vantaa 100.00 100.00 Asunto Oy Vantaan Pyhtäänkorvenkuja 4 ja 6 Vantaa 100.00 100.00 Asunto Oy Vantaan Tammistonvuori Vantaa 100.00 100.00 Asunto Oy Verkkotie 3 Hämeenlinna 100.00 100.00 Asunto Oy Vähäntuvantie 6 Helsinki 100.00 100.00 Kiint. Oy Taivaskero 2 Vantaa 100.00 100.00 Kiinteistö Oy Kavallinterassit Kauniainen 100.00 100.00 Kiinteistö Oy Rappulanharju Salo 100.00 100.00 Kiinteistö Oy Reki-Valko Järvenpää 100.00 100.00 Kiinteistö Oy Saarensahra Tampere 100.00 100.00 Kiinteistö Oy Satonkaarre Kaarina 90.00 90.00 Kiinteistö Oy Siilinjärven Kirkkorinne Siilinjärvi 100.00 100.00 Kiinteistö Oy Tuureporin Liiketalo Turku 100.00 100.00 Kiinteistö Oy Vantaan Pyhtäänpolku Vantaa 100.00 100.00 VVO Financial Statements 29
Domicile holding, % holding, % Kiinteistö Oy Vantaan Vilhelmiina Vantaa 100.00 100.00 Kiinteistö Oy Vantaan Viola Vantaa 100.00 100.00 Kiinteistö Oy Ylä-Malmintori Helsinki 100.00 100.00 Kiinteistöosakeyhtiö Näsinlinnankatu 40 Tampere 100.00 100.00 Volaria Oy Helsinki 100.00 100.00 VVO Asunnot Oy Asunto Oy Espoon Klariksentie 2 Espoo 92.74 92.74 Asunto Oy Espoon Piilipuuntie 11 Espoo 100.00 100.00 Asunto Oy Espoon Piilipuuntie 7 Espoo 100.00 100.00 Asunto Oy Espoon Piilipuuntie 9 Espoo 100.00 100.00 Asunto Oy Helsingin Helminauha Helsinki 100.00 100.00 Asunto Oy Helsingin Plyymi Helsinki 100.00 100.00 Asunto Oy Helsingin Puuhka Helsinki 100.00 100.00 Asunto Oy Helsingin Silkkinauha Helsinki 100.00 100.00 Asunto Oy Helsingin Soittajantie 2 Helsinki 100.00 100.00 Asunto Oy Helsingin Viuhka Helsinki 100.00 100.00 Asunto Oy Kouvolan Viirikaari Kouvola 100.00 100.00 Asunto Oy Kuopion Papinkuja 3 Kuopio 100.00 100.00 Asunto Oy Kuopion Papinkuja 7 Kuopio 100.00 100.00 Asunto Oy Päivöläntie 25 Helsinki 93.86 93.86 Asunto Oy Turun Aurinkorinne Turku 81.50 81.50 Asunto Oy Vantaan Kilterinmännikkö Vantaa 100.00 100.00 Asunto Oy Vihdin Pajuniitty Vihti 100.00 100.00 Kiinteistö Oy Espoon Lyhtykuja Espoo 100.00 100.00 Kiinteistö Oy Lappeenrannan Koulukatu 1 Lappeenranta 75.55 100.00 Kiinteistö Oy Loviisanlinna-Lovisaborg Fastighets Ab Loviisa 100.00 100.00 Kiinteistö Oy Mannerheimintie 168 Helsinki 51.46 82.61 Kiinteistö Oy Vantaan Kilterinrinne 6 Vantaa 100.00 100.00 Kiinteistö Oy Vantaan Kilterinhovi Vantaa 100.00 100.00 Kiinteistö Oy Vantaan Kilterinkartano Vantaa 100.00 100.00 Kiinteistö Oy Vantaan Kilterinpiha Vantaa 100.00 100.00 Kiinteistö Oy Vantaan Viktoria Vantaa 100.00 100.00 VVO Vuokra-asunnot Oy Asunto Oy Helsingin Kauppakartanonkuja 3 Helsinki 100.00 100.00 Asunto Oy Jyväskylän maalaiskunnan Pohjantikka Jyväskylä 100.00 100.00 Kiinteistö Oy Malminhaka Tampere 90.00 90.00 Kiinteistö Oy Nurmelanpirtti Lappeenranta 100.00 100.00 Kiinteistö Oy Rekivatro Järvenpää 100.00 100.00 Kiinteistöosakeyhtiö Aerolan A-talot Vantaa 100.00 100.00 Kiinteistöosakeyhtiö Aerolan B-talot Vantaa 100.00 100.00 Äyhönjärven Autopaikoitus Oy Rauma 58.13 58.13 VVO Vuokratalot Oy Asunto Oy Espoon Asemakuja 1 Espoo 100.00 100.00 Asunto Oy Espoon Piilipuuntie 25 Espoo 100.00 100.00 Asunto Oy Espoon Piilipuuntie 31 Espoo 100.00 100.00 Asunto Oy Kuopion Niemenkatu 5 Kuopio 100.00 100.00 Fastighets Ab Lovisa Ulrikaborg Kiinteistö Oy Loviisa 97.33 97.33 Kiinteistö Oy Hovirinnan Luumu Kaarina 80.00 80.00 Kiinteistö Oy Kanavanpirtti Lappeenranta 100.00 100.00 Kiinteistö Oy Nummenperttu Hämeenlinna 100.00 100.00 VVO Financial Statements 30
Domicile holding, % holding, % Kiinteistö Oy Oulun Kotkankynsi Oulu 65.00 65.00 Kiinteistö Oy Puotipuksu Jyväskylä 100.00 100.00 Kiinteistö Oy Tuiranmaja Oulu 58.67 58.67 Kiinteistö Oy Vaakamestarinpolku 2 Helsinki 100.00 100.00 Kiinteistö Oy Vehnäpelto Vantaa 100.00 100.00 Tikantupa Oy Jyväskylä 100.00 100.00 VVO Korkotukikiinteistöt Oy Asunto Oy Kuopion Vilhelmiina Kuopio 78.38 100.00 Kiinteistö Oy Tampereen Kyllikinkatu 15 Tampere 76.50 100.00 Kiinteistö oy Vantaan Karhunkierros 1 C Vantaa 86.58 86.58 VVO Palvelut Oy Koy Mannerheimintie 168a Helsinki 100.00 100.00 Joint ventures VVO-group plc Asunto Oy Nilsiän Ski Nilsiä 28.33 28.33 Suomen Asumisoikeus Oy Helsinki 50.00 50.00 SV-Asunnot Oy Helsinki 50.00 50.00 VVO Asunnot Oy Asunto Oy Ikaalisten Päiväniitty Ikaalinen 23.20 23.20 As. Oy Järvenpään Jampanpaju Järvenpää 41.35 41.35 Kiinteistö Oy Ahdinluoto Espoo 34.50 34.50 Kiinteistö Oy Jyrkkälänpolku Turku 28.85 28.85 Fastighets Ab Lovisa Stenborg Kiinteistö Oy Loviisa 45.50 45.50 Kiinteistö Oy Silkkirivi Ikaalinen 33.33 33.33 Kanniston Huolto Oy Kerava 20.51 20.51 Mummunkujan pysäköinti Oy Tampere 26.51 53.01 Popinniemen Lämpö Oy Kotka 34.00 34.00 Ristikedonkadun Lämpö Oy Salo 49.90 49.90 SKIPA Kiinteistöpalvelut Oy Espoo 20.63 20.63 Tamppi Pysäköinti Oy Tampere 23.21 23.21 Veturitallin Parkki Oy Jyväskylä 45.31 45.31 Kiinteistö Oy Vantaan Puunhaltijakujan Parkki Vantaa 45.00 45.00 Kiinteistö Oy Tampereen Taijan Parkki Tampere 49.17 49.17 Hatanpäänhovin Pysäköinti Oy Tampere 20.63 62.51 VVO Vuokratalot Oy Asunto Oy Laitilan Mirjaminpuisto Laitila 49.63 49.63 As Oy Laitilan Tanhuantie Laitila 35.90 35.90 Fastighets Ab Bärvägen Finström 33.33 33.33 Kiinteistö Oy Ahjolansato Iisalmi 25.00 25.00 Kiinteistö Oy Keinulaudantie 4 Helsinki 41.62 41.62 Pajalan Huolto Oy Järvenpää 31.44 44.06 VVO Korkotukikiinteistöt Oy Kiinteistö Oy Myllytullin Autotalo Oulu 24.39 24.39 Lintulammenkadun Pysäköintilaitos oy Kerava 39.19 39.19 Paavolan Parkki Oy Lahti 24.93 24.93 Ruukuntekijäntien paikoitus Oy Vantaa 26.24 26.24 Virvatulentien Pysäköinti Oy Helsinki 25.15 25.15 VVO Financial Statements 31
Domicile holding, % holding, % VVO Kodit Oy Asunto Oy Kuopion Vilhelmiina Kuopio 21.68 100.00 Katajapysäköinti Oy Tampere 34.26 50.93 Kiinteistö Oy Helsingin Eliaksentalo 1 Helsinki 23.01 23.01 Kiinteistö Oy Jyväskylän Torikulma Jyväskylä 42.63 42.63 Kiinteistö Oy Oulun Tullivahdin Parkki Oulu 33.78 33.78 Kiinteistö Oy Lappeenrannan Koulukatu 1 Lappeenranta 24.45 100.00 Kiinteistö Oy Mannerheimintie 168 Helsinki 31.15 82.61 Kiinteistö Oy Tampereen Kyllikinkatu 15 Tampere 23.50 100.00 Marin autopaikat Oy Espoo 21.00 21.00 Mummunkujan pysäköinti Oy Tampere 26.51 53.01 Pihlajapysäköinti Oy Tampere 30.56 30.56 Hatanpäänhovin Pysäköinti Oy Tampere 41.88 62.51 Other joint ventures VVO-group plc Kirkkonummen Huolto Oy Kirkkonummi 21.15 VVO Vuokratalot Oy 17.88 VVO Asunnot Oy 3.27 VVO-group plc Ruukinpuiston Pysäköinti Oy Oulu 23.49 VVO Korkotukikiinteistöt Oy 9.93 VVO Kodit Oy 13.56 All associates apart from Suomen Asumisoikeus Oy and SV-Asunnot Oy have been consolidated using the equity method. VVO Financial Statements 32
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 61,546 84 522 125 53 786 591 517 98 83 1,291 182 177 61,729 61,724 6,433 4,333 2 0 697 796 32,394 102 7,010 21,614 507 353 352 1,521 9,168 2,690 306 1,640 8,971 96 17 208 34,214 86 145 294 29,254 37,055 36,277 778 34,401 32,516 1,885 12,276 11,723 553 13,195 12,046 1,148 1,568 31 1,5 1,568 2,119 2,119 1,568 2,119 2,119 16 16 16 16 18 17,838 18 17,838 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
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 258,860-11,103-1,421 246,334 226,623-8,240 24,890-11,103 21,988-8,240 218,382 13,787 13,747 44,775 40,478 11,885 11,143 404,394 372,112 139,476 138,694 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 2,882-75 27,054 19,160 5,609-522 24,247 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 7,402,560 12 4 16 2,022-2,009 12 16 626-626 12
72,126 4,245-3,715 72,655 67,673 4,953-500 72,126 5,973 2,340-348 7,965 6,100-126 5,973-5,539-1,224 1,845-4,918-5,472-888 821-5,539 102,756 96,807 102,756 2,354 96,807 2,354 1,540 3,135 330,558 593,422 5,059 624,485 30 2 13,582 1,676,927 3,888 4,187 338,193 539,421 5,857 633,884 40 1 13,313 1,637,951 Derivatives Interest rate swaps *) Nominal value Valuation 176,889-14,200 145,102-7,378 Interest rate swaps to be dissolved **) Nominal value Valuation 97,749-10,553 98,116-8,271 37,676-569 44,815-460 312,315-25,323 288,034-16,110 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 8,442-761 3,600-362 8,442-761 3,600-362 **) 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
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 1,273 873 2,485 1,385 7,124 9,827 11,820 7,016 290 172 100 201 22,560 6,000 24,664 7,000 3,150 5,119 6,626 71,635 68,125 13,312 3,566 3,394 1,141 3,468 156,565 10,958 4,724 2,412 1,887 3,651 159,411 5,145 4,856 660 660 395 540 11 9,931 52,809 1 56,707 50,411 43 689 800 41 557 284 65,343 109,205 Capital loans Capital note of Suomen Vuokratalot Oy, 2001 Suomen Vuokratalot Oy received a capital note from the City of Tampere totalling EUR 2,354,630.97 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