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BUSINESS REVIEWFINANCIAL STATEMENTSFINNAIR AND SOCIETYSHAREHOLDERS



Board of Directors Report



Consolidated Income Statement



Consolidated Balance Sheet



Consolidated Cash Flow Statement



Shareholders´ Equity



Notes to the Financial Statements



Auditors' Report



Proposal on the Dividend



Shares and Share Capital



Financial Indicators



Calculation of Key Indicators



Corporate Governance



Risk Management



Stock Exchange Releases in 2005

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EBITDAR
Operating profit + depreciation + aircraft lease rentals
 
EBITDA
Operating profit + depreciation
 
Return on equity in per cent (ROE)
Result before extraordinary items - taxes x 100
Equity + minority interests
(average of beginning and end of financial year)
 
Capital employed
Balance sheet total - non interest bearing liabilities
 
Return on capital employed in per cent (ROCE)
Result before extraordinary items + interest and other financial expenses x 100
Capital employed (average of beginning and end of financial year)
 
Earnings per share (EURO)
Result before extraordinary items + / - minority interests - taxes
Adjusted average number of shares during the financial year
 
Equity per share
Equity
Number of shares at the end of the financial year, adjusted for the share issue
 
Dividend per earnings in per cent
Dividend per share x 100
Earnings per share
 
Effective dividend yield in per cent
Dividend per share x 100
Adjusted share price at the end of the financial year
 
P/CEPS
Share price at the end of the financial year
Cash flow from operations per share
 
Cash flow per share
Cash flow from operations
Adjusted average number of shares during the financial year
 
Price per earnings
Share price at the end of the financial year
Earnings per share
 
Equity ratio in per cent
Equity + minority interests x 100
Balance sheet total - advances received
 
Gearing, %
Interest bearing debt - liquid funds x 100
Equity + minority interests
 
Adjusted gearing, %
Interest bearing debt + 7 x annual aircraft leasing payments - liquid funds x 100
Equity + minority interests
 
Operating profit from operations
Operating profit excluding capital gains and fair value changes of derivatives.