Report by the Board 2003

Objectives laid down for the CAA and how they have been achieved

Developments and Changes in CAA Business Operations in 2003

	Slight Growth in Air Traffic
	Earning Target Exceeded
	Group Profit € 18.0
	Capital Spending Totalled € 43.1 million
	No New Loans by the CAA in 2003

Personnel

The CAA Board

The Outlook for 2004

Profit and Loss Account 1.1.2003 - 31.12.2003

Balance Sheet 31.12.2003

Financing Statement 1.1.2003 - 31.12.2003

Proposal for the use of the Profit

Auditor's Report

Notes to the Financial Statement

Group Profit € 18.0 million

Profit for the CAA Group came to € 18.0 million (€ 6.9 million in 2002). The result for the whole Group was improved by a better result for the commercial enterprise as well as for its subsidiary, Airpro Oy.

Group turnover was € 229.4 million ( € 206.8 million in 2002) and operating profit was € 22.8 million (€13.4 million in 2002).

Besides the commercial enterprise, the Group comprises the subsidiaries Airpro Oy, Lentoasemakiinteistöt Oyj, Koyj Lentäjäntie 1, Koyj Lentäjäntie 3, Koy Turun Lentorahti and IP-Kiinteistöt Oy, which was founded in February 2003. IP-Kiinteistöt Oy controls and leases property transferred from the defence forces, consisting of buildings and ground structures.