Board of Directors Report
		Accounting Principles
		Consolidated Income Statement
		Consolidated Balance Sheet
		Consolidated Cash Flow Statement
		Finnair Plc Income Statement
		Finnair Plc Balance Sheet
		Finnair Plc Cash Flow Statement
		Notes to the Financial Statements
		Shares and Share Capital
		Proposal on the Dividend
		Auditors' Report
		Financial Indicators
		Turnover by Sector
		Operating Profit by Sector
		Calculation of Key Indicators

Print this page

FINANCIAL INDICATORS 2000-2004

		2004	2003	2002	2001	Proforma 2000
Consolidated income statement
Turnover	EUR Mill.	1,698	1,558	1,656	1,631	1,658
- change	%	9.0	-6.0	1.6	29.5	-
EBITDA	EUR Mill.	118	85	175	145	232
- in relations to turnover	%	7.0	5.5	10.5	8.9	14.0
Operating profit	EUR Mill.	17	-19	60	13	111
- in relations to turnover	%	1.0	-1.2	3.6	0.8	6.7
Profit before extraordinary items	EUR Mill.	11	-22	54	9	120
- in relations to turnover	%	0.7	-1.4	3.3	0.5	7.2
Profit before taxes	EUR Mill.	11	-22	54	9	149
- in relations to turnover	%	0.7	-1.4	3.3	0.5	9.0
Consolidated balance sheet
Fixed assets	EUR Mill.	915	904	958	1,094	1,009
Current assets	EUR Mill.	563	511	522	414	530
Total assets	EUR Mill.	1,478	1,415	1,480	1,508	1,539
Shareholders equity and minority interests	EUR Mill.	618	621	649	618	645
Liabilities	EUR Mill.	860	794	831	890	894
Total liabilities	EUR Mill.	1,478	1,415	1,480	1,508	1,539
Gross capital expenditure	EUR Mill.	115	82	102	281	247
Gross capital expenditure in relation to turnover	%	6.7	5.3	6.2	17.2	14.9
Return on equity (ROE)	%	2.0	-2.5	5.9	1.2	13.3
Return on capital employed (ROCE)	%	3.7	0.0	7.6	2.9	15.3
Average capital employed	EUR Mill.	887	934	1,008	1,003	893
Increase in share capital	EUR Mill.	0	0	0	0	1
Dividend for the financial year 1)	EUR Mill.	8	8	13	6	34
Earnings/share	EUR	0.14	-0.19	0.43	0.08	0.95
Earnings/share adjusted for option rights (with dilution effect)	EUR Mill.	0.14	-0.19	0.43	0.08	0.95
Equity/share	EUR	7.29	7.24	7.58	7.22	7.54
Dividend/share1)	EUR	0.10	0.10	0.15	0.07	0.40
Dividend/earnings	%	71.6	-52.2	34.5	83.1	42.2
Effective dividend yield	%	1.80	1.89	4.00	1.90	9.00
P / CEPS		3.5	4.4	1.9	2.4	1.5
Cash flow/share	EUR	1.6	1.2	2.0	1.6	2.9
P/E ratio		39.81	-27.66	8.63	44.52	4.71
Equity ratio	%	42.7	44.4	44.3	41.3	42.2
Net debt-to-equity (Gearing)	%	-5.5	-2.9	3.1	34.6	11.1
Adjusted Gearing	%	95.5	102.7	82.0	116.6	72.7
Interest bearing debt	EUR Mill.	258	277	322	427	316
Liquid funds	EUR Mill.	291	294	302	215	245
Net interest bearing debt	EUR Mill.	-34	-18	20	212	71
- in relations to turnover	%	-2.0	-1.1	1.2	13.0	4.3
Net financing income (+) / expenses (-)	EUR Mill.	-6	-3	-6	-4	9
- in relations to turnover	%	-0.3	-0.2	-0.3	-0.3	0.6
Net interest expenses	EUR Mill.	-2	-2	-5	-4	-2
- in relations to turnover	%	-0.1	-0.1	-0.3	-0.3	-0.1
Operational cash flow	EUR Mill.	112	82	168	138	243
Operational cash flow in relation to turnover	%	6.6	5.2	10.2	8.5	14.6
Average number of shares adjusted for the share issue		84,750,387	84,743,171	84,740,792	84,739,098	84,739,098
and the number of share at the end of the financial year (with diluted effect) 2)		86,757,963	86,048,385	85,663,479	85,663,479	85,663,479
Average number of shares adjusted		84,759,213	85,745,663	85,743,163	84,739,098	84,739,098
for the share issue
and the number of shares at		88,756,713	86,048,385	85,665,173	85,663,479	85,663,479
the end of the financial year (with diluted effect) 2)
Personnel on average		9,522	9,981	10,476	10,847	11,051

The number of personnel are averages and adjusted for part-time employees.

1) The dividend for 2004 is a proposal of the Board of Directors to the Annual General Meeting

2) In calculating the diluted figures, the impact of convertible bonds and the year 2000 share option scheme have been included. The diluted effect has been calculated by the rate of the closing day.