UPM Annual Report 2016

150-151 / 176

ACCOUNTS
UPM Annual Report 2016 UPM Annual Report 2016 150 151
In brief Strategy Businesses Stakeholders Governance Accounts
CONTENTS
Parent company accounts
(Finnish Accounting Standards, FAS)
EURm NOTE 2016 2015
Sales 1 2,811 3,298
Change in inventories of finished goods and work in progress – 2
Production for own use 3 4
Other operating income 2 152 169
Materials and services 3 –1901 –2,056
Personnel expenses 4 –343 –445
Depreciation, amortisation and impairment charges 5 –172 –220
Other operating expenses 6 –178 –268
Operating profit 373 484
Financial income and expenses 7 6 168
Profit before closing entries and tax 379 652
Closing entries 8 –42 –46
Income taxes 9 –81 –61
Profit for the period 255 545
Income statement
EURm NOTE 2016 2015
ASSETS
Intangible assets 10 35 187
Tangible assets 11 1,766 2,262
Holdings in group companies 12 4,365 3,984
Holdings in participating interest companies 12 5 93
Other shares and holdings 12 4 614
Receivables from group companies 12 255 723
Receivables from participating interest companies 12 5 6
Other non-current receivables 12 7 7
Non-current assets 6,443 7,876
Inventories 13 174 314
Trade receivables 14 26 135
Receivables from group companies 14 1,901 868
Receivables from participating interest companies 14 12 11
Other current receivables 14 102 203
Cash and cash equivalents 908 477
Current assets 3,122 2,008
Assets 9,565 9,884
EURm NOTE 2016 2015
EQUITY AND LIABILITIES
Share capital 15 890 890
Revaluation reserve 15 206 427
Reserve for invested non-restricted equity 15 1,273 1,273
Retained earnings 15 1,860 1,714
Profit for the period 255 545
Equity 4,483 4,849
Accumulated depreciation difference 455 608
Provisions 16 170 60
Bonds 17 593 991
Loans from financial institutions 17 568 911
Pension loans 17 68 135
Other non-current liabilities 17 170 161
Non-current liabilities 1,399 2,198
Bonds 18 292 –
Loans from financial institutions 18 3 13
Pension loans 18 68 68
Trade payables 18 211 300
Payables to group companies 18 2,217 1,489
Payables to participating interest companies 18 1 3
Other current liabilities 18 266 296
Current liabilities 3,058 2,169
Liabilities 4,456 4,367
Equity and liabilities 9,565 9,884
Balance sheet