Annual Report 2012 - Fingrid

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17. RECEIVABLES FROM ASSOCIATED COMPANIES, 1,000 € 2012 2011 Current: Trade receivables 2,039 708 Total 2,039 708 18. PREPAYMENTS AND ACCRUED INCOME, 1,000 € 2012 2011 Interests and other financial items 18,075 21,650 Accruals of sales and purchases 8,368 5,502 Other 186 203 Total 26,629 27,355 19. UNRECORDED EXPENSES AND PAR VALUE DIFFERENTIALS ON THE ISSUE OF LOANS INCLUDED IN PREPAYMENTS AND ACCRUED INCOME, 1,000 € 2012 2011 Par value differentials 2,928 2,167 20. CASH AND CASH EQUIVALENTS, 1,000 € 2012 2011 Certificates of deposit 45,837 99,206 Commercial papers 150,996 102,100 Short term money market funds 10,000 206,833 201,306 Cash in hand and bank receivables 5,391 152 Pledged accounts 1,020 1,302 6,411 1,454 Total 213,244 202,760 21. SHAREHOLDERS’ EQUITY, 1,000 € 2012 2011 Share capital 1 Jan 55,922 55,922 Share capital 31 Dec 55,922 55,922 Share premium account 1 Jan 55,922 55,922 Share premium account 31 Dec 55,922 55,922 Profit from previous financial years 1 Jan 22,541 7,209 Dividend distribution -10,751 -6,711 Profit from previous financial years 31 Dec 11,790 498 Profit for the financial year 40,710 22,043 Shareholders’ equity 31 Dec 164,345 134,386 Distributable shareholders’ equity 52,500 22,541 140 FINGRID OYJ
Number of shares, qty Series A shares Series B shares Total 1 Jan 2012 2,078 1,247 3,325 31 Dec 2012 2,078 1,247 3,325 Series A shares confer three votes each at the Annual General Meeting and series B shares one vote each. When electing members of the Board of Directors, series A share confers 10 votes each at the Annual General Meeting and each series B share one vote each. Series B shares have the right before series A shares to obtain the annual dividend specified below from the funds available for profit distribution. After this, a corresponding dividend is distributed to series A shares. If the annual dividend cannot be distributed in some year, the shares confer a right to receive the undistributed amount from the funds available for profit distribution in the subsequent years; however so that series B shares have the right over series A shares to receive the annual dividend and the undistributed amount. Series B shares have no right to receive any other dividend. Fingrid Oyj’s Annual General Meeting decides on the annual dividend. Definition of dividend for series B shares: the amount of the annual dividend is calculated on the basis of calendar years so that the subscription price of the share, added by amounts paid in conjunction with potential increases of share capital and reduced by potential amounts paid in refunds of equity, is multiplied by the dividend percentage; however so that the minimum dividend is 6%. The dividend percentage is defined on the basis of the yield of the 30-year German Government Bond. The dividend proposal for series B shares for 2012 is 6.0 per cent. There are no minority interests. 22. ACCUMULATED PROVISIONS, 1,000 € 2012 2011 Accumulated depreciation in excess of plan, the difference between depreciation according to plan and depreciation carried out in taxation 448,897 434,542 Annual Review 2012 141
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FINGRID OYJ Annual Report 2012 2012
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Contents Fingrid in brief Fingrid
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Fingrid Oyj’s power transmission
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Fingrid’s strategy Our primary ob
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We gave as much transmission capaci
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Customers and stakeholders Accordin
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sion outage situations. The outages
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FINGRID’S STAKEHOLDERS AND MEASUR
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VARO LIIMASELKÄÄ! Market Committe
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Corporate finances Fingrid’s key
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congestion income resulting from th
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institutional investors. The compan
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Power system Fingrid’s transmissi
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As a result of numerous constructio
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Electricity market Fingrid’s effo
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tween Russia and Finland, Fingrid h
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Grid development and maintenance Fi
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WORK INPUT BY SERVICE PROVIDERS 650
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sion system in Western Finland is d
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Personnel The objective of Fingrid
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took part in the annual “Towards
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SUPPORT PROVIDED BY FINGRID’S R&D
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Environment Fingrid considers the r
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Our primary environmental impacts a
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agenda in site meetings. The preser
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our substations. According to Stati
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grid in the spring of 2012, Fingrid
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Corporate responsibility Supply of
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The objective of our procurement po
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FINGRID’S PRIMARY RESPONSIBILITY
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”Yhteisillä linjoilla”. Fingri
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4.5 Impact of organisation’s perf
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Society Management approach to soci
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Risk management The objective of Fi
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or project is evaluated and reporte
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ally, by using various limits and b
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desire to continuous personal devel
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The primary duties and principles o
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In 2012, the following remuneration
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Internal control The company’s in
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Sirpa Ojala M.Sc. (Tech.), born in
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3 Juha Kekkonen M.Sc. (Tech.), born
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Annual review and financial stateme
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tion. The difference of 0.1 million
Page 89 and 90: 2011). Interest income was 3 (4) mi
Page 91 and 92: and management of power shortage si
Page 93 and 94: property, plant and equipment. Equi
Page 95 and 96: 2. Financial statements CONSOLIDATE
Page 97 and 98: CONSOLIDATED BALANCE SHEET EQUITY A
Page 99 and 100: CONSOLIDATED CASH FLOW STATEMENT 1
Page 101 and 102: Research and development Research a
Page 103 and 104: The asset items subject to deprecia
Page 105 and 106: ITC compensation Inter-compensation
Page 107 and 108: Transmission services on the cross-
Page 109 and 110: Interest expenses on borrowings 36,
Page 111 and 112: Decreases, depreciation according t
Page 113 and 114: 20. TRADE RECEIVABLES AND OTHER REC
Page 115 and 116: Balance sheet item 31 Dec 2011 Loan
Page 117 and 118: Shareholders Number of shares qty O
Page 119 and 120: 27. BORROWINGS, 1,000 € 2012 2011
Page 121 and 122: 29. DERIVATIVE INSTRUMENTS, 1,000
Page 123 and 124: 33. LEGAL PROCEEDINGS AND PROCEEDIN
Page 125 and 126: Translation exposure, 1,000 € 201
Page 127 and 128: 31 Dec 2011 2012 2013 2014 2015 201
Page 129 and 130: PARENT COMPANY FINANCIAL STATEMENTS
Page 131 and 132: PARENT COMPANY BALANCE SHEET SHAREH
Page 133 and 134: NOTES TO THE FINANCIAL STATEMENTS O
Page 135 and 136: 4. MATERIALS AND SERVICES, 1,000
Page 137 and 138: 11. INCOME TAXES, 1,000 € 2012 20
Page 139: Other tangible assets Cost at 1 Jan
Page 143 and 144: 24. LOANS FALLING DUE FOR PAYMENT I
Page 145 and 146: 33. SEPARATION OF BUSINESSES IN ACC
Page 147 and 148: LIABILITIES Current liabilities Lia
Page 151 and 152: STOCK EXCHANGE RELEASES IN 2012 20
Page 153 and 154: Annual Review 2012 153
Page 155 and 156: Graphic design and layout: Mainos-
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Annual Report 2012 - Fingrid

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