DOCSLIB.ORG

Financial Statements 2

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Financial Statements 2 2018 Financial Statements 2 Financial Statements 2018 Contents Board of Directors’ Report...............................................................................................................................................................................3 Five-Year Review ..................................................................................................................................................................................................16 Consolidated Income Statement ...........................................................................................................................................................18 Consolidated Statement of Comprehensive Income ...........................................................................................................18 Consolidated Balance Sheet........................................................................................................................................................................19 Consolidated Statement of Cash Flows ...........................................................................................................................................19 Statement of Changes in Equity .............................................................................................................................................................20 Accounting Policies Applied in the Preparation of the Consolidated Financial Statements ..............21 Notes to the Consolidated Financial Statements ....................................................................................................................28 Parent Company Income Statement .................................................................................................................................................51 Parent Company Balance Sheet ..............................................................................................................................................................51 Parent Company Cash Flow Statement ...........................................................................................................................................52 Accounting Policies Applied in the Preparation of Parent Company Financial Statements ...............53 Notes to the Parent Company Financial Statements ..........................................................................................................54 Definitions of Key Indicators and Financial Ratios..................................................................................................................61 Board of Directors’ Proposal for the Distribution of Profits .........................................................................................63 Auditors’ Report ....................................................................................................................................................................................................64 3 than the year before, but if you remove Key Indicators the effect of the Jyväskylä divestiture On August 28, 2018, Kildare Nordic Acquisitions S.à.r.l. announced a in November 2017, the company 2018 2017 Change, % recommended public cash tender offer on all issued and outstanding had healthy growth. Group net sales shares in Technopolis Plc. The offer period ended on October 10, 2018. decreased by 1.3% year-on-year, but IFRS like-for-like sales grew 3.1%. The main Net sales, EURm 177.4 179.7 -1.3 On November 5, the offeror announced it had commenced redemption driver was strong occupancy and Equity ratio, % 40.8 44.8 - proceedings in respect of the remaining shares in Technopolis. On robust service growth. The financial December 31, 2018, Kildare held 97.38% of all the issued and outstanding occupancy rate (FOCR) at the end shares and voting rights. of the year was 95.8% (96.1%). In the EBITDA, EURm 88.0 97.1 -9.4 Helsinki Metropolitan Area, FOCR EPRA earnings, EURm 50.8 60.6 -16.3 After the review period on February 6, 2019, Technopolis’ Board of declined year-on-year, mainly due to Directors resolved to apply for termination of trading and the delisting of the relatively low occupancy rate of the Loan-to-value (LTV), % 53.3 50.1 - the company’s shares from the official list of Nasdaq Helsinki. newly opened Ruoholahti 3 building EPRA Return on equity (rolling 12m), % 7.7 9.1 - in Helsinki. However, occupancy improved from the previous quarter. The biggest year-on-year improvements EPRA earnings / share, EUR 0.32 0.39 -16.3 in occupancy were in Oulu and Kuopio EPRA NAV / share, EUR 4.74 4.58 3.5 An eventful 2018 in Finland. EPRA NNNAV / share, EUR 4.13 4.05 1.8 At the year-end, Technopolis had eight Financial occupancy rate, % 95.8 96.1 - organic growth projects in progress. IFRS The numbers in brackets refer to the In the fourth quarter, two large ones EPRA net rental yield, % 7.2 7.2 - value in the corresponding period a • Net sales were EUR 177.4 (179.7) were initiated with an aggregate value year earlier unless otherwise stated. million, down 1.3% y-o-y of EUR 146 million: one in Espoo, EPRA (European Public Real Estate Association) earnings do not include unrealized exchange • Earnings per share were EUR 0.39 Finland and one in Vilnius, Lithuania. rate gains and losses, fair value changes or any non-recurring items, such as gains and losses on disposals. (0.46), down 16.0% Board of Directors’ Report The cumulative value of all projects in • Equity per share was EUR 4.15 progress amounts to EUR 294 million. (4.06), up 2.2% y-o-y The most significant event of 2018 was All of the organic growth projects are the announcement and subsequent strongly accretive, support internal Alternative Performance Measures completion of the acquisition of customer growth, and yield scale-based Technopolis by Kildare Nordic campus efficiencies. those, the service EBITDA margin was significant contributor at the operating • EPRA NAV per share EUR 4.74 Acquisitions S.à.r.l. It’s been a long, 16.7%, in 2018. profit level. (4.58), up 3.5% y-o-y intensive process. Both the Kildare Services are emerging as an increasingly • Financial occupancy rate was 95.8% and Technopolis teams have worked important and steadily growing part of Group EBITDA for the year was 9.4% Technopolis now has five stand-alone (96.1%) extremely hard, and as a result we the business. In 2018, service income lower than a year earlier, at EUR 88.0 UMA coworking spaces in operation, • EBITDA was EUR 88.0 (97.1) came to a satisfactory conclusion for reached EUR 28.7 million (13.1% y-o-y (97.1) million, mainly due to significant two in Helsinki, one in Stockholm, million, down 9.4% y-o-y all parties concerned. The integration growth), and represented 16.2% of the costs related to the public tender offer, one in Copenhagen and one in Oslo. • EPRA earnings EUR 50.8 (60.6) process itself has proceeded in Group net sales. The profitability of the Jyväskylä divestiture and UMA Five more are set to open in the Nordic million, down 16.3% y-o-y accordance with plans thanks in part services was significantly impacted network ramp-up costs. Like-for-like and Baltic countries in 2019 and one • EPRA earnings per share were EUR to the fact that the teams have grown by UMA network ramp-up costs, EBITDA growth was 3.6%. in Espoo, Finland in early 2020. The 0.32 (0.39) accustomed to working together. especially in the second half of the year. Board is particularly excited about the • Fair value of investment properties The EBITDA margin for services in Yield compression was the primary opening in Warsaw, Poland this year, at the end of the period was EUR Operationally, the Board is satisfied 2018 was 7.2% (10.5%) for the full year. driver behind positive fair value as it also represents entry into a new 1,606.4 million (1,537.9) with the 2018 performance. The net The costs related to UMA-ramp-up changes, which brought EUR 21.4 market for Technopolis. sales and EBITDA were slightly lower amounted to EUR 3.2 million. Excluding (28.3) million for the year, and were a 4 BOARD OF DIRECTORS’ REPORT Financial Performance Fair value changes in 2018: 2018 2017 Change, % Yield Occupancy Other Projects in Net sales, Group, EURm 177.4 179.7 -1.3 EURm requirement assumption Modernization changes progress Total Property income, EURm 148.6 154.3 -3.7 Finland 13.2 1.4 -6.7 -3.7 4.1 8.3 share of net sales, % 83.8 85.9 - Baltic Rim 4.3 -1.1 -4.0 8.7 2.7 10.5 Service income, EURm 28.7 25.4 13.1 Scandinavia 7.5 0.3 -1.9 -3.3 0.0 2.6 share of net sales, % 16.2 14.1 - TOTAL 25.0 0.6 -12.7 1.7 6.7 21.4 * Other changes include changes in projected market rents, operating expenses, exchange rates as well as inflation assumptions. EBITDA, Group, EURm 88.0 97.1 -9.4 EBITDA margin, % 49.6 54.0 - EBITDA, property, EURm 101.9 102.7 -0.8 Service income continued its positive down 9.4% year-on-year. The reasons In addition to property and service EBITDA margin, % 68.5 66.5 - trend, increasing by 13.1% year-on- for the decline were costs related to EBITDAs, Group EBITDA includes EBITDA, services, EURm 2.1 2.7 -21.8 year and amounting to EUR 28.7 (25.4) the public tender offer, the divestiture Group-level expenses. EBITDA margin, % 7.2 10.5 - million for the year. The share of service of Jyväskylä operations in November income in Group net sales, service 2017 as well as UMA ramp-up costs. At the end of the year, the fair value penetration, was 16.2% (14.1%). Service The EBITDA margin was 49.6% of Technopolis’ investment properties Operating profit, Group, EURm 105.5 121.4
Load more

Recommended publications
  • Sustainability Report 2017 EUR 1,537.9 Million Million (Change +4.4%)
    20 Sustainability Report 17 Technopolis in Short Fair value of Net Sales Investment Properties EUR 179.7 Sustainability Report 2017 EUR 1,537.9 million million (change +4.4%) Contents: CEO’s Q&A..................................................................................................................3 100% 701,900 m2 Sustainability Approach & Management ........................................4 Service Rentable Area Attitude Solid Results 2017 ............................................................................................8 Shared Workspace .........................................................................................10 6 224 Sustainable Efficiency ..................................................................................14 1,600 Customers Countries Employees Skills & Integrity .............................................................................................24 Financial Impacts in Value Chain ........................................................32 17 11 Reporting Principles and Limitations ..............................................34 Campuses Cities GRI and EPRA sBPR Index ......................................................................38 Assurance Statement .................................................................................42 Technopolis is a shared workspace expert. We provide efficient and flexible offices, coworking spaces and everything that goes with them. Our services run from designing the workspace to reception, meeting solutions, restaurants and cleaning.
    [Show full text]
  • Technopolis Oyj Tilinpäätöstiedote 2018 1
    Technopolis Oyj Tilinpäätöstiedote 2018 27.helmikuuta 2019 VAIHEIKAS VUOSI 2018 Tammi–joulukuu 2018 Loka–joulukuu 2018 IFRS IFRS Liikevaihto laski 1,3 % ja oli 177,4 (179,7) Liikevaihto oli 46,0 (45,5) milj. euroa milj. euroa Osakekohtainen tulos laski 16,0 % ja oli Vaihtoehtoiset tunnusluvut 0,39 (0,46) euroa Käyttökate laski 25,6 % ja oli 16,9 (22,7) Osakekohtainen oma pääoma kasvoi 2,2 milj. euroa % ja oli 4,15 (4,06) euroa EPRA-tulos laski 45,5 % ja oli 7,9 (14,5) milj. euroa Vaihtoehtoiset tunnusluvut Osakekohtainen tulos laski 44,5 % ja oli EPRA-nettovarallisuus kasvoi 3,5 % ja oli 0,05 (0,09) euroa 4,74 (4,58) euroa Taloudellinen vuokrausaste oli 95,8 % Sulkeissa olevat numerot viittaavat edellisvuoden vastaavaan (96,1 %) ajanjaksoon, ellei toisin ole mainittu. Käyttökate laski 9,4 % ja oli 88,0 (97,1) milj. euroa EPRA-tulos laski 16,3 % ja oli 50,8 (60,6) milj. euroa Osakekohtainen EPRA-tulos oli 0,32 (0,39) euroa Sijoituskiinteistöjen käypä arvo kauden lopussa oli 1 606,4 (1 537,9) milj. euroa KESKEISET TUNNUSLUVUT 10–12/ 10–12/ Muutos Muutos 2018 2017 % 2018 2017 % IFRS Liikevaihto milj. euroa 46,0 45,5 0,9 177,4 179,7 -1,3 Omavaraisuusaste % - - - 40,8 44,8 - Vaihtoehtoiset tunnusluvut Käyttökate (EBITDA) milj. euroa 16,9 22,7 -25,6 88,0 97,1 -9,4 EPRA tulos milj. euroa 7,9 14,5 -45,5 50,8 60,6 -16,3 Luototusaste (LTV) % - - - 53,3 50,1 - Oman pääoman tuotto % - - - 7,7 9,1 - EPRA tulos / osake euroa 0,05 0,09 -44,5 0,32 0,39 -16,3 EPRA nettovarallisuus / osake euroa - - - 4,74 4,58 3,5 EPRA oikaistu nettovarallisuus / osake euroa - - - 4,13 4,05 1,8 Taloudellinen vuokrausaste % - - - 95,8 96,1 - Nettovuokratuotto % - - - 7,2 7,2 - EPRA:n (European Public Real Estate Association) suositusten mukaisesti laskettu operatiivinen tulos ei sisällä realisoitumattomia valuuttakurssieroja, käyvän arvon muutoksia eikä kertaluonteisia eriä, kuten luovutusvoittoja tai -tappioita.
    [Show full text]
  • Vastuullisuusraportti 2016
    Vastuullisuusraportti 2016 TECHNOPOLIS IN BRIEF | VASTUULLISUUSRAPORTTI 2016 1 1 624,2 Valmiiden sijoituskiinteistöjen 100 % käyvät arvot, Palveluasenne ~1 700 milj. euroa Asiakasyritystä Vastuullisuusraportti 2016 172,1 2 20 242 12 746 400 m Työntekijää Kampusta Kaupunkia Sisällys: Liikevaihto, Vuokrattava milj. euroa 2 Toimitusjohtajalta ............................................................3 pinta-ala, m Vastuullisuus toiminnassamme ............................4 6 Vahvoja tuloksia vuonna 2016 .............................6 Maata Sidosryhmäyhteistyö ja taloudelliset vaikutukset ...........................................8 Älykkäät toimistokampukset .............................12 Kestävä tehokkuus.....................................................16 Technopolis tarjoaa parhaan osoitteen menestykseen kuudessa maassa Pohjoismaissa Pätevä ja motivoitunut henkilöstö ...............26 ja Baltiassa. Yritys kehittää, omistaa ja hallinnoi 20 älykästä yrityskeskittymää ja tar- Rehtiys ..................................................................................30 joaa moderneja muuntojoustavia tiloja sekä palveluita. Technopoliksen ydinarvona on Raportoinnin periaatteet ja rajoitukset....34 jatkuvasti ylittää asiakkaiden odotukset tarjoamalla erinomaiset puitteet ja ratkaisut GRI-indeksi ........................................................................38 1 700 yritykselle ja 50 000 työntekijälle Suomessa, Ruotsissa, Norjassa, Virossa, Venä- jällä ja Liettuassa. Technopolis Oyj:n osake (TPS1V) on listattu Nasdaq Helsingin pörssiin.
    [Show full text]
  • Presentation May 2012 Important Notice
    TECHNOPOLIS GROUP Company presentation May 2012 Important notice By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations. This presentation is confidential and may not be reproduced or redistributed to any other person. This presentation does not constitute or form part of and should not be constructed as, an offer to sell, or the solicitation or invitation of any offer to buy or subscribe for, securities of Technopolis Oyj (the "Company") in any jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investments decision whatsoever. The information contained in the presentation has not been independently verified. No representation, warranty or undertaking, expressed or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. Neither the Company nor any of its respective affiliates, advisors or representatives nor any other person shall have any liability whatsoever (in negligence or otherwise) for any loss however arising from any use of this presentation or its contents or otherwise arising in connection with the presentation. The distribution of this presentation may be restricted by law and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
    [Show full text]
  • Annual Report 2010 Technopolis Plc
    Annual Report 2010 Technopolis Plc Technopolis Plc is a listed company specializing in business environments and services for knowledge-intensive companies and organizations. The Technopolis service package combines business services and development services and in- cludes modern facilities. Approximately 20,000 people and more than 1,300 companies and organizations currently operate in Technopolis facilities in the Helsinki Metropolitan Area, Jyväskylä, Kuopio, Lappeenranta, Oulu and Tampere in Finland, St. Petersburg in Russia and Tallinn in Estonia. Technopolis Plc is quoted on the NASDAQ OMX Helsinki stock exchange. Our target is continuous profitable growth, with the aim of being a leading pro- vider of business environments and value-added services. The company’s strategy and financial objectives are as follows: The term ‘Knowledge-intensiveness’ refers to businesses in which knowledge plays a central role and is an essential element in the production, modification and transmission of information.” ”Technopolis wants operations in the premier knowledge-intensive cities in Fin- land, Russia and one or two other countries by 2015. The aim is to increase Group net sales by an average of 10 % each year. Our goal is to generate 25 % of net sales outside Finland by 2015, both organically and through acquisitions while main- taining an equity ratio of at least 35 %.” Technopolis’ aim is to pay regular annual dividends, and the company’s Board of Directors observes a stable and active dividend policy: dividends to shareholders amounting to 40 - 50 % of the company profit (excluding changes in fair value) while taking into account capital investment needs and other factors. Contents In Brief ........................................................................................................................
    [Show full text]
  • Markkinakatsaus SUOMI KEVÄT 2019 MARKKINAKATSAUS SUOMI | KEVÄT 2019
    Markkinakatsaus SUOMI KEVÄT 2019 MARKKINAKATSAUS SUOMI | KEVÄT 2019 Sisältö Catella lyhyesti JOHDANTO Catella konserni toimii taloudellisena Arviointi- ja konsultointipalvelut neuvonantajana ja varainhoitajana eri- Auktorisoidut lausunnot 2 Catella lyhyesti koistuen kiinteistö-, korko- ja pääoma- (AKA, KHK ja RICS) 3 Pääkirjoitus markkinoihin. Catellalla on johtava asema Yksittäisten kiinteistöjen arviointi 4 Investointimarkkina kiinteistösektorilla ja vahva paikallinen Portfolioiden arviointi ja analysointi 8 Euroopan toimistomarkkinat edustus Euroopassa. Catellan kiinteistö- Toimitiloihin liittyvät strategiset ja 10 Transaktioita Suomessa 2018 sektorin neuvonantopalvelut Euroopassa taloudelliset selvitykset TOIMITILAMARKKINAT kattavat kolme toimialaa; myynti- ja osto- Markkinavuokra-analyysit neuvonanto, pääomajärjestelyt sekä Markkina-alueanalyysit 11 Pääkaupunkiseutu tutkimus ja arviointi. Catellan palveluk- 14 Tampere Vuokrauspalvelut sessa on noin 600 henkilöä 14 eri maassa. 16 Turku Toimitilavuokraus Suomessa Catella on johtava neuvon- 18 Oulu Vuokrausneuvonanto ja tilavertailu antaja kiinteistömarkkinoilla työllistäen 20 Lahti Projektivuokraus ja kampanjointi 45 ammattilaista viidellä paikkakunnalla. 22 Jyväskylä Vuokralaisedustus 24 Vaasa Vuosina 2017 ja 2018 Catella teki myynti- 26 Muut kasvukeskukset puolen neuvonantoprojekteja noin miljar- din euron arvosta. MUUTA Transaktiopalvelut 28 Catellan transaktioita 2018 Yksittäisten kohteiden ja 29 Referenssit portfolioiden myynti 30 Suomen kiinteistömarkkinat Myynti- ja takaisinvuokrausjärjestelyt
    [Show full text]
  • Teliasonera 20-F
    SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) អ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2004 OR អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (NO FEE REQUIRED) For the Transaction period from to Commission File No. 000-50121 TeliaSonera AB (Exact name of Registrant as specified in its charter) Sweden (Jurisdiction of incorporation) Sturegatan 1, SE-106 63 Stockholm, Sweden (Address of principal executive offices) Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: American Depositary Shares Shares, nominal value SEK 3.20 Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None Indicate the number of outstanding shares of each of the issuer’s classes of capital or common stock as of the close of the period covered by the Annual Report: Shares, nominal value SEK 3.20: 4,675,232,069 Indicate by check mark whether the registrant (1) has filed all reports to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2), has been subject to such filing requirements for the past 90 days.
    [Show full text]
  • Technopolis Plc
    SECURITIES NOTE AND SUMMARY 1 JUNE 2015 TECHNOPOLIS PLC Listing of EUR 150,000,000 Senior Unsecured Callable Fixed Rate Notes Due May 2020 The notes are represented by units in denominations of EUR 1,000 Technopolis Plc (the “Issuer”) resolved on 21 May 2015 to issue senior unsecured notes with a principal amount of EUR 150,000,000 (the “Notes”) based on the authorization given by the Company’s Board of Direc- tors on 6 May 2015. The Notes were offered for subscription in a minimum amount of EUR 100,000 through a book-building procedure that was carried out on 21 May 2015 (the “Offering”). The Notes bear interest at the rate of 3.750 % per annum. The maturity of the Notes is on 28 May 2020, unless the Issuer prepays the Notes in accordance with the terms and conditions of the Notes (the "Terms and Conditions"). The Company has applied for the listing of the Notes (the "Listing") on the Official List of NASDAQ OMX Hel- sinki Ltd. (the “Helsinki Stock Exchange”). Public trading in the Notes is expected to commence on or about 4 June 2015 under the trading code TPSJ375018. The prospectus consists of this securities note and summary (the “Securities Note”) and Technopolis Plc’s registration document dated 15 May 2015 (the “Registration Document”) (together, the “Prospectus”). This Securities Note contains information on the Notes and the Registration Document contains information on the Company, its business operations and its financial condition. The Prospectus has been prepared solely for the purpose of admission to Listing on the Helsinki Stock Exchange and does not constitute any offering of the Notes.
    [Show full text]
  • Statement Concerning the Valuation of Investment Properties of Technopolis
    An International Associate of Technopolis Plc Statement concerning the valuation of investment properties of Technopolis Jukka Uusitalo Henri Timperi Ilkka Nissinen 26.1.2018 Muodosta pdf ”arko-työkalut” valikon pdf-napilla! (Nyt meni väärin) Assignment Assignment Summary of portfolio • Technopolis Oyj (Technopolis) and Realia Management Oy 2017-12 (Realia) reached an agreement of co-operation in November FAIR_VALUE 2010 concerning the valuation of Technopolis investment OULU 233 055 472 15 % properties. Agreement was renewed during 2015. HMA 364 932 071 23 % • This statement was requested by Heli Matero on behalf of KUOPIO 110 056 233 7 % Technopolis. TAMPERE 213 194 449 13 % • The purpose of this statement is to provide a second opinion of ST PETERSBURG 70 017 389 4 % the internal valuation made by Technopolis for financial TALLINN 141 256 934 9 % reporting purposes. VILNIUS 139 175 097 9 % OSLO 197 657 362 12 % • According to the International Financial Reporting Standards GOTHENBURG 126 596 268 8 % (IFRS), the fair value of an investment property is to be defined for financial reporting purposes. TOTAL 1 595 941 273 100 % • IAS40 is the standard, which defines the valuation of investment properties. • Definition of fair value: • The amount for which an asset could be exchanged or a 8% 15% liability settled between knowledgeable willing parties 12% OULU in an arm’s length transaction. HMA KUOPIO • Second opinion is based on the internal valuation of 9% Technopolis, Realia’s site visits, market and valuation TAMPERE knowledge and experience. 23% ST PETERSBURG TALLINN VILNIUS 9% Structure of the Statement OSLO 4% 7% GOTHENBURG • Assignment 13% • Summary of properties under valuation • Basis and procedures • Market value of the properties Realia Management Oy 26.1.2018 2 Basis and Procedure Internal valuation of Technopolis Realia’s second opinion procedure • The main valuation method is income method (10 year cash • Realia has checked the functionality of the cash flow model of flow analysis).
    [Show full text]