Ilmailulaitos - Vuosikertomus 2005

Report by the Board 2005

Report by the Board

Trends in the CAA's business environment in 2005 CAA service goals for 2005 CAA Finland group organization Earnings trend Personnel Changes to the board The outlook for 2006 Profit and loss account Balance sheet Cash flow statement

Notes to the financial statements

1 Consolidated accounting principles 2 Turnover by business area 3 Salaries for the financial period 4 Personnel employed by the CAA Group 5 Financial income and expenses 6 Intangible and tangible assets and amortisation and depreciation 7 Shares and holdings and other investments 8 Group companies 9 Receivables from other Group
subsidiaries 10 Substantial receivables carried forward 11 Increase and decrease in own equity items 12 Provisions 13 Non-current liabilities 14 Deferred tax liability 15 Debt to other CAA Group subsidiaries 16 Relevant items of accrued expenses 17 Funding from the State budget 18 Personnel covered by State funding 19 Funding from local authorities 20 Funding from the EU 21 Guarantees, pledges and liabilities 22 The CAA in the proposed state budget 2005 23 Official activities and their finances 2005 / 2004 24 CAA electric power grid operations 25 Emission rights

Proposal for the use of profit Auditors' report

The Flight Safety Authority Airport Architecture

21 Guarantees, pledges and liabilities

		GROUP		CAA
		2005	2004	2005	2004
The numbers listed are in accordance with the remaining equity values.

Debt of the subsidiaries for which the pledge was given:
	Loans from financial institutions	75 196	78 074	75 196	78 074
	Bank account limit (not in use)	84	84	84	84
	Commercial Paper Programme	10 000	10 000	10 000	10 000

Guarantees given on behalf of:
Kiinteistö Oyj Lentäjäntie 1		27 997	28 730	27 997	28 730
Kiinteistö Oyj Lentäjäntie 3		10 007	10 365	10 007	10 365
Kiinteistö Oy Turun Lentorahti		1 226	1 294	1 226	1 294
Lentoasemakiinteistöt Oyj		35 966	37 685	35 966	37 685
Lentoasemakiinteistöt Oyj/ Comm. paper progr.		10 000	10 000	10 000	10 000
Airpro Oy		84	84	84	84

Pledges on own behalf:
Kiinteistö Oy Turun Lentorahti		2 523	2 523	2 523	2 523

The CAA and its subsidiaries have agreed on covenants with the provider of financing for securing the following loans:
Kiinteistö Oy Turun Lentorahti		1 908	2 014
In the covenants, an undertaking has been given to maintain the solvency ratio of Koy Turun Lentorahti Oy at the agreed level. Without the bank’s written permission, the debtor must not pledge or otherwise use its assets as collateral. The CAA agrees to maintain its present holding of Koy Turun Lentorahti.
IP-Kiinteistöt Oy		6 000	0
In the covenants, IP-Kiinteistöt Oy has undertaken to maintain its solvency ratio at the agreed level. and the CAA has undertaken to maintain its holding of IP-Kiinteistöt Oy.

Other guarantee liablitities		32	32

Leasing liabilities
	To be paid during the financial period of 2006	4 193	4 297	3 679	3 153
	To be paid later	19 618	19 101	16 913	13 444

Guarantees, pledges and liabilities (total)		119 554	116 125	108 395	107 278

Other liabilities

The CAA protects itself against changes in electricity acquisition prices through derivative contracts (forward contracts). In the financial statements for 2005, the nominal value of the portfolio was EUR 3,696,177.96 and the fair value of derivatives was EUR 1,095,130.29.