SOLIDIUM OY'S JULY-DECEMBER 2011 HALF YEAR REPORT
(Thomson Reuters ONE) -
* Solidium's investment yield was -14.9% for the six-month review period and
-18.5% for the last 12 months
* Solidium paid 660 million euros in dividends to the State of Finland
* Due to dividends paid and changes in the value of investments, Solidium's
net asset value decreased during the review period by 1,652 million euros,
down to 6,728 million euros at the end of the period
* Solidium increased its holdings in Talvivaara Mining Company Plc and Metso
Corporation by acquiring shares for a total of 42 million euros
* Solidium received a total of 7 million euros in profit distribution during
the review period
* Solidium's profit for the review period amounted to 7.4 million euros
Solidium's Managing Director Kari Järvinen's comments on the review period:
"During the last calendar year, the optimism that prevailed during the first
quarter changed into cautiousness and, during the third quarter, into deep
concern regarding the development of the global economy. Share prices took a
strong downward trend after the summer, which, however, levelled off during the
fourth quarter. Investors became more risk averse, which reflected particularly
on the valuation of the business-cycle sensitive heavy industry. Uncertainty in
economic development, mainly due to difficulties faced by state economies, will
have an impact on companies' requirements to invest and expand their operations
in 2012.
Solidium paid during the review period 660 million euros in dividends to the
State of Finland, and the dividend pay-out by Solidium exceeds one billion euros
during the last two years. Solidium continued to acquire selected shares in the
autumn, in line with its investment policy. We acquired shares in Talvivaara and
Metso, which in our view were attractive investment targets in the long term. We
have also ensured that we have sufficient financial instruments at our disposal
for potential capital requirements in line with our treasury policy. We will use
our investment capacity also in the future selectively and taking into account
the capital needs or our shareholder."
Further information: Managing Director Kari Järvinen, tel. +358 (0)10 830 8905
Solidium is a limited company wholly owned by the State of Finland. Its mission
is to strengthen and stabilise Finnish ownership in nationally important
companies and increase the value of its holdings in the long term. Investment
activities are based on financial analysis. The basis and core objective of
Solidium's investment strategy is proper, value-enhancing asset management of
the current holdings. Through its stakes, Solidium is a minority owner in eleven
listed compa-nies: Elisa, Kemira, Metso, Outokumpu, Rautaruukki, Sampo, Sponda,
Stora Enso, Talvivaara Mining Company, TeliaSonera and Tieto. The market value
of Solidium's investments is approx-imately 7.4 billion euros at the date of
this press release. Further information:www.solidium.fi.
The complete half year report can be found here:
Half year report (pdf):
http://hugin.info/142364/R/1577497/492336.pdf
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(i) the releases contained herein are protected by copyright and
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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Solidium Oy via Thomson Reuters ONE
[HUG#1577497]
Unternehmensinformation / Kurzprofil:
Datum: 18.01.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 105189
Anzahl Zeichen: 3997
contact information:
Town:
Helsinki
Kategorie:
Business News
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