| NOTES TO THE BALANCE SHEET (€1,000) | ||||
|---|---|---|---|---|
| Group | Parent company | |||
| 2016 | 2015 | 2016 | 2015 | |
| 9. INTANGIBLE ASSETS | ||||
| Intangible rights | ||||
| Acquisition cost 1 January | 1 254 | 1 254 | 1 240 | 1 240 |
| Increase | 205 | 0 | 5 | 0 |
| Transfer between categories | -14 | 0 | 0 | 0 |
| Acquisition cost 31 December | 1 445 | 1 254 | 1 245 | 1 240 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -180 | -120 | -180 | -120 |
| Depreciation of the financial year | -61 | -60 | -60 | -60 |
| Book value 31 December | 1 204 | 1 074 | 1 005 | 1 060 |
| Goodwill | ||||
| Acquisition cost 1 January | 6 000 | 6 000 | 0 | 0 |
| Acquisition cost 31 December | 6 000 | 6 000 | 0 | 0 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -2 800 | -2 400 | 0 | 0 |
| Depreciation of the financial year | -400 | -400 | 0 | 0 |
| Book value 31 December | 2 800 | 3 200 | 0 | 0 |
| Emission reductions | ||||
| Acquisition cost 1 January | 5 717 | 6 027 | 5 717 | 6 027 |
| Increase | 1 226 | 1 098 | 1 226 | 1 098 |
| Decrease | -1 702 | -1 407 | -1 702 | -1 407 |
| Acquisition cost 31 December | 5 241 | 5 717 | 5 241 | 5 717 |
| Book value 31 December | 5 241 | 5 717 | 5 241 | 5 717 |
| Other capitalised long-term expenses | ||||
| Acquisition cost 1 January | 13 407 | 9 294 | 3 527 | 3 490 |
| Increase | 4 486 1) | 4 112 1) | 947 | 37 |
| Transfer between categories | 14 | 0 | 0 | 0 |
| Acquisition cost 31 December | 17 907 | 13 407 | 4 474 | 3 527 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -4 884 | -4 065 | -2 729 | -2 367 |
| Depreciation of the financial year | -1 084 | -818 | -396 | -362 |
| Book value 31 December | 11 939 | 8 523 | 1 349 | 798 |
| Intangible assets in total | ||||
| Acquisition cost 1 January | 26 378 | 22 575 | 10 485 | 10 757 |
| Increase | 5 917 | 5 210 | 2 177 | 1 135 |
| Decrease | -1 702 | -1 407 | -1 702 | -1 407 |
| Acquisition cost 31 December | 30 593 | 26 378 | 10 960 | 10 485 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -7 864 | -6 585 | -2 909 | -2 487 |
| Depreciation of the financial year | -1 546 | -1 278 | -456 | -422 |
| Book value 31 December | 21 182 | 18 514 | 7 595 | 7 576 |
| 10. TANGIBLE ASSETS | ||||
| Land areas | ||||
| Acquisition cost 1 January | 5 274 | 4 910 | 2 496 | 2 448 |
| Increase | 617 | 196 | 33 | 48 |
| Decrease | -3 | 0 | 0 | 0 |
| Transfer between categories | 228 | 168 | 0 | 0 |
| Acquisition cost 31 December | 6 116 | 5 274 | 2 529 | 2 496 |
| Book value 31 December | 6 116 | 5 274 | 2 529 | 2 496 |
| Revaluation included in the | ||||
| acquisition cost of land areas | ||||
| Revaluation 1 January | 1 682 | 1 682 | 1 682 | 1 682 |
| Revaluation 31 December | 1 682 | 1 682 | 1 682 | 1 682 |
| The revaluation is based on the presumable transfer price. | ||||
| Deferred tax share of the revaluation | 336 | 336 | 336 | 336 |
| Peat resources | ||||
| Acquisition cost 1 January | 977 | 0 | 0 | 0 |
| Increase | 121 | 977 | 0 | 0 |
| Acquisition cost 31 December | 1 097 | 977 | 0 | 0 |
| Depreciation of the financial year | -27 | 0 | 0 | 0 |
| Book value 31 December | 1 070 | 977 | 0 | 0 |
| Buildings | ||||
| Acquisition cost 1 January | 35 156 | 18 703 | 5 454 | 5 199 |
| Increase | 13 405 1) | 16 454 1) | 553 | 256 |
| Decrease | -93 | 0 | -93 | 0 |
| Acquisition cost 31 December | 48 469 | 35 156 | 5 914 | 5 454 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -7 901 | -6 791 | -4 156 | -4 032 |
| Accumulated depreciation | ||||
| from deduction | 93 | 0 | 93 | 0 |
| Depreciation of the financial year | -1 614 | -1 110 | -134 | -124 |
| Book value 31 December | 39 046 | 27 255 | 1 716 | 1 298 |
| Machinery and equipment | ||||
| Acquisition cost 1 January | 190 600 | 112 393 | 14 313 | 13 058 |
| Increase | 59 743 1) | 78 305 1) | 3 372 | 1 283 |
| Decrease | -579 | -97 | 0 | -28 |
| Acquisition cost 31 December | 249 764 | 190 600 | 17 685 | 14 313 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -40 701 | -33 194 | -8 605 | -8 248 |
| Accumulated depreciation | ||||
| from deduction | 27 | 73 | 0 | 28 |
| Depreciation of the financial year | -10 494 | -7 579 | -398 | -385 |
| Book value 31 December | 198 597 | 149 900 | 8 681 | 5 707 |
| Book value share of the | ||||
| machinery and equipment used for production | 197 815 | 148 481 | 8 409 | 5 389 |
| 1) Increases mainly wind power investments | ||||
| Transmission network | ||||
| Acquisition cost 1 January | 45 801 | 41 219 | 42 467 | 37 885 |
| Increase | 10 464 | 4 582 | 10 464 | 4 582 |
| Decrease | -1 394 | 0 | -1 394 | 0 |
| Acquisition cost 31 December | 54 870 | 45 801 | 51 537 | 42 467 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -15 139 | -13 252 | -14 355 | -12 749 |
| Accumulated depreciation | ||||
| from deduction | 32 | 0 | 32 | 0 |
| Depreciation of the financial year | -1 987 | -1 887 | -1 706 | -1 606 |
| Book value 31 December | 37 776 | 30 662 | 35 508 | 28 112 |
| Other tangible assets | ||||
| Acquisition cost 1 January | 1 081 | 1 081 | 0 | 0 |
| Acquisition cost 31 December | 1 081 | 1 081 | 0 | 0 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -501 | -429 | 0 | 0 |
| Depreciation of the financial year | -72 | -72 | 0 | 0 |
| Book value 31 December | 507 | 580 | 0 | 0 |
| Pending peat acquisitions | ||||
| Acquisition cost 1 January | 4 534 | 5 068 | 0 | 0 |
| Increase | 989 | 391 | 0 | 0 |
| Decrease | -313 | -757 | 0 | 0 |
| Transfer between categories | -228 | -168 | 0 | 0 |
| Acquisition cost 31 December | 4 982 | 4 534 | 0 | 0 |
| Book value 31 December | 4 982 | 4 534 | 0 | 0 |
| Advance payments and acquisitions in progress | ||||
| Acquisition cost 1 January | 76 548 | 67 651 | 1 028 | 407 |
| Increase | 30 405 | 63 884 | 54 | 651 |
| Decrease | -57 510 | -54 986 | -878 | -30 |
| Acquisition cost 31 December | 49 443 | 76 548 | 204 | 1 028 |
| Book value 31 December | 49 443 | 76 548 | 204 | 1 028 |
| Tangible assets in total | ||||
| Acquisition cost 1 January | 359 970 | 251 024 | 65 758 | 58 997 |
| Increase | 115 744 | 164 787 | 14 476 | 6 819 |
| Decrease | -59 891 | -55 841 | -2 365 | -58 |
| Acquisition cost 31 December | 415 823 | 359 970 | 77 869 | 65 758 |
| Accumulated depreciation | ||||
| and impairment charges 1 January | -64 242 | -53 666 | -27 117 | -25 030 |
| Accumulated depreciation | ||||
| from deduction | 152 | 73 | 124 | 28 |
| Depreciation of the financial year | -14 196 | -10 649 | -2 239 | -2 115 |
| Book value 31 December | 337 537 | 295 729 | 48 638 | 38 641 |
| 11. CAPITALISED INTEREST COSTS | ||||
| Capitalised during the financial year | 1 374 | 828 | 0 | 0 |
| Including capital interest costs | ||||
| Advance payments and acquisitions in progress | 956 | 465 | 0 | 0 |
| Other long-term expenses | 73 | 50 | 0 | 0 |
| Buildings and construction | 336 | 191 | 0 | 0 |
| Machinery and equipment | 2 464 | 1 888 | 0 | 0 |
| 3 829 | 2 594 | 0 | 0 | |
| 12. INVESTMENTS | ||||
| Interest in group companies | ||||
| Acquisition cost 1 January | 264 | 264 | 90 131 | 59 891 |
| Increase | 0 | 0 | 33 537 | 34 000 |
| Decrease | 0 | 0 | 0 | -3 760 |
| Acquisition cost 31 December | 264 | 264 | 123 668 | 90 131 |
| Book value 31 December | 264 | 264 | 123 668 | 90 131 |
| Interest in associated companies | ||||
| Acquisition cost 1 January | 171 252 | 175 142 | 159 855 | 164 447 |
| Increase | 1 714 | 705 | 1 625 | 0 |
| Decrease | -8 560 | -4 595 | -7 561 | -4 593 |
| Acquisition cost 31 December | 164 407 | 171 252 | 153 919 | 159 855 |
| Book value 31 December | 164 407 | 171 252 | 153 919 | 159 855 |
| Other holdings and interests | ||||
| Acquisition cost 1 January | 12 007 | 10 851 | 12 007 | 10 851 |
| Increase | 0 | 1 156 | 0 | 1 156 |
| Decrease | -3 666 | 0 | -3 666 | 0 |
| Acquisition cost 31 December | 8 341 | 12 007 | 8 341 | 12 007 |
| Book value 31 December | 8 341 | 12 007 | 8 341 | 12 007 |
| Investments in total | ||||
| Acquisition cost 1 January | 183 522 | 186 256 | 261 992 | 235 190 |
| Increase | 1 714 | 1 861 | 35 163 | 35 156 |
| Decrease | -12 226 | -4 595 | -11 227 | -8 353 |
| Acquisition cost 31 December | 173 012 | 183 522 | 285 928 | 261 992 |
| Book value 31 December | 173 012 | 183 522 | 285 928 | 261 992 |
| NOTES TO THE BALANCE SHEET (€1,000) | ||||||
|---|---|---|---|---|---|---|
| INVESTMENTS | ||||||
| Company name | Domicile | Group interest % | Group voting share % | Parent company interest % | Holdings of parent company | |
| Pcs. | Book value | |||||
| Holdings in group companies | ||||||
| EPV Alueverkko Oy | Vaasa | 100,0 | 100,0 | 100,0 | 150 | 3 |
| EPV Bioturve Oy | Vaasa | 100,0 | 100,0 | 100,0 | 1 000 | 6 150 |
| EPV Tase Oy | Vaasa | 100,0 | 100,0 | 100,0 | 500 | 500 |
| EPV Tuulivoima Oy (A) | Vaasa | 100,0 | 100,0 | 100,0 | 1 000 | 4 750 |
| EPV Tuulivoima Oy (B) | Vaasa | 100,0 | 100,0 | 100,0 | 5 200 | 25 933 |
| EPV Tuulivoima Oy (C) | Vaasa | 100,0 | 100,0 | 100,0 | 4 700 | 23 500 |
| EPV Tuulivoima Oy (D) | Vaasa | 100,0 | 100,0 | 100,0 | 8 000 | 40 000 |
| Tornion Voima Oy | Tornio | 100,0 | 100,0 | 100,0 | 7 500 | 15 008 |
| Vaskiluodon Teollisuuskiinteistöt Oy | Vaasa | 100,0 | 100,0 | 100,0 | 4 000 | 264 |
| EPV Teollisuusverkot Oy (A) | Vaasa | 90,0 | 90,0 | 90,0 | 90 | 3 |
| Rajakiiri Oy (A) | Tornio | 60,2 | 60,2 | 60,2 | 9 431 | 3 313 |
| Rajakiiri Oy (A2) | Tornio | 75,1 | 75,1 | 75,1 | 5 010 | 3 757 |
| Rajakiiri Oy (B) | Tornio | 75,2 | 75,2 | 75,2 | 752 | 489 |
| Holdings in associated companies | ||||||
| EPM Metsä Oy | Vaasa | 50,0 | 50,0 | 50,0 | 200 000 | 174 |
| Rapid Power Oy | Vaasa | 50,0 | 50,0 | 50,0 | 5 000 | 26 804 |
| Suomen Merituuli Oy | Helsinki | 50,0 | 50,0 | 50,0 | 1 000 | 1 000 |
| Vaskiluodon Voima Oy | Vaasa | 50,0 | 50,0 | 50,0 | 300 | 505 |
| Raahen Voima Oy | Raahe | 25,0 | 25,0 | 25,0 | 675 625 | 8 376 |
| Voimapiha Oy (A) | Helsinki | 16,7 | 32,7 | 16,7 | 200 000 | 20 000 |
| Pohjolan Voima Oy (A) | 692 549 | |||||
| Pohjolan Voima Oy (B) | 230 558 | |||||
| Pohjolan Voima Oy (B2) | 250 275 | |||||
| Pohjolan Voima Oy (C2) | 11 624 | |||||
| Pohjolan Voima Oy (C) | 318 041 | |||||
| Pohjolan Voima Oy (M) | 9 355 | |||||
| Pohjolan Voima Oy (V) | 224 735 | |||||
| 5,5 | 1 737 137 | 35 447 | ||||
| Pohjolan Voima Oy (B2) *) | 47 143 | 2 640 | ||||
| Teollisuuden Voima Oyj (A) | 44 562 213 | |||||
| Teollisuuden Voima Oyj (B) | 44 562 203 | |||||
| Teollisuuden Voima Oyj (C) | 2 246 704 | |||||
| 6,6 | 91 371 120 | 58 974 | ||||
| Other shares and holdings owned by the parent company | ||||||
| Suomen Energiavarat Oy (A) | Vaasa | 100,0 | 4 400 | 3 | ||
| Suomen Energiavarat Oy (B) | Vaasa | 3,9 | 1 176 | 4 998 | ||
| Manga LNG Oy | 5,0 | 1 389 885 | 1 818 | |||
| Innopower Oy (A,C) | 9,8 | 12 580 | 1 280 | |||
| Powest Oy (E) | 1,0 | 13 206 | 89 | |||
| Others | 153 | |||||
| 285 928 | ||||||
| *) share subscription | ||||||
| NOTES TO THE BALANCE SHEET (€1,000) | ||||
|---|---|---|---|---|
| Group | Parent company | |||
| 2016 | 2015 | 2016 | 2015 | |
| 13. INVENTORIES | ||||
| Power plant fuels | 5 563 | 6 186 | 0 | 0 |
| 14. NON-CURRENT RECEIVABLES | ||||
| Loan receivables | 31 411 | 31 411 | 31 411 | 31 411 |
| Unpaid equity capital 1) | 3 277 | 31 123 | 3 277 | 31 123 |
| Other long-term receivables | 567 | 509 | 327 | 408 |
| 35 255 | 63 043 | 35 015 | 62 942 | |
| Receivables from associated companies | ||||
| Loan receivables | 31 410 | 31 410 | 31 410 | 31 410 |
| 15. CURRENT RECEIVABLES | ||||
| Trade receivables | 29 268 | 32 001 | 13 007 | 17 963 |
| Loan receivables | 0 | 0 | 6 489 | 4 133 |
| Unpaid equity capital 1) | 27 846 | 56 000 | 27 846 | 56 000 |
| Prepayments and accrued income *) | 10 784 | 10 877 | 2 807 | 3 147 |
| Other receivables | 8 138 | 5 006 | 2 178 | 115 |
| 76 036 | 103 884 | 52 327 | 81 358 | |
| 1) Share issue receivables concerning wind power investments and the OL3 project. | ||||
| Receivables from group companies | ||||
| Trade receivables | - | - | 1 | 1 |
| Loan receivables | - | - | 6 489 | 4 132 |
| Prepayments and accrued income | - | - | 0 | 103 |
| Other receivables | - | - | 47 | 63 |
| - | - | 6 537 | 4 299 | |
| Receivables from associated companies | ||||
| Trade receivables | 4 343 | 2 841 | 31 | 29 |
| Prepayments and accrued income | 0 | 2 942 | 0 | 2 942 |
| Other receivables | 494 | 19 | 238 | 19 |
| 4 837 | 5 803 | 269 | 2 990 | |
| *) Constituents of prepayments and accrued income | ||||
| Accrued electricity purchases | 2 726 | 2 912 | 2 726 | 2 912 |
| Accrued electricity and heat sales | 821 | 533 | 0 | 0 |
| Accrued energy support | 6 299 | 6 913 | 0 | 0 |
| Others | 938 | 520 | 81 | 235 |
| 10 784 | 10 877 | 2 807 | 3 147 | |
| 16. SHAREHOLDERS' EQUITY | ||||
| Restricted shareholders' equity | ||||
| Equity capital 1 January | 12 459 | 12 193 | 12 459 | 12 193 |
| Increase in equity capital | 618 | 266 | 618 | 266 |
| Returned to shareholders | -116 | 0 | -116 | 0 |
| Equity capital 31 December | 12 961 | 12 459 | 12 961 | 12 459 |
| Share issue 1 January | 1 589 | 764 | 1 589 | 764 |
| Unregistered equity capital | 0 | 1 262 | 0 | 1 262 |
| Transfer to equity capital | -618 | -68 | -618 | -68 |
| Expiration of underwriting | -42 | -369 | -42 | -369 |
| Share issue 31 December | 929 | 1 589 | 929 | 1 589 |
| Share premium reserve 1 January | 57 850 | 57 850 | 57 850 | 57 850 |
| Returned to shareholders | -5 917 | 0 | -5 917 | 0 |
| Share premium reserve 31 December | 51 933 | 57 850 | 51 933 | 57 850 |
| Revaluation reserve 1 January | 1 245 | 1 245 | 1 245 | 1 245 |
| Revaluation reserve 31 December | 1 245 | 1 245 | 1 245 | 1 245 |
| Statutory reserve 1 January | 5 273 | 5 273 | 5 273 | 5 273 |
| Statutory reserve 31 December | 5 273 | 5 273 | 5 273 | 5 273 |
| Total restricted shareholders' equity | 72 340 | 78 415 | 72 340 | 78 415 |
| Unrestricted shareholders' equity | ||||
| Invested unrestricted equity reserve 1 January | 207 032 | 141 090 | 207 032 | 141 090 |
| Investment in the invested unrestricted equity reserve | 0 | 83 323 | 0 | 83 323 |
| Transfer from profit funds | 0 | 3 928 | 0 | 3 928 |
| Returned to shareholders | -6 682 | 0 | -6 682 | 0 |
| Expiration of underwriting | -2 458 | -21 310 | -2 458 | -21 310 |
| Invested unrestricted equity reserve 31 December | 197 892 | 207 032 | 197 892 | 207 032 |
| Retained result 1 January | 74 272 | 66 326 | 19 435 | 23 363 |
| Investment in the invested unrestricted equity reserve | 0 | -3 928 | 0 | -3 928 |
| Retained result 31 December | 74 272 | 62 398 | 19 435 | 19 435 |
| Result of the financial year | 1 603 | 11 874 | -3 608 | 0 |
| Total unrestricted shareholders' equity | 273 767 | 281 303 | 213 719 | 226 466 |
| TOTAL SHAREHOLDERS' EQUITY | 346 107 | 359 718 | 286 059 | 304 882 |
| Depreciation difference | ||||
| Depreciation difference share entered under equity capital | 51 061 | 45 080 | - | - |
| Calculation of distributable equity 31 December | ||||
| Retained result | - | - | 19 435 | 19 435 |
| Result of the financial year | - | - | -3 608 | 0 |
| Invested unrestricted equity reserve | - | - | 197 892 | 207 032 |
| - | - | 213 719 | 226 467 | |
| The dividend yields from 2012 have been utilised according to the decisions concerning share issues. | ||||
| NOTES TO THE BALANCE SHEET (€1,000) | ||
|---|---|---|
| Equity capital according to series of shares | pcs | 1 000 € |
| A1-series *) | ||
| - The shares in the A and B series of the company Teollisuuden Voima Oyj or other shares replacing these entitle the holder to electricity generated by means of nuclear power at the Olkiluoto 1, Olkiluoto 2 and Olkiluoto 3 nuclear power plant units | 3 532 599 | 6 005 |
| A2-series | ||
| - The shares in the B series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated by means of nuclear power at the Olkiluoto 1 and Olkiluoto 2 nuclear power plant units of Teollisuuden Voima Oyj | 250 000 | 425 |
| A3-series *) | ||
| - The shares in the B2 series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated by means of nuclear power at the Olkiluoto 3 nuclear power plant unit of Teollisuuden Voima Oyj | 569 699 | 968 |
| B-series | ||
| - The shares in the C series of the company Teollisuuden Voima Oyj and the shares in the C2 series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated mainly at the Meri-Pori coal power plant | 64 653 | 110 |
| C-series | ||
| - The shares in the M series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated by Mussalon Voima Oy | 20 517 | 35 |
| D1-series | ||
| - The shares in the company Vaskiluodon Voima Oy or other shares replacing these entitle the holder to electricity generated at the thermal power plant units in Vaasa and Seinäjoki | 562 500 | 956 |
| D2-series | ||
| - The shares in the V series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated at the power plants of Vaskiluodon Voima Oy in Vaasa and Seinäjoki | 113 091 | 192 |
| E1-series | ||
| - The shares in the A series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated in Finland by means of hydropower | 543 375 | 924 |
| E2-series | ||
| - The shares entitle the holder to the electricity supplied by the partnership company Rapid Power Oy, generated by means of hydropower in Norway and transmitted to Finland | 265 440 | 451 |
| E3-series | ||
| - The shares in the A series of the company Voimapiha Oy or other shares replacing these entitle the holder to electricity generated mainly by means of hydropower in Sweden | 110 000 | 187 |
| F-series | ||
| - The shares in the C series of the company Pohjolan Voima Oy or other shares replacing these entitle the holder to electricity generated at the power plants in Tahkoluoto and Kristinestad | 197 964 | 337 |
| G-series | ||
| - The shares entitle the holder to profits not included in the other series, and the liability to pay for the costs of these | 302 400 | 514 |
| M-series | ||
| - The shares in the M series of the company Manga LNG Oy or other shares replacing these entitle the holder to generated liquefied natural gas (LNG) | 6 000 | 10 |
| P1-series | ||
| - The shares entitle the holder to the emission reduction rights acquired from a third party and obligate the holder to compensate for the fixed costs of the company concerned arising from the acquisition of the rights in relation to the holder's shares in the P1 series, as well as for the variable costs in relation to the received rights | 74 000 | 126 |
| P2-series | ||
| - The shares entitle the holder to the emission reduction rights acquired from a third party, based on acquisition decisions made in 2011 or at a later date, and obligate the holder to compensate for the fixed costs of the company concerned arising from the acquisition of the rights in relation to the holder's shares in the P2 series, as well as for the variable costs in relation to the received rights | 43 800 | 74 |
| T1-series | ||
| - The shares in the company Tornion Voima Oy or other shares replacing these entitle the holder to electricity generated by means of thermal power at the power plant in Tornio | 120 000 | 204 |
| T2-series | ||
| - The shares in the company Raahen Voima Oy or other shares replacing these entitle the holder to electricity generated by means of CHP at the power plant in Raahe | 49 531 | 84 |
| W1-series | ||
| - The shares in the A and C series of the company Innopower Oy and the shares in Rajakiiri Oy or other shares replacing these entitle the holder to electricity generated by means of wind power | 86 971 | 148 |
| W2-series | ||
| - The shares in the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power | 47 456 | 81 |
| W3-series | ||
| - The shares in the company Suomen Merituuli Oy or other shares replacing these entitle the holder to electricity generated by means of wind power | 4 987 | 8 |
| W4-series | ||
| - The shares in the B series of the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power | 259 325 | 441 |
| W5-series *) | ||
| - The shares in the C series of the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power | 200 000 | 340 |
| W6-series *) | ||
| - The shares in the D series of the company EPV Tuulivoima Oy or other shares replacing these entitle the holder to electricity generated by means of wind power | 200 000 | 340 |
| 7 624 308 | 12 961 | |
| The shareholders in each of the series are responsible for the fixed costs of the series in relation to their holdings and for the variable costs in relation to the amount of energy supplied | ||
| NOTES TO THE BALANCE SHEET (€1,000) | |||||
|---|---|---|---|---|---|
| *) Unregistered share issues | |||||
| Date of General Shareholders' Meeting | Series of shares | Directed share issue | |||
| Number pcs | Total subsciption price €1,000 | Share capital €1,000 | Invested unrestricted equity reserve €1,000 | ||
| Unpaid | |||||
| 31.5.2013 | A1 | 98 299 | 9 830 | 167 | 9 663 |
| 31.5.2013 | A3 | 30 787 | 3 079 | 52 | 3 026 |
| 18.12.2015 | W6 | 182 140 | 18 214 | 310 | 17 904 |
| Maksetut | |||||
| 28.5.2015 | W5 | 35 000 | 3 500 | 60 | 3 441 |
| 18.12.2015 | W6 | 200 000 | 20 000 | 340 | 19 660 |
| 546 226 | 54 623 | 929 | 53 694 | ||
| NOTES TO THE BALANCE SHEET (€1,000) | ||||
|---|---|---|---|---|
| Group | Parent company | |||
| 2016 | 2015 | 2016 | 2015 | |
| 17. ACCUMULATED APPROPRIATIONS | ||||
| Depreciation difference of | ||||
| deferred tax liabilities | 13 686 | 12 155 | 3 935 | 3 544 |
| 18. NON-CURRENT LIABILITIES | ||||
| Bank loans | 211 386 | 197 987 | 29 500 | 31 500 |
| Other non-current liabilities | 69 295 | 70 606 | 67 455 | 68 766 |
| 280 681 | 268 593 | 96 955 | 100 266 | |
| Liabilities to group companies | ||||
| Other non-current liabilities | - | - | 150 | 0 |
| Liabilities to associated companies | ||||
| Other non-current liabilities | 69 105 | 70 566 | 67 305 | 68 766 |
| Liabilities which are due later | ||||
| than after five years | ||||
| Bank loans | 14 396 | 17 465 | 0 | 0 |
| Other non-current liabilities/span> | 67 305 | 66 126 | 67 305 | 66 126 |
| 81 701 | 83 591 | 67 305 | 66 126 | |
| 19. CURRENT LIABILITIES | ||||
| Bank loans | 26 469 | 21 069 | 10 000 | 8 000 |
| Advances received | 325 | 807 | 0 | 0 |
| Trade payables | 26 124 | 28 915 | 15 632 | 21 039 |
| Accruals and deferred income*) | 6 925 | 6 490 | 5 138 | 5 019 |
| Other current liabilities | 11 902 | 6 185 | 14 416 | 21 134 |
| 71 745 | 63 466 | 45 186 | 55 192 | |
| Liabilities to group companies | ||||
| Trade payables | - | - | 1 448 | 904 |
| Other current liabilitiest | - | - | 11 406 | 20 000 |
| - | - | 12 854 | 20 904 | |
| Liabilities to associated companies | ||||
| Trade payables | 13 417 | 19 046 | 12 725 | 18 776 |
| Accruals and deferred income | 0 | 3 294 | 0 | 3 294 |
| Other current liabilities | 3 011 | 528 | 3 011 | 528 |
| 16 428 | 22 868 | 15 736 | 22 598 | |
| *) The constituents of prepayments and accrued income | ||||
| Electricity sales | 3 634 | 3 498 | 3 634 | 3 368 |
| Electricity purchases | 264 | 144 | 0 | 0 |
| Interest expenses | 1 434 | 1 365 | 860 | 927 |
| Accrued personnel expenses | 898 | 899 | 634 | 681 |
| Muut | 695 | 584 | 10 | 43 |
| 6 925 | 6 490 | 5 138 | 5 019 | |
| 20. COMMITMENTS | ||||
| Account limit agreements | ||||
| Total amount of granted limit | 37 000 | 32 000 | 13 000 | 13 000 |
| Available | 6 613 | 3 346 | 0 | 0 |
| Leasing contract payments | ||||
| Payments during the following financial year | 29 | 20 | 21 | 11 |
| Fees to be paid later | 14 | 20 | 12 | 11 |
| 43 | 40 | 33 | 22 | |
| Guarantees | ||||
| For associated companies' liabilities | 9 471 | 9 019 | 9 471 | 9 019 |
| For other companies' liabilities | 1 610 | 1 610 | 1 610 | 1 610 |
| Other commitments | ||||
| For the group company | 110 586 | 146 168 | 110 586 | 146 168 |
| Other own commitments | 25 579 | 25 556 | 22 145 | 22 145 |
| The parent company has a 5-year long-term rental agreement for its facilities. The rental period began on 1 January 2015. According to the agreement, the company assumes rental liability. | ||||
| The parent company has a 5-year long-term rental agreement for its facilities. The rental period began on 1 January 2015. According to the agreement, the company assumes rental liability. | ||||
| 21. DERIVATIVE AGREEMENTS | ||||
| Interest rate swaps (nominal value) | 293 300 | 226 000 | 113 000 | 130 000 |
| Fair value | -7 524 | -5 946 | -3 560 | -3 585 |
| Electricity derivatives | ||||
| Amount GWh | 43,8 | 87,7 | 0,0 | 0,0 |
| Fair value (€1,000) | -524 | -1 831 | 0 | 0 |
| According to the company’s financing policy, it only concludes derivative agreements with the purpose of hedging. The interest rate risk is hedged through interest rate swap agreements by converting floating rate loans into fixed interest rate loans. The hedging relationships are substantially efficient; in other words, the terms of the hedged risk and hedging instrument are well matched. Documents have been prepared on these hedging relationships, showing comprehensively the hedged risks and their hedging instruments and demonstrating their effectiveness. | ||||
| The target of electricity derivatives is to hedge the cash flow created after the transfer to the feed-in tariff in 2012. The agreement will expire in 2017. | ||||
| 22. EMISSIONS RIGHTS | ||||
| Emissions trading period | 2016-2020 | 2015-2020 | ||
| tn CO2 | tn CO2 | |||
| Granted emission rights | 500 161 | 684 073 | ||
| Annual level allocation | 107 110 | 128 499 | ||
| Emission rights utilisation | 2016 | 2015 | ||
| tn CO2 | tn CO2 | |||
| Emissions | 252 846 | 251 383 | ||
| Gratuitous emission rights 1 January *) | -107 110 | -128 499 | ||
| Purchased emission rights | -105 000 | -100 000 | ||
| Purchased emission right reductions (CER) | 0 | -37 727 | ||
| Deficit (+) / surplus (-) | 40 736 | -14 843 | ||
| Gratuitous granted emission rights available on 31 December | 595 939 | 759 272 | ||
