Annual Report 2017
Annual Report 2017
- Suomeksi
- In English
- Year 2017
- Corporate governance
- Responsibility
- Investments
- Investments
- List of investments
- Map of investments
- Emphasis on direct investments
- Equity funds as a channel to difficult markets
- Banks and financial institutions
- Highlights of Finnfund's investments
- Highlights of Finnfund's investments
- Microcredit brings a safer future for Cambodian farmers
- JUMO brings financial services to mobile users
- Developing agriculture to boost smallholder harvests and incomes
- Clean solar energy in rural Honduras
- Finnish company turned defeat into victory in Ethiopia
- Solar energy for African entrepreneurs
- Financials
- Financials
- Board of Directors' report
- Profit and loss account
- Balance sheet
- Cash flow statement
- Accounting policy
- Notes to the profit and loss account
- Notes to the balance sheet
- Other supplementary information
- Signatures of Board of Directors' report and financial statements
- Auditor's report
- Statement of the Supervisory Board
Year 2017
Key figures
This page contains key figures for 2017. For more information, see the section on financial statements.
Key figures 2013 - 2017
| 2013 | 2014 | 2015 | 2016 | 2017 | |
| Number of project countries | 33 | 32 | 33 | 34 | 39 |
| Number of investments | 149 | 160 | 160 | 167 | 171 |
| Financing commitments, EUR million | 90 | 115 | 84 | 152 | 201 |
| Number of financing commitments | 20 | 25 | 21 | 22 | 29 |
| Disbursements, EUR million | 34 | 73 | 77 | 81 | 114 |
| Undisbursed investment decisions and commitments, EUR million | 178 | 221 | 235 | 255 | 276 |
| Portfolio, EUR million | 250 | 294 | 329 | 356 | 393 |
| Shareholders' capital, EUR million | 215 | 236 | 251 | 233 | 244 |
| Total assets/liabilities, EUR million | 311 | 317 | 377 | 406 | 464 |
| Number of personnel on average | 49 | 51 | 56 | 60 | 71 |
Five years in review
| Operational analysis, EUR million | 2013 | 2014 | 2015 | 2016 | 2017 |
| Financial income | 13.6 | 12.9 | 16.2 | 19.2 | 24.6 |
| Financial expenses | -1.6 | -1.8 | -2.7 | -5.1 | -8.6 |
| Net financial income | 12.0 | 11.1 | 13.5 | 14.1 | 16.0 |
| Other operating income | 1.5 | 1.6 | 1.8 | 1.6 | 1.5 |
| Administration, depreciation and amortisation and other operating expenses | -7.8 | -8.4 | -9.3 | -10.6 | -11.8 |
| Profit before impairment, sales of assets and taxes | 5.7 | 4.3 | 6.0 | 5.1 | 5.7 |
| Impairment and sales of assets | -3 | -1.9 | -0.8 | -4.8 | -3.1 |
| Taxes | 0 | 0 | -0.1 | 0 | -0.6 |
| Net profit | 2.7 | 2.4 | 5.1 | 0.3 | 2.0 |
| Balance sheet, EUR million | 2013 | 2014 | 2015 | 2016 | 2017 |
| Assets | |||||
| Tangible and intangible assets | 0.1 | 0.2 | 0.2 | 0.2 | 0.1 |
| Investments | 250.0 | 293.6 | 329.6 | 356.3 | 393.3 |
| Current assets | 60.5 | 23.4 | 47.3 | 49.5 | 70.3 |
| 310.6 | 317.2 | 377.1 | 406.0 | 463.7 | |
| Liabilities | |||||
| Equity | 215.3 | 235.7 | 250.8 | 232.9 | 244.1 |
| Liabilities | 95.3 | 81.5 | 126.3 | 173.1 | 219.6 |
| 310.6 | 317.2 | 377.1 | 406.0 | 463.7 | |
| Financial indicators | 2013 | 2014 | 2015 | 2016 | 2017 |
| Equity ratio, % | 69 | 74 | 67 | 57 | 53 |
| Return on equity p.a., % | 1.3 | 1.1 | 2.1 | 0.1 | 0.8 |
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