Solidium`s Managing Director Kari Järvinen`s comments on the review period:
"In the latter half of 2012, equity markets enjoyed strong performance and the value performance of Solidium`s portfolio was also positive. The equity markets are becoming more attractive to investors since the yield on many other investments is low and investors` confidence in a controlled solution to the European debt crisis has increased.
During the period under review, Solidium paid EUR 800 million in profit distribution to the State. This brings the total amount of profit distributed by Solidium during the last three years to EUR 1.8 billion. The disposal of all our remaining shares in Sponda is a natural continuation to our executed disposal two years ago when we decreased our holding from 34 per cent to 15 per cent. We are satisfied that, even after the disposals, Sponda`s ownership will remain firmly in Finnish hands."
Further information: Managing Director Kari Järvinen, tel. +358 (0)10 830 8905
Solidium is a limited company wholly owned by the State of Finland. Its mission is to strengthen and stabilise Finnish ownership in nationally important companies and increase the value of its holdings in the long term. Investment activities are based on financial analysis. The basis and core objective of Solidium`s investment strategy is proper, value-enhancing asset management of the current holdings. Through its stakes, Solidium is a minority owner in eleven listed companies: Elisa, Kemira, Metso, Outokumpu, Outotec, Rautaruukki, Sampo, Stora Enso, Talvivaara Mining Company, TeliaSonera and Tieto. The market value of Solidium`s investments is approximately 7.3 billion euros at the date of this press release. Further information: www.solidium.fi.
The complete half year report can be found here: