VVO Group plc
The FAS balance sheet item Shares in associated companies included investments in housing companies and mutual real estate companies that were consolidated using the equity method of accounting. Since 1 January 2014 the investments in housing and mutual real estate companies, where VVO Group holds voting rights between 20% and 50%, are accounted as joint operations using proportionate consolidation to the similar items of the consolidated financial statements, based on share ownership by VVO Group. The adjustment in the opening balance sheet from the line item Investments to the line item Investment property amounted to EUR -7.7 million at 1 January 2014 and at 31 December 2014, respectively. The impact of the adjustment on the line item Share of result of associated companies in the income statement was not significant.