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Notes to Sampo plc’s Financial Statements

Notes to the income statement
1 Other operating income
EURm 2013 2012
Income from property occupied for own activities 0 0
Other 15 15
Total 15 15
2 Other operating expenses
EURm 2013 2012
Rental expenses -1 -1
Expense on property occupied for own activities -0 -0
Other -10 -12
Total -12 -13
Item Other includes e.g. administration and IT expenses and fees for external services.
3 Auditors' fees
EURm 2013 2012
Authorised Public Accountants Ernst & Young Oy
Auditing fees -0 -0
Other fees -0 -0
Total -0 -0
4 Financial income and expense
EURm 2013 2012
Received dividends in total 878 773
Interest income in total 61 69
Interest expense in total -97 -124
Gains on disposal in total 6 3
Losses on disposal in total -0 -1
Exchange result 20 6
Other -16 27
Total 852 753
Notes to the assets
5 Property, plant and equipment
2013 2012
EURm Land and buildings Other Land and buildings Other
Cost at beginning of year 1 4 1 4
Additions - 0 - 0
Disposals - - - -0
Accumulated depreciation at beginning of year - -1 - -1
Depreciation according to plan during the financial year -0 -0 -0 -0
Carrying amount at end of year 1 3 1 3
6 Receivables from Group companies
EURm 2013 2012
Cost at beginning of year 225 223
Additions 101 13
Disposals -5 -11
Carrying amount at end of year 321 225
Receivables are subordinated loans issued by subsidiaries. More information in the consolidated note 29 Financial liabilities.
7 Other shares and participations
2013 Fair value changes 2012 Fair value changes
EURm Fair value Recognised in p/l Recognised in fair value reserve Fair value Recognised in p/l Recognised in fair value reserve
Avalaible-for-sale equity securities 28 4 -4 24 2 0
Changes in property shares
EURm 2013 2012
Cost at beginning of year 4 4
Disposals -4 -0
Carrying amount at end of year 0 4
Difference between current cost and carrying amount 0 0
8 Other investment receivables
2013 Fair value changes 2012 Fair value changes
EURm Fair value Recognised in p/l Recognised in fair value reserve Fair value Recognised in p/l Recognised in fair value reserve
Market money 350 0 -0 350 2 1
Bonds 39 0 4 0 0 2
Total 388 0 4 350 3 3
9 Other receivables
EURm 2013 2012
Trading receivables 7 0
Derivatives 6 7
Other 4 4
Total 17 11
10 Prepayments and accrued income
EURm 2013 2012
Accrued interest 36 36
Derivatives 35 52
Other 0 1
Total 71 89
Notes to the liabilities
11 Movements in the parent company's equity
Restricted equity Unrestricted equity
EURm Share capital Fair value reserve Invested unrestricted capital Other reserves Retained earnings Total
Carrying amoun at 1 Jan. 2012 98 2 1,527 273 4,824 6,724
Dividends -672 -672
Recognition of undrawn dividends 6 6
Financial assets available-for-sale
-recognised in equity -0 -0
-recognised in p/l -1 -1
Profit for the year 737 737
Carrying amount at 31 Dec. 2012 98 0 1,527 273 4,895 6,793
Restricted equity Unrestricted equity
EURm Share capital Fair value reserve Invested unrestricted capital Other reserves Retained earnings Total
Carrying amount at 1 Jan. 2013 98 0 1,527 273 4,895 6,793
Dividends -756 -756
Recognition of undrawn dividends 7 7
Financial assets available-for-sale
-recognised in equity -0 -0
-recognised in p/l 3 3
Profit for the year 0
Carrying amount at 31 Dec. 2013 829 829
Kirjanpitoarvo 31.12.2013 98 4 1,527 273 4,976 6,877
Distributable assets
EURm 2013 2012
Parent company
Profit for the year 829 737
Retained earnings 4,146 4,158
Invested unrestricted capital 1,527 1,527
Other reserves 273 273
Total 6,775 6,695
12 Share capital
Information on share capital is disclosed in Note 34 in the consolidated financial statements.
13 Other liabilities
EURm 2013 2012
Unredeemed dividends 26 24
Derivatives 7 9
Guarantees for derivate contracts 47 78
Other 0 0
Total 81 111
14 Accruals and deferred income
EURm 2013 2012
Deferred interest 34 34
Derivatives 10 11
Other 21 15
Total 66 60
Notes to the income taxes
15 Deferred tax assets and liabilities
EURm 2013 2012
Deferred tax assets
Losses 15 18
Timing differences 0 0
Fair value reserve 0 0
Total 15 18
Deferred tax liabilities
Timing differences 0 -0
Fair value reserve -1 -0
Total -1 -0
Total, net 14 18
Notes to the liabilities and commitments
16 Pension liabilities
The basic and suplementary pension insurance of Sampo plc's staff is handled through insurances in Varma Mutual Insurance Company and in Mandatum Life Insurance Company Limited.
17 Future rental commitments
EURm 2013 2012
Not more than one year 1 1
Over one year but not more than five years 2 3
Total 3 4
18 Off-balance sheet items
EURm 2013 2012
Underwriting commitments 1 1
Off-balance sheet items total 1 1
To or on behalf of Group companies - -
To or on behalf of associates - -
Notes to the staff and management
19 Staff numbers
EURm 2013
Average during
the year
2012
Average during
the year
Full-time staff 51 51
Part-time staff 2 2
Temporary staff 3 3
Total 56 55
20 Management's remuneration and post-employment benefits
EUR thousand 2013 2012
Managing Director Kari Stadigh 3,530 2,454
Members of the Board of Directors
Björn Wahlroos 160 160
Anne Brunila 80 80
Jannica Fagerholm 80 -
Adine Grate Axén 80 80
Veli-Matti Mattila 80 80
Eira Palin-Lehtonen 80 80
Per Arthur Sørlie 80 80
Matti Vuoria 100 100
Pension liability
The retirement age of the Managing Director is 60 years, when the pension benefit is 60% of the pensionable salary.
21 Pension contributions to the CEO, deputy CEO and the members of the board
EUR thousand Supplementary pension costs Statutory pension costs Total
Pension contributions paid during the year
Chairman of the Board - - -
Other Members of the Board - - -
President/CEO 1) 1,583 132 1,715
Deputy CEO - - -
Former Chairmen of the Board
Kalevi Keinänen 2) 40 - 40
Former Presidents/CEO:s
Harri Hollmen 3) 86 - 86
1,709 132 1,841
1) According to his current agreement the Group CEO is entitled to retire in December 2015 when he turns 60. The pension benefit is 60 per cent of his pensionable salary. The pensionable salary includes fixed salary, fringe benefits, holiday pay and short-term incentives and is calculated as an average of two out of the four last full years, where the best and the worst year are left out. To replace the defined benefit supplementary pension agreement stipulated in the service contract for the Group CEO currently in force, a new defined contribution pension agreement will be signed as of 1 January 2016. The annual cost of the agreement for Sampo will be 400,000 euros.
2) Group pension agreement with a retirement age of 60 years and a pension benefit of 66 per cent of the pensionable TyEL-salary (TyEL: Employee's Pension Act). The supplementary cost pertains to a yearly index adjustement.
3) Group pension agreement with a retirement age of 60 and a pension benefit of 60 per cent of the pensionable TyEL-salary. The supplementary cost pertains to a yearly index adjustement.
Notes to the shares held
22 Shares held as of 31 Dec, 2013
Company name Percentage of share capital held *) Carrying amount EURm
Group undertakings
P&C insurance
If P&C Insurance Holding Ltd, Stockholm Sweden 100 1,886
Life insurance
Mandatum Life Ltd, Helsinki Finland 100 484
Other
Sampo Capital Oy, Helsinki Finland 100 1
Note
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