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Notes to Sampo plc’s Financial Statements

Select note 1–22

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• Notes to the income statement 1–4
• Notes to the assets 5–9
• Notes to the liabilities 10–13
• Notes to the income taxes 14
• Notes to the liabilities and commitments 15–17
• Notes to the staff and management 18–20
• Notes to the shares held 21

Notes to the income statement
1 Other operating income
EURm				2014	2013
Income from property occupied for own activities				0	0
Other				15	15
Total				15	15
2 Other operating expenses
EURm				2014	2013
Rental expenses				-1	-1
Expense on property occupied for own activities				-0	-0
Other				-11	-10
Total				-13	-12
Item Other includes e.g. administration and IT expenses and fees for external services.
3 Auditors' fees
EURm				2014	2013
Authorised Public Accountants Ernst & Young Oy
Auditing fees				-0.2	-0.2
Other fees				-0.0	-0.0
Total				-0.2	-0.2
4 Financial income and expense
EURm				2014	2013
Received dividends in total				1,068	878
Interest income in total				63	61
Interest expense in total				-87	-97
Gains on disposal in total				4	6
Losses on disposal in total				-1	-0
Exchange result				22	20
Other				-2	-16
Total				1,067	852

Notes on the assets
5 Receivables from Group companies
EURm					2014	2013
Cost at beginning of year					321	225
Additions					34	101
Disposals					-30	-5
Carrying amount at end of year					325	321
Receivables are subordinated loans issued by subsidiaries. More information in the consolidated note 29 Financial liabilities.
6 Other shares and participations
	2014	Fair value changes		2013	Fair value changes
EURm	Fair value	Recognised in p/l	Recognised in fair value reserve	Fair value	Recognised in p/l	Recognised in fair value reserve
Avalaible-for-sale equity securities	85	1	4	28	4	-4
Changes in property shares
EURm					2014	2013
Cost at beginning of year					0	4
Disposals					0	-4
Carrying amount at end of year					0	0
Difference between current cost and carrying amount					0	0
7 Other investment receivables
	2014	Fair value changes		2013	Fair value changes
EURm	Fair value	Recognised in p/l	Recognised in fair value reserve	Fair value	Recognised in p/l	Recognised in fair value reserve
Market money	0	0	0	350	0	-0
Bonds	35	1	-3	39	0	4
Total	35	1	-2	388	0	4
8 Other receivables
EURm					2014	2013
Trading receivables					9	7
Derivatives					6	6
Other					4	4
Total					19	17
9 Prepayments and accrued income
EURm					2014	2013
Accrued interest					37	36
Derivatives					28	35
Total					65	71

Notes on the liabilities
10 Movements in the parent company's equity
	Restricted equity		Unrestricted equity
EURm	Share capital	Fair value reserve	Invested unrestricted capital	Other reserves	Retained earnings	Total
Carrying amoun at 1 Jan. 2013	98	0	1,527	273	4,895	6,793
Dividends					-756	-756
Recognition of undrawn dividends					7	7
Financial assets available-for-sale
- recognised in equity		-0				-0
- recognised in p/l		3				3
Profit for the year					829	829
Carrying amount at 31 Dec. 2013	98	4	1,527	273	4,976	6,877
	Restricted equity		Unrestricted equity
EURm	Share capital	Fair value reserve	Invested unrestricted capital	Other reserves	Retained earnings	Total
Carrying amount at 1 Jan. 2014	98	4	1,527	273	4,976	6,877
Dividends					-924	-924
Recognition of undrawn dividends					8	8
Financial assets available-for-sale
- recognised in equity		2				2
- recognised in p/l		2				2
Profit for the year					1,050	1,050
Carrying amount at 31 Dec. 2014	98	7	1,527	273	5,110	7,014
Distributable assets
EURm					2014	2013
Parent company
Profit for the year					1,050	829
Retained earnings					4,060	4,146
Invested unrestricted capital					1,527	1,527
Other reserves					273	273
Total					6,909	6,775
11 Share capital
Information on share capital is disclosed in Note 34 in the consolidated financial statements.
12 Other liabilities
EURm					2014	2013
Unredeemed dividends					30	26
Derivatives					5	7
Guarantees for derivate contracts					47	47
Other					2	0
Total					84	81
13 Accruals and deferred income
EURm					2014	2013
Deferred interest					34	34
Derivatives					6	10
Other					22	21
Total					61	66

Notes on the income taxes
14 Deferred tax assets and liabilities
EURm				2014	2013
Deferred tax assets
Losses				15	15
Deferred tax liabilities
Fair value reserve				-2	-1
Total, net				13	14

Notes on the liabilities and commitments
15 Pension liabilities
The basic and suplementary pension insurance of Sampo plc's staff is handled through insurances in Varma Mutual Insurance Company and in Mandatum Life Insurance Company Limited.
16 Future rental commitments
EURm				2014	2013
Not more than one year				1	1
Over one year but not more than five years				1	2
Total				2	3
17 Off-balance sheet items
EURm				2014	2013
Underwriting commitments				1	1
Off-balance sheet items total				1	1
To or on behalf of Group companies				-	-
To or on behalf of associates				-	-

Notes on the staff and management
18 Staff numbers
EURm				2014 Average during the year	2013 Average during the year
Full-time staff				52	51
Part-time staff				5	2
Temporary staff				2	3
Total				59	56
19 Board fees and management remuneration
EUR thousand				2014	2013
Managing Director	Kari Stadigh			3,653	3,530
Members of the Board of Directors
Björn Wahlroos				160	160
Anne Brunila				80	80
Jannica Fagerholm				80	80
Adine Grate Axén				80	80
Veli-Matti Mattila				80	80
Eira Palin-Lehtonen				80	80
Per Arthur Sørlie				80	80
Matti Vuoria				100	100
In addition to the above, the company has in accordance with the decision of the Annual General Meeting in 2014 compensated transfer tax of in total EUR 4,628.24 related to the acquisition of the company shares (EUR 1,277.27 pertaining to the Chairman, EUR 797.86 pertaining to the Vice Chairman and EUR 2,553.11 pertaining to the other Finnish members of the Board).
Pension liability
The retirement age of the Managing Director is 60 years, when the pension benefit is 60% of the pensionable salary.
20 Pension contributions to the CEO, deputy CEO and the members of the board
EUR thousand			Supplementary pension costs	Statutory pension costs	Total
Pension contributions paid during the year
Chairman of the Board			-	-	-
Other Members of the Board			-	-	-
President/CEO1)			1,001	139	1,139
Deputy CEO			-	-	-
Former Chairmen of the Board
Kalevi Keinänen 2)			18	-	18
Former Presidents/CEO:s
Harri Hollmen 3)			38	-	38
			1,057	139	1,196
1) According to his current agreement the Group CEO is entitled to retire in December 2015 when he turns 60. The pension benefit is 60 per cent of his pensionable salary. The pensionable salary includes fixed salary, fringe benefits, holiday pay and short-term incentives and is calculated as an average of two out of the four last full years, where the best and the worst year are left out. To replace the defined benefit supplementary pension agreement stipulated in the service contract for the Group CEO currently in force, a new defined contribution pension agreement will be signed as of 1 January 2016. The annual cost of the agreement for Sampo will be 400,000 euros.
2) Group pension agreement with a retirement age of 60 years and a pension benefit of 66 per cent of the pensionable TyEL-salary (TyEL: Employee's Pension Act). The supplementary cost pertains to a yearly index adjustement.
3) Group pension agreement with a retirement age of 60 and a pension benefit of 60 per cent of the pensionable TyEL-salary. The supplementary cost pertains to a yearly index adjustement.

Notes on the shares held
21 Shares held as of 31 Dec, 2014
Company name				Percentage of share capital held*)	Carrying amount EURm
Group undertakings
P&C insurance
If Skadeförsäkring Holding AB, Stockholm Sweden				100.00	1,886
Life insurance
Mandatum Life Ltd, Helsinki Finland				100.00	484
Other
Sampo Capital Oy, Helsinki Finland				100.00	1

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