VVO Annual Report 2013 - Group structure and changes

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Group structure and change

No material changes occurred in Group structure during the financial year.

At the end of the financial period, the Group consisted, in addition to the parent company, of 169 (163) subsidiaries and 31 (35) affiliates. Subsidiaries wholly owned by the Group parent company, VVO-group plc, are VVO Kodit Oy, VVO Vuokra-asunnot Oy, VVO Vuokratalot Oy, VVO Korkotukikiinteistöt Oy and VVO Asunnot Oy, which own rental apartments, as well as VVO Palvelut Oy in charge of invoicing for the Group's internal and external property business.

VVO-group plc also has a holding of more than 50 per cent in 2 (7) limited liability companies or real estate companies and a 50 per cent holding in Suomen Asumisoikeus Oy and SV-Asunnot Oy.

In its decision of 19 November 2013, the Administrative Court of Helsinki rejected the appeal regarding designating one of VVO's Group companies as a non-profit company. VVO has appealed to the Supreme Administrative Court from the decision by the Administrative Court of Helsinki.

Group structure 31 December 2013		Subsidiaries	Affiliates
VVO-group plc		1) 8	3
Parent companies of sub-groups
	VVO Asunnot Oy	26	2) 13
	VVO Korkotukikiinteistöt Oy	3	5
	VVO Kodit Oy	108	2) 13
	VVO Vuokra-asunnot Oy	7	1
	VVO Vuokratalot Oy	13	2) 4
Parking and maintenance companies		3	2
	VVO Palvelut Oy	1
Total		169	31
1) Includes the parent companies of the sub-groups and other subsidiaries listed, excluding parking and maintenance companies. 2) 10 of the affiliates are subsidiaries in the remaining group.