Annual Report 2013 | Suomeksi |

6 Items affecting comparability

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EUR million 2013 2012
Capital gains on disposals 61 155
Fair value changes on derivatives that do not qualify for hedge accounting 21 -2
Nuclear fund adjustments 23 -31
Total 105 122
Items affecting comparability are exceptional items or unrealised items which fluctuate between the years. Items affecting comparability are disclosed separately in Fortum's income statement as they are necessary for understanding the financial performance when comparing results for the current period with previous periods. Items affecting comparability are not included in Comparable operating profit.
Capital gains in 2013 mainly include sales gains from finalising the sale of small hydropower plants in Sweden and sale of Fortums's 33% shareholding in Infratek ASA in Norway, both in Power segment. Sale of Fortum's 47.9% shareholding in Härjeåns Kraft AB in Sweden, in Distribution segment. Capital gains includes also gains related to divestment of the combined heat and power plants in Kuusamo and Kauttua, in Finland, and divestments of Fortum's 50% shares in Riihimäen Kaukolämpö Oy, in Finland, which are included in Heat segment.
Capital gains in 2012 mainly include sales gains from sales of Fortum Energiaratkaisut Oy, Fortum Termest AS and Fortum Heat Naantali Oy, which are included in Heat segment, and Estonian subsidiary Fortum Elekter AS and ownership in Imatran Seudun Sähkö Oy, which are included in Distribution segment. Capital gains also include sales gains from sale of small hydropower plants in Finland and Sweden, which are included in Power segment.
Changes in the fair values of financial derivative instruments hedging future cash flows that do not qualify for hedge accounting are recognised in items affecting comparability. This is done to improve the understanding of the financial performance when comparing results from one period to another.
Nuclear fund adjustment includes effects from the accounting principle of Fortum´s part of the State Nuclear Waste Management Fund where the assets in the balance sheet cannot exceed the nuclear related provisions according to IFRIC 5. As long as the Fund is overfunded from an IFRS perspective, the effects to the operating profit from this adjustment will be positive if the provisions increase more than the Fund and negative if actual value of the fund increases more than the provisions.
For more information regarding fair value changes of derivatives, see Note 7 Fair value changes of derivatives and underlying items in income statement.
For more information regarding disposals of shares, see Note 8 Acquisitions and disposals
and Note 20 Participations in associated companies and joint ventures.
For more information regarding nuclear waste management, see Note 30 Nuclear related assets and liabilities.
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