Financials

Notes to the profit and loss account

EUR 1000

			2014	2013
1	Other operating income
	Operating income from participating interests		78	26
	Remunerations		1,004	1,001
	Other operating income		530	531
			1,612	1,558
2	Average number of staff employed
	Employees		51	49
3	Wages and salaries
	Managing Director and his alternate		327	324
	The Board of Directors and the Supervisory Board		120	124
		The Board of Directors
		Chair's monthly emoluments	1,100 €
		Vice chair's monthly emoluments	700 €
		Board members' monthly emoluments	600 €
		Emolument per meeting of Board of Directors and Audit Committee	300 €
		Supervisory Board
		Chair’s emolument per meeting	800 €
		Vice chair’s emolument per meeting	600 €
		Board member's emolument per meeting	500 €
	Managing Director has the right to retire at the age of 63. Retirement age is based on the contract renewed in 2012.
4	Depreciation
	Other capitalised long-term expenses		34	38
	Machinery and equipment		82	56
			116	94
5	Other operating charges
	Voluntary staff expenses		345	410
	Office		506	357
	ICT		382	281
	Travel and negotiation expenses		730	836
	Entertainment and PR expenses		105	103
	External services		859	527
	Other expenses		293	445
			3,220	2,959
6	Auditor's remunerations
	Audit fee		10	10
	Assignments		11	11
	Other services		3	11
			24	32
7	Financial income and expenses
	Financial income
	Income from participating interests
		Dividends	0	1,155
		From funds	26	339
		From others	250	164
	Income from participating interests		276	1,658
	Income from other investments
		Dividends	334	403
		From funds	5,107	3,412
		Profits from investments	86	0
	Income from other investments		5,527	3,815
	Other interest and financial income
		Interest income	5,805	6,687
		Interest income from participating interests	265	302
		Financial income	1,140	1,095
		Financial income from participating interests	2	1
		Exchange rate gain	10,512	4,959
	Other interest and financial income		17,724	13,044
	Financial income total		23,527	18,517
	Permanent write-offs of investments and their reversals
		Equity and funds	-3,318	-5,854
		Loans	-3,423	-3,217
		Reversal of write-offs on shares and fund investments	4,006	6,006
		Reversal of write-offs on loans	1,348	6,764
	Write-offs of investments and their reversals		-1,387	3,699
	Interest and other financial expenses
		Interest expenses to others	-747	-795
		Other financial expenses	-847	-776
		Loss from sales of assets	-577	-6,644
		Exchange rate loss	-10,720	-5,030
	Interest and other financial expenses total		-12,891	-13,245
	Financial income and expenses total		9,249	8,971
	The item Financing income and expenses includes loss of exchange (net)		-209	-72
7	Income from financing operations by income level
	Least developed countries (LDC)		7,321	3,899
	Other low-income countries (LIC)		4,241	1,014
	Lower-middle-income countries (LMIC)		6,745	6,149
	Upper-middle-income countries (UMIC)		1,718	3,703
	Other countries		1,113	1,665
			21,138	16,430
8	Income taxes
	Withholding taxes on dividends		2	26
	Withholding taxes on emoluments		3	3
	Stamp duty		30	0
			35	29

Finnish Fund for Industrial
Cooperation Ltd. (FINNFUND)

Uudenmaankatu 16 B
P.O. Box 391 FI-00121 Helsinki, Finland
tel. +358 9 348 434
fax +358 9 3484 3346
www.finnfund.fi

Financials

Notes to the profit and loss account

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