Norvestia
NORVESTIA’S NET ASSET VALUE DECREASED BY 1.0% IN JUNE
DGAP-News: Norvestia 2015-07-10 / 10:30 --------------------------------------------------------------------- Helsinki, Finland, 2015-07-10 10:30 CEST (GLOBE NEWSWIRE) -- Norvestia Oyj Stock exchange release 10 July 2015 at 11:30 NORVESTIA'S NET ASSET VALUE DECREASED BY 1.0% IN JUNE Return on NAV, 1 month -1.0% Return on NAV, since beginning of year 8.0% (dividend-adjusted ) Return on Amended NAV, since beginning of year* 7.7% (dividend-adjusted ) Return on NAV, 12 months 8.0% (dividend-adjusted ) 30/6/2015 31/5/2015 31/12/2014 Net Asset Value/share, EUR 10.06 10.16 9.59 Amended Net Asset Value/share, EUR* 10.18 10.30 9.73 Share price, EUR 7.77 8.09 7.40 ASSETS EUR EUR EUR million million million NON-CURRENT ASSETS Interests in associates 7.7 7.6 7.3 Loan receivables from associates 1.9 1.9 1.9 Other investments 5.8 4.8 4.6 Deferred tax assets 3.3 3.2 3.7 CURRENT ASSETS Shares held for trading 65.8 76.3 65.4 Other financial assets at fair value 50.4 53.9 52.0 Cash and receivables 26.6 14.9 17.1 ASSETS IN TOTAL 161.5 162.6 152.0 Current liabilities -1.4 -0.6 -0.4 Deferred tax liabilities -6.1 -6.4 -4.7 NET ASSET VALUE 154.0 155.6 146.9 AMENDED NET ASSET VALUE* 155.9 157.7 149.0 Number of shares 15,316,560 * External valuations made to support the 2014 financial statements and confirm the fair values of industrial investments have resulted in an appreciation in the value of one of the associates, Coronaria Hoitoketju Oy. According to IFRS, this type of appreciation of investments in associates cannot be booked because the associates are accounted for in Norvestia's consolidated financial statements using the equity method. ACCOUNTING PRINCIPLES Shares held for trading mainly consist of listed shares and derivative contracts that are measured at fair value by the last trade price on active markets on the balance sheet date. Other financial assets at fair value consist mainly of funds whose fair value is determined as the funds' Net Asset Value on the balance sheet date. The group also includes bonds, the fair value of which is measured at the last trade price on the balance sheet date. Other investments include unlisted shares and private equity fund investments, which are measured at fair value. If the investments have no active market then the fair value is determined using various valuation methods that are usually based on forecasted cash flows. Private equity fund investments are valued according to the practice generally used in the sector, i.e. the fair value of the private equity fund investment is the latest fund value announced by the private equity fund management company. Norvestia Oyj Juha Kasanen Managing Director Tel. +358-9-6226 380 DISTRIBUTION Nasdaq Helsinki Main media www.norvestia.fi News Source: NASDAQ OMX --------------------------------------------------------------------- 2015-07-10 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Norvestia Finland ISIN: FI0009000160 End of News DGAP News-Service --------------------------------------------------------------------- 376985 2015-07-10
Latest News
Latest Reports
No Reports found
Upcoming Events
No Events found
Webcasts
No Webcasts found