Annual review 1 2017 7 SISÄLLYS Contents Componenta in brief ................................................................................................................................................ 3 23 Classification of fair value of financial assets and liabilities ........................................................................ 60 24 Cash and cash equivalents ............................................................................................................................................. 61 CEO’s review ................................................................................................................................................................ 4 25 Share capital, share premium reserve and other reserves ....................................................................... 61 Report by the Board of Directors 2017 ......................................................................................................... 5 26 Share-based payment ..................................................................................................................................................... 62 27 Pension obligations and other benefit plans ....................................................................................................... 63 Consolidated financial statements ................................................................................................................. 17 28 Provisions................................................................................................................................................................................. 64 Consolidated income statement .................................................................................................................. 17 29 Interest-bearing liabilities............................................................................................................................................... 65 30 Reconciliation of financial liabilities to cash flow statement ...................................................................... 67 Consolidated statement of comprehensive income ......................................................................... 18 31 Current non-interest bearing liabilities .................................................................................................................. 67 19 Consolidated statement of financial position ........................................................................................ 32 Carrying values and fair values of financial assets and liabilities by category ............................... 68 Cash flow statement ........................................................................................................................................... 20 33 Capital management ......................................................................................................................................................... 68 Statement of changes in consolidated shareholders’ equity ....................................................... 21 34 Financial risk management ............................................................................................................................................ 69 Notes to the consolidated financial statements ................................................................................. 22 35 Non-Current non-interest bearing liabilities ...................................................................................................... 72 36 Other leases ............................................................................................................................................................................ 72 Accounting principles for the consolidated financial statements .............................................. 22 37 Contingent liabilities ........................................................................................................................................................... 73 Notes to the consolidated financial statements ........................................................................................................... 22 38 Related party disclosures ............................................................................................................................................... 73 1 Operating segments.......................................................................................................................................................... 41 39 Condensed Parent Company stand-alone IFRS financial information .............................................. 74 2 Business acquisitions and business divestments ........................................................................................... 44 40 Events after end of period ............................................................................................................................................. 75 3 Discontinued operations ................................................................................................................................................. 45 4 Assets classified as held for sale ................................................................................................................................ 48 Parent company financial statements ........................................................................................................ 76 5 Other operating income .................................................................................................................................................. 48 Parent company income statement ........................................................................................................... 76 6 Operating expenses .......................................................................................................................................................... 49 Parent company balance sheet .................................................................................................................... 77 7 Personnel expenses .......................................................................................................................................................... 49 8 Research and development costs ............................................................................................................................ 49 Parent company cash flow statement ...................................................................................................... 78 9 Depreciation, amortization and write-down of non-current assets ................................................... 50 Accounting principles for the financial statements ............................................................................ 79 10 Financial income and expenses .................................................................................................................................. 50 Notes to the parent company ........................................................................................................................ 82 11 Income taxes .......................................................................................................................................................................... 51 Signatures for the financial statement and board of directors’ report ..................................... 91 12 Earnings per share .............................................................................................................................................................. 51 13 Tangible assets ..................................................................................................................................................................... 52 Auditor’s Report ....................................................................................................................................................... 92 14 Goodwill ..................................................................................................................................................................................... 54 15 Intangible assets .................................................................................................................................................................. 55 Shares and shareholders ...................................................................................................................................... 99 16 Investment properties ..................................................................................................................................................... 56 Group financial development ............................................................................................................................. 100 17 Shares in associated companies ................................................................................................................................ 56 18 Financial assets ..................................................................................................................................................................... 57 Key ratios ....................................................................................................................................................................... 101 19 Non-current receivables 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