Annual Report 2016
Annual Report 2016
- Suomeksi
- In English
- Year 2016
- Corporate governance
- Responsibility
- Investments
- Investments
- List of investments
- Map of investments
- Investments in profitable and responsible private projects
- A channel for investing in the most difficult markets
- Banks and financial institutions
- Highlights of Finnfund's investments
- Highlights of Finnfund's investments
- Miro Forestry leads the way for Sustainable Plantation Forestry in West Africa
- Fuzu matches workers with jobs
- Financing to small and medium-sized companies in Cambodia
- EthioChicken improves food security in Ethiopia
- Solar brings electric light to Mary's family
- Textile importer focuses on quality
- Finnish company exports solar energy know-how to Egypt
- 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
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
Other supplementary information
EUR 1000
| Other contingent liabilities | ||||||
| The company has entered into two long-term lease agreements of its office. The term of the agreement A began on 1 January 2014 as a fixed-term tenancy for the first three years until 31 December 2016 after which it will continue as a periodic lease with a 12 months' notice. The agreement B began on 1 January 2016 as a fixed-term tenancy for 3 + 2 + 2 years to be terminated on 31 December 2018, 31 December 2020 or 31 December 2022 after which it will continue as a periodic lease with a 12 months' notice. Rental payments started on 1 March 2016. | ||||||
| 2016 | 2015 | |||||
| Payable in the next financial period | 517 | 441 | ||||
| Payable later | 384 | 815 | ||||
| Other commitments | ||||||
| The company acts as a lender in financial arrangements amounting to USD 16.1 million. For USD 15.1 million the risks have been contractually transferred to other financial institutions. | ||||||
| Undisbursed commitments | ||||||
| Contractual commitments | 147,000 | 131,500 | ||||
| Special risk finance (cumulative) | ||||||
| Decisions of the Board of Directors | 113,440 | 111,060 | ||||
| Government's indemnity | 50,000 | 50,000 | ||||
| Government's indemnity, % | 44% | 45% | ||||
| Disbursements | 42,517 | 26,147 | ||||
| Derivative contracts | ||||||
| Interest rate swaps < 5 years | ||||||
| Interest rate swap 1 | ||||||
| Loan principal on 10 Sept 2019: USD 3.750.000 | ||||||
| Floating interest rate: USD Libor 6 months. Fixed interest rate: 1.465%. | ||||||
| Fair value | 6,777.48 | 20,317.22 | ||||
| Interest rate swap 2 | ||||||
| Loan principal on 10 Sept 2019: USD 3.750.000 | ||||||
| Floating interest rate: USD Libor 6 months. Fixed interest rate: 1.265%. | ||||||
| Fair value | 19,369.00 | -2,300.00 | ||||
| Interest rate swap 3 | ||||||
| Loan principal on 27 May 2021: USD 12.000.000 | ||||||
| Floating interest rate: USD Libor 6 months. Floating interest rate: USD Libor 3 months + 0.1565% p.a. | ||||||
| Fair value | 20,384.00 | 0.00 | ||||
| Receivables, liabilities and transactions with related parties | ||||||
| There has been no related party transactions which come under the disclosure obligation during the financial year. | ||||||
| Off-balance sheet assets | ||||||
| As of 31 December 2016 there were EUR 745,024.27 of government's funds in the company's possession. The company manages government's funds according to the agreement with the Ministry for Foreign Affairs of the implementation of the Finnpartnership business partnership programme. | ||||||
| Exchange rate | ||||||
| 31 December 2016 | EUR/USD | 1.0541 | ||||
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