Työttömyysvakuutusrahasto - Financial Statement Release

Unemployment Insurance Fund (TVR): Estimate of the Full-year result has changed

Unemployment Insurance Fund     Stock Exchange Release     26 April 2016 at
11:30

Unemployment Insurance Fund's (TVR) estimate of the Full-year result has
changed

TVR's Board of Directors has changed the estimate of the unemployment rate in
Finland and the estimated amount of earnings related benefit payment financed by
TVR for year 2016.

Unemployment Insurance Fund's current yearly Budget for 2016 was approved on 28
August 2015 and according to it would the average unemployment rate be 10.1
percent and the change of  TVR's net position be negative 419 EUR million for
year 2016.

According to the new estimate approved on 26 April 2016 it is stated that the
rise in unemployment rate is stabilizing and the average unemployment rate for
2016 is estimated to be 9.4 percent. In addition to this it is however noted,
that there is still uncertainty about the development of Finnish economy and
therefore it is not ruled out that unemployment rate may rise again in the
Autumn 2016.

The decline of the estimated unemployment rate improves the estimate of TVR's
Full-year result for 2016 markedly. The change of the net position would
according to the estimate dated 26 April 2016 be approximately negative 50 EUR
million, which is an improvement of approximately 350 EUR million against the
Budget.

The above-mentioned improvement of the Full-year result diminishes the funding
need with the corresponding amount, in which case the amount of new debt
financing needed for 2016 would not be significant.


Additional  information:

Janne Metsämäki, Managing Director. tel. +358 40 522 3614
Tapio Oksanen, Deputy Managing Director, CFO tel. +358 40 539 4651



Helsinki, 26 April 2016

Unemployment Insurance Fund (TVR)

Tapio Oksanen
Deputy Managing Director



Distribution:
NASDAQ OMX Helsinki
Media
www.tvr.fi


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