Notes to the balance sheet

EUR 1000





9 Intangible and tangible assets Other long-term expenses Machinery and equipment Total

Acquisition cost 1 Jan. 2016 1,083 1,940 3,023


Increases 58 135 193

Acquisition cost 31 Dec. 2016 1,141 2,075 3,216

Accumulated depreciations 1 Jan. 2016 -1,054 -1,755 -2,809


Depreciation of the accounting period -47 -141 -188

Accumulated depreciations 31 Dec. 2016 -1,101 -1,896 -2,997

Book value 31 Dec. 2016 40 179 219

Book value 31 Dec. 2015 29 185 214
10 Investments / Shares and funds Participating interests Others Total

Acquisition cost 1 Jan. 2016 56,789 137,558 194,347


Adjustment based on change in accounting principles -1,519 -16,705 -18,224


Increases 7,331 10,528 17,859


Transfer between items 3,483 -3,483 0


Decreases -928 -10,379 -11,307

Acquisition cost 31 Dec. 2016 65,156 117,519 182,675

Individual write-offs accumulated as of 1 Jan. 2016 -7,904 -7,742 -15,646


Reversal of write-offs 1,045 2,415 3,460


Write-offs during the financial year -3,444 -4,098 -7,542

Individual write-offs accumulated as of 31 Dec. 2016 -10,303 -9,425 -19,728

Book value 31 Dec. 2016 54,853 108,094 162,947
10 Investments / Loans Participating interests Others Total

Acquisition cost 1 Jan. 2016 17,412 158,863 176,275


Increases 2,766 66,794 69,560


Transfer between items 7,146 -7,146 0


Decreases -4,528 -28,067 -32,595

Acquisition cost 31 Dec. 2016 22,796 190,444 213,240

Individual write-offs accumulated as of 1 Jan. 2016 -2,172 -23,209 -25,381


Reversal of write-offs 22 8,918 8,940


Write-offs during the financial year -200 -3,252 -3,452

Individual write-offs accumulated as of 31 Dec. 2016 -2,350 -17,543 -19,893

Book value 31 Dec. 2016 20,446 172,901 193,347


2016 2015
11 Subordinated receivables


Capital loans to participating interests 20,446 15,240

Capital loans to others 25,550 30,629


45,996 45,869
12 Receivables from participating interests


Interests 65 18

Other 63 51

Dividends 142 0


270 69
13 Prepayments and accrued income


Interests 2,074 1,349

Other 1,147 1,573


3,221 2,922
14 Marketable securities


Repurchase price 5,635 5,580

Book value 5,399 5,393

Difference 236 187








Derivatives Fair value Changes in fair value recognized in P&L

Cross currency swaps, maturity less than 5 years 5,338 -137

Fair value and changes in the fair value recognized in P&L 2015 4,532 115

Foreign exchange forward agreements, maturity less than 1 year 1,126 -95


Fair value and changes in the fair value recognized in P&L 2015 34 28

Total 2016 6,464 -232

Total 2015 4,566 143












2016 2015
15 Shareholders' equity


The purpose of the company is not to generate a profit for the shareholders. The company does not pay dividends or distribute its unrestricted equity fund nor does it redeem its own shares.

Restricted equity


Share capital 1 Jan. 166,989 156,989

Increase of share capital 0 10,000

Share capital as of 31 Dec. 166,989 166,989

Unrestrected equity


Profit from previous financial years 1 Jan. 83,783 78,726

Adjustment due to change in accounting principles -18,224 -18,224

Retained earnings 31 Dec. 65,559 60,502

Profit/loss for the financial year 340 5,057


65,899 65,559





232,888 232,548
16 Share capital


Number of shares 982,289 982,289

Nominal value, EUR 170.00 170.00
17 Loans with maturity more than 5 years


Loans from credit institutions 37,947 36,741
18 Private placements


Private placement 2013/2018 Bullet Euribor 6 kk + 0,55 % p.a. 50,000 50,000
19 Other short-term debt


Loans from financial institutions 60,040 11,893

Derivatives 6,464 4,589

Accounts payable 726 854

Other 146 228


67,376 17,564
20 Accruals and prepaid income


Deferral of personnel expensed 1,718 1,708

Interest 568 375

Taxes 61 152

Other 37 19





2,384 2,254
 
 
Finnfund

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

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