This Document Has Been Downloaded from Tampub – the Institutional Repository of University of Tampere
Total Page:16
File Type:pdf, Size:1020Kb
Load more
Recommended publications
-
Cavotec SA & Subsidiaries 2014 2013 2012 2011 2010 EUR 000’S
Annual Report 2014 Some highlights from 2014 Key figures on operations and an overview of our financial results over the past five years. A summary of all that makes Cavotec tick, on just three pages. 227.7 M 232.8 M 240 220.1 M 220 Millions EUR 190.0 M 200 180 160 145.0 M 140 120 100 80 60 40 20 0 2010 2011 2012 2013 2014 Five years in summary Ports & Maritime Airports Mining & Tunnelling General Industry Total Americas Middle East, Africa & India 24.0 M 40.4 M FY13: 32.7 M Oceania FY13: 42.8 M 14.0 M FY13: 12.6 M Far East 45.8 M Europe FY13: 46.3 M 108.7 M FY13: 93.2 M Revenues by Regions Financial information in summary Cavotec SA & Subsidiaries 2014 2013 2012 2011 2010 EUR 000’s INCOME STATEMENT ITEMS Revenue from sales of goods 232,795 227,704 220,072 189,969 144,960 Gross Operating Result (EBITDA) 17,029 15,027 21,736 17,191 15,763 Operating Result (EBIT) 12,561 10,506 17,978 12,684 12,387 Profit for the year 10,230 10,453 12,192 5,844 8,006 Total comprehensive income 11,956 4,718 13,018 7,018 11,005 BALANCE SHEET ITEMS Non-current assets 113,453 108,696 106,141 98,027 72,885 of which Goodwill 63,801 60,479 61,646 61,930 44,784 Current assets 109,485 97,013 94,271 78,762 62,538 Assets held for sales 1,800 2,213 - - - Cash and cash equivalents 17,071 13,928 10,313 12,952 12,203 Total assets 241,809 219,637 210,725 189,741 147,626 Total equity (137,903) (108,769) (106,829) (94,873) (76,807) Interest-bearing liabilities (37,083) (50,007) (34,828) (36,664) (31,878) Non-interest-bearing liabilities (66,823) (60,861) (69,067) (58,205) -
Patria - a Trusted Strategic Partner
PATRIA - A TRUSTED STRATEGIC PARTNER Copyright Patria. All rights reserved. PATRIA - A TRUSTED STRATEGIC PARTNER • Patria Aviation, Patria’s subsidiary Millog and co-owned Nammo are strategic partners of the Finnish Defence Forces in times of peace, crisis and war. • Maintenance partnerships with Norwegian, Swedish etc. defence forces. • Patria is also a supplier of defence systems (vehicles, mortars, C4ISTAR) and aerostructures to the global marketplace. • International growth opportunities exist in all these segments. Copyright Patria. All rights reserved. SINCE 1921 1921 1932 1943 1972 1979 1980 1984 1986 1986 1996 1999 1999 1999 2001 2001 2004 2006 2006 2008 2009 2010 2012 2013 > Copyright Patria. All rights reserved. Key figures Net sales* Operating profit* EUR million Gross investments in fixed assets* EUR million 589,5 EUR million 514,2 462,0 23,9 415,0 427,7 87,8 78,3 15,1 52,1 56,0 46,8 13,1 12,5 8,1 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 2011 2012 2013 2014 2015 Order Stock* EUR million Equity ratio* % Net sales outside Finland* % 1418,4 1201,7 1021,5 1056,4 48 44 55,8 56,1 780,6 49,7 49,8 31 45,3 2011 2012 54 50 2011 2012 2013 2014 215 2011 2012 2013 2014 2015 2015 2013 2014 * The years 2010–2013 pro forma due to the change of Nammo’s consolidation method. From the year 2014 onwards, in Patria’s financial statements, Nammo is consolidated using the equity method. Copyright Patria. All rights reserved. MODERN MAINTENANCE AT OPERATOR SITES Patria Aviation maintenance sites Patria and Millog sites in Finland Copyright Patria. -
Tuotettu Buketti-Järjestelmästä
MINISTRY OF FINANCE VM/2012/02.02.00.00/2018 4 April 2019 Distribution as listed GENERAL GOVERNMENT FISCAL PLAN 2020–2023 The General Government Fiscal Plan also includes Finland’s Stability Programme, and it meets the EU’s requirement for a medium-term fiscal plan. In accordance with Article 4 of Regulation 473/13, the General Government Fiscal Plan is based on independent macroeconomic and fiscal forecasts produced by the Economics Department of the Ministry of Finance. Specific information relating to the Stability Programme is presented in Appendix 5. The General Government Fiscal Plan 2020–2023 does not contain new policy lines; it is based on current legislation and it takes into account the impacts of decisions made by Prime Minister Sipilä’s Government on expenditure and revenue levels in the coming years. The Government has today, following preparatory consideration of the matter in the Ministerial Finance Committee and pursuant to section 2 of the Decree on the General Government Fiscal Plan (120/2014), section 1 of the Budget Decree (1243/1992) and the Government’s decision issued on 24 April 2003 on the principles of formulating central government spending limits proposals, budget proposals and operating and financial plans, issued the following General Government Fiscal Plan and the central government spending limits decision included within it as well as a limit for local government expenditure set by central government measures: 1. Economic challenges and the economic policy line Finland’s economy and public finances have strengthened significantly in recent years. The general government deficit has declined and the debt ratio is decreasing. -
Privatisation Potential in the European Union
Research Report Privatisation Potential in the European Union Research Report Privatisation Potential in the European Union Julia Borrmann, Markus Fichtinger, Christian Helmenstein, Georg Neumüller September 2014 Study on behalf of United Europe Contact: Christian Helmenstein Economica Institute Liniengasse 50-52 1060 Vienna / Austria Phone: +43/676/3200-401 Email: [email protected] Content Content 1 List of Tables and Figures 2 List of Tables 2 List of Figures 2 Executive Summary 3 1 Expected benefits of privatisation 5 1.1 Why do governments privatise? 5 1.2 Theoretical implications of the ownership structure 6 1.3 Empirical effects of privatisation 7 1.4 Potential scope of privatisation 8 2 Methodology 8 2.1 Scope of the study 8 2.2 Identification of the state-owned enterprises and the publicly held shares 9 2.3 Valuation of the government holdings in listed firms 10 2.4 Valuation of the government holdings in non-listed firms 11 2.5 Valuation of financial institutions 13 3 Value of government-held shares in firms 15 3.1 Value of government-held shares in listed firms 15 3.2 Value of government held shares in non-listed financial institutions 16 3.3 Value of government-held shares in non-listed firms excl. financial institutions 18 3.4 Total value of government-held shares in listed and non-listed firms 18 4 Conclusion 21 5 References 23 6 Appendix 25 1 List of Tables and Figures List of Tables Table 1: Total equity value of government shares in listed firms by country 15 Table 2: Thirty largest equity holdings in listed firms held by governments 16 Table 3: Equity value of non-listed financial institutions 17 Table 4: Total government holdings of listed and non-listed firms according to country 19 Table 5: Privatisation thresholds – three scenarios 20 Table 6: Equity value of government share in listed firms 25 Table 7: Equity value of government share in non-listed firms excl. -
Liite 2 Sidosyksiköt Suomessa Suomessa on Merkittävä Määrä Sidosyksiköitä. Yksistään Helsingin Kaupunki Omistaa Noin 9
Liite 2 1 (2) 4.10.2016 Procurement Training and Counseling Services Sidosyksiköt Suomessa Suomessa on merkittävä määrä sidosyksiköitä. Yksistään Helsingin kaupunki omistaa noin 90 yhtiötä. 1 Suomessa oli vuoden 2016 alusta 313 kuntaa 2. Valtion omistamia yhtiöitä on listattu alla. Kansainvälisille markkinoille palveluita tuottaa tai voisi tuottaa useampi valtio-omisteinen yhtiö. Esimerkiksi: CSC - Tieteen tietototekniikan keskus Oy: ” International projects and collaborative networks. CSC expands Finland's national service offering through European cooperation. CSC is a partner in many international projects and European e-infrastructure and grid projects. A list of CSC's international projects projects can be found below. CSC's international cooperation are of direct benefit to research teams in Finland.”3 Esimerkkejä kokonaan omistetuista valtionyhtiöistä 4 Omistaj Osuus Valtionyhtiö Toimiala a- Alaraja % % ohjaus 1. A-Kruunu Oy vuokra-asunnot YM 100 100 2. Arctia Shipping Oy jäänmurto VNK 100 100 3. Omaisuudenhoitoyhtiö omaisuudenhoito VM 100 0,0 Arsenal Oyj (selvitystilassa) 4. CSC – Tieteen tietotekniikan tietojenkäsittely OKM 100 100 keskus Oy 5. Finavia Oyj lentoliikenne LVM 100 100 6. Finnpilot Pilotage Oy luotsauspalvelut LVM 100 100 7. Finnvera Oyj erityisrahoituslaitos TEM 100 100 rautatieliikenteen 8. Finrail Oy VNK 100 100 ohjauspalvelut 1 Lähde: http://www.hs.fi/kaupunki/a1420951728052 2 Lähde: https://fi.wikipedia.org/wiki/Luettelo_Suomen_kunnista 3 Lähde: https://www.csc.fi/international-projects-and-collaborative-networks 4 Lähde: https://fi.wikipedia.org/wiki/Luettelo_Suomen_valtionyhti%C3%B6ist%C3%A4 Osoite Y-tunnus Puhelin Internet ja sähköposti Simonkatu 12 A 7 1916929-5 050 541 8615 www.ptcs.fi 00100 Helsinki [email protected] Finland Liite 2 2 (2) 4.10.2016 Procurement Training and Counseling Services maakaasun 9. -
Income Tax (Einkommensteuer) 1
INVENTORY LEVIED IN THE MEMBER STATES OF THE EUROPEAN UNION 16th edition — Supplement AUSTRIA FINLAND SWEDEN * »* • • • • • *** EUROPEAN COMMISSION EUROPEAN COMMISSION DIRECTORATE-GENERAL XXI CUSTOMS AND INDIRECTTAXATION DIRECTORATE-GENERAL XV INTERNAL MARKET AND FINANCIAL SERVICES Inventory of taxes levied in the Member States of the European Union by the State and the local authorities (Lander, départements, regions, districts, provinces, communes) 16TH EDITION — Supplement Austria Finland Sweden DOCUMENT A great deal of additional information on the European Union is available on the Internet. It can be accessed through the Europa server (http://europa.eu.int) Cataloguing data can be found at the end of this publication Luxembourg: Office for Official Publications of the European Communities, 1996 ISBN 92-827-6986-0 © ECSC-EC-EAEC, Brussels · Luxembourg, 1996 Printed in Luxembourg Introductory note In collaboration with the Member States, the European Commission publishes a survey of the duties and taxes in force in the Member States of the European Union. The present edition reflects the situation on 1 January 1995 in Austria, Finland and Sweden and Is a supplement to the 16th edition. This publication aims to provide all those interested in tax law — public servants, university staff, students, businessmen, tax advisers, etc.—with a general view of the tax systems of the Member States. Directorates-General XXI and XV will be pleased to receive any comments or suggestions with a view to the improvement of this work. Rue de la Loi 200 B-1040 Brussels Abbreviations M.b. — Moniteur belge B.S. = Belgisch Staatsblad BGBl. = Bundesgesetzblatt VO = Verordnung BayBS = Bayrische Bereinigte Sammlung GVBI = Gesetz- und Verordnungsblatt RGBl = Reichsgesetzblatt RAO and AO = (Reichs). -
Statement on the Corporate Governance and Steering System 2016 Finnvera’S Financial Review 2016 2
Statement on the Corporate Governance and Steering System 2016 FINNVERA’s FinanciaL REVIEW 2016 2 Statement on the Corporate Governance and Steering System Finnvera’s Financial Review 2016 Statement on the Corporate Governance and Steering System Contents Statement on the Corporate Governance and Steering System .............. 3 Acts and rules governing the operations ........................................... 3 The goals of good corporate governance ........................................... 3 Ownership and ownership policy ..................................................... 4 Administrative bodies of Finnvera ........................................ ........... 4 General Meeting of Shareholders ........................................ 4 Supervisory Board ............................................................ 4 Board of Directors ............................................................ 5 Inspection Committee of the Board of Directors ..................... 7 Remuneration Committee of the Board of Directors ................ 7 Chief Executive Officer, Management Group and Corporate Management Team ............................................. 8 Salaries and fees .......................................................................... 8 Operating principles for internal control ............................................ 9 Risk management ......................................................................... 9 Controlling the financial reporting process ........................................ 9 Compliance function ..................................................................... -
Regulator\ Reform in Finland
5HJXODWRU\ 5HIRUP LQ )LQODQG 7KH 5ROH RI &RPSHWLWLRQ 3ROLF\ LQ 5HJXODWRU\ 5HIRUP ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT Pursuant to Article 1 of the Convention signed in Paris on 14th December 1960, and which came into force on 30th September 1961, the Organisation for Economic Co-operation and Development (OECD) shall promote policies designed: to achieve the highest sustainable economic growth and employment and a rising standard of living in Member countries, while maintaining financial stability, and thus to contribute to the development of the world economy; to contribute to sound economic expansion in Member as well as non-member countries in the process of economic development; and to contribute to the expansion of world trade on a multilateral, non-discriminatory basis in accordance with international obligations. The original Member countries of the OECD are Austria, Belgium, Canada, Denmark, France, Germany, Greece, Iceland, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Turkey, the United Kingdom and the United States. The following countries became Members subsequently through accession at the dates indicated hereafter: Japan (28th April 1964), Finland (28th January 1969), Australia (7th June 1971), New Zealand (29th May 1973), Mexico (18th May 1994), the Czech Republic (21st December 1995), Hungary (7th May 1996), Poland (22nd November 1996), Korea (12th December 1996) and the Slovak Republic (14th December 2000). The Commission of the European Communities takes part in the work of the OECD (Article 13 of the OECD Convention). Publié en français sous le titre : LE ROLE DE LA POLITIQUE DE LA CONCURRENCE DANS LA RÉFORME DE LA RÉGLEMENTATION © OECD 2003. -
Annual Report Annual 2011
Annual Report 2011 www.altiacorporation.com 2 | 3 Altia annual report 2011 3 | 3 _Contents 04 32 Altia’s year Framework for sustainable 08 development CEO’s review 33 Framework and definition 10 of reporting Value in three 35 waves Financial 14 responsibility Never-ending passion 36 for brands Environmental WE THINK responsibility AHEAD 16 Brands are the core of 39 our growth IN Altia’s quality, safety GOOD and environmental COMPANY principles FAST TRACK 18 TO THE Selection of Altia’s MARKETS own brands 44 Social responsibility SHARING THE BEST 20 Fast track to the Nordic 49 MOMENTS and Baltic markets We follow responsible THIRST 22 business principles FOR Selection of Altia’s 51 GROWTH partner brands Comparing the report to the recommendation by Global 24 Reporting Initiative PASSION Industrial Services to customers 52 FOR Board of Directors BRANDS 26 Competitiveness through 54 BORN production, logistics and Executive Management sourcing Team RESPONSIBLE 30 56 Responsibility report Contact details 4 | 5 Altia annual report 2011 5 | 5 _ Leading in the Nordics and Baltics Altia is the leading wine and spirits company offering quality brands in the Nordic and Baltic countries. Altia produces, delivers, markets, sells, imports and exports alcoholic beverages in these markets. Altia’s own brands such as Blossa, Chill Out, Explorer, Renault, Grönstedts, Koskenkorva, Jaloviina, O.P. Anderson, Xanté and Key Ratios for Altia Group 2011 2010 2009 Skåne Akvavit have a strong market position and many of them a long heritage to cherish. Net sales, EUR million 524.8 487.9 407.3 Operating profit, EUR million 34.4 32.6 15.6 ( % of net sales ) 6.6 6.7 3.8 Altia’s partner brands represent both local and international Profit before taxes,EUR million 31.1 29.6 9.4 ( % of net sales) 5.9 6.1 2.3 brands from all over the world, such as Codorníu, Drostdy-Hof, Profit for the period, EUR million 21.3 25.7 5.3 Hardy’s, Jack Daniel’s, Bowmore, Nederburg, Ravenswood ( % of net sales) 4.1 5.3 1.3 Statement of financial position, and Robert Mondavi. -
Yhtiöittämisen Periaatteet Valtiolla
Valtiovarainministeriö Yhtiöittämisen periaatteet valtiolla Esiselvitys 30.1.2018 Valtionhallinnon kehittämisosasto 30.1.2018 SISÄLLYS JOHDANTO .............................................................................................................................................. 2 1 Valtion yhtiöt ja omistajapolitiikan periaatteet ................................................................................ 3 1.1 Valtion omistamisen perusta ......................................................................................................... 3 1.2 Omistajaohjaus .............................................................................................................................. 4 1.3 Valtion yhtiöt .................................................................................................................................. 6 2 Valtion liikelaitokset ..................................................................................................................... 10 2.1 Euroopan yhteisön päätös Tieliikelaitosta koskien ...................................................................... 10 2.2 Valtion liikelaitoksia koskeva lainsäädäntö .................................................................................. 12 3 Rahastot ...................................................................................................................................... 14 3.1 Valtion talousarvion ulkopuoliset rahastot ................................................................................... 14 3.2 Itsenäiset -
CLEANER ENERGY Finnish Model for the Development and Integration of Gas Transport Infrastructure
CLEANER ENERGY Finnish model for the development and integration of gas transport infrastructure Gazterm 2019 Jouni Haikarainen 02/05/2019 Jouni Haikarainen 3 CONTENT 1. Gas market integration in the Baltic Sea region 2. Security of gas supply form Finnish perspective 3. Potential for LNG supplies to Finland 4. Prospects for cooperation regarding the EU strategic infrastructure 1. Gas Market Integration in the Baltic Sea Region 02/05/2019 Jouni Haikarainen 5 BALTIC GAS MARKET INTEGRATION • Finland, Estonia and Latvia will form a common Entry-Exit 25 TWh tariff zone 2020. Finland will remain its own balancing zone. • Target to integrate the market fully – earliest 2022 • Finnish, Estonian and Latvian TSO’s signed ITC-contract in 5 TWh January – distribution of entry revenues, harmonized entry tariffs • Finland will open the gas market 2020 and give up derogation along with the commissioning of the 15 TWh Balticconnector pipeline connecting Finland to Estonia 24 TWh FINNISH GAS MARKET OPENING 2020 Finnish gas market will be opened for competition 2020 – The Natural gas market act was introduced 2017 and it has been in force since 2018. The gas transmission network will be unbundled from Gasum by 2020 using ownership unbundling model. The unbundled new TSO will be the Finnish gas transmission system operator responsible for gas transmission infrastructure and gas market services. GASUM WILL CONTINUE TO DEVELOP THE NORDIC GAS ECOSYSTEM Tornio Oulu LNG production plant Kuopio LNG terminal LNG terminal (joint project) Honkajoki Gasum, biogas Pori Lahti Gasum, biowaste and biogas Huittinen Kouvola Vehmaa Riihimäki Biogas production plant (joint project) Turku Espoo Örebro Västerås Vadsbo Risavika Katrineholm Øra Lysekil Lidköping Jordberga 2. -
Annual Report of the Director of the Mint
- S. Luriºus vsº ANNUAL REPORT Of the Director of the N/int for the fiscal year ended June 30, 1970. ANNUAL REPORT of the Director of the Mint for the fiscal year ended June 30 1970 DEPARTMENT OF THE TREASURY DOCUMENT NO. 3253 Director of the Mint U.S. GOVERNMENT PRINTING OFFICE WASHINGTON : 1971 For sale by the Superintendent of Documents, U.S. Government Printing Office Washington, D.C. 20402 - Price $1 (paper cover) Stock Number 4805–0009 LETTER OF TRANSMITTAL DEPARTMENT OF THE TREASURY, BUREAU OF THE MINT, Washington, D.C., April 29, 1971. SIR: I have the honor to submit the Ninety-eighth Annual Report of the Director of the Mint, since the Mint became a Bureau within the Department of the Treasury in 1873. Annual reports of Mint activities have been made to the Secretary of the Treasury since 1835, pursuant to the act of March 3, 1835 (4 Stat. 774). Annual reports of the Mint have been made since it was established in 1792. This report is submitted in compliance with Section 345 of the Revised Statutes of the United States, 2d Edition (1878), 31 U.S.C. 253. It includes a review of the operations of the mints, assay offices, and the bullion depositories for the fiscal year ended June 30, 1970. Also contained in this edition are reports for the calendar year 1969 on U.S. gold, silver, and coinage metal production and the world's monetary stocks of gold, silver, and coins. MARY BROOKs, Director of the Mint. Hon. JoHN B. Con NALLY, Secretary of the Treasury.