All notes

Select note 1–20
Statement of cash flows
EURm 2016 2015
Operating activities
Profit before taxes 1,567 1,229
Adjustments:
Depreciation and amortisation 0 0
Unrealised gains and losses arising from valuation 1 0
Realised gains and losses on investments 26 -13
Other adjustments -563 -446
Adjustments total -535 -458
Change (+/-) in assets of operating activities
Investments *) 40 -262
Other assets 31 -5
Total 71 -267
Change (+/-) in liabilities of operating activities
Financial liabilities -9 2
Other liabilities -25 -5
Paid interests -14 -63
Paid taxes -10 0
Total -58 -67
Net cash from operating activities 1,044 437
Investing activities
Investments in group and associated undertakings -422 533
Net investment in equipment and intangible assets 0 0
Net cash used in investing activities -422 533
Financing activities
Dividends paid -1,192 -1,079
Issue of debt securities 2,271 1,011
Repayments of debt securities in issue -1,002 -931
Net cash from financing activities 78 -999
Total cash flows 699 -28
Cash and cash equivalents at 1 January 739 768
Cash and cash equivalents at 31 December 1,439 739
Net change in cash and cash equivalents 699 -28
*) Investments include both investment property and financial assets.
Additional information to the statement of cash flows:
EURm 2016 2015
Interest income received 84 63
Interest expense paid -71 -74
Dividend income received 1,567 1,125
Notes on the Income statement 1–4
1 Other operating income
EURm 2016 2015
Income from property occupied for own activities 0 0
Other 17 18
Total 17 18
2 Other operating expenses
EURm 2016 2015
Rental expenses -1 -1
Expense on property occupied for own activities 0 0
Other -17 -11
Total -18 -12
Item Other includes e.g. administration and IT expenses and fees for external services.
3 Auditors' fees
EURm 2016 2015
Authorised Public Accountants Ernst & Young Oy
Auditing fees -0.2 -0.2
Other fees -0.1 -0.0
Total -0.3 -0.2
4 Financial income and expense
EURm 2016 2015
Received dividends in total 1,567 1,235
Interest income in total 56 64
Interest expense in total -63 -74
Gains on disposal in total 0 17
Losses on disposal in total -26 -5
Exchange result 55 23
Other -5 -18
Total 1,584 1,243
Notes on the assets 5–9
5 Receivables from group companies
EURm 2016 2015
Cost at beginning of year 296 325
Additions 2 0
Disposals - -28
Carrying amount at end of year 298 296
Receivables are subordinated loans issued by subsidiaries. More information in the consolidated note 29 Financial liabilities.
6 Other shares and participations
2016 Fair value changes 2015 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 148 -27 9 248 12 -12
7 Other investment receivables
2016 Fair value changes 2015 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
Bonds 28 0 -6 111 0 -2
8 Other receivables
EURm 2016 2015
Trading receivables 0 5
Derivatives 2 6
Other 5 8
Total 6 18
9 Prepayments and accrued income
EURm 2016 2015
Accrued interest 10 38
Derivatives 12 15
Other 4 1
Total 26 53
Notes on the liabilities 10–13
10 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. 2015 98 7 1,527 273 5,110 7,014
Dividends -1,092 -1,092
Recognition of undrawn dividends 8 8
Financial assets available-for-sale
- recognised in equity 11 11
- recognised in p/l -10 -10
Profit for the year 1,228 1,228
Carrying amount at 31 Dec. 2015 98 8 1,527 273 5,254 7,159
Restricted equity Unrestricted equity
EURm Share capital Fair value reserve Invested unrestricted capital Other reserves Retained earnings Total
Carrying amount at 1 Jan. 2016 98 8 1,527 273 5,254 7,159
Dividends -1,204 -1,204
Recognition of undrawn dividends 9 9
Financial assets available-for-sale 0
- recognised in equity -2 -2
- recognised in p/l 22 22
Profit for the year 1,565 1,565
Carrying amount at 31 Dec. 2016 98 28 1,527 273 5,624 7,549
Distributable assets
EURm 2016 2015
Parent company
Profit for the year 1,565 1,228
Retained earnings 4,059 4,026
Invested unrestricted capital 1,527 1,527
Other reserves 273 273
Total 7,424 7,053
11 Share capital
Information on share capital is disclosed in Note 34 in the consolidated financial statements.
12 Other liabilities
EURm 2016 2015
Unredeemed dividends 38 35
Derivatives 3 5
Guarantees for derivate contracts 17 38
Other 1 6
Total 58 83
13 Accruals and deferred income
EURm 2016 2015
Deferred interest 25 34
Derivatives 1 6
Other 15 22
Total 41 62
Notes on the income taxes 14
14 Deferred tax assets and liabilities
EURm 2016 2015
Deferred tax assets
Losses 14 14
Deferred tax liabilities
Fair value reserve -7 -2
Total, net 7 12
Notes on the liabilities and commitments 15–16
15 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.
16 Future rental commitments
EURm 2016 2015
Not more than one year 1 1
Over one year but not more than five years 4 0
Over five years 1 -
Total 6 1
Notes on the staff and management 17–19
17 Staff numbers
EURm 2016
Average during the year		 2015
Average during the year
Full-time staff 56 56
Part-time staff 3 3
Temporary staff 2 1
Total 61 60
18 Board fees and management remuneration
EUR thousand 2016 2015
Managing Director Kari Stadigh 4,936 4,290
Members of the Board of Directors
Björn Wahlroos 160 160
Christian Clausen 80 -
Jannica Fagerholm 80 80
Adine Grate Axén 80 80
Veli-Matti Mattila 80 80
Risto Murto 80 80
Eira Palin-Lehtinen 100 100
Per Arthur Sørlie 80 80
In addition to the above, the company has in accordance with the decision of the Annual General Meeting in 2016 compensated transfer tax of in total EUR 5,311.02 related to the acquisition of the company shares (EUR 1,277.3 pertaining to the Chairman, EUR 809.53 pertaining to the Vice Chairman and EUR 3,224.19 pertaining to the other members of the Board).
Pension liability
The Group CEO is entitled to a defined contribution pension in accordance with the pension contract in force. The annual pension premium is fixed at EUR 400,000.
19 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) 455 155 610
Deputy CEO - - -
Former Chairmen of the Board
Kalevi Keinänen 2) - - -
Former Presidents/CEO:s
Harri Hollmen 3) - - -
455 155 610
1) The Group CEO is entitled to a defined contribution pension in accordance with the pension contract in force. The annual pension premium is fixed at EUR 400,000. The supplementary pension premiums for 2016 included payments to a supplementary TEL-L group pension plan, which based on changes in legislation was removed as of 31 December 2016 and forms a paid-up policy.
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). No annual index adjustment in 2016.
3) Group pension agreement with a retirement age of 60 and a pension benefit of 60 per cent of the pensionable TyEL-salary. No annual index adjustment in 2016.
The tables for the Financial Statements are also available in Excel format.