Financials

Notes to the profit and loss account

EUR 1000

			2015	2014
1	Other operating income
	Operating income from participating interests		29	78
	Remunerations		1,107	1,004
	Other operating income		729	530
			1,865	1,612
2	Average number of staff employed
	Employees		56	51
3	Wages and salaries
	Managing Director and his alternate		334	327
	The Board of Directors and the Supervisory Board		117	120
		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		29	34
	Machinery and equipment		102	82
			131	116
5	Other operating charges
	Voluntary staff expenses		419	345
	Office		483	506
	ICT		341	382
	Travel and negotiation expenses		743	730
	Entertainment and PR expenses		138	105
	External services		1,207	859
	Other expenses		327	293
			3,658	3,220
6	Auditor's remunerations
	Audit fee		9	10
	Assignments		1	11
	Other services		16	3
			26	24
7	Financial income and expenses
	Financial income
	Income from participating interests
		From funds	4	26
		Profit from sales of assets	2,646	0
		From others	211	250
	Income from participating interests		2,861	276
	Income from other investments
		Dividends	183	334
		From funds	7,068	5,107
		Profit from investments and sales of assets	2,804	86
	Income from other investments		10,055	5,527
	Other interest and financial income
		Interest income	7,378	5,805
		Interest income from participating interests	478	265
		Financial income	842	1,140
		Financial income from participating interests	4	2
		Exchange rate gain	15,272	10,512
	Other interest and financial income		23,974	17,724
	Financial income total		36,890	23,527
	Permanent write-offs of investments and their reversals
		Equity and funds	-4,373	-3,318
		Loans	-5,808	-3,423
		Reversal of write-offs on shares and fund investments	3,689	4,006
		Reversal of write-offs on loans	1,498	1,348
	Write-offs of investments and their reversals		-4,994	-1,387
	Interest and other financial expenses
		Interest expenses to others	-789	-747
		Other financial expenses	-2,033	-847
		Loss from investments and sales of assets	-1,284	-577
		Exchange rate loss	-15,153	-10,720
	Interest and other financial expenses total		-19,259	-12,891
	Financial income and expenses total		12,637	9,249
	The item Financing income and expenses includes loss of exchange (net)		119	-209
7	Income from financing operations by income level
	Least developed countries (LDC)		11,902	6,669
	Other low-income countries (LIC)		8,638	4,241
	Lower-middle-income countries (LMIC)		8,271	6,745
	Upper-middle-income countries (UMIC)		2,906	2,565
	Other countries Russia		790	1,112
			32,507	21,332
8	Income taxes
	Tax on capital gains outside Finland		100	0
	Withholding taxes on dividends		0	2
	Withholding taxes on emoluments		3	3
	Stamp duty		0	30
			103	35

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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