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Notes to the Parent Company Financial Statements (FAS)
       
1. Turnover by area      
       
  2011 2010
       
Finland   1,477,281 1,003,076
Foreign   2,116,910 747,096
Total   3,594,191 1,750,172
       
2. Other operating income      
       
  2011 2010
       
Gains from sale of tangible assets   0 9,506
Gains from sale of associated company   0 20,870,667
Other   1,246,769 1,686,574
Total   1,246,769 22,566,747
       
3. Personnel      
       
  2011 2010
       
Salaries and wages   4,389,838 5,151,224
Pension expenses   766,673 687,160
Other personnel expenses   433,142 299,765
Total   5,589,653 6,138,149
       
Salaries and other remuneration of the CEO and Deputy CEO   450,749 1,103,241
Board members   284,000 239,500
       
Average number of employees   43 42
       
4. Depreciation      
       
  2011 2010
       
Depreciation by asset type:      
Intangible rights   108,848 128,371
Other long-term expenditure   361,742 346,663
Machinery and equipment   117,483 135,040
Total   588,073 610,074
       
       
5. Other operating expenses      
       
  2011 2010
       
Other personnel expenses   -5,697 400,566
Office expenses   655,040 529,837
Traveling and entertainment   443,185 544,902
External services   1,880,055 1,710,604
Other operating expenses   628,815 7,134,137
Total   3,601,398 10,320,046
       
Audit fees      
Authorised Public Accountants
PricewaterhouseCoopers
     
Audit fees   78,012 26,800
Tax advices   4,930 3,100
Other fees and services   101,887 30,212
Total   184,829 60,112
       
       
6. Finance income and costs      
       
  2011 2010
       
Dividend income      
Group companies   12,340,397 3,149,725
Associated companies   195,000 840,027
Total   12,535,397 3,989,752
       
Other interest and finance income      
Group companies   170,378 98,131
Others   1,824,249 1,722,072
Total   1,994,627 1,820,203
       
Interest and other finance costs      
Others   -4,587,637 -4,705,791
Total   -4,587,637 -4,705,791
       
Finance income and costs total   9,942,387 1,104,164
       
       
7. Extraordinary items      
       
  2011 2010
       
Extraordinary income      
Group contributions received   2,700,000 5,200,000
       
       
8. Income taxes      
       
  2011 2010
       
Income taxes   -794,720 -1,579,120
Deferred taxes   -470,448 -1,649,520
Total   -1,265,168 -3,228,640
       
       
9. Intangible assets      
       
  2011 2010
       
Intangible rights      
       
Acquisition cost at 1 January   623,188 623,188
Additions   20,000 0
Acquisition cost at 31 December   643,188 623,188
       
Accumulated depreciation at 1 January   -342,647 -214,276
Depreciation for financial year   -108,848 -128,371
Accumulated depreciation at 31 December   -451,495 -342,647
Book value on 31 December   191,693 280,541
       
Other long-term expenditure      
       
Acquisition cost at 1 January   2,061,204 1,963,482
Additions   94,402 97,722
Acquisition cost at 31 December   2,155,606 2,061,204
       
Accumulated depreciation at 1 January   -1,131,925 -785,262
Depreciation for financial year   -361,742 -346,663
Accumulated depreciation at 31 December   -1,493,667 -1,131,925
Book value on 31 December   661,939 929,279
       
Intangible rights total   853,632 1,209,820
       
       
10. Tangible assets      
       
  2011 2010
       
Machinery and equipment      
       
Acquisition cost at 1 January   897,971 962,081
Additions   10,484 26,762
Disposals   0 -90,872
Acquisition cost at 31 December   908,455 897,971
       
Accumulated depreciation at 1 January   -606,669 -507,726
Accumulated depreciation in changes   0 36,097
Depreciation for financial year   -117,483 -135,040
Accumulated depreciation at 31 December   -724,152 -606,669
Book value on 31 December   184,303 291,302
       
Other tangible assets      
       
Acquisition cost at 1 January   119,677 119,677
Book value on 31 December   119,677 119,677
       
Tangible assets total   303,980 410,979
       
       
11. Investments      
       
  2011 2010
       
Shares in subsidiaries      
       
Acquisition cost at 1 January   61,584,456 24,514,554
Additions   9,842,515 40,869,902
Disposals   -56,779 -3,800,000
Acquisition cost at 31 December   71,370,192 61,584,456
       
Shares in associated companies      
       
Acquisition cost at 1 January   5,573,568 5,616,915
Additions   247,376 423,613
Disposals   -145,827 -466,960
Acquisition cost at 31 December   5,675,117 5,573,568
       
Shares, other      
       
Acquisition cost at 1 January   3,561,258 49,159,492
Additions   258,709 21,669,705
Disposals   -178,599 -67,267,939
Acquisition cost at 31 December   3,641,368 3,561,258
       
Investments total   80,686,677 70,719,282
       
The subsidiaries and the associated companies are presented in the Notes to the Consolidated Financial Statements, Table 31. Related party disclosures.
       
       
12. Long-term receivables      
       
  2011 2010
       
Receivables from Group companies      
Loan receivables   5,927,000 4,287,000
       
Receivables from associated companies      
Loan receivables   18,681,685 23,126,469
       
Other loan receivables   882,694 1,597,495
Long-term receivables total   25,491,379 29,010,964
       
       
13. Deferred tax assets      
       
  2011 2010
       
Accrued differences   0 470,448
Deferred tax assets total   0 470,448
       
       
14. Short-term receivables      
       
  2011 2010
       
Accounts receivable   125,517 232,697
       
Receivables from Group companies      
Accounts receivable   1,387,197 28,604
Loan receivables   3,508,005 515,000
Other receivables   3,572,013 13,499,371
Total   8,467,215 14,042,975
       
Receivables from associated companies      
Accrued income   830,724 765,226
Total   830,724 765,226
       
Loan receivables   736,261 7,451
Other receivables   16,148 199,277
Accrued income   709,086 464,982
       
Short-term receivables total   10,884,951 15,712,608
       
       
15. Shareholders' equity      
       
  2011 2010
       
Share capital at 1 January   771,587 771,587
Share capital at 31 December   771,587 771,587
       
Share premium account at 1 January   38,968,186 38,968,186
Share premium account at 31 December   38,968,186 38,968,186
       
Invested unrestricted shareholders' equity at 1 January   6,999,745 6,999,745
Invested unrestricted shareholders' equity at 31 December   6,999,745 6,999,745
      0
Retained earnings at 1 January   10,449,398 3,495,441
Dividend payment   -10,113,812 -3,370,219
Retained earnings at 31 December   335,586 125,222
       
Profit for the financial year   6,439,055 10,324,176
       
Shareholders' equity, total   53,514,159 57,188,916
       
Calculation of distributable assets      
Retained earnings   335,586 125,223
Profit for the financial year   6,439,055 10,324,176
Invested unrestricted shareholders' equity   6,999,745 6,999,745
Total   13,774,386 17,449,144
       
CapMan Plc´s share capital is divided as follows:      
       
    2011 2010
    Number of Number of
    shares shares
Series A share (10 votes/share)   5,750,000 6,000,000
Series B share (1 vote/share)   78,531,766 78,281,766
       
16. Non-current liabilities      
       
  2011 2010
       
Hybrid bond   29,000,000 29,000,000
Bank loans   28,752,822 35,371,422
Other liabilities   73,420 70,846
Non-current liabilities total   57,826,242 64,442,268
       
       
17. Current liabilities      
       
  2011 2010
       
Accounts payable   251,897 364,321
       
Liabilities to Group companies      
Accounts payable   275,036 0
Other liabilities   1,955,000 7,305,000
Total   2,230,036 7,305,000
       
Bank loans   6,250,000 6,250,000
Other liabilities   263,835 135,959
Accrued expenses   2,456,684 3,656,134
       
Current liabilities total   11,452,452 17,711,414
       
       
18. Contingent liabilities      
       
  2011 2010
       
Leasing agreements - CapMan Group as lessee      
       
Operating lease commitments      
Within one year   221,592 343,827
After one but not more than five years   201,130 247,429
Total   422,722 591,256
       
Other hire purchase commitments      
Within one year   1,311,126 1,264,954
After one but not more than five years   3,452,138 4,512,384
Beyond five years   0 88,824
Total   4,763,264 5,866,162
       
Securities and other contingent liabilities      
       
Contingencies for own commitment      
Mortgage bonds   60,000,000 60,000,000
Loan commitments to Maneq funds   6,026,566 6,032,586
Other contingent liabilities   1,106,490 2,100,779
       
Remaining commitments to funds      
Equity funds   1,275,716 1,160,846
Fund of funds   346,514 398,248
       
Remaining commitments to funds   1,622,230 1,559,094