NOTES TO FINANCIAL STATEMENT

1. Group accounting principles

The CAA financial statement for 2004 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 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, “CAA Group Companies”.

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 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 stocks and inventories has been calculated according to market averages

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.