| Advance | ||||||
| Customer | Intangible | Other intan- | payments for | |||
| EUR 1,000 | relationships | Goodwill | rights | gible assets | intangible assets | Total |
| 2024 | ||||||
Cost at 1 January | 6,171 | 864 | 6,016 | 363 | 13,414 | |
| Additions from business | ||||||
acquisitions | 3,756 | 6,425 | 94 | 10,275 | ||
Additions | 14 | 1,424 | 1,438 | |||
Transfers between asset categories | 3 | 62 | -62 | 3 | ||
Translation differences | 18 | 31 | -2 | 47 | ||
Cost at 31 December | 3,774 | 12,628 | 867 | 6,186 | 1,722 | 25,177 |
Accumulated depreciation and impairment losses at 1 January | -5,271 | -844 | -5,123 | -11,239 | ||
Depreciation for the period | -6 | -384 | -390 | |||
| Accumulated depreciation | ||||||
| and impairment losses | ||||||
at 31 December | -5,271 | -850 | -5,507 | -11,629 | ||
Carrying amount at 1 Jan 2024 | 899 | 19 | 893 | 363 | 2,175 | |
| Carrying amount | ||||||
at 31 Dec 2024 | 3,774 | 7,356 | 16 | 679 | 1,722 | 13,548 |
| 2023 | |||||
Cost at 1 January | 6,171 | 863 | 5,669 | 12,703 | |
| Additions from business | |||||
acquisitions | 86 | 86 | |||
Additions | 1 | 179 | 572 | 752 | |
Disposals | 0 | -127 | -127 | ||
Transfers between asset categories | 82 | -82 | |||
Cost at 31 December | 6,171 | 864 | 6,016 | 363 | 13,414 |
Accumulated depreciation and impairment losses at 1 January | -5,271 | -839 | -4,758 | -10,869 | |
Depreciation for the period | -6 | -362 | -368 | ||
Impairment losses | -2 | -2 | |||
| Accumulated depreciation | |||||
| and impairment losses | |||||
at 31 December | -5,271 | -844 | -5,123 | -11,239 | |
Carrying amount at 1 Jan 2023 | 899 | 24 | 911 | 1,834 | |
| Carrying amount | |||||
at 31 Dec 2023 | 899 | 19 | 893 | 363 | 2,175 |
EUR 1,000 | Business in Finland | Business in Sweden | ||
2024 | 2023 | 2024 | 2023 | |
Goodwill | 899 | 899 | 6,457 |
EUR 1,000 | 1 Jan\u201331 Dec 2024 | 1 Jan\u201331 Dec 2023 |
Recognised over time | 4,586 | 5,330 |
Recognised at a specific time | 100,181 | 122,621 |
Revenue from contracts with customers | 104,766 | 127,951 |
2024 (EUR 1,000) | Finland | Russia | Baltic countries | Sweden | Total |
Net sales | 57,451 | 46,822 | 493 | 104,766 | |
Non-current assets | 56,621 | 13 | 599 | 12,899 | 70,131 |
2023 (EUR 1,000) | Finland | Russia | Baltic countries | Sweden | Total |
Net sales | 53,316 | 74,636 | 127,951 | ||
Non-current assets | 87,135 | 15 | 816 | 87,966 |
2024 (EUR 1,000) | Finland | Russia | Baltic countries | Sweden | Total |
Net sales | 57,451 | 46,822 | 493 | 104,766 | |
Non-current assets | 56,621 | 13 | 599 | 12,899 | 70,131 |
2023 (EUR 1,000) | Finland | Russia | Baltic countries | Sweden | Total |
Net sales | 53,316 | 74,636 | 127,951 | ||
Non-current assets | 87,135 | 15 | 816 | 87,966 |
EUR 1,000 | 2024 | 2023 |
| Gains from sale of property, plant and equipment | 2,047 | 0 |
| Rental income | 0 | 14 |
| Gain from the bargain purchase | 40 | 12,269 |
| Other items | 73 | 221 |
| Total | 2,160 | 12,505 |
EUR 1,000 | 2024 | 2023 |
Use of materials and supplies | 59,322 | 79,506 |
Expenses relating to short term or low value leases | 1,423 | 1,552 |
Administrative expenses | 5,827 | 5,231 |
Other cost items | 2,424 | 2,165 |
Total other operating expenses | 9,673 | 8,947 |
EUR 1,000 | 2024 | 2023 |
Auditing | 353 | 241 |
Other services | 20 | 56 |
Total | 373 | 297 |
EUR 1,000 | 2024 | 2023 |
| Gains from sale of property, plant and equipment | 2,047 | 0 |
| Rental income | 0 | 14 |
| Gain from the bargain purchase | 40 | 12,269 |
| Other items | 73 | 221 |
| Total | 2,160 | 12,505 |
EUR 1,000 | 2024 | 2023 |
Use of materials and supplies | 59,322 | 79,506 |
Expenses relating to short term or low value leases | 1,423 | 1,552 |
Administrative expenses | 5,827 | 5,231 |
Other cost items | 2,424 | 2,165 |
Total other operating expenses | 9,673 | 8,947 |
EUR 1,000 | 2024 | 2023 |
Auditing | 353 | 241 |
Other services | 20 | 56 |
Total | 373 | 297 |
EUR 1,000 | 2024 | 2023 |
Use of materials and supplies | 59,322 | 79,506 |
Expenses relating to short term or low value leases | 1,423 | 1,552 |
Administrative expenses | 5,827 | 5,231 |
Other cost items | 2,424 | 2,165 |
Total other operating expenses | 9,673 | 8,947 |
EUR 1,000 | 2024 | 2023 |
Auditing | 353 | 241 |
Other services | 20 | 56 |
Total | 373 | 297 |
EUR 1,000 | 2024 | 2023 |
Salaries and fees | 10,901 | 11,320 |
Pension expenses, defined contribution plans | 1,586 | 1,620 |
Pension expenses, defined benefit plans | -27 | -37 |
Other social security costs | 456 | 544 |
Share-based payments | 303 | 124 |
Total | 13,218 | 13,571 |
EUR 1,000 | 2024 | 2023 |
| Intangible assets | ||
Intangible rights | 6 | 6 |
Other capitalised long-term expenditure | 384 | 362 |
Impairment losses | 2 | |
Total | 390 | 370 |
| Property, plant and equipment | ||
Buildings | 890 | 1,581 |
Machinery and equipment | 2,807 | 2,424 |
Other tangible assets | 18 | 34 |
Total | 3,716 | 4,039 |
Amortisation of right-of-use assets (IFRS 16) | 1,314 | 932 |
Total | 5,420 | 5,341 |
EUR 1,000 | 2024 | 2023 |
Current tax expense | -2,985 | -1,334 |
Deferred taxes, net | -156 | -4,735 |
Total | -3,140 | -6,069 |
EUR 1,000 | 2024 | 2023 |
Result before income tax | 16,211 | 29,342 |
Corporate tax rate | 20% | 20% |
Income tax calculated using the Finnish corporate tax rate | -3,242 | -5,868 |
| Adjustments | ||
Effect of tax rates used in foreign subsidiaries | -1,129 | 1,755 |
Unrecognised deferred tax assets on losses | -229 | -755 |
Tax-exempt income | 8 | 2,454 |
Non-deductible expenses | -296 | -42 |
Use of previously unrecognised tax losses | 713 | 284 |
Recognised deferred tax assets on losses | -833 | -1,192 |
Deferred tax liabilities from undistributed earnings | 1,925 | -2,790 |
Other differences | -57 | 85 |
Total adjustments | 102 | -200 |
Income tax expense in the income statement | -3,140 | -6,069 |
EUR 1,000 | 2024 | 2023 |
Auditing | 353 | 241 |
Other services | 20 | 56 |
Total | 373 | 297 |
EUR 1,000 | 2024 | 2023 |
| Financial income | ||
Interest income | 72 | 37 |
Exchange rate gains | 371 | 390 |
Proceeds from other investments | 211 | |
Total financial income | 654 | 427 |
| Financial expenses | ||
Interest expenses | 2,577 | 3,172 |
Exchange rate losses | 280 | 468 |
Financial expenses on lease liabilities (IFRS 16) | 494 | 321 |
Other financial expenses | 297 | 209 |
Total financial expenses | 3,649 | 4,170 |
EUR 1,000 | 2024 | 2023 |
| Financial income | ||
Interest income | 72 | 37 |
Exchange rate gains | 371 | 390 |
Proceeds from other investments | 211 | |
Total financial income | 654 | 427 |
| Financial expenses | ||
Interest expenses | 2,577 | 3,172 |
Exchange rate losses | 280 | 468 |
Financial expenses on lease liabilities (IFRS 16) | 494 | 321 |
Other financial expenses | 297 | 209 |
Total financial expenses | 3,649 | 4,170 |
EUR 1,000 | 2024 | 2023 |
| Financial income | ||
Interest income | 72 | 37 |
Exchange rate gains | 371 | 390 |
Proceeds from other investments | 211 | |
Total financial income | 654 | 427 |
| Financial expenses | ||
Interest expenses | 2,577 | 3,172 |
Exchange rate losses | 280 | 468 |
Financial expenses on lease liabilities (IFRS 16) | 494 | 321 |
Other financial expenses | 297 | 209 |
Total financial expenses | 3,649 | 4,170 |
EUR 1,000 | 2024 | 2023 |
Salaries and fees | 10,901 | 11,320 |
Pension expenses, defined contribution plans | 1,586 | 1,620 |
Pension expenses, defined benefit plans | -27 | -37 |
Other social security costs | 456 | 544 |
Share-based payments | 303 | 124 |
Total | 13,218 | 13,571 |
2024 | 2023 | |
Total | 178 | 196 |
2024 | 2023 | |
Total | 178 | 196 |
EUR 1,000 | 2024 | 2023 |
| Intangible assets | ||
Intangible rights | 6 | 6 |
Other capitalised long-term expenditure | 384 | 362 |
Impairment losses | 2 | |
Total | 390 | 370 |
| Property, plant and equipment | ||
Buildings | 890 | 1,581 |
Machinery and equipment | 2,807 | 2,424 |
Other tangible assets | 18 | 34 |
Total | 3,716 | 4,039 |
Amortisation of right-of-use assets (IFRS 16) | 1,314 | 932 |
Total | 5,420 | 5,341 |
EUR 1,000 | 2024 | 2023 |
| Intangible assets | ||
Intangible rights | 6 | 6 |
Other capitalised long-term expenditure | 384 | 362 |
Impairment losses | 2 | |
Total | 390 | 370 |
| Property, plant and equipment | ||
Buildings | 890 | 1,581 |
Machinery and equipment | 2,807 | 2,424 |
Other tangible assets | 18 | 34 |
Total | 3,716 | 4,039 |
Amortisation of right-of-use assets (IFRS 16) | 1,314 | 932 |
Total | 5,420 | 5,341 |
| Prepay- | |||||||||
| Land and | Machi- | ments | |||||||
| Land and | bodies | Machi- | nery and | Other | and acqui- | ||||
| bodies | of water, | Buildings, | nery and | equipment, | tangible | sitions | |||
| EUR 1,000 | of water | IFRS 16 | Buildings | IFRS 16 | equipment | IFRS 16 | assets | in progress | Total |
| 2024 | |||||||||
Cost at 1 January | 247 | 8,978 | 47,222 | 8,273 | 53,755 | 2,693 | 909 | 23 | 122,100 |
| Additions from business | |||||||||
acquisitions | 15 | 23 | 898 | 95 | 460 | 259 | 1,750 | ||
Additions | 12,363 | 239 | 792 | 5 | 294 | 13,692 | |||
Transfers between asset categories | 60 | 222 | 15 | -299 | -3 | ||||
Deductions from business divestments | -6,996 | -36,305 | -349 | -1,143 | -265 | -10 | -45,067 | ||
Disposals | -264 | -264 | |||||||
Translation differences | 0 | 0 | 4 | 0 | 2 | 1 | 8 | ||
Cost at 31 December | 262 | 2,006 | 11,879 | 20,382 | 53,535 | 3,222 | 923 | 8 | 92,216 |
| Accumulated depreciation | |||||||||
| and impairment losses | |||||||||
at 1 January | -1,033 | -13,855 | -7,829 | -19,527 | -1,913 | -791 | -44,947 | ||
Depreciation for the period | -161 | -890 | -716 | -2,807 | -437 | -18 | -5,030 | ||
| Accumulated depreciation | |||||||||
for disposals and transfers | 851 | 6,329 | 41 | 1,119 | 264 | 164 | 8,768 | ||
Translation differences | 0 | 0 | 0 | ||||||
| Accumulated depreciation | |||||||||
| and impairment losses | |||||||||
at 31 December | -342 | -8,417 | -8,503 | -21,216 | -2,086 | -645 | -41,209 | ||
| Carrying amount | |||||||||
at 1 Jan 2024 | 247 | 7,945 | 33,367 | 444 | 34,228 | 781 | 118 | 23 | 77,153 |
| Carrying amount | |||||||||
at 31 Dec 2024 | 262 | 1,664 | 3,462 | 11,879 | 32,319 | 1,135 | 278 | 8 | 51,007 |
| 2023 | |||||||||
Cost at 1 January | 247 | 8,978 | 47,163 | 8,081 | 17,385 | 1,961 | 904 | 203 | 84,922 |
Additions from business acquisitions | 35,775 | 35,775 | |||||||
Additions | 5 | 191 | 569 | 735 | 5 | -39 | 1,466 | ||
Transfers between asset categories | 54 | 87 | -141 | ||||||
Disposals | -60 | -2 | -63 | ||||||
Cost at 31 December | 247 | 8,978 | 47,222 | 8,273 | 53,755 | 2,693 | 909 | 23 | 122,100 |
| Accumulated depreciation | |||||||||
| and impairment | |||||||||
losses at 1 January | -727 | -12,274 | -7,720 | -17,120 | -1,395 | -757 | -39,993 | ||
Depreciation for the period | -306 | -1,581 | -109 | -2,424 | -517 | -34 | -4,971 | ||
| Accumulated | |||||||||
depreciation for disposals and transfers | 17 | 17 | |||||||
| Accumulated depreciation | |||||||||
| and impairment losses | |||||||||
at 31 December | -1,033 | -13,855 | -7,829 | -19,527 | -1,913 | -791 | -44,947 | ||
| Carrying amount | |||||||||
at 1 Jan 2023 | 247 | 8,251 | 34,889 | 362 | 265 | 566 | 147 | 203 | 44,928 |
| Carrying amount | |||||||||
at 31 Dec 2023 | 247 | 7,945 | 33,367 | 444 | 34,228 | 781 | 118 | 23 | 77,153 |
EUR 1,000 | 2024 | 2023 |
Payments for short-term or low value leases | -2,910 | -2,317 |
Depreciation, amortisation and impairment losses | -1,314 | -932 |
Operating profit | -4,224 | -3,249 |
Financial expenses | -494 | -321 |
Profit for the financial period | -4,718 | -3,570 |
| EUR 1,000 | Right-of-use | |||
| Land and bodies | Machinery and | assets | ||
| Assets | of water | Buildings | equipment | total |
| 2024 | ||||
Cost at 1 January | 8,978 | 8,273 | 2,694 | 19,945 |
Additions from business acquisitions | 23 | 95 | 119 | |
Additions | 12,363 | 792 | 13,154 | |
Deductions from business divestments | -6,996 | -349 | -7,345 | |
Disposals | -264 | -264 | ||
Translation differences | 0 | 0 | 1 | |
Cost at 31 December | 2,006 | 20,382 | 3,222 | 25,610 |
Accumulated depreciation at 1 January | -1,033 | -7,829 | -1,913 | -10,774 |
Accumulated depreciation for disposals | 851 | 41 | 264 | 1,156 |
Depreciation for the period | -161 | -716 | -437 | -1,314 |
Translation differences | 0 | 0 | 0 | |
Accumulated depreciation at 31 December | -342 | -8,503 | -2,086 | -10,932 |
Carrying amount at 1 Jan 2024 | 7,945 | 444 | 781 | 9,171 |
Carrying amount at 31 Dec 2024 | 1,664 | 11,879 | 1,135 | 14,678 |
| 2023 | ||||
Cost at 1 January | 8,978 | 8,081 | 1,961 | 19,021 |
Additions | 191 | 735 | 926 | |
Disposals | -2 | -2 | ||
Cost at 31 December | 8,978 | 8,273 | 2,694 | 19,945 |
Accumulated depreciation at 1 January | -727 | -7,720 | -1,396 | -9,842 |
Depreciation for the period | -306 | -109 | -517 | -932 |
Accumulated depreciation at 31 December | -1,033 | -7,829 | -1,913 | -10,774 |
Carrying amount at 1 Jan 2023 | 8,251 | 362 | 566 | 9,179 |
Carrying amount at 31 Dec 2023 | 7,945 | 444 | 781 | 9,171 |
2024 | 2023 | |
Result attributable to the equity holders of the parent company (EUR 1,000) | 7,100 | 14,329 |
Weighted average number of shares, undiluted | 78,165,952 | 78,076,485 |
Earnings per share, undiluted, EUR | 0.09 | 0.18 |
Result attributable to the equity holders of the parent company (EUR 1,000) | 7,100 | 14,329 |
Weighted average number of shares, diluted | 78,165,952 | 78,076,485 |
Earnings per share, diluted, EUR | 0.09 | 0.18 |
EUR 1,000 | 2024 | 2023 |
Current tax expense | -2,985 | -1,334 |
Deferred taxes, net | -156 | -4,735 |
Total | -3,140 | -6,069 |
EUR 1,000 | 2024 | 2023 |
Result before income tax | 16,211 | 29,342 |
Corporate tax rate | 20% | 20% |
Income tax calculated using the Finnish corporate tax rate | -3,242 | -5,868 |
| Adjustments | ||
Effect of tax rates used in foreign subsidiaries | -1,129 | 1,755 |
Unrecognised deferred tax assets on losses | -229 | -755 |
Tax-exempt income | 8 | 2,454 |
Non-deductible expenses | -296 | -42 |
Use of previously unrecognised tax losses | 713 | 284 |
Recognised deferred tax assets on losses | -833 | -1,192 |
Deferred tax liabilities from undistributed earnings | 1,925 | -2,790 |
Other differences | -57 | 85 |
Total adjustments | 102 | -200 |
Income tax expense in the income statement | -3,140 | -6,069 |
| Recogni- | |||||
| sed in the | Recognised | 31 | |||
| 1 January | income | in the balance | Exchange rate | December | |
| EUR 1,000 | 2024 | statement | sheet | differences | 2024 |
| Movements in deferred taxes during 2024 | |||||
| Deferred tax assets: | |||||
Losses of Group companies from previous financial years | 5,895 | -1,248 | 4,647 | ||
Lease liabilities | 1,873 | -237 | 1,316 | 2,952 | |
From pension provisions | 11 | -5 | -1 | 5 | |
Intangible and tangible assets | 1,497 | -597 | -2 | 898 | |
Other items | 36 | 34 | 70 | ||
Total | 9,276 | -2,050 | 1,349 | -2 | 8,572 |
Netting of deferred taxes | -1,804 | -3,150 | |||
Deferred tax assets net | 7,471 | -2,050 | 1,349 | -2 | 5,422 |
| Deferred tax liabilities: | |||||
Intangible and tangible assets | 1,805 | -170 | 2,059 | -2 | 3,692 |
Transaction costs of financial instruments | 182 | 182 | |||
Retained earnings of subsidiaries | 2,790 | -1,925 | 865 | ||
Other items | 18 | 26 | 45 | ||
Total | 4,594 | -1,895 | 2,086 | -2 | 4,783 |
Netting of deferred taxes | -1,804 | -3,150 | |||
Deferred tax liabilities net | 2,790 | -1,895 | 2,086 | -2 | 1,633 |
| Recogni- | |||||
| sed in the | Recognised | 31 | |||
| 1 January | income | in the balance | Exchange rate | December | |
| EUR 1,000 | 2023 | statement | sheet | differences | 2023 |
| Movements in deferred taxes during 2023 | |||||
| Deferred tax assets: | |||||
Losses of Group companies from previous financial years | 6,672 | -2,031 | 1,254 | 5,895 | |
Lease liabilities | 1,851 | -154 | 176 | 1,873 | |
From pension provisions | 11 | -7 | 7 | 11 | |
Intangible and tangible assets | 177 | 73 | 1,243 | 5 | 1,497 |
Total | 8,711 | -2,119 | 2,679 | 5 | 9,276 |
Netting of deferred taxes | -1,803 | -1,804 | |||
Deferred tax assets net | 6,908 | -2,119 | 2,679 | 5 | 7,471 |
| Deferred tax liabilities: | |||||
Tangible assets | 1,804 | -175 | 176 | 1,805 | |
Retained earnings of subsidiaries | 2,790 | 2,790 | |||
Total | 1,804 | 2,615 | 176 | 4,594 | |
Netting of deferred taxes | -1,803 | -1,804 | |||
Deferred tax liabilities net | 0 | 2,615 | 176 | 2,790 |
EUR 1,000 | 2024 | 2023 |
| Deferred taxes | ||
Confirmed losses of Group companies for which no deferred tax assets have been recognised. | 18,673 | 17,190 |
| The confirmed losses will expire in 2025\u20132030 or later. | ||
Off-balance sheet deferred tax assets from losses in prior periods | 3,735 | 3,438 |
Subsidiaries | Domicile | Ownership (%) | Share of votes (%) |
Nurminen Logistics Services Oy | Finland | 100.0% | 100.0% |
North Rail Oy | Finland | 79.8% | 79.8% |
North Rail Holding Oy | Finland | 79.8% | 79.8% |
Kiinteist\u00f6 Oy Kotkan Siikasaarentie 78 | Finland | 100.0% | 100.0% |
Kiinteist\u00f6 Oy Luum\u00e4en Suoanttilantie 101 | Finland | 100.0% | 100.0% |
Kiinteist\u00f6 Oy Vainikkalan Huolintatie 13 | Finland | 100.0% | 100.0% |
OOO Nurminen Logistics | Russia | 100.0% | 100.0% |
Nurminen Maritime Latvia SIA | Latvia | 51.0% | 51.0% |
Nurminen Maritime UAB | Lithuania | 51.0% | 51.0% |
Nurminen Logistics Services AB | Sweden | 100% | 100% |
ILP-Group Logistics Oy | Finland | 100% | 100% |
Essinge Rail AB | Sweden | 100% | 100% |
2024 | 2023 | |||||||||
| Nurminen | Kiinteist\u00f6 | Kiinteist\u00f6 | ||||||||
| Maritime | Nurminen | Oy Helsingin | Nurminen | Nurminen | Oy Helsingin | |||||
| North | Latvia | Maritime | Satamakaari | North | Maritime | Maritime | Satamakaari | |||
| EUR 1,000 | Rail | SIA | UAB | 24 | Total | Rail | Latvia SIA | UAB | 24 | Total |
| Summary of comprehensive income statement | ||||||||||
Net sales | 27,678 | 28,657 | 18,816 | 2,172 | 77,324 | 22,145 | 50,241 | 24,241 | 2,806 | 99,433 |
Profit before taxes | 9,383 | 5,943 | 3,257 | 641 | 19,224 | 17,385 | 10,513 | 4,950 | 79 | 32,926 |
Income taxes | 933 | 869 | 183 | 94 | 2,078 | 839 | 3,075 | 1,055 | -16 | 4,954 |
Comprehensive income | 8,450 | 5,074 | 3,074 | 548 | 17,146 | 16,546 | 7,438 | 3,894 | 95 | 27,972 |
Total comprehensive income attributable to NCI | 1,707 | 2,487 | 1,508 | 268 | 5,970 | 3,342 | 3,646 | 1,910 | 46 | 8,944 |
| Summary of balance sheets | ||||||||||
Current assets | 10,780 | 3,930 | 3,811 | 18,521 | 2,859 | 12,751 | 5,123 | 90 | 20,822 | |
Non-current assets | 32,435 | 443 | 156 | 33,034 | 35,453 | 615 | 202 | 38,461 | 74,730 | |
Current liabilities | 2,433 | 735 | 1,059 | 4,227 | 17,744 | 3,251 | 922 | 1,183 | 23,100 | |
Non-current liabilities | 11,787 | 865 | 90 | 12,743 | 22 | 2,497 | 450 | 19,698 | 22,668 | |
Net assets | 28,996 | 2,772 | 2,818 | 34,585 | 20,545 | 7,617 | 3,952 | 17,670 | 49,784 | |
Equity attributable to NCI | 5,857 | 1,359 | 1,382 | 8,598 | 4,150 | 3,734 | 1,938 | 8,573 | 18,395 | |
| Summary of cash flows | ||||||||||
Cash flow from operating activities | 6,030 | 5,349 | 2,484 | 1,440 | 15,303 | 13,733 | 8,306 | 4,580 | 1,268 | 27,888 |
Cash flow from investing activities | -5,080 | -2 | -20 | -84 | -5,187 | 4,213 | -510 | -265 | -14 | 3,424 |
Cash flow from financing activities | 5,738 | -9,960 | -4,257 | -807 | -9,285 | -17,182 | -2,097 | -3,283 | -2,348 | -24,910 |
Net increase/decrease in cash and cash equivalents | 6,687 | -4,613 | -1,792 | 550 | 831 | 764 | 5,700 | 1,032 | -1,094 | 6,403 |
| Dividends paid to NCI | ||||||||||
during the year | 4,863 | 2,064 | 6,927 | 1,010 | 1,600 | 2,610 |
Subsidiaries | Domicile | Ownership (%) | Share of votes (%) |
Nurminen Logistics Services Oy | Finland | 100.0% | 100.0% |
North Rail Oy | Finland | 79.8% | 79.8% |
North Rail Holding Oy | Finland | 79.8% | 79.8% |
Kiinteist\u00f6 Oy Kotkan Siikasaarentie 78 | Finland | 100.0% | 100.0% |
Kiinteist\u00f6 Oy Luum\u00e4en Suoanttilantie 101 | Finland | 100.0% | 100.0% |
Kiinteist\u00f6 Oy Vainikkalan Huolintatie 13 | Finland | 100.0% | 100.0% |
OOO Nurminen Logistics | Russia | 100.0% | 100.0% |
Nurminen Maritime Latvia SIA | Latvia | 51.0% | 51.0% |
Nurminen Maritime UAB | Lithuania | 51.0% | 51.0% |
Nurminen Logistics Services AB | Sweden | 100% | 100% |
ILP-Group Logistics Oy | Finland | 100% | 100% |
Essinge Rail AB | Sweden | 100% | 100% |
2024 | 2023 | |||||||||
| Nurminen | Kiinteist\u00f6 | Kiinteist\u00f6 | ||||||||
| Maritime | Nurminen | Oy Helsingin | Nurminen | Nurminen | Oy Helsingin | |||||
| North | Latvia | Maritime | Satamakaari | North | Maritime | Maritime | Satamakaari | |||
| EUR 1,000 | Rail | SIA | UAB | 24 | Total | Rail | Latvia SIA | UAB | 24 | Total |
| Summary of comprehensive income statement | ||||||||||
Net sales | 27,678 | 28,657 | 18,816 | 2,172 | 77,324 | 22,145 | 50,241 | 24,241 | 2,806 | 99,433 |
Profit before taxes | 9,383 | 5,943 | 3,257 | 641 | 19,224 | 17,385 | 10,513 | 4,950 | 79 | 32,926 |
Income taxes | 933 | 869 | 183 | 94 | 2,078 | 839 | 3,075 | 1,055 | -16 | 4,954 |
Comprehensive income | 8,450 | 5,074 | 3,074 | 548 | 17,146 | 16,546 | 7,438 | 3,894 | 95 | 27,972 |
Total comprehensive income attributable to NCI | 1,707 | 2,487 | 1,508 | 268 | 5,970 | 3,342 | 3,646 | 1,910 | 46 | 8,944 |
| Summary of balance sheets | ||||||||||
Current assets | 10,780 | 3,930 | 3,811 | 18,521 | 2,859 | 12,751 | 5,123 | 90 | 20,822 | |
Non-current assets | 32,435 | 443 | 156 | 33,034 | 35,453 | 615 | 202 | 38,461 | 74,730 | |
Current liabilities | 2,433 | 735 | 1,059 | 4,227 | 17,744 | 3,251 | 922 | 1,183 | 23,100 | |
Non-current liabilities | 11,787 | 865 | 90 | 12,743 | 22 | 2,497 | 450 | 19,698 | 22,668 | |
Net assets | 28,996 | 2,772 | 2,818 | 34,585 | 20,545 | 7,617 | 3,952 | 17,670 | 49,784 | |
Equity attributable to NCI | 5,857 | 1,359 | 1,382 | 8,598 | 4,150 | 3,734 | 1,938 | 8,573 | 18,395 | |
| Summary of cash flows | ||||||||||
Cash flow from operating activities | 6,030 | 5,349 | 2,484 | 1,440 | 15,303 | 13,733 | 8,306 | 4,580 | 1,268 | 27,888 |
Cash flow from investing activities | -5,080 | -2 | -20 | -84 | -5,187 | 4,213 | -510 | -265 | -14 | 3,424 |
Cash flow from financing activities | 5,738 | -9,960 | -4,257 | -807 | -9,285 | -17,182 | -2,097 | -3,283 | -2,348 | -24,910 |
Net increase/decrease in cash and cash equivalents | 6,687 | -4,613 | -1,792 | 550 | 831 | 764 | 5,700 | 1,032 | -1,094 | 6,403 |
| Dividends paid to NCI | ||||||||||
during the year | 4,863 | 2,064 | 6,927 | 1,010 | 1,600 | 2,610 |
EUR 1,000 | 2024 | 2023 |
At 1 January | 171 | 176 |
Share of profit/loss for the year | -87 | -5 |
At 31 December | 84 | 171 |
2024 | 2023 | |||||||||
| Nurminen | Kiinteist\u00f6 | Kiinteist\u00f6 | ||||||||
| Maritime | Nurminen | Oy Helsingin | Nurminen | Nurminen | Oy Helsingin | |||||
| North | Latvia | Maritime | Satamakaari | North | Maritime | Maritime | Satamakaari | |||
| EUR 1,000 | Rail | SIA | UAB | 24 | Total | Rail | Latvia SIA | UAB | 24 | Total |
| Summary of comprehensive income statement | ||||||||||
Net sales | 27,678 | 28,657 | 18,816 | 2,172 | 77,324 | 22,145 | 50,241 | 24,241 | 2,806 | 99,433 |
Profit before taxes | 9,383 | 5,943 | 3,257 | 641 | 19,224 | 17,385 | 10,513 | 4,950 | 79 | 32,926 |
Income taxes | 933 | 869 | 183 | 94 | 2,078 | 839 | 3,075 | 1,055 | -16 | 4,954 |
Comprehensive income | 8,450 | 5,074 | 3,074 | 548 | 17,146 | 16,546 | 7,438 | 3,894 | 95 | 27,972 |
Total comprehensive income attributable to NCI | 1,707 | 2,487 | 1,508 | 268 | 5,970 | 3,342 | 3,646 | 1,910 | 46 | 8,944 |
| Summary of balance sheets | ||||||||||
Current assets | 10,780 | 3,930 | 3,811 | 18,521 | 2,859 | 12,751 | 5,123 | 90 | 20,822 | |
Non-current assets | 32,435 | 443 | 156 | 33,034 | 35,453 | 615 | 202 | 38,461 | 74,730 | |
Current liabilities | 2,433 | 735 | 1,059 | 4,227 | 17,744 | 3,251 | 922 | 1,183 | 23,100 | |
Non-current liabilities | 11,787 | 865 | 90 | 12,743 | 22 | 2,497 | 450 | 19,698 | 22,668 | |
Net assets | 28,996 | 2,772 | 2,818 | 34,585 | 20,545 | 7,617 | 3,952 | 17,670 | 49,784 | |
Equity attributable to NCI | 5,857 | 1,359 | 1,382 | 8,598 | 4,150 | 3,734 | 1,938 | 8,573 | 18,395 | |
| Summary of cash flows | ||||||||||
Cash flow from operating activities | 6,030 | 5,349 | 2,484 | 1,440 | 15,303 | 13,733 | 8,306 | 4,580 | 1,268 | 27,888 |
Cash flow from investing activities | -5,080 | -2 | -20 | -84 | -5,187 | 4,213 | -510 | -265 | -14 | 3,424 |
Cash flow from financing activities | 5,738 | -9,960 | -4,257 | -807 | -9,285 | -17,182 | -2,097 | -3,283 | -2,348 | -24,910 |
Net increase/decrease in cash and cash equivalents | 6,687 | -4,613 | -1,792 | 550 | 831 | 764 | 5,700 | 1,032 | -1,094 | 6,403 |
| Dividends paid to NCI | ||||||||||
during the year | 4,863 | 2,064 | 6,927 | 1,010 | 1,600 | 2,610 |
| Advance | ||||||
| Customer | Intangible | Other intan- | payments for | |||
| EUR 1,000 | relationships | Goodwill | rights | gible assets | intangible assets | Total |
| 2024 | ||||||
Cost at 1 January | 6,171 | 864 | 6,016 | 363 | 13,414 | |
| Additions from business | ||||||
acquisitions | 3,756 | 6,425 | 94 | 10,275 | ||
Additions | 14 | 1,424 | 1,438 | |||
Transfers between asset categories | 3 | 62 | -62 | 3 | ||
Translation differences | 18 | 31 | -2 | 47 | ||
Cost at 31 December | 3,774 | 12,628 | 867 | 6,186 | 1,722 | 25,177 |
Accumulated depreciation and impairment losses at 1 January | -5,271 | -844 | -5,123 | -11,239 | ||
Depreciation for the period | -6 | -384 | -390 | |||
| Accumulated depreciation | ||||||
| and impairment losses | ||||||
at 31 December | -5,271 | -850 | -5,507 | -11,629 | ||
Carrying amount at 1 Jan 2024 | 899 | 19 | 893 | 363 | 2,175 | |
| Carrying amount | ||||||
at 31 Dec 2024 | 3,774 | 7,356 | 16 | 679 | 1,722 | 13,548 |
| 2023 | |||||
Cost at 1 January | 6,171 | 863 | 5,669 | 12,703 | |
| Additions from business | |||||
acquisitions | 86 | 86 | |||
Additions | 1 | 179 | 572 | 752 | |
Disposals | 0 | -127 | -127 | ||
Transfers between asset categories | 82 | -82 | |||
Cost at 31 December | 6,171 | 864 | 6,016 | 363 | 13,414 |
Accumulated depreciation and impairment losses at 1 January | -5,271 | -839 | -4,758 | -10,869 | |
Depreciation for the period | -6 | -362 | -368 | ||
Impairment losses | -2 | -2 | |||
| Accumulated depreciation | |||||
| and impairment losses | |||||
at 31 December | -5,271 | -844 | -5,123 | -11,239 | |
Carrying amount at 1 Jan 2023 | 899 | 24 | 911 | 1,834 | |
| Carrying amount | |||||
at 31 Dec 2023 | 899 | 19 | 893 | 363 | 2,175 |
EUR 1,000 | Business in Finland | Business in Sweden | ||
2024 | 2023 | 2024 | 2023 | |
Goodwill | 899 | 899 | 6,457 |
| Advance | ||||||
| Customer | Intangible | Other intan- | payments for | |||
| EUR 1,000 | relationships | Goodwill | rights | gible assets | intangible assets | Total |
| 2024 | ||||||
Cost at 1 January | 6,171 | 864 | 6,016 | 363 | 13,414 | |
| Additions from business | ||||||
acquisitions | 3,756 | 6,425 | 94 | 10,275 | ||
Additions | 14 | 1,424 | 1,438 | |||
Transfers between asset categories | 3 | 62 | -62 | 3 | ||
Translation differences | 18 | 31 | -2 | 47 | ||
Cost at 31 December | 3,774 | 12,628 | 867 | 6,186 | 1,722 | 25,177 |
Accumulated depreciation and impairment losses at 1 January | -5,271 | -844 | -5,123 | -11,239 | ||
Depreciation for the period | -6 | -384 | -390 | |||
| Accumulated depreciation | ||||||
| and impairment losses | ||||||
at 31 December | -5,271 | -850 | -5,507 | -11,629 | ||
Carrying amount at 1 Jan 2024 | 899 | 19 | 893 | 363 | 2,175 | |
| Carrying amount | ||||||
at 31 Dec 2024 | 3,774 | 7,356 | 16 | 679 | 1,722 | 13,548 |
| 2023 | |||||
Cost at 1 January | 6,171 | 863 | 5,669 | 12,703 | |
| Additions from business | |||||
acquisitions | 86 | 86 | |||
Additions | 1 | 179 | 572 | 752 | |
Disposals | 0 | -127 | -127 | ||
Transfers between asset categories | 82 | -82 | |||
Cost at 31 December | 6,171 | 864 | 6,016 | 363 | 13,414 |
Accumulated depreciation and impairment losses at 1 January | -5,271 | -839 | -4,758 | -10,869 | |
Depreciation for the period | -6 | -362 | -368 | ||
Impairment losses | -2 | -2 | |||
| Accumulated depreciation | |||||
| and impairment losses | |||||
at 31 December | -5,271 | -844 | -5,123 | -11,239 | |
Carrying amount at 1 Jan 2023 | 899 | 24 | 911 | 1,834 | |
| Carrying amount | |||||
at 31 Dec 2023 | 899 | 19 | 893 | 363 | 2,175 |
EUR 1,000 | 2024 | 2023 |
Payments for short-term or low value leases | -2,910 | -2,317 |
Depreciation, amortisation and impairment losses | -1,314 | -932 |
Operating profit | -4,224 | -3,249 |
Financial expenses | -494 | -321 |
Profit for the financial period | -4,718 | -3,570 |
| EUR 1,000 | Right-of-use | |||
| Land and bodies | Machinery and | assets | ||
| Assets | of water | Buildings | equipment | total |
| 2024 | ||||
Cost at 1 January | 8,978 | 8,273 | 2,694 | 19,945 |
Additions from business acquisitions | 23 | 95 | 119 | |
Additions | 12,363 | 792 | 13,154 | |
Deductions from business divestments | -6,996 | -349 | -7,345 | |
Disposals | -264 | -264 | ||
Translation differences | 0 | 0 | 1 | |
Cost at 31 December | 2,006 | 20,382 | 3,222 | 25,610 |
Accumulated depreciation at 1 January | -1,033 | -7,829 | -1,913 | -10,774 |
Accumulated depreciation for disposals | 851 | 41 | 264 | 1,156 |
Depreciation for the period | -161 | -716 | -437 | -1,314 |
Translation differences | 0 | 0 | 0 | |
Accumulated depreciation at 31 December | -342 | -8,503 | -2,086 | -10,932 |
Carrying amount at 1 Jan 2024 | 7,945 | 444 | 781 | 9,171 |
Carrying amount at 31 Dec 2024 | 1,664 | 11,879 | 1,135 | 14,678 |
| 2023 | ||||
Cost at 1 January | 8,978 | 8,081 | 1,961 | 19,021 |
Additions | 191 | 735 | 926 | |
Disposals | -2 | -2 | ||
Cost at 31 December | 8,978 | 8,273 | 2,694 | 19,945 |
Accumulated depreciation at 1 January | -727 | -7,720 | -1,396 | -9,842 |
Depreciation for the period | -306 | -109 | -517 | -932 |
Accumulated depreciation at 31 December | -1,033 | -7,829 | -1,913 | -10,774 |
Carrying amount at 1 Jan 2023 | 8,251 | 362 | 566 | 9,179 |
Carrying amount at 31 Dec 2023 | 7,945 | 444 | 781 | 9,171 |
| EUR 1,000 | ||
Liabilities | 2024 | 2023 |
1 January | 9,610 | 9,497 |
Additions | 13,273 | 907 |
Disposals | -7,919 | -794 |
31 December | 14,963 | 9,610 |
Non-current lease liabilities | 12,374 | 9,001 |
Current lease liabilities | 2,589 | 609 |
Total | 14,963 | 9,610 |
Net cash flow from operating activities | -494 | -321 |
Cash flow from financing activities | -1,159 | -791 |
Increase (+) / decrease (-) in cash and cash equivalents | -1,653 | -1,112 |
| EUR 1,000 | ||
Liabilities | 2024 | 2023 |
1 January | 9,610 | 9,497 |
Additions | 13,273 | 907 |
Disposals | -7,919 | -794 |
31 December | 14,963 | 9,610 |
Non-current lease liabilities | 12,374 | 9,001 |
Current lease liabilities | 2,589 | 609 |
Total | 14,963 | 9,610 |
Net cash flow from operating activities | -494 | -321 |
Cash flow from financing activities | -1,159 | -791 |
Increase (+) / decrease (-) in cash and cash equivalents | -1,653 | -1,112 |
| Carrying | ||||||
| Assets | Liabilities | amounts | ||||
| measured at | Financial assets | measured at | Financial liabili- | in the | ||
EUR 1,000 | Note | amortised cost | at fair value | amortised cost | ties at fair value | balance sheet |
| 2024 | ||||||
| Financial assets and liabilities | ||||||
| according to IFRS 9 | ||||||
| Long-term financial assets | ||||||
Non-current receivables | 17 | 52 | 19 | 71 | ||
| Short-term financial assets | ||||||
Trade and other receivables | 19 | 12,861 | 12,861 | |||
Cash and cash equivalents | 20 | 16,297 | 16,297 | |||
| Long-term financial liabilities | ||||||
Interest-bearing liabilities | 19,970 | 19,970 | ||||
IFRS 16 lease liabilities | 13 | 12,374 | 12,374 | |||
Contingent consideration | 30 | 2,769 | 2,769 | |||
| Short-term financial liabilities | ||||||
Interest-bearing liabilities | 6,133 | 6,133 | ||||
IFRS 16 lease liabilities | 13 | 2,589 | 2,589 | |||
Trade payables | 25 | 5,339 | 5,339 | |||
Contingent consideration | 30 | 1,989 | 1,989 |
| Financial | Carrying | |||||
| Assets | liabilities | Financial | amounts | |||
| measured at | Financial assets | at amortised | liabilities at | in the | ||
EUR 1,000 | Note | amortised cost | at fair value | cost | fair value | balance sheet |
| 2023 | ||||||
| Financial assets and liabilities | ||||||
| according to IFRS 9 | ||||||
| Long-term financial assets | ||||||
Non-current receivables | 17 | 44 | 952 | 996 | ||
| Short-term financial assets | ||||||
Trade and other receivables | 19 | 11,897 | 11,897 | |||
Cash and cash equivalents | 20 | 12,814 | 12,814 | |||
| Long-term financial liabilities | ||||||
Interest-bearing liabilities | 18,172 | 18,172 | ||||
IFRS 16 lease liabilities | 13 | 9,001 | 9,001 | |||
| Short-term financial liabilities | ||||||
Interest-bearing liabilities | 20,631 | 20,631 | ||||
IFRS 16 lease liabilities | 13 | 609 | 609 | |||
Trade payables | 25 | 6,151 | 6,151 |
| 2024 | |||
31 December 2024 | Income statement 100 bp | ||
EUR 1,000 | Increase | Decrease | |
Total amount of variable interest rate loans | 23,839 | ||
Variable interest rate instruments | -224 | 224 | |
Total effect | -224 | 224 |
| 2023 | |||
31 December 2023 | Income statement 100 bp | ||
EUR 1,000 | Increase | Decrease | |
Total amount of variable interest rate loans | 30,951 | ||
Variable interest rate instruments | -256 | -256 | |
Total effect | -256 | -256 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 1,063 | 2,069 | 20,878 | |
| Credit limit | ||||
| Purchase price debt | 4,990 | 3,117 | ||
| Lease liabilities | 883 | 2,582 | 12,304 | 2,541 |
Trade payables | 5,339 | |||
Interest to financial institutions | 619 | 1,944 | 3,389 | |
Total | 7,904 | 11,585 | 39,689 | 2,541 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 2,425 | 10,854 | 10,153 | 8,019 |
| Credit limit | 2,652 | |||
| Purchase price debt | 4,700 | |||
| Lease liabilities | 293 | 700 | 2,370 | 10,333 |
Trade payables | 6,151 | |||
Interest to financial institutions | 882 | 1,591 | 3,341 | 1,077 |
Total | 17,103 | 13,145 | 15,864 | 19,429 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows from | with no cash | December | ||
| 2024 | from additions | disposals | Divestments | flow effect | 2024 | |
Long-term liabilities, interest bearing | 18,172 | 21,132 | -10,780 | -8,555 | 19,970 | |
Contingent consideration | 2,744 | 26 | 2,769 | |||
Long-term leasing liabilities, interest bearing | 9,001 | -6,346 | 9,718 | 12,374 | ||
Total | 27,173 | 21,132 | -14,381 | 1,188 | 35,113 |
| 1 | Other changes | |||||
| January | Cash flows | Cash flows from | with no cash | 31 Decem- | ||
| 2024 | from additions | disposals | Divestments | flow effect | ber 2024 | |
Short-term liabilities, interest bearing | 15,931 | -19,996 | -871 | 8,067 | 3,132 | |
Current purchase price debt | 4,700 | -4,700 | 2,986 | 15 | 3,001 | |
Contingent consideration | 1,979 | 10 | 1,989 | |||
Long-term leasing liabilities, interest bearing | 609 | -1,159 | -215 | 3,354 | 2,589 | |
Total | 21,240 | -25,854 | 3,880 | 11,445 | 10,710 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Long-term liabilities, interest bearing | 15,568 | 10,556 | -7,951 | 18,172 | ||
Long-term leasing liabilities, interest bearing | 8,947 | 54 | 9,001 | |||
Total | 24,515 | 10,556 | -7,897 | 27,173 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Short-term liabilities, interest bearing | 10,004 | 6,631 | -35,985 | 27,330 | 7,951 | 15,931 |
Current purchase price debt | 4,700 | 4,700 | ||||
Long-term leasing liabilities, interest bearing | 550 | -791 | 850 | 609 | ||
Total | 10,554 | 6,631 | -36,776 | 32,030 | 8,801 | 21,240 |
| Carrying | ||||||
| Assets | Liabilities | amounts | ||||
| measured at | Financial assets | measured at | Financial liabili- | in the | ||
EUR 1,000 | Note | amortised cost | at fair value | amortised cost | ties at fair value | balance sheet |
| 2024 | ||||||
| Financial assets and liabilities | ||||||
| according to IFRS 9 | ||||||
| Long-term financial assets | ||||||
Non-current receivables | 17 | 52 | 19 | 71 | ||
| Short-term financial assets | ||||||
Trade and other receivables | 19 | 12,861 | 12,861 | |||
Cash and cash equivalents | 20 | 16,297 | 16,297 | |||
| Long-term financial liabilities | ||||||
Interest-bearing liabilities | 19,970 | 19,970 | ||||
IFRS 16 lease liabilities | 13 | 12,374 | 12,374 | |||
Contingent consideration | 30 | 2,769 | 2,769 | |||
| Short-term financial liabilities | ||||||
Interest-bearing liabilities | 6,133 | 6,133 | ||||
IFRS 16 lease liabilities | 13 | 2,589 | 2,589 | |||
Trade payables | 25 | 5,339 | 5,339 | |||
Contingent consideration | 30 | 1,989 | 1,989 |
| Financial | Carrying | |||||
| Assets | liabilities | Financial | amounts | |||
| measured at | Financial assets | at amortised | liabilities at | in the | ||
EUR 1,000 | Note | amortised cost | at fair value | cost | fair value | balance sheet |
| 2023 | ||||||
| Financial assets and liabilities | ||||||
| according to IFRS 9 | ||||||
| Long-term financial assets | ||||||
Non-current receivables | 17 | 44 | 952 | 996 | ||
| Short-term financial assets | ||||||
Trade and other receivables | 19 | 11,897 | 11,897 | |||
Cash and cash equivalents | 20 | 12,814 | 12,814 | |||
| Long-term financial liabilities | ||||||
Interest-bearing liabilities | 18,172 | 18,172 | ||||
IFRS 16 lease liabilities | 13 | 9,001 | 9,001 | |||
| Short-term financial liabilities | ||||||
Interest-bearing liabilities | 20,631 | 20,631 | ||||
IFRS 16 lease liabilities | 13 | 609 | 609 | |||
Trade payables | 25 | 6,151 | 6,151 |
EUR 1,000 | Business in Finland | Business in Sweden | ||
2024 | 2023 | 2024 | 2023 | |
Goodwill | 899 | 899 | 6,457 |
| CGU net sales and | |||||||
| operating result | Actual | ||||||
| 2024\u20132029 | Finland | Forecast (Finland) | |||||
2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2029 | |
| Terminal value | |||||||
Net sales | 57,451 | 76,065 | 77,752 | 79,480 | 81,249 | 83,060 | 83,891 |
Operating result | 10,308 | 13,668 | 14,378 | 15,109 | 15,862 | 20,365 | 20,593 |
Forecast period 2025\u20132029 | Change | Impact of change on recoverable amount | |
\u2022 | Terminal growth 1% | Terminal growth -1%-point | EUR -16.3 million |
| i.e. terminal growth 0% | |||
\u2022 | WACC 8.81% | WACC +1 %-point i.e. WACC 9.81% | EUR -22.4 million |
\u2022 | Average EBIT 20.5% and EBITDA 26.1% | EBITDA decrease 1%-point i.e. | EUR -9.5 million |
| average EBITDA 25.1% |
EUR 1,000 | 2024 | 2023 |
At 1 January | 171 | 176 |
Share of profit/loss for the year | -87 | -5 |
At 31 December | 84 | 171 |
EUR 1,000 | 2024 | 2023 |
Financial assets at fair value through profit or loss | 19 | 952 |
Other receivables | 52 | 44 |
Total | 71 | 996 |
| Recogni- | |||||
| sed in the | Recognised | 31 | |||
| 1 January | income | in the balance | Exchange rate | December | |
| EUR 1,000 | 2024 | statement | sheet | differences | 2024 |
| Movements in deferred taxes during 2024 | |||||
| Deferred tax assets: | |||||
Losses of Group companies from previous financial years | 5,895 | -1,248 | 4,647 | ||
Lease liabilities | 1,873 | -237 | 1,316 | 2,952 | |
From pension provisions | 11 | -5 | -1 | 5 | |
Intangible and tangible assets | 1,497 | -597 | -2 | 898 | |
Other items | 36 | 34 | 70 | ||
Total | 9,276 | -2,050 | 1,349 | -2 | 8,572 |
Netting of deferred taxes | -1,804 | -3,150 | |||
Deferred tax assets net | 7,471 | -2,050 | 1,349 | -2 | 5,422 |
| Deferred tax liabilities: | |||||
Intangible and tangible assets | 1,805 | -170 | 2,059 | -2 | 3,692 |
Transaction costs of financial instruments | 182 | 182 | |||
Retained earnings of subsidiaries | 2,790 | -1,925 | 865 | ||
Other items | 18 | 26 | 45 | ||
Total | 4,594 | -1,895 | 2,086 | -2 | 4,783 |
Netting of deferred taxes | -1,804 | -3,150 | |||
Deferred tax liabilities net | 2,790 | -1,895 | 2,086 | -2 | 1,633 |
| Recogni- | |||||
| sed in the | Recognised | 31 | |||
| 1 January | income | in the balance | Exchange rate | December | |
| EUR 1,000 | 2023 | statement | sheet | differences | 2023 |
| Movements in deferred taxes during 2023 | |||||
| Deferred tax assets: | |||||
Losses of Group companies from previous financial years | 6,672 | -2,031 | 1,254 | 5,895 | |
Lease liabilities | 1,851 | -154 | 176 | 1,873 | |
From pension provisions | 11 | -7 | 7 | 11 | |
Intangible and tangible assets | 177 | 73 | 1,243 | 5 | 1,497 |
Total | 8,711 | -2,119 | 2,679 | 5 | 9,276 |
Netting of deferred taxes | -1,803 | -1,804 | |||
Deferred tax assets net | 6,908 | -2,119 | 2,679 | 5 | 7,471 |
| Deferred tax liabilities: | |||||
Tangible assets | 1,804 | -175 | 176 | 1,805 | |
Retained earnings of subsidiaries | 2,790 | 2,790 | |||
Total | 1,804 | 2,615 | 176 | 4,594 | |
Netting of deferred taxes | -1,803 | -1,804 | |||
Deferred tax liabilities net | 0 | 2,615 | 176 | 2,790 |
EUR 1,000 | 2024 | 2023 |
| Deferred taxes | ||
Confirmed losses of Group companies for which no deferred tax assets have been recognised. | 18,673 | 17,190 |
| The confirmed losses will expire in 2025\u20132030 or later. | ||
Off-balance sheet deferred tax assets from losses in prior periods | 3,735 | 3,438 |
Forecast period 2025\u20132029 | Change | Impact of change on recoverable amount |
| The use of balance sheet deferred tax | ||
| Average forecast period profit before | Profit before taxes 90% of forecast | assets is postponed by two years. |
| tax is 10% less than estimated | The use of off-balance sheet deferred | |
| tax assets is postponed by two years. | ||
| The use of balance sheet deferred tax | ||
| Average forecast period profit before | Profit before taxes 85% of forecast | assets is postponed by three years. |
| tax is 15% less than estimated | The use of off-balance sheet deferred tax | |
| assets is postponed by three years. | ||
| The use of balance sheet deferred tax | ||
| Average forecast period profit before | Profit before taxes 80% of forecast | assets is postponed by three years. |
| tax is 20% less than estimated | The use of off-balance sheet deferred tax | |
| assets is postponed by three years. |
EUR 1,000 | 2024 | 2023 |
Trade receivables | 10,204 | 9,005 |
Prepayments and accrued income | 1,800 | 2,484 |
VAT receivables | 612 | 313 |
Other receivables | 245 | 95 |
Total | 12,861 | 11,897 |
| Trade and other receivables in currencies | ||
EUR | 10,677 | 9,136 |
USD | 505 | 2,760 |
SEK | 1,663 | |
NOK | 16 | |
12,861 | 11,896 |
EUR 1,000 | 2024 | 2023 |
Cash and bank balances | 16,297 | 12,814 |
Cash and cash equivalents in the balance sheet | 16,297 | 12,814 |
| Reserve for | |||||
| invested | |||||
| Share premium | Legal reserve, | unrestricted | |||
| Number of | Equity, EUR | reserve, EUR | thousands | equity, | |
| shares | thousand | thousand | of euro | EUR thousand | |
1 January 2022 | 77,194,190 | 4,215 | 86 | 2,376 | 36,838 |
Directed free share issue in February 2022 1) | 774,386 | ||||
Repayment of equity in April 2022 2) | -740 | ||||
Directed free share issue in July 2022 3) | 133,078 | ||||
Repayment of equity in September 2022 4) | -507 | ||||
31 December 2022 | 78,101,654 | 4,215 | 86 | 2,376 | 35,591 |
Directed free share issue in June 2023 5) | 26,201 | ||||
31 December 2023 | 78,127,855 | 4,215 | 86 | 2,376 | 35,591 |
Repayment of equity in May 2024 6) | -1,563 | ||||
Directed free share issue in July 2024 7) | 85,309 | ||||
Repayment of equity in November 2024 8) | -3,129 | ||||
Directed share issue in December 2024 9) | 2,339,756 | 2,274 | |||
31 December 2024 | 80,552,920 | 4,215 | 86 | 2,376 | 33,174 |
| Reserve for | |||||
| invested | |||||
| Share premium | Legal reserve, | unrestricted | |||
| Number of | Equity, EUR | reserve, EUR | thousands | equity, | |
| shares | thousand | thousand | of euro | EUR thousand | |
1 January 2022 | 77,194,190 | 4,215 | 86 | 2,376 | 36,838 |
Directed free share issue in February 2022 1) | 774,386 | ||||
Repayment of equity in April 2022 2) | -740 | ||||
Directed free share issue in July 2022 3) | 133,078 | ||||
Repayment of equity in September 2022 4) | -507 | ||||
31 December 2022 | 78,101,654 | 4,215 | 86 | 2,376 | 35,591 |
Directed free share issue in June 2023 5) | 26,201 | ||||
31 December 2023 | 78,127,855 | 4,215 | 86 | 2,376 | 35,591 |
Repayment of equity in May 2024 6) | -1,563 | ||||
Directed free share issue in July 2024 7) | 85,309 | ||||
Repayment of equity in November 2024 8) | -3,129 | ||||
Directed share issue in December 2024 9) | 2,339,756 | 2,274 | |||
31 December 2024 | 80,552,920 | 4,215 | 86 | 2,376 | 33,174 |
| CEO | |||||
| Performance | Performance | Performance | Performance | Restricted | |
| Share | Share | Share | Share | Plan | |
| Plan | Plan | Plan | Plan | Plan | 2022\u20132026 |
| Instalments | Plan | Plan | |||
| Instrument | 2023\u20132025 | Plan 2022\u20132024 | 2023\u20132025 | 2024\u20132026 | Payment 2025 |
Granting dates | 21 November | 4 July 2022 | 21 November | 30 May 2024 | 6 June 2023 |
| 2023 | 2023 | ||||
Fair value of the share reward at the time of granting, EUR | 0.79 | 0.69 | 0.79 | 0.54 | 1.07 |
Share price at the time of granting, EUR | 0.92 | 0.77 | 0.92 | 1.14 | 1.11 |
Share price limit of the reward, EUR | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 |
Maximum number of shares paid | 608,000 | 500,000 | 376,000 | 376,000 | 60,000 |
Share price at the end of the financial year | 1.05 | 1.05 | 1.05 | 1.05 | 1.05 |
Earning period start date | 21 November | 4 July 2022 | 21 November | 30 May 2024 | 6 June 2023 |
| 2023 | 2023 | ||||
Earning period end date | 31 May 2027\u2013 | 31 May 2025 | 31 May 2026 | 31 May 2027 | 31 May 2025 |
| 31 May 2028 | |||||
Number of persons in the plan | 1 | 3 | 5 | 5 | 7 |
| Changes during the financial year | |||||
Number of share rewards at the beginning of the year | 608,000 | 256,000 | 376,000 | 60,000 | |
Granted | 376,000 | ||||
Lost | 40,000 | 40,000 | 40,000 | ||
Number of share rewards at the end of the year | 608,000 | 216,000 | 336,000 | 336,000 | 60,000 |
EUR 1,000 | 2024 | 2023 |
| Expense through profit or loss from defined benefit plans | ||
Net interest (+expense/-income) | 2 | 2 |
Expense through profit or loss from defined benefit plans | 2 | 2 |
| Re-measurement of the defined benefit pension plan | ||
Changes in financial assumptions | 13 | -22 |
Yield of the assets included in the plan, excluding items relating to net interest | -13 | 53 |
Empirical changes | -5 | 3 |
Recognised in comprehensive income, total remeasurement effect | -5 | 34 |
| In statement of financial position | ||
Current value of defined benefit obligations transferred to reserves | 439 | 491 |
Fair value of plan assets | -416 | -437 |
Net defined benefit debt | 23 | 54 |
| Changes in the fair value of plan assets | ||
Assets at 1 January | 437 | 469 |
Interest income | 16 | 15 |
Yield of assets, excluding interest income included in net interest expense | 13 | -3 |
Employer\u2019s contributions | 27 | 37 |
Benefits paid | -77 | -81 |
Assets at 31 December | 416 | 437 |
Change in the current value of the plan obligation | 2024 | 2023 |
Obligation at 1 January | 491 | 524 |
Interest expense | 18 | 17 |
Changes resulting from actuarial assumptions | 8 | 32 |
Benefits paid | -77 | -81 |
Obligation at 31 December | 439 | 491 |
| The estimated payments to defined benefit plans amount to EUR 6 thousand in 2025. | ||
Key actuarial assumptions | 2024 | 2023 |
Discount rate, % | 3.0% | 3.9% |
Future pay increase, % | 0.0% | 0.0% |
Insurance company\u2019s customer rebate, % | 0.0% | 0.0% |
Increase in benefits, % | 2.1% | 2.6% |
Inflation, % | 1.9% | 2.4% |
Assumptions | Change in assumption | 2024 | 2023 |
| Discount rate | |||
0.50% increase | -13 | -15 | |
0.50% decrease | 14 | 16 | |
| Increase in benefits | 0.50% increase | 12 | 14 |
0.50% decrease | -11 | -13 |
EUR 1,000 | 2024 | 2023 |
| Maturity distribution of non-discounted pension liability | ||
During the next 12 months | 78 | 86 |
1\u20135 years | 190 | 220 |
5\u201310 years | 126 | 148 |
Over 10 years | 159 | 219 |
Total | 553 | 673 |
EUR 1,000 | 2024 | 2023 |
| Maturity distribution of non-discounted pension liability | ||
During the next 12 months | 78 | 86 |
1\u20135 years | 190 | 220 |
5\u201310 years | 126 | 148 |
Over 10 years | 159 | 219 |
Total | 553 | 673 |
EUR 1,000 | 2024 | 2023 |
| Interest-bearing net liabilities | ||
Non-current interest-bearing liabilities | 35,113 | 27,173 |
Current interest-bearing liabilities | 10,711 | 21,240 |
Interest-bearing liabilities, total | 45,824 | 48,413 |
Cash and cash equivalents | 16,297 | 12,814 |
Interest-bearing net liabilities, total | 29,527 | 35,599 |
| Interest-bearing liabilities in currencies | ||
EUR | 38,065 | 48,413 |
SEK | 7,759 |
EUR 1,000 | 2024 | 2023 |
| Interest-bearing net liabilities | ||
Non-current interest-bearing liabilities | 35,113 | 27,173 |
Current interest-bearing liabilities | 10,711 | 21,240 |
Interest-bearing liabilities, total | 45,824 | 48,413 |
Cash and cash equivalents | 16,297 | 12,814 |
Interest-bearing net liabilities, total | 29,527 | 35,599 |
| Interest-bearing liabilities in currencies | ||
EUR | 38,065 | 48,413 |
SEK | 7,759 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 1,063 | 2,069 | 20,878 | |
| Credit limit | ||||
| Purchase price debt | 4,990 | 3,117 | ||
| Lease liabilities | 883 | 2,582 | 12,304 | 2,541 |
Trade payables | 5,339 | |||
Interest to financial institutions | 619 | 1,944 | 3,389 | |
Total | 7,904 | 11,585 | 39,689 | 2,541 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 2,425 | 10,854 | 10,153 | 8,019 |
| Credit limit | 2,652 | |||
| Purchase price debt | 4,700 | |||
| Lease liabilities | 293 | 700 | 2,370 | 10,333 |
Trade payables | 6,151 | |||
Interest to financial institutions | 882 | 1,591 | 3,341 | 1,077 |
Total | 17,103 | 13,145 | 15,864 | 19,429 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows from | with no cash | December | ||
| 2024 | from additions | disposals | Divestments | flow effect | 2024 | |
Long-term liabilities, interest bearing | 18,172 | 21,132 | -10,780 | -8,555 | 19,970 | |
Contingent consideration | 2,744 | 26 | 2,769 | |||
Long-term leasing liabilities, interest bearing | 9,001 | -6,346 | 9,718 | 12,374 | ||
Total | 27,173 | 21,132 | -14,381 | 1,188 | 35,113 |
| 1 | Other changes | |||||
| January | Cash flows | Cash flows from | with no cash | 31 Decem- | ||
| 2024 | from additions | disposals | Divestments | flow effect | ber 2024 | |
Short-term liabilities, interest bearing | 15,931 | -19,996 | -871 | 8,067 | 3,132 | |
Current purchase price debt | 4,700 | -4,700 | 2,986 | 15 | 3,001 | |
Contingent consideration | 1,979 | 10 | 1,989 | |||
Long-term leasing liabilities, interest bearing | 609 | -1,159 | -215 | 3,354 | 2,589 | |
Total | 21,240 | -25,854 | 3,880 | 11,445 | 10,710 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Long-term liabilities, interest bearing | 15,568 | 10,556 | -7,951 | 18,172 | ||
Long-term leasing liabilities, interest bearing | 8,947 | 54 | 9,001 | |||
Total | 24,515 | 10,556 | -7,897 | 27,173 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Short-term liabilities, interest bearing | 10,004 | 6,631 | -35,985 | 27,330 | 7,951 | 15,931 |
Current purchase price debt | 4,700 | 4,700 | ||||
Long-term leasing liabilities, interest bearing | 550 | -791 | 850 | 609 | ||
Total | 10,554 | 6,631 | -36,776 | 32,030 | 8,801 | 21,240 |
EUR 1,000 | 2024 | 2023 |
| Current | ||
Trade payables | 5,339 | 6,151 |
Advances received | 502 | 3,881 |
Other liabilities | 633 | 573 |
Accrued expenses | 5,275 | 5,909 |
Total trade payables and other liabilities | 11,748 | 16,514 |
| Trade payables and other liabilities in currencies | ||
EUR | 9,989 | 15,831 |
SEK | 1,220 | 7 |
NOK | 71 | |
USD | 539 | 592 |
CHF | 12 | |
11,748 | 16,514 | |
| Non-current | ||
Other liabilities | 23 | 54 |
Non-current liabilities, total | 23 | 54 |
| 2024 | |||
31 December 2024 | Income statement 100 bp | ||
EUR 1,000 | Increase | Decrease | |
Total amount of variable interest rate loans | 23,839 | ||
Variable interest rate instruments | -224 | 224 | |
Total effect | -224 | 224 |
| 2023 | |||
31 December 2023 | Income statement 100 bp | ||
EUR 1,000 | Increase | Decrease | |
Total amount of variable interest rate loans | 30,951 | ||
Variable interest rate instruments | -256 | -256 | |
Total effect | -256 | -256 |
| 2024 | ||||||
Trade receivables 10% | Trade payables 10% | |||||
EUR 1,000 | USD | decreases | increases | decreases | increases | |
| Total currency items | ||||||
Trade receivables | 505 | |||||
Trade payables | 539 | |||||
Total effect | -44 | 54 | 47 | \u201358 |
| 2023 | |||||
Trade receivables 10% | Trade payables 10% | ||||
EUR 1,000 | USD | decreases | increases | decreases | increases |
| Balance sheet exchange rate | ||
Exchange rates used | 2024 | 2023 |
USD | 1.04 | 1.11 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 1,063 | 2,069 | 20,878 | |
| Credit limit | ||||
| Purchase price debt | 4,990 | 3,117 | ||
| Lease liabilities | 883 | 2,582 | 12,304 | 2,541 |
Trade payables | 5,339 | |||
Interest to financial institutions | 619 | 1,944 | 3,389 | |
Total | 7,904 | 11,585 | 39,689 | 2,541 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 2,425 | 10,854 | 10,153 | 8,019 |
| Credit limit | 2,652 | |||
| Purchase price debt | 4,700 | |||
| Lease liabilities | 293 | 700 | 2,370 | 10,333 |
Trade payables | 6,151 | |||
Interest to financial institutions | 882 | 1,591 | 3,341 | 1,077 |
Total | 17,103 | 13,145 | 15,864 | 19,429 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows from | with no cash | December | ||
| 2024 | from additions | disposals | Divestments | flow effect | 2024 | |
Long-term liabilities, interest bearing | 18,172 | 21,132 | -10,780 | -8,555 | 19,970 | |
Contingent consideration | 2,744 | 26 | 2,769 | |||
Long-term leasing liabilities, interest bearing | 9,001 | -6,346 | 9,718 | 12,374 | ||
Total | 27,173 | 21,132 | -14,381 | 1,188 | 35,113 |
| 1 | Other changes | |||||
| January | Cash flows | Cash flows from | with no cash | 31 Decem- | ||
| 2024 | from additions | disposals | Divestments | flow effect | ber 2024 | |
Short-term liabilities, interest bearing | 15,931 | -19,996 | -871 | 8,067 | 3,132 | |
Current purchase price debt | 4,700 | -4,700 | 2,986 | 15 | 3,001 | |
Contingent consideration | 1,979 | 10 | 1,989 | |||
Long-term leasing liabilities, interest bearing | 609 | -1,159 | -215 | 3,354 | 2,589 | |
Total | 21,240 | -25,854 | 3,880 | 11,445 | 10,710 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Long-term liabilities, interest bearing | 15,568 | 10,556 | -7,951 | 18,172 | ||
Long-term leasing liabilities, interest bearing | 8,947 | 54 | 9,001 | |||
Total | 24,515 | 10,556 | -7,897 | 27,173 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Short-term liabilities, interest bearing | 10,004 | 6,631 | -35,985 | 27,330 | 7,951 | 15,931 |
Current purchase price debt | 4,700 | 4,700 | ||||
Long-term leasing liabilities, interest bearing | 550 | -791 | 850 | 609 | ||
Total | 10,554 | 6,631 | -36,776 | 32,030 | 8,801 | 21,240 |
Maximum exposure to credit risk | EUR 1,000 |
2024 | 10,204 |
2023 | 9,005 |
| Past due less | Past due | Past due over | |||
EUR 1,000 | Not past due | than 30 days | 30\u2013120 days | 120 days | Total |
2024 | 7,970 | 1,574 | 435 | 224 | 10,204 |
2023 | 7,537 | 783 | 305 | 380 | 9,005 |
| 2024 | |||
31 December 2024 | Income statement 100 bp | ||
EUR 1,000 | Increase | Decrease | |
Total amount of variable interest rate loans | 23,839 | ||
Variable interest rate instruments | -224 | 224 | |
Total effect | -224 | 224 |
| 2023 | |||
31 December 2023 | Income statement 100 bp | ||
EUR 1,000 | Increase | Decrease | |
Total amount of variable interest rate loans | 30,951 | ||
Variable interest rate instruments | -256 | -256 | |
Total effect | -256 | -256 |
| 2024 | ||||||
Trade receivables 10% | Trade payables 10% | |||||
EUR 1,000 | USD | decreases | increases | decreases | increases | |
| Total currency items | ||||||
Trade receivables | 505 | |||||
Trade payables | 539 | |||||
Total effect | -44 | 54 | 47 | \u201358 |
| 2023 | |||||
Trade receivables 10% | Trade payables 10% | ||||
EUR 1,000 | USD | decreases | increases | decreases | increases |
| Balance sheet exchange rate | ||
Exchange rates used | 2024 | 2023 |
USD | 1.04 | 1.11 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 1,063 | 2,069 | 20,878 | |
| Credit limit | ||||
| Purchase price debt | 4,990 | 3,117 | ||
| Lease liabilities | 883 | 2,582 | 12,304 | 2,541 |
Trade payables | 5,339 | |||
Interest to financial institutions | 619 | 1,944 | 3,389 | |
Total | 7,904 | 11,585 | 39,689 | 2,541 |
EUR 1,000 | 1\u20133 months | 4 months\u20131 year | 2\u20135 years | 5 years \u2013> |
Loans from financial institutions | 2,425 | 10,854 | 10,153 | 8,019 |
| Credit limit | 2,652 | |||
| Purchase price debt | 4,700 | |||
| Lease liabilities | 293 | 700 | 2,370 | 10,333 |
Trade payables | 6,151 | |||
Interest to financial institutions | 882 | 1,591 | 3,341 | 1,077 |
Total | 17,103 | 13,145 | 15,864 | 19,429 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows from | with no cash | December | ||
| 2024 | from additions | disposals | Divestments | flow effect | 2024 | |
Long-term liabilities, interest bearing | 18,172 | 21,132 | -10,780 | -8,555 | 19,970 | |
Contingent consideration | 2,744 | 26 | 2,769 | |||
Long-term leasing liabilities, interest bearing | 9,001 | -6,346 | 9,718 | 12,374 | ||
Total | 27,173 | 21,132 | -14,381 | 1,188 | 35,113 |
| 1 | Other changes | |||||
| January | Cash flows | Cash flows from | with no cash | 31 Decem- | ||
| 2024 | from additions | disposals | Divestments | flow effect | ber 2024 | |
Short-term liabilities, interest bearing | 15,931 | -19,996 | -871 | 8,067 | 3,132 | |
Current purchase price debt | 4,700 | -4,700 | 2,986 | 15 | 3,001 | |
Contingent consideration | 1,979 | 10 | 1,989 | |||
Long-term leasing liabilities, interest bearing | 609 | -1,159 | -215 | 3,354 | 2,589 | |
Total | 21,240 | -25,854 | 3,880 | 11,445 | 10,710 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Long-term liabilities, interest bearing | 15,568 | 10,556 | -7,951 | 18,172 | ||
Long-term leasing liabilities, interest bearing | 8,947 | 54 | 9,001 | |||
Total | 24,515 | 10,556 | -7,897 | 27,173 |
| 1 | Other changes | 31 | ||||
| January | Cash flows | Cash flows | with no cash | December | ||
| 2023 | from additions | from disposals | Divestments | flow effect | 2023 | |
Short-term liabilities, interest bearing | 10,004 | 6,631 | -35,985 | 27,330 | 7,951 | 15,931 |
Current purchase price debt | 4,700 | 4,700 | ||||
Long-term leasing liabilities, interest bearing | 550 | -791 | 850 | 609 | ||
Total | 10,554 | 6,631 | -36,776 | 32,030 | 8,801 | 21,240 |
Maximum exposure to credit risk | EUR 1,000 |
2024 | 10,204 |
2023 | 9,005 |
| Past due less | Past due | Past due over | |||
EUR 1,000 | Not past due | than 30 days | 30\u2013120 days | 120 days | Total |
2024 | 7,970 | 1,574 | 435 | 224 | 10,204 |
2023 | 7,537 | 783 | 305 | 380 | 9,005 |
Maximum exposure to credit risk | EUR 1,000 |
2024 | 10,204 |
2023 | 9,005 |
| Past due less | Past due | Past due over | |||
EUR 1,000 | Not past due | than 30 days | 30\u2013120 days | 120 days | Total |
2024 | 7,970 | 1,574 | 435 | 224 | 10,204 |
2023 | 7,537 | 783 | 305 | 380 | 9,005 |
EUR 1,000 | 2024 | 2023 |
Less than one year | 1,792 | 411 |
Between one year and five years | 456 | 268 |
Total | 2,248 | 680 |
EUR 1,000 | 2024 | 2023 |
| Liabilities and contingent liabilities secured by corporate mortgages and pledges | ||
Loans from financial institutions | 23,963 | 36,151 |
Customs duties and other guarantees | 7,672 | 9,222 |
| Interest-bearing accounts for which business mortgages have been given and subsidiary shares pledged | ||
Credit limit | 3,000 | 3,000 |
Unused credit | 3,000 | 348 |
| Pledges given on own behalf | ||
Book value of pledged subsidiary shares | 50,073 | 43,766 |
| Mortgages given on own behalf | ||
Company mortgages | 59,900 | 43,500 |
Real estate mortgages | 2,242 | 25,125 |
| The Group as lessor: lease guarantees for off-balance sheet leases | ||
Deposit guarantee from 1 April 2021 to 1 April 2023 and then until further notice rental security | 599 |
EUR 1,000 | 2024 | 2023 |
| Liabilities and contingent liabilities secured by corporate mortgages and pledges | ||
Loans from financial institutions | 23,963 | 36,151 |
Customs duties and other guarantees | 7,672 | 9,222 |
| Interest-bearing accounts for which business mortgages have been given and subsidiary shares pledged | ||
Credit limit | 3,000 | 3,000 |
Unused credit | 3,000 | 348 |
| Pledges given on own behalf | ||
Book value of pledged subsidiary shares | 50,073 | 43,766 |
| Mortgages given on own behalf | ||
Company mortgages | 59,900 | 43,500 |
Real estate mortgages | 2,242 | 25,125 |
| The Group as lessor: lease guarantees for off-balance sheet leases | ||
Deposit guarantee from 1 April 2021 to 1 April 2023 and then until further notice rental security | 599 |
EUR 1,000 | 2024 | 2023 |
Sales | 2 | 8 |
Purchases | 3 | |
Current receivables | 2 | 4 |
Shareholder loans | 167 |
EUR 1,000 | 2024 | 2023 |
| CEO, the members of the Board and the Management Team | ||
Salaries and other short-term employee benefits | 2,172 | 1,983 |
Statutory pension payments | 428 | 323 |
Share-based payments | 90 | 90 |
Total | 2,690 | 2,396 |
EUR 1,000 | 2024 | 2023 |
| Salaries and fees | ||
| President and CEO | ||
Olli Pohjanvirta | 863 | 755 |
| Members of the Board | ||
Juha Nurminen | 38 | 39 |
Olli Pohjanvirta | 38 | 30 |
Irmeli Rytk\u00f6nen | 77 | 78 |
Erja Sankari | 43 | 43 |
Karri Koskela | 46 | 38 |
Victor Hartwall (until 12 April 2023) | 30 | |
Total | 1,105 | 1,012 |
EUR 1,000 | 2024 | 2023 |
| CEO, the members of the Board and the Management Team | ||
Salaries and other short-term employee benefits | 2,172 | 1,983 |
Statutory pension payments | 428 | 323 |
Share-based payments | 90 | 90 |
Total | 2,690 | 2,396 |
EUR 1,000 | 2024 | 2023 |
| Salaries and fees | ||
| President and CEO | ||
Olli Pohjanvirta | 863 | 755 |
| Members of the Board | ||
Juha Nurminen | 38 | 39 |
Olli Pohjanvirta | 38 | 30 |
Irmeli Rytk\u00f6nen | 77 | 78 |
Erja Sankari | 43 | 43 |
Karri Koskela | 46 | 38 |
Victor Hartwall (until 12 April 2023) | 30 | |
Total | 1,105 | 1,012 |
| ILP-Group | ||
EUR 1,000 | Essinge Rail AB | Logistics Oy |
Consideration paid in cash for the acquisition | 4,489 | 0 |
Shares issued | 2,274 | |
Purchase price debt | 2,986 | |
Contingent consideration | 4,723 | |
Total consideration | 14,472 | 0 |
Customer relationships | 3,756 | |
Other intangible fixed assets | 94 | |
Property, plant and equipment | 1,494 | 137 |
Right-of-use assets | 119 | |
Non-current receivables | 49 | |
Trade and other receivables | 3,385 | 424 |
Deferred tax assets | 936 | |
Cash in hand and at bank | 2,635 | |
Deferred tax liabilities | -766 | |
Loans from financial institutions | -280 | |
Lease liabilities | -119 | |
Trade payables and other current liabilities | -2,288 | -334 |
Deferred tax liabilities | -1,155 | |
Acquired net assets | 8,047 | 40 |
Difference, gain from the bargain purchase | -40 | |
Difference, goodwill | 6,425 | |
| Consideration for acquisition - cash flows: | ||
Cash consideration paid during the financial year 2024 | -4,489 | 0 |
| Less: | ||
Cash in hand and at bank on the balance sheet at the time of acqui- sition | 2,635 | |
Net cash flows, investment during the financial year | -1,853 | 0 |