VVO Group plc
VVO Group forms a financial entity that reports on its operations in two segments. The basis for the segment division is the profit distribution limitation defined by the Act on State-Subsidised Housing Loans (ARAVA Act).
The VVO Non-subsidised segment contains VVO Group Plc and the Group companies VVO Kodit Oy, VVO Vuokra-asunnot Oy, VVO Vuokratalot Oy and VVO Palvelut Oy. These companies can freely distribute their profit. Some of VVO Vuokratalot Oy's housing is subject to property-specific limitations in accordance with the ARAVA Act.
The Group companies VVO Asunnot Oy and VVO Korkotukikiinteistöt Oy, which are subject to the profit distribution limitation specified in the ARAVA Act, belong to the VVO State-subsidised segment. These companies can pay their owner an eight per cent return on own funds invested in them that have been confirmed by the Housing Finance and Development Centre of Finland (ARA). The return payable from the annual profits of companies within the VVO State-subsidised segment totals approximately EUR 3 million. Some of the housing in the VVO State-subsidised segment is not subject to property-specific limitations in accordance with the ARAVA Act.