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financial statements 2011
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22. Cash and cash equivalents
Cash and cash equivalents in the cash flow statement are formed as follows:
eur 1000
2011
2010
Cash in hand and at the bank
6 229
2 538
Certificates of deposit (1-3 months)
0
4 500
Total
6 229
7 038
There are no major credit risk concentrations associated with financial assets.
23. Equity and capital management
Shares
eur 1000
eur 1000
(number, total)
Share capital
Share premium fund
31.12.2009
6 000 000
6000
25 870
31.12.2010
6 000 000
6000
25 870
31.12.2011
6 000 000
6000
25 870
The company has one share class, and so there are no vote differentials. One share carries one vote. The share
has no nominal value. The company’s shares do not belong to the book-entry system. All shares issued have been
fully paid for.
Shareholders’ equity comprises share capital, the share premium fund, translation differences, the fair value fund
and retained earnings.
Share premium fund
The share premium fund is a non-distributable fund.
Treasury shares
In 2011 and 2010 the Group held no treasury shares.
Translation differences
The translation differences fund comprises translation differences arising from the translation of the financial
statements of foreign units. The profits and losses arising from the hedging of net investments in foreign units are
included in translation differences, provided that the requirements for hedging have been met.
Fair value fund
The fair value fund comprises changes in the fair values of available-for-sale investments.
Distributable assets
The profit for the year is recognized in retained earnings. The distributable assets of the Group’s parent company
were EUR 12,144,215.04 in the financial statements dated December 31, 2011.
Capital management and dividends
The goal of the Group’s capital management is to support business operations by means of an optimal capital
structure that ensures normal operating conditions. The company has no fixed dividend policy. The equity-to-
assets ratio and the company’s needs form the basis for dividend distribution, concerning which the Board of
Directors makes a proposal to the Annual General Meeting.