Annual Report 1999 - Kemira

NOTES TO KEMIRA OYJ FINANCIAL STATEMENTS
BALANCI SHEET (EUR million)
1999 1998
17. LONG-TERM INTEREST-BEARING LIABILITIES
Debentures and other bond loans 61.7 61.7
Loans from financial institutions 380.7 258.0
Loans from pension institutions 56.3 65.3
Other long-term liabilities 26.5 0.1
Total 525.2 385.1
Long-term interest-bearing liabilities maturing in
2001 (2000) 45.5 0.4
2002 (2001) 8.7 17.5
2003 (2002) 174.3 7.1
2004 (2003) 142.2 134.8
2005 (2004) or later 154.5 225.3
Total 525.2 385.1
Liabilities maturing in 5 years or longer
Loans from pension institutions 56.3 65.3
Other long-term liabilities 98.2 160.0
Total 154.5 225.3
Debentures and other bond loans
Loan
Loan currency
FI 0003008581 1998-2003 EUR 45.2 45.2
FI 0003008599 1998-2006 EUR 16.5 16.5
Total 61.7 61.7
The Group has no convertible bonds.
18. LONG-TERM INTEREST-FREE LIABILITIES
Pension liabilities
Uncovered liabilities of pension funds 0.1 0.1
Other pension liabilities 1.4 1.4
Transfer to other interest-free liabilities –1.5 –
Total – 1.5
19. CURRENT LIABILITIES
Interest-bearing short-term liabilities
Loans from financial institutions 87.6 101.0
Current portion of other long-term loans to
others 11.5 30.8
Other interest-bearing short-term liabilities
to Group companies 79.2 57.6
to others 39.2 13.4
Total interest-bearing short-term liabilities 217.5 202.8
Repayments of other long-term loans include EUR 0.1 million of bonds with
warrants targeted at management. Details of the issue are given on page 14.
Interest-free short-term liabilities
Accounts payable
to Group companies 0.0 0.0
to others 3.0 2.7
Total accounts payable 3.0 2.7
Accrued expenses and prepaid income
to Group companies 3.9 6.7
to others 37.4 27.2
Total accrued expenses and prepaid income 41.3 33.9
Pension liabilities
Transfer from interest-free long-term liablities 1.5 –
Change in pension liabilities –0.3 –
Total pension liabilities 1.2 –
Other interest-free liabilities to others 0.1 0.3
Total interest-free short-term liabilities 45.6 36.9
Total current liabilities 263.1 239.7
1999 1998
20. COLLATERAL AND CONTINGENT LIABILITIES
Loans secured by mortgages in the balance sheet and
for which mortgages given as collateral
Loans from pension institutions 4.3 5.0
Mortgages given 5.0 5.0
Contingent liabilities
Assets pledged
On behalf of own commitments 0.2 3.5
On behalf of Group companies 10.9 10.9
Guarantees
On behalf of Group companies
For loans 70.0 121.2
For leasing obligations 54.1 50.5
For other obligations 7.7 1.1
On behalf of associates 20.2 22.8
On behalf of others 1.9 2.2
Total 153.9 197.8
Letter of Comfort obligations 1)
On behalf of Group companies
For credits 0.2 2.0
For leasing agreements 3.7 4.5
Total 3.9 6.5
1)
Letter of Comfort obligations do not constitute a legal guarantee.
The nominal values and market values of financing instruments are included in the
Notes to the consolidated financial statements.
21. SHARES AND HOLDINGS OF KEMIRA OYJ
Holding
%
Shares in subsidiaries
Kemira Agro Oy Helsinki Finland 100
Kemira Chemicals Oy Helsinki Finland 100
Kemira Pigments Holding B.V. Rotterdam The Netherlands
1)
17.8
Kemira Metalkat Oy Helsinki Finland 100
Kemira Pigments Oy Helsinki Finland 100
Kemira Safety Oy Helsinki Finland 100
Tikkurila Oy Helsinki Finland 100
Spruce Vakuutus Oy Helsinki Finland 100
Kemira Danmark Holding A/S Fredericia Denmark 100
Other shares and holdings
Ekokem Oy Ab Finland 1.4
Forcit Oy Finland 15.4
Innopoli Oy Finland 0.7
Liikkeenjohdon koulutuskeskus Finland 2.0
Luoston Huolto Oy Finland 1.3
Tahkoluodon Polttoöljy Oy Finland 6.8
Teollisuuden Voima Oy Finland 1.9
Shares in housing and real estate companies
Shares in telephone companies
1)
The ownership of the Group is 100%.
Accrued expenses and prepaid income
From salaries 0.9 0.9
From interests and exchange differences 26.9 22.4
From taxes 7.6 6.6
From Group contribution 0.2 0.2
Other 5.7 3.8
Total 41.3 33.9
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