Annual Report 2014 | Suomeksi |

6 Items affecting comparability

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EUR million 2014 2013
Capital gains on disposals 2,171 61
Fair value changes on derivatives that do not qualify for hedge accounting ‑91 21
Nuclear fund adjustments ‑3 23
Total 2,077 106
Items affecting comparability are exceptional items or unrealised items which fluctuate between the years. Items affecting comparability are disclosed separately in Fortum's income statement as they are necessary for understanding the financial performance when comparing results for the current period with previous periods. Items affecting comparability are not included in Comparable operating profit.
Capital gains 2014
Capital gains in 2014 mainly include sales gains of EUR 1,85 billion from the sale of the Finnish electricity distribution business. The sales gain is recognised in Fortum's Distribution segment.
Capital gains also include the sales gains from selling Fortum's Norwegian electricity distribution and its heat businesses in Norway. The sales gains are booked in Fortum's Distribution segment, EUR 16 million, and Heat and Electricity Sales and Solutions segment, EUR 52 million.
Fortum recognised a sales gain from the sale of the UK‑based subsidiary Grangemouth CHP. The sales gain was booked in Fortum's Power and Technology segment.
Capital gains include approximately EUR 190 million gain from sale of Fortum's 31%‑shareholding in the Finnish natural gas company Gasum Oy. The sales gain is booked in Fortum's Heat, Electricity Sales and Solutions segment.
Capital gains 2013
Capital gains in 2013 mainly include sales gains from finalising the sale of small hydropower plants in Sweden and sale of Fortums's 33% shareholding in Infratek ASA in Norway, both in Power segment. Sale of Fortum's 47.9% shareholding in Härjeåns Kraft AB in Sweden, in Distribution segment. Capital gains includes also gains related to divestment of the combined heat and power plants in Kuusamo and Kauttua, in Finland, and divestments of Fortum's 50% shares in Riihimäen Kaukolämpö Oy, in Finland, which are included in Heat segment.
Fair value changes on derivatives
Changes in the fair values of financial derivative instruments hedging future cash flows that do not qualify for hedge accounting are recognised in items affecting comparability. This is done to improve the understanding of the financial performance when comparing results from one period to another.
Nuclear fund adjustment
Nuclear fund adjustment includes effects from the accounting principle of Fortum´s part of the State Nuclear Waste Management Fund where the assets in the balance sheet cannot exceed the nuclear related provisions according to IFRIC 5. As long as the Fund is overfunded from an IFRS perspective, the effects to the operating profit from this adjustment will be positive if the provisions increase more than the Fund and negative if actual value of the fund increases more than the provisions.
For more information regarding disposals of shares, see Note 8 Acquisitions and disposals.
For more information regarding fair value changes of derivatives, see Note 7 Fair value changes of derivatives and underlying items in income statement.
For more information regarding nuclear waste management, see Note 30 Nuclear related assets and liabilities.

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