Työttömyysvakuutusrahasto - Financial Statement Release

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

Unemployment Insurance Fund     Stock Exchange Release     21 March 2017 at
11:00


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

TVR presented on 30 August 2016 the Budget for 2017 according to which was the
change of the net position estimated to be positive 73 million euros. Based on
the latest official statistics TVR estimates that the number of persons
unemployed would diminish by four percent in 2017 compared to 2016. At the same
time there are signs that the total amount of unemployment benefit payments made
by the unemployment funds has been in a decline. TVR states further to this that
there is certain amount of uncertainty regarding the development of the global
economy and it's impact on the near term development of the Finnish economy and
employment.

According to the latest estimate by TVR's  Board of Directors it is stated that
the total amount of unemployment benefits and other benefits financed by TVR
would diminish by three to four percent in 2017 compared to 2016. Therefore TVR
estimates the Full-year result for 2017 to improve compared to the Budget. The
latest estimate of the Full-year result is positive approximately 200 - 300
million euros. The net position is estimated to be negative approximately 260 -
160 million euros at the end of year 2017.



Additional  information:

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



Helsinki, 21 March 2017

Unemployment Insurance Fund (TVR)

Tapio Oksanen
Deputy Managing Director


Distribution:
NASDAQ OMX Helsinki
Media
www.tvr.fi




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