Norvestia - Net Asset Value

NORVESTIA’S NET ASSET VALUE INCREASED BY 1.2% IN JULY

Helsinki, Finland, 2015-08-12 13:45 CEST (GLOBE NEWSWIRE) -- 

Norvestia Oyj        Stock exchange release    12 August 2015 at 14:45

NORVESTIA'S NET ASSET VALUE INCREASED BY 1.2% IN JULY

Return on NAV, 1 month                                  1.2%                    
Return on NAV, since beginning of year                  9.3%  (dividend-adjusted
                                                              )                 
Return on Amended NAV, since beginning of year*         9.0%  (dividend-adjusted
                                                              )                 
Return on NAV, 12 months                                9.9%  (dividend-adjusted
                                                              )                 
                                             31/7/2015  30/6/2015     31/12/2014
     Net Asset Value/share, EUR                  10.18      10.06           9.59
     Amended Net Asset Value/share, EUR*         10.30      10.18           9.73
     Share price, EUR                             7.92       7.77           7.40
     ASSETS                                        EUR        EUR    EUR million
                                               million    million               
     NON-CURRENT ASSETS                                                         
         Interests in associates                   7.7        7.7            7.3
         Loan receivables from associates          1.9        1.9            1.9
         Other investments                         6.1        5.8            4.6
         Deferred tax assets                       3.5        3.3            3.7
     CURRENT ASSETS                                                             
         Shares held for trading                  69.9       65.8           65.4
         Other financial assets at fair                                         
         value                                    50.5       50.4           52.0
         Cash and receivables                     24.5       26.6           17.1
     ASSETS IN TOTAL                             164.1      161.5          152.0
     Current liabilities                          -1.5       -1.4           -0.4
     Deferred tax liabilities                     -6.7       -6.1           -4.7
     NET ASSET VALUE                             155.9      154.0          146.9
     AMENDED NET ASSET VALUE*                    157.8      155.9          149.0

Number of shares 15,316,560

* External valuations made to support the 2014 financial statements and confirm
the fair values of industrial investments have resulted in an appreciation in
the value of one of the associates, Coronaria Hoitoketju Oy. According to IFRS,
this type of appreciation 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. Private equity fund investments are valued
according to the practice generally used in the sector, i.e. the fair value of
the private equity fund investment is the latest fund value announced by the
private equity fund management company. 

Norvestia Oyj

Jonna Vaarnanen
Financial Director
Tel. +358-9-6226 380

DISTRIBUTION
Nasdaq Helsinki
Main media
www.norvestia.fi