Profit and Loss Account 1 Jan 2003-31 Dec 2003

	KONSERNI		LIIKELAITOS
	2003	2002	2003	2002
	1000 €	1000 €	1000 €	1000 €

TURNOVER	229 391	206 832	219 044	202 419
Other opeating income	1 763	3 998	1 804	623

EXPENSES
Materials and supplies
Purchases made during the financial year	15 602	15 466	15 489	15 400
Variation in stock increase(-)/decrease(+)	232	111	269	116
External services	40 442	35 826	42 210	37 511
MATERIALS AND SERVICES	56 276	51 403	57 968	53 027

STAFF EXPENSES
Salaries and bonuses	71 117	66 004	65 742	62 822
Indirect staff expenses
Pension expenses	11 133	11 295	10 318	10 784
Other indirect staff expenses	3 252	3 269	2 920	3 072
TOTAL STAFF EXPENSES	85 502	80 568	78 980	76 678

DEPRECIATION AND VALUE ADJUSTMENTS
Planned
Buildings and structures	15 519	15 434	13 025	13 354
Machinery and equipment	15 941	21 265	15 302	20 340
Ground structures	12 014	9 607	11 690	9 581
Intangible rights	744	728	741	727
Goodwill - Group	58	58
Other long-term expenses	70	67	67	60
DEPRECIATIONS	44 346	47 159	40 825	44 062

Other operating costs	22 219	18 285	24 573	21 351

NET OPERATING PROFIT	22 811	13 415	18 502	7 924

FINANCING INCOME AND EXPENSES
Income from other fixes-asset investments	18	14	18	14
Share of associated company profits	0	8
Other interest and financing income	3 190	3 075	1 852	1 889
Depreciation on non-current investment assets	432	175	424	201
Interest and other financial expenses	-7 688	9 320	-4 236	-5 909
	-4 048	-6 048	-1 942	-3 805
PROFIT BEFORE EXTRAORDINARY ITEMS	18 763	7 367	16 560	4 119

Extraordinary items
Extraordinary earnings

PROFIT BEFORE APPROPRIATIONS AND TAXES	18 763	7 367	16 560	4 119

Direct taxes	-80	-164
Change in the deferred tax liability	-425	-336

PROFIT BEFORE MINORITY SHARE	18 258	6 867	16 560	4 119

Minority share of profit for the fiscal year	-227	1

PROFIT FOR THE FISCAL YEAR	18 031	6 868	16 560	4 119