• Solidium’s investment yield was 0.4% for the six-month review period and -14.6% for the last 12 months
  • Solidium participated in Outokumpu Oyj’s share issue with 314 million euros
  • Solidium acquired shares in Talvivaara Mining Company Plc and Outotec Oyj for a total of 142 million euros
  • Solidium received a total of 392 million euros in profit distribution from of its portfolio companies during the review period
  • Solidium sold TeliaSonera shares for a total of 451 million euros and placed 600 million euros of bonds exchangeable into shares of TeliaSonera

Solidium’s Managing Director Kari Järvinen’s comments on the review period:

“The global economy is experiencing a period of slowing growth, which together with the eurozone’s debt crisis and the downgraded growth outlooks of emerging markets is maintaining a challenging sentiment on the equity markets. Developed economies have to decrease their debt burdens, which will hamper their growth for several years. In emerging markets, consumer demand will act as the driver for economic growth.

Several of Solidium’s portfolio companies operate in heavy industry sectors, and their demand is dependent on investment growth in Europe in particular. The value of several base metals companies’ shares dropped significantly during the review period, and the best performing companies were the ones that enjoyed fairly stable demand in Finland or nearby markets.”

The complete half year report can be found here.