G Shares and holdings | ||||||||||
G1 Shares and holdings in Group companies | ||||||||||
Finnvera plc | ||||||||||
31 Dec 2016 | 31 Dec 2015 | |||||||||
Name and domicile of the company | Sector | Holding of all shares, % | Share of votes, % | Book value EUR 1,000 | Holding of all shares, % | Share of votes, % | Book value EUR 1,000 | |||
Subsidiaries (holding over 50%) | ||||||||||
Seed Fund Vera Ltd, Kuopio *) | Development and investment company | 94.59 % | 94.59 % | 81,000 | ||||||
ERDF-Seed Fund Ltd, Kuopio *) | Development and investment company | 94.59 % | 94.59 % | 14,653 | 14,653 | |||||
Suomen Vientiluotto Oy, Helsinki | Export financing and interest equalisation | 100.00 % | 100.00 % | 20,182 | 100.00 % | 100.00 % | 20,182 | |||
Veraventure Ltd, Kuopio | Development and investment company | 100.00 % | 100.00 % | 48,634 | 100.00 % | 100.00 % | 48,634 | |||
*) ERDF-Seed Fund Ltd was split off from Seed Fund Vera Ltd. Following the sale of shares, Finnvera's holding in Seed Fund Vera Ltd shrunk to 19.99%, and the company is no longer included in the Group companies. | ||||||||||
G2 Subsidiaries' shares and holdings (holding over 20%) | ||||||||||
Finnvera plc | ||||||||||
Name and domicile of the company | Sector | Year | Holding of all shares, % | Share of votes, % | Equity EUR 1,000 | Profit for the year EUR 1,000 | ||||
Veraventure Oy | ||||||||||
Saimaa Capital Oy | Venture capital investments | 2016 2015 |
31,60% 36,63% |
31,60% 36,63% |
15,315 | 707 | ||||
Uudenmaan Pääomarahasto Oy | Venture capital investments | 2016 2015 |
41,13% 41,13% |
41,13% 41,13% |
12,583 | 27 | ||||
Wedeco Oy Ab | Venture capital investments | 2016 2015 |
39,80% 39,80% |
39,80% 39,80% |
13,511 | 300 | ||||
ERDF-Seed Fund Ltd | ||||||||||
Airmodus Oy | Helsinki | Other scientific research and development | 2016 |
20,13 % |
20,13 % |
|||||
Aranda Pharma Oy | Kuopio | Medical research and development | 2016 |
40,00 % |
40,00 % |
|||||
Bone Index Finland Oy | Kuopio | Medical research and development | 2016 |
34,91 % |
34,91 % |
|||||
GlowWay Oy Ltd | Pieksämäki | Manufacture of electric lighting equipment | 2016 |
24,32 % |
24,32 % |
|||||
Hapella Oy | Kiuruvesi | Wholesaling of machines used in industry | 2016 |
21,69 % |
21,69 % |
|||||
Injeq Oy | Tampere | Manufacture of radiation equipment and electronic medical and therapy equipment | 2016 |
25,23 % |
25,23 % |
|||||
Netled Oy | Honkajoki | Electrotechnical design | 2016 |
23,94 % |
23,94 % |
|||||
Norsepower Oy Ltd | Rauma | Building of ships and floating structures | 2016 |
25,17 % |
25,17 % |
|||||
Proxion Solutions Oy | Varkaus | Design and manufacture of software | 2016 |
30,89 % |
30,89 % |
|||||
Savroc Oy | Kuopio | Manufacture of products not listed elsewhere | 2016 |
20,02 % |
20,02 % |
|||||
Silvergreen Oy Ltd | Tampere | Manufacture of chemical products not listed elsewhere | 2016 |
26,61 % |
26,61 % |
|||||
Traplight Oy | Ylöjärvi | Design and manufacture of software | 2016 |
22,60 % |
23,43 % |
|||||
G3 Related party transactions, loans and receivables | ||||||||||
Related parties include the following: the parent company, its subsidiaries and associated companies; the Ministry of Economic Affairs and Employment; the Ministry of Finance; and companies outside the Finnvera Group where the State holds the majority of shares and where the Ministry of Economic Affairs and Employment exercises ownership steering. Related parties also include the members of the Supervisory Board and the Board of Directors, the Chief Executive Officer, the Deputy CEO and other members of the Management Group. The employment benefits received by key management personnel are presented in the Note F3. | ||||||||||
Finnvera Group | ||||||||||
(EUR 1,000) | 31 Dec 2016 | 31 Dec 2015 | ||||||||
Related party transactions, loans and receivables | ||||||||||
Services purchased | 5,488 | 5,451 | ||||||||
Interest subsidies, compensation for losses and other items from the State | 29,675 | 84,681 | ||||||||
Interest income | 21,703 | 16,332 | ||||||||
Interest expenses | 59,985 | 57,297 | ||||||||
Cancellations of subordinated loans | 23,063 | 3,050 | ||||||||
(EUR 1,000) | 31 Dec 2016 | 31 Dec 2015 | ||||||||
Related party transactions, loans and receivables | ||||||||||
Loans | 2,500,398 | 1,641,451 | ||||||||
Receivables | 102,767 | 72,872 | ||||||||
Long-term liabilities | 2,297,067 | 2,615,590 | ||||||||
Short-term liabilities | 102,767 | 72,872 | ||||||||
Guarantees | 3,726,849 | 4,664,348 | ||||||||
G4 Separate result of activities referred to in the Act on the State Guarantee Fund §4, and its share of the total result of Finnvera plc | ||||||||||
Finnvera plc's profit | Activities referred to in the Fund Act and their share of the profit | Finnvera plc's profit | Activities referred to in the Fund Act and their share of the profit | |||||||
(EUR 1,000) | 31 Dec 2016 | 31 Dec 2016 | 31 Dec 2015 | 31 Dec 2015 | ||||||
Interest income | 55,702 | 493 | 56,175 | 409 | ||||||
Interest expenses | -13,277 | 42,425 | 638 | 1,131 | -7,798 | 48,377 | 786 | 1,194 | ||
Fee and commission income | 164,438 | 120,484 | 157,107 | 116,277 | ||||||
Fee and commission expenses | -21,737 | 142,701 | -20,989 | 99,495 | -16,502 | 140,606 | -15,411 | 100,866 | ||
Gains and losses from financial instruments carried at fair value through profit or loss | 1,723 | -506 | -2,281 | 393 | ||||||
Net income from investments | 20 | 0 | 24 | 0 | ||||||
Other operating income | 12,617 | 291 | 2,850 | 286 | ||||||
Administrative expenses | ||||||||||
- Wages and salaries | -28,853 | -7,500 | -29,158 | -7,194 | ||||||
- Other administrative expenses | -13,555 | -42,408 | -4,691 | -12,191 | -13,025 | -42,183 | -4,028 | -11,222 | ||
Depreciation and amortization from intangible assets, property, plant and equipment | -2,326 | -585 | -1,012 | -354 | ||||||
Other operating expenses | -22,356 | -977 | -13,075 | -1,362 | ||||||
Net impairment loss on financial assets | ||||||||||
- Loans and guarantees | -26,662 | 0 | -85,459 | 0 | ||||||
- Credit loss compensation from the state | 28,272 | 0 | 82,566 | 0 | ||||||
- Export credit guarantees and special guarantees | -67,416 | -65,805 | -67,416 | -67,416 | -10,398 | -13,291 | -10,398 | -10,398 | ||
Impairment losses on other financial assets | -1,932 | 0 | -25,000 | 0 | ||||||
Operating profit | 64,659 | 19,241 | 95,014 | 79,403 |