FINANCIAL STATEMENTS AND RESOLUTIONS OF THE ANNUAL GENERAL MEETING OF SOLIDIUM OY28.8.2014
Solidium’s total investment yield was 31.3 per cent and yield on equity investments 34.1 per cent for the financial year 1 July 2013 – 30 June 2014
Solidium’s result for the financial year was EUR 1,450 million
Solidium’s Annual General Meeting resolved to distribute EUR 900 million dividends. Solidium received EUR 350 million dividends from its portfolio companies
Solidium’s net asset value increased to EUR 8.1 billion regardless of profit distribution of EUR 0.8 billion
Kari Järvinen, Managing Director of Solidium Oy, comments the financial year:
"The stock market developed particularly favorably during the financial period and the yield of Solidium’s total investments increased to 31.3 per cent. Solidium has actively supported Outokumpu and Rautaruukki in their significant transactions announced during the financial period. These transactions have been welcomed by the market with very positive reactions. The market reactions have allowed Solidium to reverse value impairments made for these holdings which contributed in the record-high result for the financial period.
Solidium has today been in operation for five years and it has established its position as a significant Finnish institutional shareholder. This five-year-period has been excellent for a long term shareholder, even considering the turbulences occurred. During the five year period, the number of companies in our portfolio has increased from 8 to 12 and the net asset value of Solidium has increased by 2.1 billion euros, even though Solidium has distributed profits to the State of Finland, in addition to the profit distribution announced today, in aggregate of 2.6 billion euros during the previous financial periods."
Further information: Managing Director Kari Järvinen, tel. +358 (0)10 830 8905
Solidium is a limited company wholly owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long term. Investment activities are based on financial analysis. The basis and core objective of Solidium’s investment strategy is proper, value-enhancing asset management of its current holdings. Through its stakes, Solidium is a minority owner in twelve listed companies: Elisa, Kemira, Metso, Outokumpu, Outotec, Sampo, SSAB AB, Stora Enso, Talvivaara Mining Company, TeliaSonera, Tieto and Valmet. The market value of Solidium’s investments is approximately 8.6 billion euros at the date of this press release. Further information: www.solidium.fi
The complete half year report can be found here:News