| Net
asset value of the Norvestia Group 31.1.2005 |
|
| Norvestias net asset value grew by
0.9% in January as a result of trading gains and by 25.5% as a result from
the share issue. The 12-month dividend- and issue-adjusted return on the
net asset value was 10.5%. |
|
|
|
|
|
| NAV, 31.12.2004, MEUR |
98.0 |
|
| Trading gains |
0.9 |
|
| Share issue, deducted with share
issue costs after tax in January |
25.0 |
|
| NAV, 31.1.2005, MEUR |
123.9 |
|
|
|
|
|
|
|
31.1.2005 |
31.12.2004 |
31.12.2003 |
| Net
asset value/share, EUR |
|
|
|
| Before
deferred tax liability |
8.56 |
8.48* |
9.01*,** |
| After
deferred tax liability |
8.09 |
8.02* |
8.79*,** |
|
|
| * adjusted by the share issue |
|
| ** adjusted by the offering ratio of
the bonus issue (2) |
|
|
|
|
|
|
| Net
asset value, EUR million |
|
|
|
| Assets |
|
|
|
|
| Non-current
assets |
0.0 |
0.0 |
0.1 |
| Current
assets |
|
|
|
|
Stocks |
169.4 |
167.5 |
110.0 |
| |
Financial assets |
32.1 |
17.3 |
38.7 |
| Cumulative
assets |
201.5 |
184.8 |
148.8 |
|
|
|
|
|
| Current
liabilities |
-32.3 |
-41.5 |
-1.6 |
| Gross
net asset value |
169.2 |
143.3 |
147.2 |
|
|
|
|
|
| Minority
Interest |
-38.2 |
-38.2 |
-35.5 |
|
|
|
|
|
| Net
asset value before deferred tax liability |
131.0 |
105.1 |
111.7 |
| Deferred
tax liability |
-7.1 |
-7.1 |
-4.4 |
|
|
|
|
|
| Net
asset value after deferred tax liability |
123.9 |
98.0 |
107.3 |
|
|
|
|
|
| Number of shares 15 316 560 |
|
|
|
|
|
|
|
| PRINCIPLES
FOR CALCULATION |
|
|
| Publicly
listed shares, mutual funds and derivatives have been valued at
closing price. In case a closing price has been unavailable, the
purchase quotation has been used. Unlisted shares have been valued
to the purchase expense or the probable selling price in case the
former is lower than the purchase expense.
|
|
| From
31.12.2001 to 31.10.2004 deferred tax receivables have not been
booked in Neomarkka. Simultaneously, deferred tax liability has been
deducted from unbooked tax receivables. |
|