Guarantees and contingent liabilities

EUR 1,000

Group

2014

Group

2013

Parent company

2014

Parent company

2013

Guarantees given

       

Loans that mature in more than five years

       
 

Capital loans

2,355

2,355

   
 

Loans from financial institutions

       
   

Annuity loans

244,859

257,880

   
   

Interest subsidy loans

365,446

401,882

   
   

Third-sector loans

1,435

1,577

 

 

   

Other non-current loans

679,768

592,834

102,255

102,481

   

Total

1,293,863

1,256,527

102,255

102,481

               

Loans for which mortgage on and shares in property have been given as a guarantee

       
 

Loans from financial institutions

1,780,461

1,716,709

2,839

2,839

               
 

Mortgages given

2,540,125

2,400,829

4,870

4,870

 

Security deposit

 

849

   
 

Shares

212,488

161,515

   
 

Total value of pledged guarantees

2,752,612

2,563,193

4,870

4,870

               
 

Loans from financial institutions

6,546

24,483

   
 

Mortgages given

1,427

38,102

   
               
 

Shares of loans allocated to unsold apartments owned by VVO Kodit Oy (VVO Rakennuttaja Oy)

1,046

1,874

   
               
               
       

Group

2014

Group

2013

Parent company

2014

Parent company

2013

Pledges given as guarantees for rent payment and street maintenance

       
 

Real estate mortgages given

8,428

8,215

 

 

               

Guarantees given

       
 

Counter-guarantee

327,440

250,691

236,053

199,059

               

Counter-guarantees for received external guarantees

       
 

Counter-guarantee for guarantees

14,564

14,564

8,587

8,587

               
               
               
               

Other guarantees given

Group

2014

Group

2013

   

Guarantees given on behalf of others

       
   

Pledged deposits

14

18

   
   

Total

14

18

   
               

Guarantees given on behalf of others

       
   

Counter-guarantees

2,015

3,259

   
   

Guarantees given

100

1,800

   
   

Total

2,115

5,527

   
       

 

 

   
               
               
               

Other liabilities

Group

2014

Group

2013

Parent company

2014

Parent company

2013

Leasing liabilities

       
 

Cars

       
   

Payable during the next financial year

866

857

135

126

   

Payable later

1,228

1,263

206

237

   

Total

2,094

2,119

341

364

               

Rent liabilities

       
   

Rent liabilities on commercial premises

396

786

   
   

Rent liabilities on plots

199,387

189,419

   
               

Most notable procurement commitments relating to investments in progress, which are not entered in the accounts

       
   

New construction

265,906

68,132

   
   

Renovations

35,016

25,977

   
       

300,922

94,109

   
               

Other liabilities

       
   

VVO-group plc has a few individual disputes pending, but the company estimates these to be of negligible value. Group companies have made commitments restricting the assignment and pledging of shares owned by them.

       
               
               

VAT liabilities

       
   

VAT repayment liabilities

2,497

3,163

   
               
               

Land purchase liabilities

       
   

Transaction prices based on target construction

 

 

 

 

   

rights and the draft local plan

15,285

8,659

 

3,813

   

Liabilities for building public services

5,514

5,974

 

 

               
               

Construction liability

The land use agreement related to the zoned areas Suurpelto I and II in Espoo includes schedules for construction sanc­tioned with delay penalties. In the agree­ment, the zoned areas are divided into three execution areas, in which VVO holds build­ing rights as follows: Area 2 - 18,217 (18,717) floor square metres and Area 3 - 16,125 (16,125) floor square metres.

The agreement stipulates that all of the residential building rights must be exer­cised by November 2013 in area 2 and by November 2016 in area 3. The schedules for building activities were not met in full. The delay penalty is graded based on the period of delay and can, if the delay has continued for at least five years, be up to half of the land use payments specified in the agreement. According to the agree­ment, the City of Espoo may, if circum­stances change, lower the penalty or waive it altogether.

The Jokiniemi quarters 62007 and 62025 located in the City of Vantaa are subject to a schedule for construction sanctioned with delay penalties. The con­struction liability is divided into various forms of financing and ownership.