ANNUAL REPORT 2013

FINANCIALS

13. Biological assets


EUR million 2013 2012
Fair value, Jan 1 41.2 35.6
Increase due to growth 1.8 1.0
Change in fair value less estimated point-of-sale costs 0.8 1.0
Harvested timber -1.8 -0.8
Stocktaking*
4.4
Fair value, Dec 31 42.0 41.2



Fiskars owns some 11,000 hectares of forests in Finland. For valuing biological assets Fiskars applies a three year rolling average price of standing timber, based on the statistics provided by the Finnish Forest Research Institute, and multiplied by the estimated volume of standing timber, taking into account the costs and risks relating to sales.

The fair value measurements of biological assets are categorized within level 2 of the fair value hierarchy.


* Resulting from the stocktaking, both the total amount of standing timber and the proportional amounts of different types of timber changed.