1. Principles of the consolidated financial statements
Finavia’s 2006 financial statements have been prepared in accordance with the Government Decree (160/2004) issued on 26 February 2004 on the accounting and financial statements of State-owned enterprises.
All the companies in the group are included in the consolidated financial statements. The associated company Helsinki Vantaan Lentoaseman Taksipalvelut Oy is not included in the consolidated financial statements because it has no essential impact on the group’s equity. More detailed information about the companies that belong to the group is provided in the section of the notes to the financial statements 8. Group companies. Internal transactions within the group, and internal receivables and loans have been eliminated. Cross ownership of shares has been eliminated using the acquisition cost method. Minority interests are distinguished from the group’s equity and profit and entered as a separate item in the balance sheet. Tax liability calculated from closing transfers is entered as a separate item.
Valuation principles followed in the preparation of the financial statements
Fixed assets are activated in direct acquisition costs. Planned depreciation and amortisation expenses have been calculated within the group using consistent principles based on the economic life of the fixed assets. Securities included in investments in fixed assets and in financial asset securities are valued at the lower of acquisition cost or market price.
The value of inventories is calculated on the basis of average prices.
The notes to the financial statements include itemised financial statements on the electricity network operations and electricity sales operations in accordance with the Electricity Market Act.
Notes to the income statement
Unless indicated otherwise, the figures in the tables are in thousands of euros.
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