Notes to the parent company’s financial statements


€ 1000 2017 2016
1. Revenue Revenue by product group
Circulation coins 33 253 21 997
Numismatic products 6 146 5 520
Blanks 27 231 13 340
66 630 40 857
Revenue by market area
Finland 4 255 3 327
Other EU countries 21 174 9 943
Non-EU countries 41 201 27 587
66 630 40 857
€ 1000 2017 2016
2. Other operating income
Proceeds from the divestment of fixed asset shares 0 25
Proceeds from the disposal of fixed assets 19 16
Other operating income 68 29
87 70
€ 1000 2017 2016
3. Raw materials and services Materials and supplies
Purchases during the period 44 672 25 835
Change in inventories 823 1 427
45 495 27 262
External services 10 763 10 637
Total 56 258 37 899
€ 1000 2017 2016
4. Personnel Average number of employees during the period
White-collar 31 31
Blue-collar 31 34
62 65
Number of employees at end of period 60 60
Personnel expenses
Wages and salaries 3 713 3 839
Pension costs 605 582
Other indirect employee costs 168 120
4 486 4 540
Management salaries and bonuses
CEOs 204 392
Members of the Board of Directors 165 171
368 562
 
€ 1000 2017 2016
5. Auditors' fees Deloitte & Touche and EY
Audit fees 38 47
Tax advice 40 45
Other services 3 14
Assignments under chapter 1.1(2) of the Auditing Act 2 5
Total 84 111
In the figures for the reference year, tax advice, other services and assignments under chapter 1.1(2) of the Auditing Act are stated as a single item.
€ 1000 2017 2016
6. Financial income and expenses
Dividends received from Group companies 0 1 231
Dividends received from others 4 3
Interest and financial income from Group companies 26 45
Interest and financial income from others 1 2
Interest and other financial expenses paid to Group companies 0 -1
Interest and other financial expenses paid to others -178 -175
Unrealised deferred exchange rate losses on currency derivatives 211 -211
Exchange rate differences -20 102
44 995
Other financial expenses
Impairment of investments in fixed assets 0 -1 400
€ 1000 2017 2016
7. Appropriations and extraordinary included in other operating expenses
Appropriations
Change in depreciation differences 0 384
€ 1000 2017 2016
8. Income taxes
Change in deferred taxes -42 42
-42 42
 
Intangible assets Intangible rights Goodwill Other capitalised long-term expenditure
9. Fixed assets
Acquisition cost at 1 Jan 2017 1 188 626 89
Increase 56 0 0
Decrease 0 0 0
Acquisition cost at 31 Dec 2017 1 244 626 89
Accumulated depreciation at 1 Jan 2017 1 041 626 72
Cumulative depreciation on divestments 0 0 0
Depreciation for the period 51 0 12
Accumulated depreciation at 31 Dec 2017 1 092 626 84
Advance payments 62 0 0
Carrying value at 31 Dec 2017 213 0 5
Tangible assets Land Buildings and structures Machinery and equipment
Acquisition cost at 1 Jan 2017 2 975 11 533 8 350
Increase 0 6 290
Decrease 0 0 -44
Acquisition cost at 31 Dec 2017 2 975 11 539 8 599
Accumulated depreciation at 1 Jan 2017 0 1 652 7 957
Cumulative depreciation on divestments 0 0 -44
Depreciation for the period 0 463 182
Accumulated depreciation at 31 Dec 2017 0 2 144 8 094
Advance payments 0 0 366
Carrying value at 31 Dec 2017 2 975 9 425 871
Shares in subsidiaries Other shares
10. Investments
Carrying value at 1 Jan 2017 29 603 4
Incease 0 0
Decrease 0 0
Carrying value at 31 Dec 2017 29 603 4
Shares in subsidiaries Number of shares Ownership %
Mint of Finland GmbH (earlier Saxonia Eurocoin GmbH) 2 100,00
Ab Myntverket 10000 100,00
Companies/holdings divested during the period Remaining ownership
Kiinteistö Oy Äkäsloiste 0 %
€ 1000 2017 2016
11. Inventories
Materials and supplies 2 623 3 446
Unfinished goods/products 3 415 5 763
Finished goods/products 3 946 5 094
Advance payments 0 345
9 984 14 650
 
€ 1000 2017 2016
12. Receivables
Long-term receivables
Long-term receivables, Group 1 000 1 500
1 000 1 500
Current receivables
Trade receivables, Group 40 113
Trade receivables, others 7 487 4 236
Other current receivables, Group 2 856 1 833
Other short-term receivables, others 320 818
10 703 7 000
Prepayments and accrued income, others
Recognition of personnel insurances 125 125
Exchange rate recognition 0 556
Kela compensation for occupational healthcare costs 17 0
Expenses due in 2018 49 1 140
Deferred tax assets 0 42
Other prepayments and accrued income 15 362
207 2 225
1000 € 2017 2016
13. Shareholder's equity
Shareholder's equity at 1 Jan and 31 Dec 5 000 5 000
Share premium reserve at 1 Jan and 31 Dec 6 448 6 448
Total restricted equity 11 448 11 448
Retained earnings at 1 Jan 28 846 29 991
Profit / loss for the period -551 -1 146
Unrestricted equity 28 295 28 846
Total shareholders' equity 39 743 40 293
Distributable equity 28 295 28 846
€ 1000 2017 2016
14. Cumulative appropriations
Depreciation difference 24 24
€ 1000 2017 2016
15. Liabilities
Long-term liabilities
Loans from financial institutions (159620-103741) 3 750 5 500
Loans from financial institutions RCF 4 000 12 283
7 750 17 783
Current liabilities
Part of revolving credit facility employed 11 690 0
Loans from financial institutions 1 750 3 500
Other current liabilities
Advances received 216 1 257
Trade payables, Group 1 162 1 026
Trade payables, others 1 123 2 449
VAT liability (DE) 3 0
Employer's contribution liabilities 95 108
Accrued liabilities, Group
Tolling provision Mint of Finland GmbH 245 511
Accrued liabilities, others
Personnel expense liabilities 738 748
Royalties to the Ministry of Finance 31 177
Agent commissions 384 108
Undelivered online shop orders 0 76
Deferred exchange rate losses on currency derivatives 0 211
Other accrued liabilities 163 424
17 600 10 595
 
€ 1000 2017 2016
16. Guarantees, commitments and other liabilities
Amounts payable on leasing agreements
Falling due in 2018 70 75
Falling due later 94 126
164 201
Rent liabilities
Falling due in 2018 0 0
Falling due later 0 0
Commitments given on behalf of others
Rent surety/deposit 0 0
Other commitments
Commercial guarantee credit facility 35 000 31 000
of which in use 0 0
Delivery guarantee 8 062 7 262
Offer guarantee 1 150 2 655
Agreement guarantee 0 0
Export advance guarantee 2 079 2 079
Other guarantee 50 30
11 341 12 026
Guarantees given on behalf of subsidiaries
Mint of Finland GmbH, loan guarantee 2500 2500
Line of credit granted 15 000 15 000
of which in use 11 690 12 283
Revolving facility granted 8 000 8 000
of which in use 4 000 1 000
Derivatives
Fair value 750 -1 928
- derivative in 2018 750 -1 786
- derivative falling due later 0 -142
Value of underlying security 14 733 20 694
- derivative in 2018 14 733 18 612
- derivative falling due later 0 2 082
The derivatives are currency forwards used to hedge future cash flows relating to buying and selling contracts. Derivatives are based on binding contracts made with customers and suppliers and on the delivery schedules and quantities therein. Each currency derivative relates to a contract and delivery consignment.
Negative fair values of derivatives are booked in the profit and loss statement and balance sheet only to the extent that trade receivables and trade payables booked in the balance sheet relate to them.
Other liabilities
The parent company will be liable to revise the VAT deductions made on real estate investments completed and brought into use in 2013 if there is a reduction in the taxable use of the building during the revision period. The maximum liability is €2,175,146 and the last year of the revision period is 2022.