* 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.
The complete half year report can be found here:
[HUG#1437846]
Half year report (pdf):
http://hugin.info/142364/R/1437846/382722.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Solidium Oy via Thomson Reuters ONE
