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financial statements 2011
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31. Operating leases
Group as the tenant
Minimum leases payable on the basis of non-cancellable operating leases
eur 1000
2011
2010
Within one year
1 998
2 585
Due for payment later
7 337
8 020
Total
9 334
10 604
The Group leases many of its office premises in Finland and Sweden. The Group owns most of its production
plants. The lengths of the leases are 3-5 years on average and normally include the possibility to continue the agre-
ement after the original date of termination. Leases generally include an index clause. The 2011 income statement
contains lease expenses for operating leases of EUR 3.8 million (eur 3.0 million).
32. Contingent liabilities
Collateral and other contingent liabilities
eur 1000
2011
2010
Liabilities to credit institutions, secured by mortgages and pledges
Liabilities to credit institutions
4 229
5 379
Corporate mortgages
2 819
2 802
Property mortgages
2 018
2 018
Pledged machinery and equipment
3 470
3 909
Mortgages given as security, total
8 308
8 729
Other collateral given on behalf of shareholders
Property mortgages given
40
37
Off-balance sheet financial liabilities
Real estate investments
The Group is obliged to review the VAT reductions made on real estate investments completed in the years
2008-2011, if the property’s taxable use decreases during the review period. The last review year is 2020. The
maximum amount of the liability is eur 272,255.10 .