UPM annual report 2014
Information on shares
12 Provisions
As at 31 Dec. 2014 2013
EURm
As at 31 Dec. 2014 2013
Main items included in accruals and deferred income Personnel expenses
EURm
102
95 38
Provisions for pensions Restructuring provisions Environmental provisions
17 17 13 21 68
17 13 12 21
Interest expenses
40 20
Income taxes
–
Changes in number of shares 1 January 2010 – 31 December 2014
Derivative financial instruments
160 207
Other provisions Total at 31 Dec.
Customer rebates
4 1
1 4
63 Changes of provisions are included in personnel and other operating expenses. Information of provisions is disclosed in the consolidated financial statements, Note 30.
Number of shares
Other items At 31 Dec.
327 345
2009
Number of shares at 31 Dec. 2009
519,970,088
Payables to Group companies Trade payables
2010
Options exercised
–
45
43
Number of shares at 31 Dec. 2010
519,970,088
Other liabilities
2,043 2,291
Accruals and deferred income
35
49
2011
Share issue
5,000,000
13 Non-current liabilities
At 31 Dec.
2,123 2,383
Options exercised
2,750
As at 31 Dec. 2014 2013 905 822 1,223 1,523 202 270 145 145 2,475 2,760
Number of shares at 31 Dec. 2011
524,972,838
EURm Bonds
Payables to participating interest companies Trade payables
6 6
7 7
2012
Options exercised
1,151,572
At 31 Dec.
Number of shares at 31 Dec. 2012
526,124,410
Loans from financial institutions
Pension loans Other liabilities Total at 31 Dec.
2013
Options exercised
3,177,487
15 Contingent liabilities
Number of shares at 31 Dec. 2013
529,301,897
As at 31 Dec. 2014 2013
2014
Options exercised
4,433,802
Maturity of non-current liabilities In 2–5 years Bonds
EURm
Number of shares at 31 Dec. 2014
533,735,699
Mortgages 1) As security against own debts
527 481 1,215 1,075 202 270 1,944 1,826
289 357
Loans from financial institutions
Pension loans
Guarantees Guarantees for loans
Later than 5 years Bonds
On behalf of Group companies
903 907
378 341
Other guarantees
Loans from financial institutions
8 448
On behalf of Group companies
120
67
Other liabilities
145 145 531 934
Other commitments 2) Leasing commitments for next year
104
22
Total at 31 Dec.
2,475 2,760
Stock exchange trading UPM’s shares are listed on NASDAQ OMX Helsinki Ltd. The compa- ny’s ADSs are traded on the U.S. over-the-counter (OTC) market under a Level 1 sponsored American Depositary Receipt programme. A total of 508.3 million UPM-Kymmene Corporation shares were traded on the Helsinki stock exchange in 2014 (563.4 million). This rep- resented 95.2% (106.7%) of the total number of shares. The highest quo- tation was EUR 13.99 in December and the lowest EUR 10.07 in Octo- ber. The total value of shares traded in 2014 was EUR 6,233 million (5,308 million). During the year, 6.0 million 2007C share options were traded for EUR 10.3 million (5.4 million, EUR 6.1 million). Treasury shares As at 31 December 2014, the company held 230,737 (230,737) of its own shares, 0.04% (0.04%) of the total number of shares. Of these shares 211,481 were returned upon their issue to UPM without consideration as part of Myllykoski transaction and 19,256 shares in accordance with the Group's share reward scheme due to the termination of employment contracts.
Shares and options held by the Board of Directors and the Group Executive Team At the end of the year, the members of the Board of Directors including President and CEO owned a total of 892,498 (946,727) UPM-Kymmene Corporation shares, including shares held by persons closely associated with him or her or by organisations of which the person has control. These represent 0.17% (0.18%) of the shares and 0.17% (0.18%) of the voting rights . At the end of the year, President and CEO Jussi Pesonen owned 195,280 shares. At the end of the year, the other members of the Group Executive Team owned a total of 238,859 shares.
Leasing commitments for subsequent years
66 146
Other commitments
111
52
Bonds
Interest rate Fixed-rate %
Nominal value issued m
As at 31 Dec. 2014 2013 EURm EURm
1) The mortgages given relate mainly to giving mandatory security for borrowing from Finnish pension insurance companies.
2) Other commitments relate to procurement of commodities.
1997–2027 2000–2030 2002–2014 2002–2017 2003–2018
7.450 3.550 5.625 6.625 5.500
USD 375 309 272
JPY 10,000 USD 500
69
69
Pension commitments of the President and CEO and the members of the Group Executive Team See Notes to the consolidated financial statements, Note 7. Other commitments The commitment to participate in the share issue from Pohjolan Voima Oy would total EUR 55 million (86 million). Derivative contracts Fair values and notional values are disclosed in the consolidated finan- cial statements, Notes 35. All derivatives disclosed have been contracted by the parent Company.
–
363
GBP 250 321 300
USD 250 206
181
Total at 31 Dec. Current portion
905 1,185
–
363
Non-current portion
905 822
14 Current liabilities
As at 31 Dec. 2014 2013
EURm Bonds
–
363
Related party transactions See Notes to the consolidated financial statements, Note 38.
Loans from financial institutions
16 68
8
Pension loans
68
Advances received
1
6
Trade payables Other liabilities
331 353 2,080 2,321 327 345 2,823 3,464
Accruals and deferred income
Total at 31 Dec.
CONTENTS
ACCOUNTS
127
128
UPM Annual Report 2014
UPM Annual Report 2014
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