Group structure and changes

At the end of the financial year, the legal VVO Group comprised 235 (201) subsidiaries and 32 (34) associated companies. In addition, VVO Group plc has a holding of more than 50 per cent in 2 (2) limited liability companies or real estate companies and a 50 per cent holding in SV-Asunnot Oy.

On 1 September 2015, Korkotukikiinteistöt Oy was divided into seven companies. The new companies are VVO Korkotuki 2015 Oy, VVO Korkotuki 2016 Oy, VVO Korkotuki 2017 Oy, VVO Korkotuki 2018 Oy, VVO Korkotuki 2019 Oy, VVO Korkotuki 2020 Oy and VVO Korkotuki 2021 Oy.

On 1 October 2015, VVO Asunnot Oy was divided into fourteen companies. The new companies resulting from the division are VVO Asunnot Oy, VVO Hoivakiinteistöt Oy, VVOhousing 1 Oy, VVOhousing 2 Oy, VVOhousing 3 Oy, VVOhousing 4 Oy, VVOhousing 5 Oy, VVOhousing 6 Oy, VVOhousing 7 Oy, VVOhousing 8 Oy, VVOhousing 9 Oy, VVOhousing 10 Oy, VVOhousing 11 Oy and VVOhousing 12 Oy.

Subsidies wholly owned by VVO Group plc are VVO Kodit Oy, VVO Vuokra-asunnot Oy, VVO Vuokratalot Oy, VVO Palvelut Oy (in charge of invoicing for the Group’s internal and external property business), as well as the receiving companies that were formed as a result of the division of VVO Korkotukikiinteistöt Oy and VVO Asunnot Oy.

VVO has been engaged in administrative litigation to overturn the designation of VVO Vuokra-asunnot Oy as a non-profit company, and the Supreme Administrative Court has now resolved the case in VVO Group’s favour. The case was returned to the Housing Finance and Development Centre of Finland (ARA) for reconsideration early this year. On VVO Group’s application, ARA cancelled VVO Vuokra-asunnot Oy’s non-profitstatus. On 1 January 2016, VVO Vuokra-asunnot Oy merged with VVO Kodit Oy.