Annual Report 2014 | Suomeksi |

22 Long-term and short-term interest-bearing receivables

Download as Excel
EUR million 2014 2013
Long‑term loan receivables 2,041 2,595
Finance lease receivables 0 2
Total long‑term interest‑bearing receivables 2,041 2,598
Other short‑term interest‑bearing receivables 4 6
Total short‑term interest‑bearing receivables 1) 4 6
Total 2,045 2,603
1) Included in trade and other receivables in the balance sheet, see Note 24.
Long‑term loan receivables include receivables from associated companies and joint ventures EUR 2,041 million (2013: 2,587), mainly from Swedish nuclear companies, OKG AB and Forsmark Kraftgrupp AB, EUR 1,310 million (2013: 1,312) and Fortum Värme samägt med Stockholms stad EUR 553 million (2013: 1,135). The nuclear companies are mainly funded with shareholder loans, pro rata each shareholder’s ownership.
TVO is building Olkiluoto 3, the nuclear power plant, which is funded through external loans, share issues and shareholder loans according to shareholders' agreement between the owners of TVO. At end of December 2014 Fortum has EUR 95 million outstanding receivables regarding Olkiluoto 3 and is additionally committed to provide at maximum EUR 100 million. A subordinated shareholder loan EUR 15 million has also been given to fund planning of Olkiluoto 4, to which Fortum has additionally committed to provide EUR 57 million.
For further information regarding credit risk management, see Note 3.7 Credit risk.
Interest‑bearing receivables
Repricing
EUR million Effective
interest
rate, %
Carrying
amount
2014
Under
1 year
1‑5
years
Over 5
years
Fair
value
2014
Carrying
amount
2013
Fair
value
2013
Long‑term loan receivables 2.4 2,044 1,857 3 184 2,216 2,600 2,702
Finance lease receivables 2 4
Total long‑term interest‑bearing 
receivables 1) 
2.4 2,044 1,857 3 184 2,216 2,602 2,706
Other short‑term interest‑bearing 
receivables
0.0 0 0 0 1 1
Total interest‑bearing receivables 2.4 2,045 1,857 3 184 2,216 2,603 2,707
1) Including current portion of long‑term receivables EUR 3 million (2013: 5).
X

Search Fortum Annual Report 2014

Start typing...

Search results