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Report by the board 2004

NOTES TO FINANCIAL STATEMENT

22. CAA electric power grid operations

Itemised statement for the electric power grid operations and sales revenues as required by the Electricity Marketing Act (386/95).

Principles for categorising the joint costs and balance sheet items

Profit and loss account

Planned depreciations
Planned depreciations are calculated according to the common depreciation principles of the CAA Group.

Other operating costs
A share of the general running costs of the Helsinki-Vantaa Airport has been assigned to the electric power grid operations of the airport power plant in proportion to the number of staff. In addition, a proportion of the expenses incurred by the CAA Group/Headquarters has been assigned in proportion to the number of people.

Balance sheet

When electric power grid operations began in 1996, the opening balance sheet consisted of fixed assets for carrying out such operations (machinery and equipment). Assets under balance sheet liabilities were divided into basic equity capital and other start-up capital.

Personnel
The average number of staff employed for grid operations during the fiscal period was 7 (8).

 
POWER PLANT
PROFIT AND LOSS ACCOUNT
GRID OPERATIONS
SALES OPERATIONS
       
2004
2003
2004
2003
       
TURNOVER
2 297 2 276 2 532 1 947
         
EXPENSES
       
Materials and supplies
       
Purchases during the fiscal period
36 35 0 3
External services
762 762 2 139 1 627
         
Staff expenses
       
Salaries and bonuses
249 312 28 26
         
Indirect staff expenses
       
Pension expenses
51 58 5 5
Other indirect staff expenses
5 14 1 1
         
Depreciations and value adjustments
       
Budgeted
       
Intangible rights
7 7    
Machinery and equipment
321 340    
328 347    
Other operating costs
668 478 36 30
         
NET OPERATING PROFIT
198 270 -15 255
         
PROFIT BEFORE APPROPRIATIONS
198 270 -15 255
       
PROFIT FOR THE FISCAL PERIOD
198 270 323 255

 

BALANCE SHEET
GRID OPERATIONS
     
2004 2003
     
ASSETS
   
     
FIXED ASSETS
   
     
Intangible rights
14 21
     
Tangible assets
   
Machinery and equipment
3 509 3 235
Advance payments and
   
projects in progress
1 72
3 524 3 328
CURRENT ASSETS
   
Receivables
   
Accounts receivable
313 233
Other receivables
83 1
Receivables carried forward
4 4
400 238
     
3 924 3 566
LIABILITIES
   
EQUITY
   
Basic equity
1 312 1 312
Other start-up equity
875 875
Profit from the previous fiscal periods
797 527
Profit for the fiscal period
198 270
3 182 2 984
BORROWED CAPITAL
   
Long-term
   
Membership fees
362 112
     
Short-term
   
Accounts payable
156 237
Other short-term
88 121
Accrued expenses
136 112
380 470
     
3 924 3 566
     
Return on capital invested %
   
The return on capital invested (%) in grid operations totalled 6.2% (9.0%). formula:
   
   
result before extraordinary items + interest expenses and other financing expenses
   
balance sheet total – interest-free debt