Tuesday, 14. August 2012 11:00

  • Solidium's investment yield was 0.4% for the six-month review period and -14.6% for the last 12 months
  • Solidium participated in Outokumpu Oyj's share issue with 314 million euros
  • Solidium acquired shares in Talvivaara Mining Company Plc and Outotec Oyj for a total of 142 million euros
  • Solidium received a total of 392 million euros in profit distribution from of its portfolio companies during the review period
  • Solidium sold TeliaSonera shares for a total of 451 million euros and placed 600 million euros of bonds exchangeable into shares of TeliaSonera

Solidium's Managing Director Kari Järvinen's comments on the review period:

"The global economy is experiencing a period of slowing growth, which together with the eurozone's debt crisis and the downgraded growth outlooks of emerging markets is maintaining a challenging sentiment on the equity markets. Developed economies have to decrease their debt burdens, which will hamper their growth for several years. In emerging markets, consumer demand will act as the driver for economic growth.

Several of Solidium's portfolio companies operate in heavy industry sectors, and their demand is dependent on investment growth in Europe in particular. The value of several base metals companies' shares dropped significantly during the review period, and the best performing companies were the ones that enjoyed fairly stable demand in Finland or nearby markets."

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 twelve listed companies: Elisa, Kemira, Metso, Outokumpu, Outotec, Rautaruukki, Sampo, Sponda, Stora Enso, Talvivaara Mining Company, TeliaSonera and Tieto. The market value of Solidium's equity investments is approximately 7.3 billion euros at the date of this press release. Further information:

The complete half year report can be found here:

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

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(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Solidium Oy via Thomson Reuters ONE

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