11 Investments

Subsidiaries

31 Dec 2014 Consolidated shareholding, % Parent company shareholding, % Parent company shareholding, shares Parent company shareholding, book value Finnish GAAP, EUR 1,000 Shareholdings of subsidiaries, book value Finnish GAAP, EUR 1,000
Lemminkäinen Talo Oy, Helsinki 100.0 100.0 2,183,663 73,922
Lemminkäinen Infra Oy, Helsinki 100.0 100.0 1,338 36,711
Lemcon Networks Oy, Helsinki 100.0 100.0 392,000 0
UAB Lemcon Vilnius, Lithuania 100.0 100.0
0
UAB Lemminkainen Lietuva, Lithuania 99.9 99.9 3,747,989 3,529






Lemminkäinen International Oy, Helsinki 100.0


5
Lemminkäinen Russia Oy, Helsinki 100.0


163
Lemminkäinen PPP Oy, Kuopio 100.0


3
ICM International Construction Management, Hungary 100.0


0
Lemminkäinen Co., Ltd, China 100.0


72
Lemminkäinen Construction (India) Private Limited, India 100.0


853
Lemcon HR Oy, Helsinki 100.0


60
OOO Lemminkäinen Invest, Russia 100.0


2,284
Lemminkäinen Polska Sp.Z O.O, Poland 100.0


1,576
Lemminkäinen Ehitus As, Estonia 100.0


3
OOO Lemminkäinen Service, Russia 100.0


13
OOO Lemminkäinen Stroy, Russia 100.0


1,151
Rekab Entreprenad Ab, Sweden 100.0


4,343
ZAO Lemminkäinen Rus, Russia 100.0


29,923






Lemcon Argentina S.R.L, Argentina 100.0


0
LEMCON Baumanagement GmbH, Germany 100.0


0
Lemcon Network Services Ltd, UK 100.0


0
Lemcon Venezuela C.A., Venezuela 100.0


0
Pasila Telecom Oy, Helsinki 100.0


0






Asfalt Remix AS, Norway 75.0


4,562
FD-Entreprice Aps, Denmark 80.0


1,526
Lemminkäinen A/S, Denmark 100.0


18,972
Lemminkäinen Industri AS, Norway 100.0


218
Lemminkäinen Eesti AS, Estonia 100.0


5,594
Lemminkäinen Norge AS, Norway 100.0


27,158
Lemminkäinen Sverige Ab, Sweden 100.0


12
Oü Järva Paas, Estonia 52.0


3
SIA Lemminkainen Latvija, Latvian 100.0


1,835
Landvetterkrossen AB, Sweden 75.0


423
OOO Lemminkäinen Dor Stroi, Russia 100.0


5,430





114,162 106,181

All the company’s subsidiaries have been included in the consolidated financial statements. Non-controlling interests in the company’s subsidiaries been recorded in relation to voting rights and ownership except for Norwegian Asfalt Remix AS. The company has a fixed price symmetrical put and call option with the non-controlling owners of Asfalt Remix AS for which reason the share of the non-controlling interest is not recognised in balance sheet. The option has been measured at fair value and recorded as a liability in the consolidated balance sheet. The amount of the liability is not material (in 2014 EUR 1.1 million).

Non-controlling interest in the consolidated balance sheet totalled EUR 0.1 million (EUR 0.6 mill.) at the end of 2014, and the non-controlling interest is not material to the company.

The company is not aware of any restrictions on its assets at the end of 2014.

Joint ventures

The Group’s joint ventures are not individually material.

31 Dec 2014
Consolidated shareholding, % Shareholdings of subsidiaries, book value Finnish GAAP, EUR 1,000
Genvej A/S, Denmark 50.0 201
Martin Haraldstad AS, Norway 50.0 680
Nordasfalt AS, Norway 50.0 525
Ullensaker Asfalt ANS, Norway 50.0
Total
1,407







EUR 1,000
2014 2013
Shares in joint ventures 1 Jan 8,202 8,859
Translation difference -580 -1,137
Decreases -632
Dividends received -608 -299
Share of the profit for the period 510 780
Shares in joint ventures 31 Dec 6,893 8,202

At the end of 2014 the company considered it had lost its share of the control over the joint venture Ullensaker Asfalt ANS after agreeing to end co-operation between the shareholders. Ullensaker Asfalt ANS was still listed in the local company register at the end of 2014, and it’s therefore presented in the list of joint ventures above.


EUR 1,000
1 Jan–31 Dec 2014 1 Jan–31 Dec 2013
Total of joint ventures that are not individually material
(information presented in full)



Profit from continuing operations
510 780

Comprehensive income for the financial year
510 780

Associates

The Group’s associates are not individually material.

31 Dec 2014
Consolidated shareholding, % Shareholdings of subsidiaries, book value Finnish GAAP, EUR 1,000
Finavo Oy, Helsinki 47.5 1
Vuokatin Betoni Oy, Sotkamo 33.1 13
Total
14

EUR 1,000
2014 2013
Shares in associates 1 Jan 629 848
Decreases -593 0
Share of the profit for the period -13 -218
Shares in associates 31 Dec 24 629

EUR 1,000
1 Jan–31 Dec 2014 1 Jan–31 Dec 2013
Total of associates that are not individually material
(information presented in full)



Profit from continuing operations
-13 -218

Comprehensive income for the financial year
-13 -218

The company divested its share in NHK Rakennus Oy during 2014.

Finavo Oy is a real estate rental operator. The company has given a EUR 14.4 million loan guarantee for the real estate shares owned by Finavo Oy. Due to the loan guarantee the company’s liabilities in in Finavo Oy exceed the amount recorded in the consolidated balance sheet.

Other shares and holdings

31 Dec 2014 Parent company shareholding, book value Finnish GAAP,
EUR 1,000
Shareholdings of subsidiaries, book value Finnish GAAP, EUR 1,000 Total
Housing shares
248
248
Property shares
755 1,065 1,821
Others
356 766 1,123


1,360 1,831 3,191







The company’s other shares and holdings are recorded as non-current available-for-sale financial assets in the balance sheet. Changes in other shares and holdings are presented in the note 20.


 
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