Annual Report 2015

32. Operating leases

 

Maturity of minimum lease payments:

   
     

EUR million

2015

2014

Less than 1 year

71.5

78.5

1–5 years

154.7

145.5

More than 5 years

79.5

39.9

Total

305.7

263.8

     

The income statement includes EUR 128.4 (119.3) million expenses for operating lease agreements. The Group has leased e.g. premises, office equipment and vehicles. The lease period for office equipment and vehicles varies between 2 and 5 years and that for premises until 12 years.

     

Maturity of minimum lease payment receivables:

   
     

EUR million

2015

2014

Less than 1 year

2.0

1.4

1–5 years

0.6

0.3

More than 5 years

0.0

2.0

Total

2.6

3.7

     

The Group leases out premises in its possession. The notice period of leases generally varies between 1 and 12 months, few leases have a notice period from 1 to 4 years. The lease of As Oy Kirjekyyhky's site will expire in 2050.