Financial Statements - Kuusakoski

Proposal of the BoardThe distributale funds of the Kuusakoski Group Oy amountto EUR 82.5 million, of which the net profit for the financialyear accounts for EUR 16.2 million.The Board of Directors proposes to the Annual GeneralMeeting that the distributale funds be used as follows:for payment of a divided ofEUR 175.00 per share or total of EUR 10.5 millionto be retained in shareholders´ equity EUR 72.0 millionTotalEUR 82.5 millionNo significant changes have occurred in the company´sfinancial position after the end of the financial year. Thecompany´s liquidity is good, and in the view of the Boardof the proposed distribution of finds does not risk thecompany´s financial standing.We submit these financial statements and the report ofthe Board of Directors for the financial period 1 January –31 December 2012 for the approval of the Annual GeneralMeeting.Espoo, 21 March 2013Veikko Kuusakoski, Chairman of the Board, PresidentMariella Kuusakoski-ToivolaArno PelkonenOlli VaartimoOssi VirolainenPetteri WalldénAuditor’s reportTo the Annual General Meeting of Kuusakoski Group OyWe have audited the accounting records, the financialstatements, the report of the Board of Directors, and theadministration of Kuusakoski Group Oy for the year ended31 December, 2012. The financial statements comprise theconsolidated balance sheet, income statement and cashflow statement and notes to the consolidated financialstatements, as well as the parent company’s balancesheet, income statement, cash flow statement and notesto the financial statements.Responsibility of the Board ofDirectors and the Managing DirectorThe Board of Directors and the Managing Director are responsiblefor the preparation of financial statements andreport of the Board of Directors that give a true and fairview in accordance with the laws and regulations governingthe preparation of the financial statements and thereport of the Board of Directors in Finland. The Board ofDirectors is responsible for the appropriate arrangementof the control of the company’s accounts and finances, andthe Managing Director shall see to it that the accounts ofthe company are in compliance with the law and that itsfinancial affairs have been arranged in a reliable manner.Auditor’s ResponsibilityOur responsibility is to express an opinion on the financialstatements, on the consolidated financial statements andon the report of the Board of Directors based on our audit.The Auditing Act requires that we comply with the requirementsof professional ethics. We conducted our audit inaccordance with good auditing practice in Finland. Goodauditing practice requires that we plan and perform theaudit to obtain reasonable assurance about whether thefinancial statements and the report of the Board of Directorsare free from material misstatement, and whether themembers of the Board of Directors of the parent companyor the Managing Director are guilty of an act or negligencewhich may result in liability in damages towards the companyor have violated the Limited Liability Companies Actor the articles of association of the company.An audit involves performing procedures to obtain auditevidence about the amounts and disclosures in the financialstatements and the report of the Board of Directors.The procedures selected depend on the auditor’s judgment,including the assessment of the risks of materialmisstatement, whether due to fraud or error. In makingthose risk assessments, the auditor considers internalcontrol relevant to the entity’s preparation of financial statementsand report of the Board of Directors that give atrue and fair view in order to design audit procedures thatare appropriate in the circumstances, but not for the purposeof expressing an opinion on the effectiveness of thecompany’s internal control. An audit also includes evaluatingthe appropriateness of accounting policies used andthe reasonableness of accounting estimates made by management,as well as evaluating the overall presentationof the financial statements and the report of the Board ofDirectors.We believe that the audit evidence we have obtained issufficient and appropriate to provide a basis for our auditopinion.OpinionIn our opinion, the financial statements and the report ofthe Board of Directors give a true and fair view of both theconsolidated and the parent company’s financial performanceand financial position in accordance with the lawsand regulations governing the preparation of the financialstatements and the report of the Board of Directorsin Finland. The information in the report of the Board ofDirectors is consistent with the information in the financialstatements.Helsinki, 21 March 2013KPMG OY ABJUKKA RAJALA, Authorized Public AccountantThis document is an English translation of the Finnish auditor’sreport. Only the Finnish version of the report is legally binding.29