*
Solidium’s net asset value at the end of the review period amounted to 7,715 million
euros. Investment yield was 3.8% for the review period and 34.6% for the last 12 months
*
Solidium’s profit for the financial year July 1, 2009 – June 30, 2010 amounted to 397.2
million euros
*
Solidium acquired a 10.3% stake in Tieto Corporation
*
Solidium’s portfolio grew with yet another company, as Kemira Oyj distributed its
subsidiary Tikkurila Oyj’s shares in the form of dividends to Kemira shareholders;
Tikkurila Oyj was listed on the NASDAQ OMX Helsinki
*
Solidium received a total of 330 million euros in cash dividends and capital repayments
Solidium’s Managing Director Kari Järvinen’s comments on the review period:
“Yields turned back to normal levels after recovery from financial crisis. Good
dividends and, in case of some or our holdings, increasing share prices enhanced our
yield, even if development of share prices in general was exceptionally volatile. Our
portfolio grew with two new companies, and we contributed to board nomination processes.
From a shareholder’s perspective, an important development was the decision, taken by
many AGMs in spring, to pay the Board of Directors’ remuneration partly in the form of
shares.”"
Solidium is a limited company fully owned by the State of Finland. Its mission is to
strengthen and stabilise domestic ownership in nationally important companies, as well
as increase the value of its holdings in the long term. Investment activities are based
on financial analysis. The core of Solidium’s investment strategy is proper, value
enhancing asset management of the current holdings. Solidium is a minority owner through
its stakes in eleven listed companies: Elisa, Kemira, Metso, Outokumpu, Rautaruukki,
Sampo, Sponda, Stora Enso, TeliaSonera, Tieto and Tikkurila. The market value of
Solidium’s investments is some 8.7 billion euros at the date of this press release.
Further information: www.solidium.fi http://www.solidium.fi/ .
The complete half year report can be found here:
HUG#1437846
