1. Group accounting principles
The CAA financial statement for 2003 has been prepared
in accordance with the account principles for state enterprises
and groups as laid down in the decision by the Government
on December 17th, 1998 (1023/98).
All of the companies belonging to the Group as well as
the associated company Nurminen Airport Services Oy have
been included in the financial statement. The associated
company Helsinki-Vantaan Lentoaseman Taksipalvelut Oy
has been omitted due to its negligible influence on the
Group’s equity.
More detailed information on the companies that belong
to the Group is given in the section 7. Group Companies
of these notes.
Internal transactions within the Group, including internal
receivables and liabilities, have been omitted. Cross-ownership
of shares has been eliminated using the past-equity procedure.
Minority shares have been removed from the Group’s
own equity capital and earnings and presented as a separate
item on the balance sheet. The associated company has
been included using the equity method. The Group’s
proportionate share of the associated company’s
profits has been presented under financing items. The
deferred tax liability on balance sheet transfers has
been shown as a separate item.
Valuation principles used in the financial statements
Capital assets are activated to expedite acquisition
costs. Planned depreciations are calculated within the
Group according to a uniform principle governing the economic
life of the capital asset. Non-current investment assets
and financial instruments held as liquid assets are valued
according to their purchase price or at their lower market
price.
The value of the inventories has been calculated according
to market averages.
Foreign receivables and debts have been converted into
euros using the rates from the European Central Bank prevailing
on the date of the financial statement. All exchange rate
profits and losses that affect the balance sheet have
been included in the profit and loss account.
The financial statements concerning the electric power
grid and the sale of electricity appear separately in
the notes to the financial statements, as required by
the Electricity Market Act.
Notes to the profit and loss account
The figures in the tables are in thousands of euros,
unless otherwise stated.
