Norvestia - Net Asset Value

NORVESTIA’S AMENDED NET ASSET VALUE DECREASED BY 1.0% IN JANUARY

Helsinki, Finland, 2016-02-10 15:05 CET (GLOBE NEWSWIRE) -- Norvestia Oyj      
 Stock exchange release    10 February 2016 at 16:05 

NORVESTIA’S AMENDED NET ASSET VALUE DECREASED BY 1.0% IN JANUARY

Return on Amended NAV, 1 month*                      -1.0%                     
Return on NAV, 1 month                               -1.1%                     
Return on Amended NAV, 12 months*                    11.4%  (dividend-adjusted)
Return on NAV, 12 months                              3.7%  (dividend-adjusted)
                                                                               
                                          31/1/2016   31/12/2015     31/12/2014
   Net Asset Value/share, EUR                 10.08        10.19           9.59
   Amended Net Asset Value/share, EUR*        10.98        11.09           9.73
   Share price, EUR                            7.83         7.99           7.40
                                                                               
   ASSETS                               EUR million  EUR million    EUR million
   NON-CURRENT ASSETS                                                          
      Interests in associates                  11.2         11.2            7.3
      Loan receivables from associates          1.7          1.7            1.9
      Other investments                         7.4          7.4            4.6
      Deferred tax assets                       3.4          3.7            3.7
                                                                               
   CURRENT ASSETS                                                              
      Shares held for trading                  72.1         74.8           65.4
      Other financial assets at fair                                           
      value                                    48.3         50.0           52.0
      Cash and receivables                     18.1         15.9           17.1
   ASSETS IN TOTAL                            162.2        164.7          152.0
                                                                               
   Current liabilities                         -1.8         -1.9           -0.4
   Deferred tax liabilities                    -6.1         -6.8           -4.7
                                                                               
   NET ASSET VALUE                            154.3        156.0          146.9
   AMENDED NET ASSET VALUE*                   168.2        169.9          149.0
                                                                               

Number of shares 15,316,560

* External valuations made to confirm the fair values of growth equity
investments resulted in an increase in the value of the associates. According
to IFRS, appreciations of investments in associates cannot be booked because
the associates are accounted for in Norvestia's consolidated financial
statements using the equity method. 

ACCOUNTING PRINCIPLES

Shares held for trading mainly consist of listed shares and derivative
contracts that are measured at fair value by the last trade price on active
markets on the balance sheet date. Other financial assets at fair value consist
mainly of funds whose fair value is determined as the funds’ Net Asset Value on
the balance sheet date. The group also includes bonds, the fair value of which
is measured at the last trade price on the balance sheet date. 

Other investments include unlisted shares and private equity fund investments,
which are measured at fair value. If the investments have no active market then
the fair value is determined using various valuation methods that are usually
based on forecasted cash flows. The fair values of private equity fund
investments are based on the latest fund values announced by the private equity
fund management companies. 

Norvestia Oyj

Juha Kasanen
Managing Director
Tel. +358-9-6226 380

DISTRIBUTION
Nasdaq Helsinki
Main media
www.norvestia.fi