|
|
|
|
|
|
|
Group |
|
Parent company |
|
2015 |
2014 |
|
2015 |
2014 |
Long-term liabilities |
|
|
|
|
|
|
Liabilities to others |
|
|
|
|
|
Loans from financial insitutions |
0 |
7 |
|
0 |
0 |
Deferred tax liabilities |
84,904 |
80,291 |
|
0 |
0 |
Other liabilities |
430 |
398 |
|
430 |
398 |
Liabilities to others, total |
85,335 |
80,695 |
|
430 |
398 |
|
|
|
|
|
|
Long-term liabilities, total |
85,335 |
80,695 |
|
430 |
398 |
|
|
|
|
|
|
Liabilities due after five years |
Loans from financial insitutions |
0 |
0 |
|
0 |
0 |
|
|
|
|
|
|
Short-term liabilities |
|
|
|
|
|
|
|
|
Liabilities to group companies |
Accounts payable |
|
|
|
2,144 |
2,939 |
Accured expenses and prepaid income |
|
|
|
1,043 |
738 |
Other liabilities |
|
|
|
66,181 |
51,788 |
Advances received |
|
|
|
0 |
765 |
Liabilities to group companies, total |
|
|
|
69,368 |
56,230 |
|
|
|
|
|
|
Liabilities to associated companies |
Accounts payable |
251 |
23 |
|
3 |
23 |
Liabilities to associated companies, total |
251 |
23 |
|
3 |
23 |
|
|
|
|
|
|
Liabilities to others |
Loans from financial insitutions |
0 |
27 |
|
0 |
0 |
Accounts payable |
50,314 |
57,703 |
|
30,355 |
33,535 |
Accured expenses and prepaid income |
129,990 |
146,666 |
|
85,860 |
98,263 |
Other liabilities |
23,022 |
31,460 |
|
9,642 |
14,876 |
Advances received |
24,498 |
20,288 |
|
6,212 |
5,988 |
Liabilities to others, total |
227,824 |
256,144 |
|
132,069 |
152,661 |
|
|
|
|
|
|
Short-term liabilities, total |
228,076 |
256,167 |
|
201,440 |
208,915 |
|
Main items in accrued expenses and prepaid income |
The main items in the Group's accured expenses and prepaid income are salaries and wages M€ 89.7 (M€ 104.3). |
The main items in the parent company's accured expenses and prepaid income are salaries and wages M€ 56.3 (M€ 63.1). |
|
|
Group |
|
Parent company |
|
2015 |
2014 |
|
2015 |
2014 |
Commitments given |
|
|
|
|
|
|
Rental commitments |
0 |
0 |
|
137 |
263 |
|
Mortgages |
6,100 |
7,600 |
|
6,100 |
6,100 |
|
Leasing commitments |
0 |
0 |
|
8,240 |
9,108 |
|
Other commitments given |
98,123 |
144,152 |
|
81,132 |
125,795 |
Commitments given, total |
104,223 |
151,752 |
|
95,609 |
141,266 |
|
|
|
|
|
|
Commitments given on |
|
|
|
|
|
|
Own behalf |
55,642 |
76,747 |
|
8,942 |
8,942 |
|
Group companies behalf |
0 |
0 |
|
38,086 |
57,319 |
|
Others behalf |
48,581 |
75,005 |
|
48,581 |
75,005 |
Commitments given, total |
104,223 |
151,752 |
|
95,609 |
141,266 |
|
|
|
|
|
|
Leasing commitments |
|
|
|
|
|
Due in next financial year |
30,075 |
27,978 |
|
19,134 |
16,930 |
Due in later financial year |
236,757 |
254,137 |
|
186,693 |
198,711 |
Leasing commitments, total |
266,832 |
282,115 |
|
205,827 |
215,641 |
|
|
|
|
|
|
|
|
Leasing agreements typically include provisions of purchase option and/or obligation to nominate the purchaser. |
|
|
|
|
|
|
|
|
Rental commitments |
|
|
|
|
|
Due in next financial year |
3,189 |
6,641 |
|
995 |
1,679 |
Due in later financial years |
6,124 |
8,084 |
|
1,979 |
0 |
Rental commitments, total |
9,313 |
14,725 |
|
2,974 |
1,679 |
|
|
|
|
|
|
|
|
Pension commitments |
|
|
|
|
|
The pension liability in VR Pension Fund was 471.0 M€ at year end 2015. The Pension Fund has more assets than liabilities. VR Group has leased two land areas from VR Pension Fund with ten year lease contracts. |
|
|
|
|
|
|
|
|
Other commitments |
VR-Group Ltd and co-operation group Siemens Finland and Siemens AG signed an agreement 12.2.2014, where VR-Group orders 80 electric locomotives, their documentation, spare parts, tools and training. The commitment was worth 314.5 M€ at signing. The locomotives are delivered in years 2017-2026. |
|
|
|
|
|
|
|
|
In addition VR-Group Ltd and Transtech Oy signed an agreement 31.3.2014, where VR-Group orders 27 passenger wagons, their documentation, spare parts, tools and training. The commitment was worth 86.8 M€ at signing. The wagons are delivered in years 2016-2017. |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Group |
|
Parent company |
Interest rate swaps |
2015 |
2014 |
|
2015 |
2014 |
Value of underlying asset |
274,798 |
280,386 |
|
274,798 |
280,386 |
Market value |
-42,535 |
-51,359 |
|
-42,535 |
-51,359 |
|
The principal amount of the payment installments for leasing agreements made for rolling stock, transport equipment and working machinery are hedged with interest rate swaps of which the last mature in 2034. The value of underlying asset is given as the total sum of the principal amount of the lease payments in the leasing agreements. |
|
The market value of the interest rate swaps is t€ -42,535 at the balance sheet date. The market value is the difference between the interest rate swaps on the balance sheet date and transaction date discounted to the balance sheet date. The market value of the interest rate swaps is not recorded in the financial statements. |
|
|
|
|
|
|
|
|
8.1 M€ of the underlying value of the interest rate swaps, 274.8 M€, has been counted as non-hedging agreements and their market value of -0.96 M€ has been booked in the result. |
|
|
Group |
|
Parent company |
Diesel oil derivatives |
2015 |
2014 |
|
2015 |
2014 |
Swap |
|
|
|
|
|
Market value |
-1,227 |
-1,315 |
|
-1,227 |
-1,315 |
Value of underlying assets (Metric Tons) |
7,200 |
6,000 |
|
7,200 |
6,000 |
|
|
|
|
|
|
|
|
Derivatives are used to hedge the price risk for diesel fuel. The hedging period ends in 2016. The market value of the diesel oil swaps is t€ -1,227 at the balance sheet date. The market value is determined by using commonly used valuation methods based on market information at the balance sheet date. The market value of the diesel oil swaps is not recorded in the financial statements. |
|
|
|
|
|
|
|
|
|
Group |
|
Parent company |
Electricity hedging |
2015 |
2014 |
|
2015 |
2014 |
Market value |
|
-17,120 |
-9,442 |
|
-17,120 |
-9,442 |
The hedged volume (MWh) |
1,582,694 |
1,816,373 |
|
1,582,694 |
1,816,373 |
|
Derivatives are used to hedge the price risk for electricity. The market value of the electricity derivatives is not recorded in the financial statements. |
|
|
Group |
|
Parent company |
Foreign currency forwards |
2015 |
2014 |
|
2015 |
2014 |
Foreign currency swaps |
0 |
5,031 |
|
0 |
5,031 |
|
|
|
|
|
|
|
|
The Group has no foreign currency forwards at the balance sheet date. |